State Farm Mutual Automotive Insurance Assigned Patent for Insurance Application Process Providing Bound Online Coverage
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=10,460,392.PN.&OS=PN/10,460,392&RS=PN/10,460,392
The abstract states: "Methods, systems, apparatus, and non-transitory computer readable media are disclosed for providing a web-based application that allows a customer to submit relevant information for obtaining insurance policy products that may require medical underwriting. Various aspects allow a customer to use the web-based application for a variety of insurance products, which may include term, full, and/or universal life insurance policies. The web-based application simplifies the application process by filtering questions and/or prompts presented to the customer based upon a customer's specific needs, previous answers, and/or other information. Various aspects also include determining whether a customer qualifies for temporary or permanent life insurance coverage based upon a customer's information and/or answers to one or more knockout questions, and if so, providing the customer with a binding receipt of temporary insurance coverage upon payment for a period of time in which the underwriting may be completed."
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