Techniques for underwriting insurance policies using web-centric insurance management system

a management system and insurance technology, applied in the field of insurance management system technology, can solve the problems of large amount of wasted and/or duplicate effort and inefficiency in the insurance underwriting and management process, significant amount of duplication of efforts and inefficiency, and achieve the effect of convenient creation of a new application and efficient and secur

US20090089101A1Inactive Publication Date: 2009-04-02ORACLE INT CORP
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Patent Information

Authority / Receiving Office
US · United States
Patent Type
Applications(United States)
Current Assignee / Owner
Publication Date
2009-04-02
Estimated Expiration
Not applicable · inactive patent

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Abstract

A scalable, adaptable, modular, and web-centric Insurance Back-Office System (IBOS) for serving the needs of carriers, agencies, agents, and service providers in the insurance industry is disclosed. The IBOS provides a framework for allowing web-centric collaboration among agents, agencies, carriers, and service providers, using applications that manage applicants, cases, and policies in an efficient and secure manner. The IBOS infrastructure is designed to facilitate the creation of a new application, module, tool, or view in a simplified manner. The web-centric application includes a first module for creating a case and a second module for tracking the case after the case has been submitted to the carrier for consideration.
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Description

[0001] This application claims priority from a provisional patent application entitled “Insurance Management Systems and Methods Therefor”, by inventor Safaa Hashim, filed Sep. 19, 2003, which is incorporated by reference.BACKGROUND OF THE INVENTION

[0002] Insurance is a complex field. The underwriting of an insurance contract between an applicant and an insurance carrier often involves a plurality of participants, each of whom plays a well-defined role in the complex underwriting process. To facilitate discussion, FIG. 1 depicts in a simplified diagram the various participants involved in a typical insurance sales and underwriting process. In FIG. 1 and the figures herein, a life insurance contract for a natural person is employed as an example. However, the information disclosed herein applies equally well to other types of insurance contract and / or to other types of insurance customer, i.e., irrespective whether the customer is a natural person or a legal or physical entity such as ...

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Embodiment Construction

[0048]The present invention will now be described in detail with reference to a few preferred embodiments thereof as illustrated in the accompanying drawings. In the following description, numerous specific details are set forth in order to provide a thorough understanding of the present invention. It will be apparent, however, to one skilled in the art, that the present invention may be practiced without some or all of these specific details. In other instances, well known process steps and / or structures have not been described in detail in order to not unnecessarily obscure the present invention.

[0049]In accordance with one aspect of the present invention, there is provided a scalable, adaptable, modular, and web-centric Insurance Back-Office System (IBOS) for serving the needs of carriers, agencies, agents, and service providers in the insurance industry. The IBOS provides a framework for allowing web-centric collaboration among agents, agencies, carriers, and service providers, ...