Abstract:
An integrated quote system and method for generating quotes for multiple insurance products is disclosed. Quotes for multiple insurance products are integrated into a single, easy-to-read document. In an example embodiment, an agent enters a client&#39;s personal data into a quoting tool of an agent&#39;s workbench application. The client&#39;s data is automatically applied to every insurance product or plan the agent quotes for the client or client&#39;s family. Each quoted product is assigned a quote reference number and quotes for multiple products are linked using a quote identifier. A “recalculate” option updates any relevant calculations allowing the agent to review relevant financial details before generating a final quote. Products categories may be expanded or minimized as the agent navigates through insurance offerings so that only relevant information is displayed. Additional features and functionality support an online application process for each quoted product.

Description:
CROSS-REFERENCE TO RELATED APPLICATIONS 
       [0001]    This application claims priority to U.S. Provisional Application Ser. 61/785,870, filed Mar. 14, 2013 and titled INTEGRATED INSURANCE PRODUCT QUOTE SYSTEM AND METHOD, the contents of which is incorporated herein by reference. 
     
    
     BACKGROUND OF THE INVENTION 
       [0002]    When researching insurance products, many consumers are interested in learning whether they will qualify for discounts by purchasing more than one product from an insurance company. In some instances, a consumer may want or need coverage that is available only under multiple products or plans. For example, in the health insurance industry, medical, dental, vision, and life insurance is typically offered through separate policies underwritten by a single insurance company. Coverage for all areas, therefore, requires the purchase of multiple products. In other instances, a consumer may be willing to cancel one or more existing policies with one or more insurers and enter into new policies with a new insurer in order to receive better rates or discounts under a multi-policy program. Regardless of the motivation, when contacting insurers, consumers are often interested in learning about all of the products and services each insurer offers as well as the costs and applicable discounts. 
         [0003]    In the health insurance industry, insurance premiums for different types of insurance products depend on a number of factors. For example, medical insurance premiums are typically based on details such as the insured&#39;s age, sex, location, and whether the insured has dependents that will be covered under the policy. Deductible and co-insurance options may vary as well. Quotes are personalized based on numerous factors and therefore, can be time consuming for agents of insurance companies to generate. Insurance agents typically collect the relevant data from the prospective insured and enter it in a computerized insurance underwriting application that generates a quote based on the prospective insured&#39;s personal data, deductibles, etc. Although underwriting applications facilitate the process of generating quotes, they are typically “policy-specific” and therefore, capable of generating quotes for only one type of policy. If a prospective insured is interested in more than one type of policy, the agent typically must re-enter the same data in different underwriting applications and generate each quote separately. Because separate applications are used to generate each quote, the layout and presentation of relevant information for each quote may be different, even though the quote is from the same insurer. The consumer, therefore, may have difficulty in finding and reviewing relevant details in each quote and understanding the complete package offered by the insurer. 
         [0004]    There is a need for an application that generates an integrated quote for multiple insurance products. There is a need for an automated system and method that streamlines the quote process for multiple insurance products. There is a need for an integrated quote generation system and method that reduces data entry requirements and that generates quotes that are clear, concise, and easy for consumers to understand. 
       SUMMARY OF THE INVENTION 
       [0005]    The present disclosure is directed to an integrated quote system and method for generating quotes for multiple insurance products. Quotes for multiple insurance products are integrated into a single, easy-to-read document. In an example embodiment, an agent enters a client&#39;s personal data into a quoting tool of an agent&#39;s workbench application. The client&#39;s data is automatically applied to every insurance product or plan the agent quotes for the client or client&#39;s family. Each quoted product is assigned a quote reference number and quotes for multiple products are linked using a quote identifier. A “recalculate” option updates any relevant calculations allowing the agent to review relevant financial details before generating a final quote. Products categories may be expanded or minimized as the agent navigates through insurance offerings so that only relevant information is displayed. Additional features and functionality support an online application process for each quoted product. 
         [0006]    The disclosed integrated quote system and method generates quotes that are easier for consumers to review and understand. The integrated quote system and method reduces data entry requirements and as a result, increases agent productivity. 
     
