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 a customer insurance policy for a customer, the method comprising:
 receiving, at a host, customer eligibility information applicable to eligibility guidelines for a plurality of insurance companies;   providing, by the host, insurance quotes based upon the customer eligibility information, wherein the insurance quotes relate to insurance information from at least a subset of the plurality of insurance companies, wherein the insurance information includes insurance rates and insurance coverage information;   receiving, at the host, instructions to purchase a selected insurance policy associated with one of the plurality of insurance companies;   receiving, at the host, payment for the selected insurance policy;   creating, based on the selected insurance policy, the customer insurance policy which is a bound coverage document which provides insurance coverage; and,   enabling access to the customer insurance policy at the location of the customer.   
   
   
       2 . The method of  claim 1 , wherein the customer eligibility information comprises at least one of: effective dates of coverage, type of vehicle, and value of vehicle. 
   
   
       3 . The method of  claim 1 , further comprising receiving additional information for the creating of the customer insurance policy, wherein the additional information comprises at least one of: vehicle identification number and customer address. 
   
   
       4 . The method of  claim 1 , further comprising facilitating binding of coverage for the customer insurance policy. 
   
   
       5 . The method of  claim 1 , wherein one of the plurality of insurance companies at least one of binds coverage for the customer insurance policy or authorizes another party to bind coverage. 
   
   
       6 . The method of  claim 1 , wherein the receiving payment comprises receiving payment from an agent, wherein the payment relates to multiple customer insurance policies. 
   
   
       7 . The method of  claim 1 , wherein the receiving payment comprises:
 receiving, at the host, financial transaction account information to facilitate payment for the selected insurance policy; and,   facilitating, by the host, authorization of the financial transaction account information.   
   
   
       8 . The method of  claim 1 , wherein the receiving payment comprises:
 receiving, at the host, financial transaction account information to facilitate payment for the selected insurance policy; and,   facilitating, by the host, authorization of the financial transaction account information without involvement by the plurality of insurance companies.   
   
   
       9 . The method of  claim 1 , further comprising comparing the customer eligibility information with the eligibility guidelines related to the plurality of insurance companies to determine a subset of the plurality of insurance companies which offer coverage based on the customer eligibility information. 
   
   
       10 . The method of  claim 1 , wherein the enabling access to the customer insurance policy comprises at least one of: distributing the customer insurance policy via email, sending a link to the customer insurance policy, enabling printing of the customer insurance policy and sending an email confirmation of coverage related to the customer insurance policy. 
   
   
       11 . The method of  claim 1 , wherein the plurality of insurance companies are capable of providing automotive insurance in a foreign country, wherein the foreign country is other than the country in which the customer resides. 
   
   
       12 . The method of  claim 1 , wherein the eligibility guidelines include underwriting guidelines. 
   
   
       13 . The method of  claim 1 , wherein receiving payment comprises receiving payment from at least one of an agent of the host and the customer. 
   
   
       14 . The method of  claim 1 , wherein receiving payment comprises receiving at least one of a check, transaction card payment, debit, credit, loyalty points, barter, gift card, and coupon. 
   
   
       15 . The method of  claim 1 , further comprising receiving, at the host, insurance information and eligibility guidelines from the plurality of insurance companies. 
   
   
       16 . The method of  claim 1 , further comprising obtaining, at the host, calculations of the insurance quotes for at least a subset of the plurality of insurance companies. 
   
   
       17 . The method of  claim 1 , wherein the insurance provides coverage in a country other than the country in which at least one of: the customer resides and the location of the customer. 
   
   
       18 . The method of  claim 1 , further comprising contracting, by the host, with an agent to sell, via at least one of an agent website and a host website, customer insurance policies from the plurality of insurance companies. 
   
   
       19 . The method of  claim 1 , the receiving the customer eligibility information comprises receiving the customer eligibility information from at least one of: the consumer, an agent website and an agent representative via the network. 
   
   
       20 . The method of  claim 1 , further comprising at least one of: paying the insurance premiums to the plurality of insurance companies and paying commissions to an insurance agent. 
   
   
       21 . The method of  claim 1 , further comprising underwriting the insurance policy. 
   
   
       22 . The method of  claim 1 , wherein the insurance policy is at least one of an auto insurance policy and a specialty insurance policy. 
   
   
       23 . The method of  claim 1 , further comprising providing authorization levels based upon identification codes associated with an agent, such that the authorization levels provide the agent with various levels of at least one of access and editing capabilities. 
   
   
       24 . The method of  claim 1 , wherein the customer insurance policy comprises at least one of: opinions, scripted functions and customized information based on requirements from at least one of: an agent and one of the plurality of insurance companies. 
   
   
       25 . The method of  claim 1 , further comprising receiving claims information from the customer and automatically transmitting the claims information to adjusters for processing.