Techniques For Underwriting Insurance Policies Using Web-Centric Insurance Management System

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.

What is claimed is: 
     
         1 . A system for role-based collaboration among disparate participants, comprising:
 a plurality of client devices corresponding to a plurality of participants; and   at least one centralized server communicatively coupled with the client devices, the server comprising:
 a business database programmed to store sets of business data, each set of business data associated with a corresponding process; 
 an applications database programmed to host a plurality of applications; 
 a workflow database programmed to store a workflow associated with each process, the workflow comprising a series of subtasks executed in a predefined sequence; and 
 wherein the server is programmed to:
 provide access to an application from the applications database to the plurality of participants based on each participant's identity and role, via each participant's corresponding client device; 
 enable a first participant from the plurality of participants access to functions of the application and access to a first subset of the set of business data associated with the process via the application, based on the first participant's identity, role, and association with the process; 
 enable a second participant from the plurality of participants to access, via the application, a second subset of the set of business data associated with the process based on the second participant's identity, role, and an association of the second participant with a first subtask from the series of subtasks, wherein the second subset of data is associated with the first subtask and the second participant is responsible for executing the first subtask; and 
 in response to an event associated with the completion of the first subtask, send a notification to the first participant and transition the process from the first subtask into a subsequent second subtask from the series of subtasks, wherein:
 a third participant from the plurality of participants is associated with the second subtask and responsible for executing the second subtask, and the second subtask is executed independently of the first participant; and 
 the notification enables the first participant to monitor progress of the process even though the first participant is not responsible for performing the first subtask or the second subtask. 
 
 
   
     
     
         2 . The system of  claim 1 , further comprising:
 a participant access database logically separated from the business database, the participant access database storing participant profile information including participant identity and role information;   wherein the server is further programmed to authenticate the participants based on identity and role information provided during a login sequence and the profile information stored on the participant access database.   
     
     
         3 . The system of  claim 1 , wherein the server is further programmed to:
 prior to storing the set of business data, receive an initial set of input data associated with the process;   assign a unique case identifier to the set of input data; and   store the input data along with the case identifier as the set of business data in the business database.   
     
     
         4 . The system of  claim 3 , wherein the server is further programmed to:
 receive output data from the second participant; and   update the business data based on the received output data.   
     
     
         5 . The system of  claim 1 , wherein the first subset includes at least a portion of the second subset. 
     
     
         6 . The system of  claim 1 , wherein the first participant is an agent, the first subtask comprises generating output data about a client of the agent and the event comprises providing the output data from the second participant to the third participant, and the second subtask comprises analyzing the output data. 
     
     
         7 . The system of  claim 6 , wherein the second participant is a service provider that generates the output data and the third participant is an insurance carrier and wherein analyzing the output data comprises using the output data to assess a risk associated with the client. 
     
     
         8 . The system of  claim 7 , wherein the agent is compensated for the conclusion of the process solely based on an approval of the process by the insurance carrier, and wherein the insurance carrier approves the process based on the assessed risk and an assessed premium. 
     
     
         9 . At least one non-transitory computer readable-storage medium storing instructions that, when executed by at least one processor, cause the at least one processor to:
 store sets of business data in a business database, each set of business data associated with a corresponding process;   host a plurality of applications in an applications database;   store a workflow associated with each process in a workflow database, the workflow comprising a series of subtasks executed in a predefined sequence;   provide access to an application from the applications database to the plurality of participants based on each participant's identity and role, via each participant's corresponding client device;   enable a first participant from the plurality of participants access to functions of the application and access to a first subset of the set of business data associated with the process via the application, based on the first participant's identity, role, and association with the process;   enable a second participant from the plurality of participants to access, via the application, a second subset of the set of business data associated with the process based on the second participant's identity, role, and an association of the second participant with a first subtask from the series of subtasks, wherein the second subset of data is associated with the first subtask and the second participant is responsible for executing the first subtask; and   in response to an event associated with the completion of the first subtask, send a notification to the first participant and transition the process from the first subtask into a subsequent second subtask from the series of subtasks, wherein:
 a third participant from the plurality of participants is associated with the second subtask and responsible for executing the second subtask, and the second subtask is executed independently of the first participant; and 
 the notification enables the first participant to monitor progress of the process even though the first participant is not responsible for performing the first subtask or the second subtask. 
   