    
     
       BRIEF DESCRIPTION OF THE DRAWINGS 
         [0007]      FIG. 1  is a “quote generation” start page according to an example embodiment; 
           [0008]      FIGS. 2A and 2B  are “generate a quote” pages according to an example embodiment; 
           [0009]      FIG. 3  is a product category page according to an example embodiment; 
           [0010]      FIGS. 4A and 4B  are “products selection” pages according to an example embodiment; 
           [0011]      FIGS. 5A-5C  are “stand-alone products” pages according to an example embodiment; 
           [0012]      FIGS. 6A and 6B  are “optional benefits details” pages according to an example embodiment; 
           [0013]      FIG. 7A  is a “save quote” page and  FIG. 7B  is a “send quote” page according to an example embodiment; 
           [0014]      FIGS. 8A and 8B  are “customer search” pages according to an example embodiment; 
           [0015]      FIG. 9A  is a “quotes” page according to an example embodiment; 
           [0016]      FIGS. 9B and 9C  are “applications” pages according to an example embodiment; 
           [0017]      FIGS. 10A and 10B  are “agent initiated applications” pages according to an example embodiment; 
           [0018]      FIGS. 11A and 11B  are online application pages according to an example embodiment; 
           [0019]      FIGS. 12A and 12B  are application checklist pages according to an example embodiment; and 
           [0020]      FIGS. 13A-13C  are sample quote pages according to an example embodiment. 
       
    
    
     DETAILED DESCRIPTION 
       [0021]    An integrated quote system and method supports generation of a single quote for multiple insurance products. An agent or other user interacting with the integrated quote application can quote multiple insurance products or plans at the same time. A quote identifier is used to link all products included in a single quote. 
         [0022]    Referring to  FIG. 1 , a “quote generation” start page according to an example embodiment is shown. In an example embodiment, the quote generation process may begin with entry of a zip code in a number field and selection of a “go” option  100 . Alternatively, a user may select a “generate a quote” option  102 . 
         [0023]    Referring to  FIG. 2A-2B , “generate a quote” pages according to an example embodiment are shown. Referring to  FIG. 2A , the user is prompted to enter an applicant&#39;s zip code  200 . If a zip code was entered on the start page as shown in  FIG. 1 , this field may be auto-populated. The specification of a zip code allows further options in the application to be limited according the specified zip code. Because insurance is regulated by state, it is important that an agent quote only products sold in the applicant&#39;s state. Additionally, the user may be prompted to assign an agent to the quote  202 . Referring to  FIG. 2B , the agent may be identified by name or number  204  or the user may assign him or herself as the agent by selecting an “assign myself as the writing agent” option  206 . 
         [0024]    Referring to  FIG. 3 , a product category page according to an example embodiment is shown. In an example embodiment, the supported products are in the METHOD health insurance industry and include medical, dental, and vision products  300 . The user may select one of the listed product categories to continue the quote generation process. The product categories are listed in Table 1. 
         [0000]    
       
         
               
             
               
               
             
           
               
                 TABLE 1 
               
             
             
               
                   
               
               
                 Product Options 
               
             
          
           
               
                 Category 
                 Description 
               
               
                   
               
               
                 Major Medical 
                 Individual Major Medical and optional benefits available in the specified zip code. 
               
               
                 Short Term Medical 
                 If available and depending on state requirements, maximum duration (e.g., six or 
               
               
                   
                 12 month) benefit. 
               
               
                 None 
                 Stand-alone dental, stand-alone vision and financial protection products available 
               
               
                   
                 in the specified zip code. 
               
