System and method of dispensing insurance through a computer network

Abstract

Systems and methods for facilitating the dispensing of insurance and of an insurance company selling insurance policies are provided, which may be network or Internet based, and may be managed through a general agent. Policy information from insurance companies may be received or stored. Data may be received from customers and insurance rates or quotes provided, which may be from competing companies. An instruction to purchase and payment may be received and proof of coverage, such as printing a document, may be facilitated. Data may be input directly by a customer or by an agent on behalf of the customer. The policy information, customer data, and premiums may be provided to the insurance companies. Insurance agents may advertise, and may refer customers from their own websites in exchange for commissions. The insurance offered for sale may be, automobile or specialty insurance, and may provide coverage in another country.

1 . A network-based method for facilitating the dispensing of insurance policies, comprising: 
 receiving insurance policy information, at a host, from a plurality of insurance companies, the insurance policy information including at least one of insurance rates and underwriting guidelines;    receiving, at the host, customer data from the customer, the data including at least identification of the desired type of insurance and parameters applicable to the underwriting guidelines;    obtaining, at the host, calculations of insurance rates for insurance policies from a plurality of competing insurance companies;    providing, by the host to the customer via the network, the insurance rates for the insurance policies from at least a portion of the plurality of competing insurance companies;    receiving, by the host, a selection from the customer of at least one insurance policy from the provided insurance rates and insurance policies,    wherein the plurality of competing insurance companies are required to bind coverage and provide the at least one insurance policy to the customer upon selection;    receiving, at the host from the customer via the network, instructions to purchase the selected insurance policy, along with customer financial transaction account information to facilitate payment;    facilitating, by the host, authorization of the customer financial transaction account information without involvement by the agent or the plurality of insurance companies; and    creating and distributing, by the host, the electronic proof of the bound coverage to the location of the customer.    
   
   
       2 . The method of  claim 1 , wherein the insurance provides coverage in a country other than the country in which the customer resides.  
   
   
       3 . The method of  claim 1 , wherein the country in which the customer resides is the United States, and the country wherein the insurance provides coverage is Mexico.  
   
   
       4 . The method of  claim 1 , further comprising contracting, by the host, with an agent to sell, via an agent website, insurance policies from the plurality of insurance companies in accordance with the policy information.  
   
   
       5 . The method of  claim 1 , wherein the step of receiving the customer data further comprises receiving the customer data from at least one of an agent website and an agent representative via the network.  
   
   
       6 . The method of  claim 1 , wherein the step of creating and distributing the electronic proof of the bound coverage includes printing at the location of the customer, via a printer accessed by the customer, a document providing proof of coverage.  
   
   
       7 . The method of  claim 1 , further comprising at least one of paying the insurance companies premiums and paying an insurance agent commissions.  
   
   
       8 . The method of  claim 1 , further comprising underwriting the insurance policy.  
   
   
       9 . The method of  claim 1 , wherein the insurance policy is at least one of an auto insurance policy and a specialty insurance policy.  
   
   
       10 . The method of  claim 1 , wherein the data is input into a computer by an insurance agent on behalf of the customer.  
   
   
       11 . The method of  claim 1 , further comprising receiving customer data from the customer after the customer linked to the host via a link from a non-agent website.  
   
   
       12 . The method of  claim 1 , further comprising providing authorization levels based upon account numbers associated with the plurality of insurance companies, such that the authorization levels provide an agent with various levels of at least one of access and editing capabilities.  
   
   
       13 . The method of  claim 1 , wherein the step of facilitating the electronic creation and distribution of proof of coverage to the location of the customer further comprises providing proof of coverage with at least one of scripted functions and customized information based on requirements from one of the plurality of insurance companies.  
   
   
       14 . The method of  claim 1 , wherein the step of providing the insurance rates further comprises providing the insurance rates which include opinions or extra knowledge from an agent related to the insurance companies associated with the insurance rates.  
   
   
       15 . The method of  claim 1 , wherein the step of providing the insurance rates further comprises providing the insurance rates without identifying the related insurance company providing the insurance rate.  
   
   
       16 . The method of  claim 1 , wherein the step of providing the insurance rates further comprises providing a quotation analysis report which lists statistics related to the quotes requested.  
   
   
       17 . The method of  claim 1 , further comprising receiving claims information from policyholders which is automatically transmitted to claims adjusters for processing.  
   
   
       18 . A network-based method for an agent website to facilitate the dispensing of insurance policies, comprising: 
 receiving insurance policy information, at the agent website from a host, from a plurality of insurance companies, the insurance policy information including at least one of insurance rates and underwriting guidelines;    receiving at the agent website and transmitting to the host, customer data from the customer, the data including at least identification of the desired type of insurance and parameters applicable to the underwriting guidelines;    obtaining, at the agent website from the host, calculations of insurance rates for insurance policies from a plurality of competing insurance companies;    providing, at the agent website to the customer, the insurance rates for the insurance policies from at least a portion of the plurality of competing insurance companies;    receiving at the agent website and transmitting to the host, a selection from the customer of at least one insurance policy from the provided insurance rates and insurance policies, wherein the plurality of competing insurance companies are required to bind coverage and provide the at least one insurance policy to the customer upon selection; and,    receiving at the agent website and transmitting to the host, instructions to purchase the selected insurance policy, along with customer financial transaction account information to facilitate payment, thereby causing authorization of the customer financial transaction account information without involvement plurality of insurance companies and causing the creation and distribution, by the host, of the electronic proof of the bound coverage to the location of the customer.    
   
   
       19 . The method of  claim 18 , further comprising the agent contracting with the host to sell, via the agent website, insurance policies from the plurality of insurance companies in accordance with the policy information.  
   
   
       20 . The method of  claim 18 , wherein the step of receiving the customer data further comprises receiving the customer data from an agent representative via the network.