System and method for generating and executing insurance policies for foreign exchange losses
AssigneeWalker Digital, LLC
InventorsJay S. Walker, James A. Jorasch
Life of this patent
Estimating the term…
Abstract
A system and method for providing a foreign exchange insurance policy that automatically considers factors such as the type of currency, exchange rate, amount of coverage, and period of coverage, to determine a premium. Users can access the system using credit cards, ATMs, banks or other media.
Claims26
A method of calculating a premium for a foreign exchange insurance policy, comprising:
- receiving from a user a policy requirement for the foreign exchange insurance policy;
- accessing data corresponding to a currency associated with the foreign exchange insurance policy;
- and determining the premium based on the policy requirement and the accessed data.
A device to calculate a premium for a foreign exchange insurance policy, comprising:
- a processor;
- and
- a storage device coupled to said processor and storing instructions adapted to be executed by said processor to:
- receive from a user a policy requirement for the foreign exchange insurance policy;
- access data corresponding to a currency associated with the foreign exchange insurance policy;
- and
- determine the premium based on the policy requirement and the accessed data.
A medium storing instructions adapted to be executed by a processor to perform a method of calculating a premium for a foreign exchange insurance policy, said method comprising:
- receiving from a user a policy requirement for the foreign exchange insurance policy;
- accessing data corresponding to a currency associated with the foreign exchange insurance policy;
- and
- determining the premium based on the policy requirement and the accessed data.
A method of receiving an indication of a premium for a foreign exchange insurance policy, comprising:
- providing to a central controller a policy requirement for the foreign exchange insurance policy;
- and
- receiving the indication of the premium, the premium being based on the policy requirement.
A device to receive an indication of a premium for a foreign exchange insurance policy, comprising:
- a processor;
- and
- a storage device coupled to said processor and storing instructions adapted to be executed by said processor to:
- provide to a central controller a policy requirement for the foreign exchange insurance policy;
- and
- receive the indication of the premium, the premium being based on the policy requirement.
A medium storing instructions adapted to be executed by a processor to perform a method of receiving an indication of a premium for a foreign exchange insurance policy, said method comprising:
- providing to a central controller a policy requirement for the foreign exchange insurance policy;
- and
- receiving the indication of the premium, the premium being based on the policy requirement.
Dependencies are inferred from the claim text.