Patent ID: 8073716

Claim:
A method of processing and managing the underwriting of an insurance contract, the method comprising: receiving, from a terminal operated by an underwriter registered in a user database comprising a plurality of user entries, a request for approval of the insurance contract, the request for approval of the insurance contract including a plurality of underwriting parameters of the insurance contract; reading, from a user entry in the user database corresponding to the registered underwriter, a plurality of underwriting criteria corresponding to the registered underwriter; determining, using a computer program, whether the underwriting parameters of the insurance contract satisfy the underwriting criteria corresponding to the registered underwriter; providing, to the terminal, an interface including a status message indicating that at least one underwriting criterion is not satisfied, if at least one underwriting criterion is not satisfied; providing an underwriting failure message to a managing underwriter identified in the user entry corresponding to the registered underwriter, if at least one parameter of the insurance contract does not satisfy the underwriting criteria in the user entry corresponding to the one of the plurality of registered underwriters; reading, from a user entry in the user database corresponding to the managing underwriter, a plurality of underwriting criteria corresponding to the managing underwriter; determining whether the underwriting parameters of the insurance contract satisfy the underwriting criteria corresponding to the managing underwriter; and providing a status message to the managing underwriter indicating that at least one underwriting criterion corresponding to the managing underwriter is not satisfied, if at least one underwriting criterion corresponding to the managing underwriter is not satisfied.