System and method of dispensing insurance through a computer network
DCFirst Claim
1. A network-based method for facilitating the dispensing of insurance providing coverage in a country other than the country in which the customer resides comprising in any order at least the steps of:
- receiving policy information, at a host, from a plurality of insurance companies, the policy information including at least one of insurance rates and underwriting guidelines;
contracting, by the host, with an agent to sell, via an agent website, insurance policies from the plurality of insurance companies in accordance with the policy information;
receiving, at the host, customer data from at least one of the agent website and an agent representative via the network, the data including at least identification of the desired type of insurance and parameters applicable to the underwriting guidelines;
obtaining, at the host, calculations of insurance rates for insurance policies from a plurality of competing insurance companies;
providing, by the host to the customer via the network, the insurance rates for the insurance policies from at least a portion of the plurality of competing insurance companies, the insurance policies providing coverage in a country other than the country in which the customer resides;
receiving, by the host, a selection from the customer of at least one insurance policy from the provided insurance rates and insurance policies, wherein the plurality of competing insurance companies are required to bind coverage and provide the at least one insurance policy to the customer upon selection;
receiving, at the host from the customer via the network, instructions to purchase the selected insurance policy providing coverage in a country other than the country in which the customer resides, along with customer financial transaction account information to facilitate payment;
facilitating, by the host, authorization of the customer financial transaction account information without involvement by the agent or the plurality of insurance companies; and
creating and distributing, by the host, the electronic proof of the bound coverage to the location of the customer.
3 Assignments
Litigations
0 Petitions
Accused Products
Abstract
Systems and methods for facilitating the dispensing of insurance and of an insurance company selling insurance policies are provided, which may be network or Internet based, and may be managed through a general agent. Policy information from insurance companies may be received or stored. Data may be received from customers and insurance rates or quotes provided, which may be from competing companies. An instruction to purchase and payment may be received and proof of coverage, such as printing a document, may be facilitated. Data may be input directly by a customer or by an agent on behalf of the customer. The policy information, customer data, and premiums may be provided to the insurance companies. Insurance agents may advertise, and may refer customers from their own websites in exchange for commissions. The insurance offered for sale may be, automobile or specialty insurance, and may provide coverage in another country.
70 Citations
37 Claims
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1. A network-based method for facilitating the dispensing of insurance providing coverage in a country other than the country in which the customer resides comprising in any order at least the steps of:
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receiving policy information, at a host, from a plurality of insurance companies, the policy information including at least one of insurance rates and underwriting guidelines; contracting, by the host, with an agent to sell, via an agent website, insurance policies from the plurality of insurance companies in accordance with the policy information; receiving, at the host, customer data from at least one of the agent website and an agent representative via the network, the data including at least identification of the desired type of insurance and parameters applicable to the underwriting guidelines; obtaining, at the host, calculations of insurance rates for insurance policies from a plurality of competing insurance companies; providing, by the host to the customer via the network, the insurance rates for the insurance policies from at least a portion of the plurality of competing insurance companies, the insurance policies providing coverage in a country other than the country in which the customer resides; receiving, by the host, a selection from the customer of at least one insurance policy from the provided insurance rates and insurance policies, wherein the plurality of competing insurance companies are required to bind coverage and provide the at least one insurance policy to the customer upon selection; receiving, at the host from the customer via the network, instructions to purchase the selected insurance policy providing coverage in a country other than the country in which the customer resides, along with customer financial transaction account information to facilitate payment; facilitating, by the host, authorization of the customer financial transaction account information without involvement by the agent or the plurality of insurance companies; and creating and distributing, by the host, the electronic proof of the bound coverage to the location of the customer. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20)
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21. An Internet-based method of facilitating the dispensing of insurance, the method comprising in any order at least the steps of:
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storing policy information for insurance policies at a host, the policy information including at least one of insurance rates and underwriting guidelines, the insurance policies providing coverage in a country other than the country in which the customer resides, wherein the insurance companies providing the insurance policies are required to bind coverage and provide the insurance policies based on the insurance rates provided to the customer when the insurance policy is selected by the customer; contracting, by the host, with a plurality of insurance agents for facilitating the dispensing of the insurance policies via the agents respective websites using advertising; receiving customer data at the host via the Internet from at least one of the agent website and an agent representative, the data including at least one of identification of the desired type of insurance and parameters applicable to the underwriting guidelines; obtaining, at the host, calculations of insurance rates from a plurality of competing insurance companies; providing, from the host via the Internet, the insurance rates for at least a portion of the insurance policies; receiving, by the host, a selection from the customer of at least one insurance policy from the provided insurance rates and insurance policies; receiving, at the host via the Internet, an instruction from the customer to purchase said selected insurance policy from the provided insurance rates and insurance policies, along with customer financial transaction account information to facilitate payment; storing, at the host, at least part of the customer data; and creating and distributing, by the host, electronic proof of the bound coverage to the location of the customer. - View Dependent Claims (22, 23, 24, 25, 26, 27, 28)
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29. A method for selling insurance policies from competing insurance companies, the method comprising in any order at least the steps of:
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providing policy information to a managing general agent, the policy information including at least one of insurance rates and underwriting guidelines; authorizing the managing general agent to sell, via a website associated with the managing general agent, a plurality of insurance policies in accordance with the policy information, the insurance policies providing coverage in a country other than the country in which the customer resides, wherein the competing insurance companies are required to bind coverage and provide the insurance policies based on the provided insurance rates to the customer when the insurance policy is selected by the customer, the managing general agent website performing the following steps; receiving customer data via the Internet from a customer, the data including identification of the desired type of insurance and parameters applicable to the underwriting guidelines, sending the customer data to a host website to calculate insurance rates and receive the insurance rates, providing to the customer via the Internet, insurance rates for insurance policies from at least a portion of the competing insurance companies, the competing companies being identified for each insurance rate, receiving from the customer via the Internet, and sending to the host website a selection from the customer of at least one insurance policy from the provided insurance rates and insurance policies, and, receiving from the customer via the Internet, and sending to the host website, an instruction to purchase said selected insurance policy, along with customer financial transaction account information to facilitate payment, receiving from the host website, authorization of the customer financial transaction account information without involvement by the managing general agent or the insurance companies; and creating and distributing electronic proof of the bound coverage to the location of the customer; receiving from the managing general agent an accounting of the insurance policies that have been issued and at least part of the data; and receiving payment for the insurance policies that have been issued from the managing general agent. - View Dependent Claims (30, 31, 32, 33, 34, 35, 36, 37)
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Specification