Patent Issued for Multiple Product Quoting (USPTO 9652805)
By a
The patent's inventors are Clawson, II, William L. (
This patent was filed on
From the background information supplied by the inventors, news correspondents obtained the following quote: "This application relates to insurance, and more particularly to automated insurance bundling.
"Applying for insurance may be an involved process. It includes providing demographic information, driving records, and other information. It can also be a slow process. After deciding on what to insure, applicants may select one or more insurance carriers. Because insurers may not evaluate the same criteria, they may require different information.
"The assessment of an applicant may be subjective. It is not uncommon for an applicant to receive different rates, different coverage levels, and different terms from different insurers. If an applicant is not prepared to complete several applications at many locations and normalize the insurance quotes they receive, they may be forced to pay higher costs because the applicants may not be able to adequately compare their policy quotes. Therefore, there is a need for a system that allows users to receive and compare multicarrier quotes that is fast, convenient, and secure. There is also a need for semi-automated or automated system that suggests insurance products based on the viability and likelihood of a user's acceptance."
Supplementing the background information on this patent, VerticalNews reporters also obtained the inventors' summary information for this patent: "An automated multiproduct quoting system allows users to receive insurance quotes from geographically remote insurance carriers at one location. The system includes an interface that may receive user data directly or through an intermediary. An on-line data acquisition system selectively passes insurance related applicant data to a record keeping system. The record keeping system includes records, each of which comprise fields that facilitate searching, sorting, and recombining the applicant data with other data. Insurance servers or controllers asynchronously transmit user data automatically to one or more insurance carriers through rules and scores that determine product selection, carrier selection, the timing of offers and/or other variables related to insurance quotes. An insurance server or program receives policy decisions and/or insurance quotes by harvesting postings from insurance sites or through receipt of quoting data and purchase data from one or more insurance carriers. The insurance servers may be configured to index multicarrier quote data in the record keeping system. Digital and/or analog link(s) may be configured to convey one or more quotations to a user.
"Other systems, methods, features, and advantages of the invention will be, or will become, apparent to one with skill in the art upon examination of the following figures and detailed description. It is intended that all such additional systems, methods, features, and advantages be included within this description, be within the scope of the invention, and be protected by the following claims."
For the URL and additional information on this patent, see: Clawson, II, William L.; Surtz, Brian J.; West, Jennifer N.. Multiple Product Quoting.
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