               
                   
               
             
          
         
       
     
         [0025]    In an example embodiment, optional benefits under a major medical plan or short term medical plan include dental, vision, and financial protection products. Detailed information for each product as well as locations where specific products may be sold may be stored in one or more databases. As the user makes selections, data responsive the user&#39;s selections is retrieved from the databases and appropriate calculations are made based on the user&#39;s selections, applicant data, product plan data, etc. 
         [0026]    Detailed information about products, their characteristics, availability, presentation, how and where they can be sold, legal restrictions, legal requirements, comparison points, rules for applicant eligibility, and enrollment data collection requirements are stored in database tables and documents. For example, to determine scope of possible products and available product combinations, all products are weighed against availability and eligibility rules. For example, the following items may be considered: location (state, zip code, county); business defined geographical areas (service areas); time (current date time, product effective date); marketing campaigns; workflows; and agent legal right to sell the product. Once the available products are determined, then additional product detail is available to group the products and provide additional aspect parameters that help describe, classify, and organize presentation. Sample product configuration tables are shown in Table 2. 
         [0000]    
       
         
               
             
               
               
             
           
               
                 TABLE 2 
               
             
             
               
                   
               
               
                 Sample Direct Product Configuration Tables 
               
             
          
           
               
                 Table Name 
                 High Level Definition 
               
               
                   
               
               
                 Characteristics 
                 Product Characteristic 
               
               
                 AgentSeries 
                 Agent Availability 
               
               
                 AgentSeries_Agents 
                 Agent Availability 
               
               
                 Attributes 
                 Product Attributes 
               
               
                 AttrValueGroups 
                 Product Attributes 
               
               
                 AttrValues 
                 Product Attributes 
               
               
                 Availability 
                 Availability Definitions 
               
               
                 Campaigns 
                 Marketing Campaign 
               
               
                 Campaigns_InsProducts 
                 Marketing Campaign 
               
               
                 Campaigns_InsProducts_WorkFlowTypes 
                 Marketing Campaign 
               
               
                 Campaigns_InsProducts_WorkFlowTypes_States 
                 Marketing Campaign 
               
               
                 Campaigns_WorkFlows 
                 Marketing Campaign 
               
               
                 Conditions 
                 Rule Definitions 
               
               
                 ConditionValues 
                 Rule Definitions 
               
               
                 Counties 
                 Geographic Definitions 
               
               
                 DistributionChannelGroups 
                 Partners 
               
               
                 DistributionChannels (*for Prod to Prod bricks 
                 Partners 
               
               
                 only!) 
               
               
                 eGroups 
                 Product Grouping 
               
               
                 eGroups_InsProducts 
                 Product Grouping 
               
               
                 FixedListValues 
                 General Definitions 
               
               
                 Fulfillments 
                 Fulfillment Properties 
               
               
                 Fulfillments_InsProducts 
                 Fulfillment Properties 
               
               
                 Geographics 
                 Geographic Definitions 
               
               
                 GeographicsMultipleCities 
                 Geographic Definitions 
               
               
                 GeographicsMultipleCounties 
                 Geographic Definitions 
               
               
                 GeographicsMultiZipcodes 
                 Geographic Definitions 
               
               
                 InsProductBuildGroups 
                 Product Detail 
               
               
                 InsProductBuilds 
                 Product Detail 
               
               
                 InsProductClasses 
                 Product Detail 
               
               
                 InsProducts 
                 Product Detail 
               
               
                 InsProducts_CalcLocations 
                 Product Detail 
               
               
                 InsProducts_ComputationSeq 
                 Product Detail 
               
               
                 InsProducts_Fees 
                 Product Detail 
               
               
                 InsProducts_InsProductClasses 
                 Product Detail 
               
               
                 InsProducts_ModalFactors 
                 Product Detail 
               
               
                 InsProducts_PaymentOptions 
                 Product Detail 
               
               
                 LogicTags_Areas 
                 Rule Definitions 
               
               
                 PaymentRecurrentRates 
                 Product Detail 
               
               
                 RestrictionFilters 
                 Rule Definitions 
               
               
                 Rules 
                 Rules Engine 
               
               
                 Rules_Attributes 
                 Rules Engine 
               
               
                 Rules_InsProducts 
                 Rules Engine 
               
               
                 ServiceAreas_ZipCodes 
                 Geographic Boundaries 
               
               
                 ServicesAreas 
                 Geographic Boundaries 
               
               
                 ServicesAreas_Counties 
                 Geographic Boundaries 
               
               
                 States 
                 States 
               
               
                 Templates 
                 Product Comparison 
               
               
                 Templates_Characteristics 
                 Product Comparison 
               
               
                 TemsActions 
                 Rules Engine - Rules/Action Definition Detail 
               
               
                 TemsActionSets 
                 Rules Engine - Rules/Action Definition Detail 
               
               
                 TemsActionSets_TemsActions 
                 Rules Engine - Rules/Action Definition Detail 
               
