REPLACEMENT INSURANCE POLICY EXCHANGE
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United States of America Patent
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N/A
Issued Date -
Feb 11, 2016
app pub date -
Aug 8, 2014
filing date -
Aug 8, 2014
priority date (Note) -
Published
status (Latency Note)
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Abstract
A process for insurance policy exchange. A client has a ceding carrier's issued policy and a distributor has a replacement policy application. The distributor has placed an order for the replacement policy with a gaining carrier. The gaining carrier employs an insurance exchange system dashboard to construct and place a relinquishment request to the ceding carrier. This informs the ceding carrier about the order and includes signed transfer request and other needed forms for the exchange. The gaining carrier reviews the relinquishment request to determine whether to approve or reject it. Then the ceding carrier employs the insurance exchange system dashboard to construct and place a disposition to the gaining carrier. This disposition includes an approval or a rejection of the relinquishment request. The insurance exchange system dashboard is a server computerized system hosted on a global communications network and provides templates for constructing the relinquishment request and the disposition.
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