Importance

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Abstract

A system for vending insurance policies includes stand-alone, interactive self-service terminals coupled to a central office over a communication link. The terminals are normally off-line, but periodically are placed on line for transmitting data to, and updates from, the central office. The terminals, which include a microprocessor, data storage and printers, are programmed to conduct a dialogue with a customer to establish a customer's eligibility, as to age and underwriting criteria, for a policy, quoting premiums, and soliciting a purchase decision. If purchase is elected, the customer's credit is checked and, if approved, a policy application is printed. In one embodiment, customer and company copies are printed and delivered to the customer who is instructed to keep the customer copy, sign the company copy, and direct the signed copy to the company. In a second embodiment, a signature digitizing module is used. The customer is instructed to sign on a pad of the module which digitizes and stores the signature. One copy of the application is printed and delivered to the customer and a signed copy is electronically transmitted to the company over the link or a signed copy is printed internally and kept for later pickup by the company. The terminal stores a lookup table as a continuous data stream, cuts up the data stream, and assembles words corresponding to the customer's age and a chosen coverage option. The customer then selects a term option.

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First Claim