RECEIPT INSURANCE SYSTEMS AND METHODS

• US 20140039940A1
• Filed: 10/15/2013
• Published: 02/06/2014
• Est. Priority Date: 06/25/2009
• Status: Active Grant

• Current Assignee: Victor T. Smith
• Original Assignee: Victor T. Smith
• Inventors: SMITH, Victor T.
• Granted Patent: US 8,849,683 B2
• Time in Patent Office: Days
• US Class Current: 705/4
• CPC Class Codes: G06Q 20/204 comprising interface for record bearing medium or carrier for electronic funds transfer or payment credit
• CPC Class Codes: G06Q 20/389 Keeping log of transactions for guaranteeing non-repudiation of a transaction
• CPC Class Codes: G06Q 30/02 Marketing; Price estimation or determination; Fundraising
• CPC Class Codes: G06Q 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes
• CPC Class Codes: G06Q 40/08 Insurance

Abstract

Receipt insurance systems and methods provide protection to consumers against losses which may result from failure to possess a physical receipt or proof of purchase for retail purchase transactions. In one embodiment, a third party receipt insurer insures or guarantees consumers or purchasers of benefits associated with having possession of a receipt or other proof of purchase for a retail purchase without the need for possession of a physical or paper receipt. A receipt insurance agreement between a receipt insurance provider and a consumer protects the consumer against a loss of consumer rights or personal property insurance rights resulting from a lost receipt by electronically storing for retrieval, if necessary, an electronic record of all of the receipt information.

Claims

1. A computer implemented method of providing receipt insurance in connection with consumers and retailers, the method comprising the steps of:

providing a receipt insurer, the receipt insurer entering into one or more agreements with consumers or one or more retailers by a networked computer connection to provide receipt insurance to the consumers to insure the consumers with respect to receipts received by the consumers for purchases made by the consumers from the retailers;

the consumers or retailers paying a premium by a networked computer connection to the receipt insurer for the receipt insurance, and

paying to one or more of the retailers, by a networked computer connection, at least a portion of the premiums.

2. The computer implemented method of claim 1 wherein the receipt insurer enters into one or more agreements to provide receipt insurance to the consumers in connection with a consumer credit card, consumer debit card, consumer smart card or consumer account.

3. The computer implemented method of claim 1 wherein the consumers pay a premium or premiums to the receipt insurer for the receipt insurance for a period of time in which the purchases are to be provided with receipt insurance.

4. The computer implemented method of claim 1 wherein the consumers pay a premium to the receipt insurer for the receipt insurance for each purchase to be provided with receipt insurance.

5. The computer implemented method of claim 1 wherein the consumers pay a premium or premiums to the receipt insurer for the receipt insurance in connection with a consumer credit card, consumer debit card, consumer smart card or consumer account.

6. The computer implemented method of claim 1 wherein the receipt insurance is provided to the consumers pursuant to an agreement between the receipt insurer and a retailer and without agreements between the receipt insurer and the consumers.

7. The computer implemented method of claim 1 wherein the receipt insurance is provided to the consumers pursuant to agreements between the receipt insurer and the consumers and without agreements between the receipt insurer and the retailers.

8. The computer implemented method of claim 1 wherein the consumers and one or more retailers pay a premium or premiums to the receipt insurer for the receipt insurance.

9. The computer implemented method of claim 1 wherein the receipt insurance insures the consumers for financial loss related to a receipt for a consumer purchase from a retailer.

10. The computer implemented method of claim 1 further comprising the step of a consumer paying a premium or premiums for receipt insurance to an issuer of a credit card or debit card or to a custodian of an account.