System and method for providing insurance coverage recommendations

Patent metadata

Field	Value
Publication number	US-10796373-B2
Application number	US-201815927490-A
Country	US
Kind code	B2
Filing date	Mar 21, 2018
Priority date	Oct 2, 2008
Publication date	Oct 6, 2020
Grant date	Oct 6, 2020

Abstract

A dynamic computer system assists users in selecting insurance coverage types and levels appropriate for their present financial circumstances. The computer system includes a graphical user interface (GUI) representative of a user's financial data and coverage recommendations. The system may further access third party data to validate and enrich coverage determinations.

First claim

What is claimed:

1. A system for delivering Web pages to Web browsers, comprising:
a computer server including a storage unit and a recommendation server, the recommendation server comprising a data input/output module, a communication module, a graphical user interface module, and a third party data module;
wherein the communication module is connected to a communications network, the communication module being in communication with at least one remote device and a plurality of external databases via the communications network;
wherein the third party data module communicates with the plurality of external databases to receive coverage guidelines for one or more coverage parameters for a property/casualty insurance policy in a plurality of states;
wherein the storage unit stores the coverage guidelines for the plurality of states in a table;
wherein the graphical user interface module renders a dynamic web-based graphical user interface on the at least one remote device;
wherein the data input/output module communicates with the at least one remote device to receive state residence information via the dynamic web-based graphical user interface;
wherein the recommendation server identifies selected stored coverage guidelines from the table corresponding to the received state residence information;
wherein the data input/output module communicates with the at least one remote device to receive financial information about a consumer's income and another class of assets via the dynamic web-based graphical user interface;
wherein the recommendation server assigns a relative weight to the consumer's income and other class of assets;
wherein the recommendation server generates one or more recommended values for the one or more coverage parameters for the property/casualty insurance policy based at least in part on the financial information about the consumer's income and other class of assets received from the at least one remote device, the relative weight assigned to the consumer's income and other class of assets, and the identified coverage guidelines from the table corresponding to the received state residence information; and
wherein the graphical user interface module displays on the dynamic web-based graphical user interface the recommended values for the one or more coverage parameters for the property/casualty insurance policy generated by the computer server.

2. The system of claim 1 , wherein the recommendation server updates the display of the recommended values for the one or more coverage parameters on the dynamic web-based graphical user interface based on changes to the consumer's financial information and/or the consumer's state residence information received from the at least one remote device.

3. The system of claim 1 , wherein the recommendation server is configured to update the recommended values for the one or more coverage parameters for the property/casualty insurance policy as the financial information about the consumer's income and other class of assets received from the at least one remote device is updated.

4. The system of claim 1 , wherein the financial information about the consumer's other class of assets received from the at least one remote device is selected from the group including home value, home equity, personal property value, retirement accounts value, and savings amount.

5. The system of claim 1 , wherein the computer server is in communication with at least one external database via the communications network;
wherein the computer server is configured to query the at least one external database for financial information about the consumer's income and other class of assets; and
wherein the computer server is configured to generate the one or more recommended values for the one or more coverage parameters for the property/casualty insurance policy based at least in part on the financial information about the consumer's income and other class of assets received from the at least one remote device and/or the financial information about the consumer's income and other class of assets queried from the at least one external database.

6. The system of claim 5 , wherein the at least one external database is a personal finance program database, a property valuation database, a motor vehicle registry database, and a credit database.

7. The system of claim 5 , wherein the computer processor is configured to supplement the financial information about the consumer's income and other class of assets received from the at least one remote device with the financial information about the consumer's income and other class of assets queried from the at least one external database.

8. The system of claim 5 , wherein the recommendation server further comprises a data validation module that validates the financial information about the consumer's income and other class of assets received from the at least one remote device by using the financial information about the consumer's income and other class of assets queried from the at least one external database.

9. A computer-implemented method for delivering Web pages to Web browsers, comprising:
providing a computer server including a storage unit and a recommendation server, the recommendation server comprising a data input/output module, a communication module, a graphical user interface module, and a third party data module;
the communication module communicating with a remote device and a plurality of external databases via a communications network;
the third party data module communicating with the plurality of external databases to receive coverage guidelines for one or more coverage parameters for a property/casualty insurance policy in a plurality of states;
the storage unit storing the coverage guidelines for the plurality of states in a table;
the graphical user interface module rendering a dynamic web-based graphical user interface on the at least one remote device;

the data input/output module communicating with the at least one remote device to receive state residence information via the dynamic web-based graphical user interface;
the recommendation server identifying selected stored coverage guidelines from the table corresponding to the received state residence information;
the data input/output module communicating with the remote device to receive financial information about a consumer's income and another class of assets via the dynamic web-based graphical user interface;
the recommendation server assigning a relative weight to the consumer's income and other class of assets;
the recommendation server generating one or more recommended values for the one or more coverage parameters for the property/casualty insurance policy based at least in part on the financial information about the consumer's income and other class of assets received from the at least one remote device, the relative weight assigned to the consumer's income and other class of assets, and the identified coverage guidelines from the table corresponding to the received state residence information; and
the graphical user interface module displaying on the dynamic web-based graphical user interface the one or more recommended values for one or more coverage parameters generated by the computer server.

10. The method of claim 9 further comprising the recommendation server updating the display of the recommended values for the one or more coverage parameters for the property/casualty insurance policy on the dynamic web-based graphical user interface based on changes to the consumer's financial information and/or the consumer's state residence information received from the at least one remote device.

11. The method of claim 9 f

Assignees

• Hartford Fire Insurance Comp

Inventors

• Diefendorf Tamara L
• Patel Pallavi J
• Mccoy Daniel F
• Bentley Kathyann

Classifications

• G06Q40/08 Primary

  Insurance · CPC title

• G06Q30/02

  Marketing; Price estimation or determination; Fundraising · CPC title