     
     
         10 . The at least one non-transitory computer readable-storage medium system of  claim 9 , further comprising instructions that cause the at least one processor to:
 storing participant profile information in a participant access database logically separated from the business database, the participant profile information including participant identity and role information; and   authenticate the participants based on identity and role information provided during a login sequence and the profile information stored on the participant access database.   
     
     
         11 . The at least one non-transitory computer readable-storage medium system of  claim 9 , further comprising instructions that cause the at least one processor to:
 prior to storing, receive an initial set of input data associated with the process;   assign a unique case identifier to the set of input data; and   store the input data along with the case identifier as the set of business data in the business database.   
     
     
         12 . The at least one non-transitory computer readable-storage medium system of  claim 11 , further comprising instructions that cause the at least one processor to:
 receive output data from the second participant; and   update the business data based on the received output data.   
     
     
         13 . The at least one non-transitory computer readable-storage medium system of  claim 9 , wherein the first subset includes at least a portion of the second subset. 
     
     
         14 . The at least one non-transitory computer readable-storage medium system of  claim 9 , wherein the first participant is an agent, the first subtask comprises generating output data about a client of the agent and the event comprises providing the output data from the second participant to the third participant, and the second subtask comprises analyzing the output data. 
     
     
         15 . The at least one non-transitory computer readable-storage medium of  claim 14 , wherein the second participant is a service provider that generates the output data and the third participant is an insurance carrier and wherein analyzing the output data comprises using the output data to assess a risk associated with the client. 
     
     
         16 . The at least one non-transitory computer readable-storage medium of  claim 15 , wherein the agent is compensated for the conclusion of the process solely based on an approval of the process by the insurance carrier, and wherein the insurance carrier approves the process based on the assessed risk and an assessed premium. 
     
     
         17 . A method for role-based collaboration among disparate participants, comprising:
 storing, by a business database, sets of business data, each set of business data associated with a corresponding process;   hosting, by an applications database, a plurality of applications;   storing, by a workflow database, a workflow associated with each process in, the workflow comprising a series of subtasks executed in a predefined sequence;   providing, by a server, access to an application from the applications database to the plurality of participants based on each participant's identity and role, via each participant's corresponding client device;   enabling, by the server, a first participant from the plurality of participants access to functions of the application and access to a first subset of the set of business data associated with the process via the application, based on the first participant's identity, role, and association with the process;   enabling, by the server a second participant from the plurality of participants to access, via the application, a second subset of the set of business data associated with the process based on the second participant's identity, role, and an association of the second participant with a first subtask from the series of subtasks, wherein the second subset of data is associated with the first subtask and the second participant is responsible for executing the first subtask; and   in response to an event associated with the completion of the first subtask, sending, by the server, a notification to the first participant and transitioning, by the server, the process from the first subtask into a subsequent second subtask from the series of subtasks, wherein:
 a third participant from the plurality of participants is associated with the second subtask and responsible for executing the second subtask, and the second subtask is executed independently of the first participant; and 
 the notification enables the first participant to monitor progress of the process even though the first participant is not responsible for performing the first subtask or the second subtask. 
   
     
     
         18 . The method of  claim 17 , further comprising:
 storing, by a participant access database, participant profile information in a participant access database logically separated from the business database, the participant profile information including participant identity and role information; and   authenticating, by the server, the participants based on identity and role information provided during a login sequence and the profile information stored on the participant access database.   
     
     
         19 . The method of  claim 17 , further comprising:
 prior to storing, the server receiving an initial set of input data associated with the process;   assigning, by the server, a unique case identifier to the set of input data; and   storing, by the business database, the input data along with the case identifier as the set of business data.   
     
     
         20 . The method of  claim 19 , further comprising instructions that cause the at least one processor to:
 receive output data from the second participant; and   update the business data based on the received output data.   
     
     
         21 . The method of  claim 17 , wherein the first subset includes at least a portion of the second subset. 
     
     
         22 . The method of  claim 17 , wherein the first participant is an agent, the first subtask comprises generating output data about a client of the agent and the event comprises providing the output data from the second participant to the third participant, and the second subtask comprises analyzing the output data. 
     
     
         23 . The method of  claim 22 , wherein the second participant is a service provider that generates the output data and the third participant is an insurance carrier and wherein analyzing the output data comprises using the output data to assess a risk associated with the client. 
     
     
         24 . The method of  claim 23 , wherein the agent is compensated for the conclusion of the process solely based on an approval of the process by the insurance carrier, and wherein the insurance carrier approves the process based on the assessed risk and an assessed premium.