               
                 TemsActionTypes 
                 Rules Engine - Rules/Action Definition Detail 
               
               
                 TemsConditionAttributes 
                 Rules Engine - Rules/Action Definition Detail 
               
               
                 TemsConditionAttributeValueLists 
                 Rules Engine - Rules/Action Definition Detail 
               
               
                 TemsConditionOperators 
                 Rules Engine - Rules/Action Definition Detail 
               
               
                 TemsConditionOperators 
                 Rules Engine - Rules/Action Definition Detail 
               
               
                 TemsConditionOperators_Postfix 
                 Rules Engine - Rules/Action Definition Detail 
               
               
                 TemsConditions 
                 Rules Engine - Rules/Action Definition Detail 
               
               
                 TemsConditionSets 
                 Rules Engine - Rules/Action Definition Detail 
               
               
                 TemsConditionSets_TemsConditions 
                 Rules Engine - Rules/Action Definition Detail 
               
               
                 TemsEvents 
                 Rules Engine - Rules/Action Definition Detail 
               
               
                 TemsEventsActionSets 
                 Rules Engine - Rules/Action Definition Detail 
               
               
                 TemsEventsConditionSets 
                 Rules Engine - Rules/Action Definition Detail 
               
               
                 TemsEventTypes 
                 Rules Engine - Rules/Action Definition Detail 
               
               
                 TemsRuleEngineExpressionLists 
                 Rules Engine - Rules/Action Definition Detail 
               
               
                 TemsRuleEngineExpressionListsDirect 
                 Rules Engine - Rules/Action Definition Detail 
               
               
                 TemsRules 
                 Rules Engine - Rules/Action Definition Detail 
               
               
                 TemsRules_TemsActions 
                 Rules Engine - Rules/Action Definition Detail 
               
               
                 TemsRules_TemsActionSets 
                 Rules Engine - Rules/Action Definition Detail 
               
               
                 TemsRules_TemsConditions 
                 Rules Engine - Rules/Action Definition Detail 
               
               
                 TemsRules_TemsConditionSets 
                 Rules Engine - Rules/Action Definition Detail 
               
               
                 TextTags 
                 UI Reference Tags 
               
               
                 Underwriters 
                 Underwriting Classification 
               
               
                 Workflows 
                 Workflows 
               
               
                   
               
             
          
         
       
     
