Systems and methods for insurance verification

Abstract

Systems and methods for verifying insurance coverage are provided. A method may include registering data for one or more users, the data including information designating one or more insurance providers for the users. The method may further include transmitting, via a communications network, an insurance verification request to the designated insurance providers, the insurance verification indicating one or more insurance requirements for the user. The communications network may be the internet. A response to the insurance verification request from the designated insurance providers may be received via the communications network. The response may indicate whether insurance associated with the user complies with the one or more insurance requirements. One or more notifications regarding whether the insurance associated with the user complies with the one or more insurance requirements may be transmitted. The insurance verification request may be retransmitted so as to re-verify the user complies with the insurance requirements.

What is claimed is: 
     
         1 . A method for insurance verification, the method comprising:
 registering data for one or more users, the data including information designating one or more insurance providers for the users;   transmitting, via a communications network, an insurance verification request to the designated insurance providers, the insurance verification request indicating one or more insurance requirements for the user;   receiving, via the communication network, a response to the insurance verification request from the designated insurance providers, the response indicating whether insurance associated with the user complies with the one or more insurance requirements; and   transmitting, via the communication network, one or more notifications regarding whether the insurance associated with the user complies with the one or more insurance requirements.   
     
     
         2 . The method of  claim 1 , further comprising receiving a lienholder's confirmation of insurance coverage for a property in which a lien is held. 
     
     
         3 . The method of  claim 1 , further comprising creating a community for providing proof of insurance coverage to a party that does not have a direct relationship with the insurance provider. 
     
     
         4 . The method of  claim 1 , further comprising storing in a memory the response. 
     
     
         5 . The method of  claim 4 , further comprising using the stored response to automatically verify for a contracting party or a potential contracting party whether insurance associated with the user complies with the one or more insurance requirements. 
     
     
         6 . The method of  claim 1 , further comprising receiving policy information from the insurance provider for the user. 
     
     
         7 . The method of  claim 6 , further comprising designating a party for viewing the policy information. 
     
     
         8 . The method of  claim 1 , further comprising transmitting the one or more notifications to an insurance agency. 
     
     
         9 . The method of  claim 1 , further comprising transmitting the one or more notifications to an insurance broker's ERP. 
     
     
         10 . The method of  claim 1 , further comprising transmitting the one or more notifications to an electronic database. 
     
     
         11 . The method of  claim 1 , further comprising aggregating the notifications to form legal proof of coverage. 
     
     
         12 . The method of  claim 1 , further comprising combining the notification with any of a budget, a contract, or a bid to form a loan package for a bank. 
     
     
         13 . The method of  claim 1 , further comprising combining the notification with a loan draw request. 
     
     
         14 . The method of  claim 1 , further comprising combining the notification with a proof of payment request. 
     
     
         15 . The method of  claim 1 , further comprising transmitting to a contracting party a notification or a proof of providing materials and creating a burden to pay for the materials. 
     
     
         16 . The method of  claim 1 , further comprising integrating work in progress information and calculating a builder's risk premium. 
     
     
         17 . The method of  claim 1 , further comprising receiving a request for the notification from a consumer selecting a contractor from an online registry of contractors. 
     
     
         18 . The method of  claim 1 , further comprising creating industry specific versions of the insurance verification method based on industry specific insurance verification requirements. 
     
     
         19 . The method of  claim 1 , further comprising using a real time risk assessment tool to determine an amount of risk in an insured portfolio based on an objective numerical scale. 
     
     
         20 . The method of  claim 1 , further comprising importing payroll data into an application that automatically calculates a workers' compensation premium amount due based on a formula provided by an insurance carrier. 
     
     
         21 . The method of  claim 20 , further comprising transmitting the workers' compensation premium amount due from the user to the designated insurance provider. 
     
     
         22 . The method of  claim 1 , further comprising aggregating insurance information of a plurality of trade contractors that worked on a particular project to create a warranty package for a buyer of the particular project in case of a construction defect claim. 
     
     
         23 . The method of  claim 1 , further comprising transmitting a lien wavier to a contracting party. 
     
     
         24 . The method of  claim 1 , further comprising automatically transmitting a request to an insurance agent or to an insurance carrier to verify that an insurance policy is still in force prior to making a payment to a contracted party. 
     
     
         25 . The method of  claim 1 , further comprising using an audit tool to compare payments to contracted parties against an in force status of insurance required by a contract to be eligible for payment in order to produce insurance audit results. 
     
     
         26 . The method of  claim 25 , further comprising transmitting the insurance audit results to an insurance carrier.