Patent ID: 11379923

Abstract:
A system and method for automatically screening applicants for disability insurance in real-time, and if the results are favorable, automatically communicating acceptances and issuing policies via wireless communication. An applicant's BMI is calculated, and the applicant is rejected if the BMI is too high or low. The applicant's prescription drug history is obtained, and the applicant is rejected if the history shows use of a drug associated with a serious medical condition. The acceptance or rejection and a premium for the insurance product may be set based upon the real-time screening results and communicated to the applicant. Additionally, an occupation class assigned to the applicant may be confirmed, a motor vehicle report for the applicant may be obtained, and an insurance information report for the applicant may be obtained. If the applicant is rejected, they may be allowed to apply for the insurance product using an alternate non-real-time process.