         [0027]    The user may view the products and plans for the selected product category by selecting the “choose” tab  302 .  FIGS. 4A and 4B  are “products selection” pages according to an example embodiment. Referring to  FIG. 4A , a “products list” page according to an example embodiment is shown. The products list page lists details for each product that meets the selection criteria. In an example embodiment, the user may select up to four products within the product category. If the selected product is a medical product, optional benefits may be added by selecting a “customize and compare” option  400 . Referring to  FIG. 4B , an “optional benefits” page according to an example embodiment is shown. The optional benefits that may be selected with a primary product are shown and user may select one or more optional benefits from the page. 
         [0028]      FIGS. 5A-5C  are “stand-alone products” pages according to an example embodiment. Referring to  FIG. 5A , a first “stand-alone products” page according to an example embodiment is shown. The pages provide functionality for combining products for a quote. A list of available products is displayed along with check boxes to permit the user to select one or more products. Products the agent is not certified to sell are “disabled” or “grayed” so the user cannot select them. In an alternative embodiment, the products may be excluded from the page that is generated. Selection of certain products (e.g., a supplemental life/memorial fund life insurance product) may result in prompts for additional information such as an effective date as illustrated in  FIG. 5B . 
         [0029]    Referring to  FIG. 5C , a “prospects” page according to an example embodiment is shown. On the prospects page, the user is prompted to enter information about each individual that may be covered by the plan. To facilitate calculation of a quote for all products and persons included in the quote, the user is prompted to enter each person&#39;s date of birth. The date of birth is used to calculate an accurate quote due to the actuarial algorithms that apply to the various plans. Some plans calculate based on nearest age, not attained age, which requires logic to determine if the prospective insured is past his or her half birthday. These rules are applied simultaneously along with more traditional methods of rating based on attained age or age bands. There are also age eligibility rules that are applied and that require a more accurate representation of age than a year. Additional applicant data such as the applicant&#39;s name, contact information, occupation, etc. may be entered and stored in a database using other features and functionality of the application, using a separate application such as a contact management application. 
         [0030]      FIGS. 6A-6B  are “optional benefits details” pages according to an example embodiment. Referring to  FIG. 6A , a first “optional benefits details” page according to an example embodiment is shown. Details related to the selected optional benefits are presented. In addition, the user is prompted to specify which prospects should be included in the plan. Referring to  FIG. 6B , a “prospects” page according to an example embodiment is shown. The user may change the prospects selections  600  and select a “recalculate” option  602 . Payments, premiums, fees, etc. are recalculated and updated on the page based the addition or deletion of a prospect. Finally, the user may select an “Apply now”  604  option to initiate an application process. 
         [0031]    Referring to  FIG. 7A , a “save a quote” page according to an example embodiment is shown. The user enters the applicant&#39;s name and an email address if the applicant is interested in receiving the quote by email. Referring to  FIG. 7B , a “send quote” page according to an example embodiment is shown. The user may enter a personal message to send with the quote. 
         [0032]      FIGS. 8A and 8B  are “customer search” pages according to an example embodiment. Referring to  FIG. 8A , a first “customer search” page according to an example embodiment is shown. In an example embodiment, the search criteria includes date data  800 , quote identifying data (e.g., name, quote identifier, zip code, state, or application identifier)  802 , and a status indicator  804 . A sub-status indicator may be selected from a list  806 . Referring to  FIG. 8B , a search results page according to an example embodiment is shown. Quotes that match the search criteria are displayed and may be organized based on a quote identifier (“Quote ID”)  808 . As indicated in  FIG. 8B , quotes for different products may be linked to a single quote identifier. The user may view details for each quote by selecting a quote reference number (“Quote Ref#”)  810 . There is a one-to-many relationship between the quote identifier and quote reference number as shown below. 
         [0033]    Quote ID:
       Quote Reference Number 1   Quote Reference Number 2   Quote Reference Number 3       
 
