Systems and methods for configuring a life insurance system
AssigneeUnited Services Automobile Association (USAA)
InventorsWilliam S. White, Jeremy S. May, Matthew J. Kosub, Sean W. Bell, Greg A. Riedel
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Abstract
Methods and systems for configuring non-contemporaneous analytics. An application is received from a consumer for a life insurance policy. An indication is sent to the consumer agreeing to activate the life insurance policy upon receipt of a notification of an activation trigger. An activation trigger is received and the policy is activated.
Claims20
A method comprising:
- receiving, at a computer system with a processor, an application from a consumer for a life insurance policy;
- generating, by the computer system with the processor, a self-executing smart contract configured to activate the life insurance policy based on occurrence of an activation trigger, wherein the activation trigger is a predetermined event comprising the consumer turning a threshold age;
- receiving, by the computer system with the processor, a notification of the activation trigger;
- and
- based on the receiving the notification of the activation trigger, transmitting, by the computer system with the processor and to a device associated with the consumer, a notification indicative of the life insurance policy.
A non-transitory computer-readable storage medium having computer-readable instructions stored thereon that, when executed by a processor, cause the processor to effectuate operations comprising:
- receiving an application from a consumer for a life insurance policy;
- generating a self-executing smart contract for the life insurance policy configured to activate the life insurance policy based on occurrence of an activation trigger, wherein the activation trigger comprises a predetermined event;
- receiving a notification of the activation trigger;
- and
- based on the receiving the notification of the activation trigger, transmitting, to a device associated with the consumer, a notification indicative of the life insurance policy.
A system for configuring a life insurance system, the system comprising:
- a processor;
- and
- memory communicatively coupled to the processor, the memory storing instructions that cause the processor to effectuate operations comprising:
- receiving an application from a consumer for a life insurance policy;
- generating a self-executing smart contract configured to activate the life insurance policy based on occurrence of an activation trigger, wherein the activation trigger is a predetermined event;
- receiving a notification of the activation trigger;
- and
- based on the receiving the notification of the activation trigger, transmitting, to a device associated with the consumer, a notification indicative of providing the life insurance policy.
Dependencies are inferred from the claim text.