Patent ID: 8280753
Filing Date: 2012-10-02
Classification: G06Q

Abstract:
1. A method of providing a bridge life insurance policy, the method comprising: providing a processor; receiving, from a customer, a request to purchase a life insurance policy from a first organization, the life insurance policy having a coverage amount, wherein approval of the request requires completion of an external process; determining, using the processor, that a second organization, that is associated with the first organization, has had a previous relationship with the customer independent of the request to purchase the life insurance policy; determining, using the processor, based at least on financial information obtained during the previous relationship between the second organization and the customer, that the customer meets eligibility requirements for a bridge life insurance policy; defining a coverage amount for the bridge life insurance policy less than or equal to the coverage amount of the life insurance policy; issuing the bridge life insurance policy to the customer; initiating the external process required for the approval of the life insurance policy; issuing the life insurance policy upon completion of the external process; and terminating the bridge life insurance policy based upon issuance of the life insurance policy.