US 8,577,699 B1 · Quoting insurance premiums

Abstract

Methods and systems are disclosed for providing quotes on multiple types of insurance policies concurrently. The quotes are individually personalized rather than a class or group quote. The methods and systems significantly reduce the number of insurability questions required to obtain a quote. This reduced set of questions may be used to generate quotes on multiple policies concurrently for a given type of insurance. The methods and systems, however, are applicable to multiple types of insurance. Similarly, the quotes may be “directionally correct” quotes, or they may be provided as a range of possible premiums. Quotes for family members may also be obtained at the same time on similar insurance policies. Personal information may be automatically prefilled to the extent such information is available. Other aspects include the ability to apply for the quoted insurance policies directly from the quotes and to save the quotes for subsequent retrieval.

Claims21

Dependent claims

A system for providing a proposed insured with premium quotations on multiple types of policies for a given type of insurance, the system comprising:

at least one subsystem configured to obtain a request for premium quotation for multiple types of policies for a given type of insurance for a proposed insured;
at least one subsystem configured to:
check the validity of the request for premium quotation against a set of rules related to the type of insurance;
and
provide contact information of an insurance company when at least one rule of the set of rules has been triggered;
at least one subsystem configured to obtain coverage selections for the proposed insured for the multiple types of policies for the given type of insurance;
at least one subsystem configured to obtain responses from the proposed insured to a set of insurability questions relating to the type of insurance;
at least one subsystem including a processor configured to generate the requested quotations of premium for each of the multiple types of policies for the given type of insurance, wherein the quotations are based on the coverage selections and the responses of the proposed insured to the set of insurability questions;
and
at least one subsystem configured to present the quotations of premium for each of the multiple types of policies for the given type of insurance concurrently to the proposed insured;
wherein the policies are insurance policies.

8 more elements

A non-transitory computer-readable medium storing computer-executable instructions for providing a proposed insured with premium quotations on multiple types of policies for a given type of insurance, the instructions comprising instructions for causing a computer to:

obtain a request for premium quotation for multiple types of policies for a given type of insurance for a proposed insured;
check the validity of the request for premium quotation against a set of rules related to the type of insurance;
provide contact information of an insurance company when at least one rule of the set of rules has been triggered;
obtain coverage selections for the proposed insured for the multiple types of policies for the given type of insurance;
obtain responses from the proposed insured to a set of insurability questions relating to the type of insurance;
generate the requested quotations of premium for each of the multiple types of policies for the given type of insurance, wherein the quotations are based on the coverage selections and the responses of the proposed insured to the set of insurability questions;
and
present the quotations of premium for each of the multiple types of policies for the given type of insurance concurrently to the proposed insured;
wherein the policies are insurance policies.

6 more elements

Dependencies are inferred from the claim text.

Quoting insurance premiums

Life of this patent

Quoting insurance premiums

Life of this patent

Abstract

Claims21