Patent ID: 8725540

Claim:
An automated method of evaluating an insurable risk and providing an immediate binding insurance offer to cover that risk, comprising the steps of: a. collecting self-reported information relating to the insurable risk from an applicant via an input/output interface of a single point of sale kiosk; b. collecting a plurality of measurements of objective information relating to the insurable risk from the applicant by measuring, in a single session at the single point of sale kiosk, physiological aspects of the applicant using one or more medical measuring devices, at least one of the one or more medical measuring devices performing the measurement of a physiological aspect by obtaining a biological sample from the applicant and performing medical analysis using the sample; c. providing the self-reported information and the objective information collected in the single session to an automated underwriting system located in the single point of sale kiosk; d. evaluating, rating and underwriting, at the point of sale kiosk, the insurable risk of the applicant by performing an individualized risk analysis calculation at the automated underwriting system located in the single point of sale kiosk based on the self-reported information and the objective information, the evaluating, rating and underwriting of the insurable risk being performed without forwarding the self-reported and objective information to an external risk analysis system; and e. providing an insurance offer relating to a specific insurance product based on the rated insurable risk for review and acceptance by the applicant.