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Systems and methods for home inventory and insurance

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Title: Systems and methods for home inventory and insurance.
Abstract: A method of operating a home inventory and insurance system includes providing a processor, providing a home inventory database coupled to the processor, and providing an insurance database coupled to the processor. The method also includes receiving data related to an item purchased by a user, determining, using the processor and the insurance database, a policy cap for an insurance policy associated with the user, and determining, using the processor and the insurance database, that adding the item to the insurance policy will result in a value of items covered by the insurance policy exceeding the policy cap by a predetermined amount. The method further includes providing, using the processor, an insurance quote for an updated insurance policy having a new policy cap greater than or equal to the policy cap plus the predetermined amount. ...


Inventors: Andre Rene BUENTELLO, Bradly Jay BILLMAN, Gail Ann BENNETT
USPTO Applicaton #: #20120095783 - Class: 705 4 (USPTO) - 04/19/12 - Class 705 
Data Processing: Financial, Business Practice, Management, Or Cost/price Determination > Automated Electrical Financial Or Business Practice Or Management Arrangement >Insurance (e.g., Computer Implemented System Or Method For Writing Insurance Policy, Processing Insurance Claim, Etc.)

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The Patent Description & Claims data below is from USPTO Patent Application 20120095783, Systems and methods for home inventory and insurance.

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CROSS-REFERENCES TO RELATED APPLICATIONS

The present application is a continuation of U.S. patent application Ser. No. 12/487,866, filed on Jun. 19, 2009, now issued as U.S. Pat. No. ______, the disclosure of which is hereby incorporated by reference in its entirety.

BACKGROUND OF THE INVENTION

Insurance is a form of risk management primarily used to hedge against the risk of a contingent loss, and may be defined as the equitable transfer of the risk of a loss, from one entity to another, in exchange for a premium. An insurer is a company that sells insurance. An insurance rate is a factor used to determine the amount, called the premium, to be charged for a certain amount of insurance coverage. Adding personal property items to an insurance policy is a manual and time consuming process and is often neglected by the owner of the items.

A home inventory of personal property items is useful in conjunction with insuring those items. A user may have a handwritten inventory, but this may be destroyed in a loss that also destroys the items. The user may store the inventory in a difficult to access location, such as a safe deposit box, which makes updating the inventory burdensome. Maintaining a home inventory is a time consuming process and therefore many people do not maintain a home inventory or keep a home inventory up to date. This may leave some of their personal property items unprotected by insurance.

SUMMARY

OF THE INVENTION

Information may be received regarding one or more items purchased or otherwise acquired by a user, and the item(s) may be added to an electronic home inventory maintained in storage by an institution system and the item(s) may be added to an insurance policy issued by the institution system.

In an implementation, the institution system may receive information about the item(s) from the merchant who sold the item(s), an appraiser, the user (e.g., who provides information by a website, by providing a receipt, etc.), from a barcode that is provided on the receipt associated with the purchase from the merchant, by a barcode generated by the user (e.g., using data from the receipt and other information from the user), and/or via data from a financial card transaction directed to the purchase of the item(s).

In an implementation, the user may be provided with a listing of the items that they have purchased or otherwise acquired using the data provided to the institution system, and can select which items are to be included in the home inventory and which items are to be added to an insurance policy.

This summary is provided to introduce a selection of concepts in a simplified form that are further described below in the detailed description. This summary is not intended to identify key features or essential features of the claimed subject matter, nor is it intended to be used to limit the scope of the claimed subject matter.

BRIEF DESCRIPTION OF THE DRAWINGS

The foregoing summary, as well as the following detailed description of illustrative embodiments, is better understood when read in conjunction with the appended drawings. For the purpose of illustrating the embodiments, there are shown in the drawings example constructions of the embodiments; however, the embodiments are not limited to the specific methods and instrumentalities disclosed. In the drawings:

FIG. 1 is a block diagram of an implementation of a system that may be used to provide home inventory and insurance;

FIG. 2 is an operational flow of an implementation of a method that may be used to provide home inventory and insurance;

FIG. 3 is an operational flow of another implementation of a method that may be used to provide home inventory and insurance;

FIG. 4 is an operational flow of another implementation of a method that may be used to provide home inventory and insurance;

FIG. 5 is an operational flow of another implementation of a method that may be used to provide home inventory and insurance;

FIG. 6 is an operational flow of another implementation of a method that may be used to provide home inventory and insurance; and

FIG. 7 is a block diagram of an example computing environment in which example embodiments and aspects may be implemented.

DETAILED DESCRIPTION

OF THE INVENTION

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Previous Patent Application:
System and method for processing payroll related insurance premiums
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Industry Class:
Data processing: financial, business practice, management, or cost/price determination
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stats Patent Info
Application #
US 20120095783 A1
Publish Date
04/19/2012
Document #
13083533
File Date
04/09/2011
USPTO Class
705/4
Other USPTO Classes
International Class
06Q40/08
Drawings
8



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