Patent ID: 8838498

Claim:
A system for providing a social networking platform for underwriting comprising: a processing device configured to: receive a request for a financial service from a customer, the request being received via the customer's social network; evaluate the financial risk associated with providing the financial service to the customer; after receiving the request, request the customer's consent for polling the customer's social network; in response to receiving the customer's consent, poll the customer's social network to determine one or more acquaintances associated with the customer willing to enter an underwriting agreement to assume at least a portion of the financial risk associated with providing the financial service to the customer; receive the underwriting agreement from the one or more acquaintances; prior to contacting at least one financial service provider, obtain pre-approval for the requested financial service based on the received underwriting agreement from the one or more acquaintances; contact at least one financial service provider after obtaining pre-approval for the requested financial service; provide an offer associated with the requested financial service to the customer, wherein the offer is associated with the at least one contacted financial service provider; and alert, via the social networking platform, the one or more acquaintances of a potential triggering event triggering their liability.