         [0037]    Each quote reference number holds one plan (application), and the plans (applications) are grouped together by the Quote Identifier. 
         [0038]    Referring to  FIG. 9A , the user may select a “quotes” tab to view quotes that have been “generated and saved” or quotes that have been “opened and viewed.”  FIGS. 9B and 9C  are “applications” pages according to an example embodiment. Referring to  FIG. 9B , the user may select an “applications” tab to view applications that have been submitted, canceled or withdrawn, denied, or issued. If the user selects the “submitted” option, a list of quote identifiers and related quote reference numbers is displayed as shown in  FIG. 9C . 
         [0039]      FIGS. 10A and 10B  are “agent initiated applications” pages according to an example embodiment. Referring to  FIG. 10A , a first “agent initiated application” page according to an example embodiment is shown. The page displays all of the quotes a specified agent has initiated. If the user selects the “+” symbol next to a quote identifier, all of the quotes associated with the quote identifier are listed as shown in  FIG. 10B . For each quote, the quote reference number, applicant, product description, and other details are shown. 
         [0040]    Referring to  FIGS. 11A and 11B , online application pages according to an example embodiment are shown. The user may access the initial online application page by selecting a quote reference identifier from the list of agent initiated applications as shown in  FIG. 10B . Alternatively, the user may select an “Apply now”  604  option as shown in  FIG. 6B  to initiate an application process. 
         [0041]    For each product, the application page displays the product information, the monthly and initial payment and the status of the application  1100 . The user is also presented with options to start or continue the application process  1102 . The user may select a symbol by the quote reference number to view details for plan  1104 . Referring to  FIG. 11B , the plan details may include the individuals covered by the plan, their requested effective date, the deductibles or benefit amounts, and a link to a benefits summary for the product. 
         [0042]    Referring to  FIG. 12A , an “agent initiated application” page may be used to access application details. A list of selectable quote reference numbers may be displayed. The user may select a quote reference number to view an “application checklist” page as shown in  FIG. 12B . The checklist page displays the product information and status information for the each quote including the applicable step in the application process  1200 . 
         [0043]    Referring to  FIGS. 13A-13C , sample quote pages according to an example embodiment are shown. Referring to  FIG. 13A , in an example embodiment, the quote comprises a quote identifier  1300  and a link to benefit details for each policy or plan that is quoted. The quote shows the total premium for each of the plan options. Referring to  FIGS. 13B and 13C , benefit details applicable to each selected product and/or optional benefit categories are shown. The details allow the applicant to compare the product offerings with a single product category as well as between product categories. 
         [0044]    To generate a quote, baseline information from the user (typically the target applicant for the quote and other individuals to be included in the quote (e.g., include the spouse and kids) and where he/she lives (state, zip, and county)) is provided to a quote generation process. Additional details may also be requested such as the ages of the applicants, the gender of the applicants, and perhaps contact related information such as email address or mailing address. Circumstance information may also be included such as identifying information for the selling agent and details regarding the current marketing campaign in process. Typically, the circumstance information determined or derived without user involvement based on who and how the quote request was initiated. For example, when an agent logs in to identify him- or herself, the quote application checks state licensing information to identify which products they are permitted to sell. That information is retained and used as additional input rules for the quote process to determine the products that are available for sale. 
         [0045]    The above information serves as input into the quote generation process which determines which products are available for sale along with all price points for every related optional circumstance. If the volume of return information from the process is large, a reduced set of information is made available but with sufficient identifiers (e.g., product identifier, benefit identifier, campaign identifier, grouping identifiers) and details so that when the user requests additional information, it can be retrieved seamlessly and in real time. This information is made available with automated services (e.g., web service). For integrated presentation and distribution, the user interface format typically is made available on a website but may be applied off line as well. 
         [0046]    With all the details from the quote generation process returned and presented in a user interface, the user requesting the quotes also has the ability to alter the baseline information for the respective quotes during presentation of the products of interest in an intuitive user interface thus enabling the ability to transition desired selections immediately all the while seeing real time updates in pricing based on selections for each product line. 
         [0047]    At any point, the user can save the quote information for later retrieval by selecting a “save” option. When the save request is initiated, the system reviews the information the user has provided and builds a respective quote for each product the user has selected and then persists that information to a database for later retrieval (so the user can pick up where they left off). The saved quote can also be referenced in communications through a set of identifiers for each individual quote or collectively as a group. 
         [0048]    To support working with quotes as a group, a grouping structure is also available and persisted to the database along with the individual quotes. This structure binds all the individual quotes together with the common unique quote identifier. The unique quote identifier allows the system to work with all the quotes together as a whole or treat each quote individually but allow the sharing of common information across the group of quotes. Once the quoting process has completed and enrollment begins, each individual quote is examined and a respective enrollment application is started. These new enrollment applications have their own unique identifier and are bound to the respective quote by reference. They are also added to the group so that all quotes and enrollment applications are bound together individually and collectively. As the quotes are bound together with the enrollment applications, enrollment applications can be constructed and completed at the same time. Common information within the group can be used on each individual enrollment application dramatically reducing data collection efforts for all the applications as a whole. Also, in the process of enrollment, collection information and information changes for the individual application and/or applicant can be applied and shared with other applications within the group as needed. 
         [0049]    While certain embodiments of the disclosed integrated insurance product quote system and method are described in detail above, the scope of the invention is not to be considered limited by such disclosure, and modifications are possible without departing from the spirit of the invention as evidenced by the claims. For example, elements of the user interface and page layouts may be varied and fall within the scope of the claimed invention. Various aspects of user interactions and presentation of data may be varied and fall within the scope of the claimed invention. One skilled in the art would recognize that such modifications are possible without departing from the scope of the claimed invention.