Electronic insurance application fulfillment system and method

A method for preparing insurance applications comprising the steps of:

• a) collecting preliminary information from an applicant;
• b) generating one or more insurance product options based on said preliminary information utilizing a first rules-based software application;
• c) verifying the availability of insurance broker information using a second rules-based software application;
• d) selecting of one of said one or more products, and;
• e) electronically merging said preliminary information and said selected product to create a pre-application.

A system for preparing insurance applications comprising:

• software for collecting preliminary information from an applicant;
• a database of insurance product options;
• rules-based application software for matching said preliminary information with said insurance product options using a library of questions also contained in said database;
• and
• a communications module to interface a central control hub with subscriber workstations to provide for information transfer and outsourcing to a service provider of insurance application fulfillment for said applicant.

A system for outsourcing insurance policy application fulfillment comprising a control hub that comprises computer software and hardware, said computer software and hardware comprising:

• a processing module comprising software programs for:
• retrieving and processing data relating to insurance application transaction data, matching insurance applicant information with insurance application form requirements, verifying the availability of insurance broker information, and displaying said insurance policy applications and their status to subscribing parties;
• a communications module for providing the exchange of data and information across said software programs and between subscribing parties and said control hub;
• and
• a memory module for housing said insurance application transaction data, said software programs, and a database management system for storing information comprising subscriber and applicant information.