The current market leaders could run into some challengers.
By Targeted News Service
ALEXANDRIA, Va., Dec. 13 -- Hartford Fire Insurance, Hartford, Conn., has been assigned a patent (8,332,246) developed by four co-inventors for a "method and system for processing of data related to underwriting of insurance." The co-inventors are Oai Tran, Piscataway, N.J., Lisa Napolitan, West Islip, N.Y., Stanley Nutkiewicz, Fair Lawn, N.J., Jane Statsky, Edison, N.J., and Richard Stoller, Brooklyn, N.Y.
The abstract of the patent published by the U.S. Patent and Trademark Office states: "This invention relates generally to a computer system and method for integrating insurance policy underwriting. In one aspect it integrates the older legacy insurance policy generating systems to on line systems where users access the system through browsers. The computer system to perform the process of underwriting, rating, quoting, binding, and booking an insurance policy includes browsers, data bases, processors and a dispatcher that parses the information to select an insurance process. Suitable software programs review messages received from users to determine if certain messages are less than a prescribed limit. If a message is greater than the limit, then the message is parsed into a header information and one or more data fields whereby the header information is provided to a legacy processor and to policy generation software for further creation of policy related information and documentation."
The patent application was filed on July 24, 2012 (13/556,877). The full-text of the patent can be found at http://patft.uspto.gov/netacgi/nph-Parser?Sect1=PTO2&Sect2=HITOFF&p=1&u=%2Fnetahtml%2FPTO%2Fsearch-bool.html&r=1&f=G&l=50&co1=AND&d=PTXT&s1=8,332,246&OS=8,332,246&RS=8,332,246
Written by Satyaban Rath; edited by Hemanta Panigrahi.