Allstate Insurance Assigned Patent for Life Insurance Clearinghouse

ALEXANDRIA, Va., Nov. 30 -- Allstate Insurance, Northbrook, Illinois, has been assigned a patent (No. 10,489,859, initially filed Aug. 29, 2013) developed by John Rugel, Hawthorn Woods, Illinois, for life insurance clearinghouse.

The full-text of the patent can be found at http://patft.uspto.gov/netacgi/nph-Parser?Sect1=PTO1&Sect2=HITOFF&d=PALL&p=1&u=%2Fnetahtml%2FPTO%2Fsrchnum.htm&r=1&f=G&l=50&s1=10,489,859.PN.&OS=PN/10,489,859&RS=PN/10,489,859

The abstract states: "One or more devices in a life insurance clearinghouse system may be configured to store and maintain life insurance customer data and policy data in one or more life insurance databases. A life insurance clearinghouse may store, for example, customer information, policy types and terms, and coverage amounts for life insurance policies associated with multiple different life insurance providers. Various systems and devices, such as insurance provider computer hardware memory and processor systems, insurance clearinghouse computer memory and processor devices, and customer terminals, may retrieve life insurance customer data and/or policy data associated with multiple different life insurance providers, from one or more databases in a life insurance clearinghouse. The retrieved life insurance customer data and/or policy data may be analyzed and used in various life insurance determinations and functions, such as processing a life insurance application or a requested change to the coverage amount or terms of an existing policy, or determining maximum combined coverage amounts for customers."

Written by Ranjan Behera; edited by Sudarshan Harpal.