Systems and methods for insurance coverage
AssigneeUnited Services Automobile Association (USAA)
InventorRobert Michael Bohanek
Life of this patent
Estimating the term…
Abstract
A user may use a financial card to make a purchase at a merchant. An institution system may receive and analyze transaction data associated with the purchase. The institution system may send a notice to the user asking if the user would like insurance coverage for the item(s) pertaining to the purchase. The notice may request the user send a photo of the item(s) or documentation pertaining to the item(s) to the institution system.
Claims21
An insurance method, comprising:
- providing a computer having an insurance processor;
- receiving, by an insurance processor, transaction data pertaining to a plurality of purchases made by a user with a financial card over a predetermined period of time, the transaction data comprising a purchase amount of each of the purchases and item data of each item associated with each of the purchases;
- providing, by the insurance processor, a list of the items of each of the purchases to the user, wherein the list comprises only the items from purchases having a purchase amount that exceeds a predetermined threshold;
- providing, to the user by a premium generator of the insurance engine, a plurality of premium quotes to insure the items on the list;
- receiving, at the insurance processor, an indication from the user regarding at least one item on the list to be insured and receiving an acceptance of the premium quote for the at least one item;
- and
- insuring the at least one item by the insurance processor.
A computer-readable medium comprising computer-readable instructions for insurance, said computer-readable instructions comprising instructions that:
- receive transaction data pertaining to a plurality of purchases made by a user with a financial card over a predetermined period of time, the transaction data comprising a purchase amount of each of the purchases and item data of each item associated with each of the purchases;
- provide a list of the items of each of the purchases to the user, wherein the list comprises only the items from purchases having a purchase amount that exceeds a predetermined threshold;
- provide to the user a plurality of premium quotes to insure the items on the list;
- receive an indication from the user regarding at least one item on the list to be insured and receiving an acceptance of the premium quote for the at least one item;
- and
- insure the at least one item.
An insurance system, comprising:
- at least one subsystem that receives transaction data pertaining to a plurality of purchases made by a user with a financial card over a predetermined period of time, the transaction data comprising a purchase amount of each of the purchases and item data of each item associated with each of the purchases;
- at least one subsystem that provides a list of the items of each of the purchases to the user, wherein the list comprises only the items from purchases having a purchase amount that exceeds a predetermined threshold;
- at least one subsystem that provides to the user a plurality of premium quotes to insure the items on the list;
- at least one subsystem that receives an indication from the user regarding at least one item on the list to be insured and receiving an acceptance of the premium quote for the at least one item;
- and
- at least one subsystem that insures the at least one item.
Dependencies are inferred from the claim text.