Patent ID: 8577698
Filing Date: 2013-11-05
Classification: G06Q

Abstract:
1. A method for providing price insurance for retail consumers of a product, the method configured for execution on a computing device, the method comprising: defining one or more price insurance policies comprising account information for respective retail consumers of a product and insurance policy limits comprising a defined product, a defined price ceiling for the product, and a defined limit on quantity of product covered; receiving at a computing device from a point-of-sale terminal in communication with a product distribution device purchase information concerning a retail purchase transaction for the product by an insured one of the plurality of retail consumers, the purchase information comprising an account identifier, a measurement of product quantity purchased or to be purchased, and a retail price for the product; determining by the computing device whether the retail price exceeds the price ceiling of the insurance policy associated with the one of the plurality of retail consumers; and in response to determining that the retail price for the product information exceeds the price ceiling of the insurance policy associated with the one of the plurality of retail consumers, transmitting from the computing device to the point-of-sale terminal a signal configured to cause the point-of-sale terminal to adjust the retail price to an adjusted price not greater than the price ceiling.