1 AUSTRALIA Patents Act 1990 AMERICAN INTERNATIONAL ASSURANCE COMPANY, LIMITED COMPLETE SPECIFICATION STANDARD PATENT Invention Title: System and method for processing insurance contracts based on cloud computing, and related business management tool The following statement is a full description of this invention including the best method of performing it known to us:- SYSTEM AND METHOD FOR PROCESSING INSURANCE CONTRACTS BASED ON CLOUD COMPUTING, AND RELATED BUSINESS MANAGEMENT TOOL 5 CROSS-REFERENCE TO RELATED APPLICATION 100011 This application claims priority of Taiwan application no. 100133398 filed on September 16, 2011. 10 BACKGROUND OF THE INVENTION [00021 1. Field of the Invention [00031 The present invention relates to systems and methods of processing insurance contracts, and more particularly to systems and methods that use cloud computing to process insurance contracts. 15 [00041 2. Description of the Related Art 100051 Insurance is commonly defined in laws and economics as a form of risk management aimed to compensate for the risk of a contingent loss. Insurance can be viewed as a transfer of the risk of a loss from one entity to another in exchange for payment. In order to ensure the validity of the insurance, the purchase of an insurance 20 is usually regulated by a standard operating process in which an insurance contract is established to define the duties and rights between the policyholder (i.e., owner of the insurance) and the insurer company. Documents forming the insurance contract can include an insurance application and a formal insurance policy which define the terms and clauses of the insurance. 1A 100061 In conventional prospecting methods, the sales agent of the insurance company usually needs to carry paper documents based on which insurance products can be presented and promoted to the customer. Finding the insurance product that best suits the customer's needs usually relies on the professionalism and experience of 5 the sales agent. Once the customer accepts to purchase an insurance, the sales agent needs to have the customer fill out a paper-form insurance application, and then sign it to comply with the rules prescribed by the insurance authority. The sales agent can then bring the insurance application back to the insurance company for verification. According to current methods, an office personal can then input the application data 10 into a verification computer, which can perform the requisite verification tasks. When the application data have passed the verification process, the insurance policy can be printed out, and then mailed to the policyholder. 100071 While attempts have been made by insurance companies to computerize the business operating method from the prospecting stage to generation of the insurance 15 policy, no hardware/software solutions have been found to suit the current business operating flow. Therefore, there is a need for a system that can improve the operation efficiency of the insurance business and reduce the operating cost. SUMMARY 100081 The present application describes systems and methods of processing 20 insurance contracts based on cloud computing. [0009] In one embodiment, the system comprises a verification server and a business management tool. The verification server can receive an electronic insurance application incorporating insurance data and an electronic signature, and an electronic 2 mailbox address, check whether the electronic insurance application satisfies an underwrite condition, and generate and send an electronic insurance policy to the electronic mailbox address when the underwrite condition is satisfied. The business management tool can be wirelessly connected with the verification server, and include a 5 communication unit, a tactile screen, a processing unit connected with the communication unit and the tactile screen, and a management program executable on the processing unit to: receive the input of the insurance data, the electronic signature and the electronic mailbox address via the tactile screen, generate the electronic insurance application incorporating the insurance data and the electronic signature, and 10 transmit the electronic insurance application and the electronic mailbox address to the verification server via the communication unit. [0010] In other embodiments, a method of processing an insurance contract based on cloud computing is described. The method is operated in a system including a verification server and a business management tool having a tactile screen, and 15 comprises: receiving the input of insurance data, an electronic signature and an electronic mailbox address via the tactile screen of the business management tool, through the business management tool generating an electronic insurance application incorporating the insurance data and the electronic signature and transmitting the electronic insurance application and the electronic mailbox address to the verification 20 server, determining whether the electronic insurance application satisfies an underwrite condition, and when the underwrite condition is satisfied generating an electronic insurance policy via the verification server, and sending the electronic insurance policy to the electronic mailbox address. 3 [00111 The present application also described a business management tool applying cloud computing to operate an insurance business. The business management tool comprises a communication unit, a tactile screen, a memory storing a management program, and a processing unit connected with the communication unit, 5 the tactile screen and the memory. The management program is executable on the processing unit to receive the input of insurance data and an electronic signature via the tactile screen, generate an electronic insurance application incorporating the insurance data and the electronic signature, and transmit the electronic insurance application to trigger an insurance verification process. 10 [00121 At least one advantage of the systems and methods described herein is the ability to provide a business management tool that can implement a business operating process using cloud computing. As a result, the waiting time for obtaining approval from the insurer can be reduced, and the amount of paper forms and documentation can be decreased. Accordingly, the operating process of the insurer 15 company can be improved in efficiency. BRIEF DESCRIPTION OF THE DRAWINGS 10013] Figure 1 is a block diagram illustrating one embodiment of a system of processing insurance contracts based on cloud computing; 20 [00141 Figure IA is a block diagram illustrating one embodiment of a business management tool implemented in the system of Figure 1; 4 [00151 Figure 2 is a flowchart illustrating a first part of method steps implemented to process insurance contracts in a method of operating insurance business; 100161 Figure 3 is a flowchart illustrating a second part of method steps 5 implemented to process insurance contracts in a method of operating insurance business; 100171 Figure 4 is a flowchart illustrating a third part of method steps implemented to process insurance contracts in a method of operating insurance business; 1o [00181 Figure 5 is a flowchart illustrating a fourth part of method steps implemented to process insurance contracts in a method of operating insurance business; 10019] Figure 6 is a schematic view illustrating the business management tool displaying a plurality of needs analysis queries; 15 10020] Figure 7 is a schematic view illustrating the business management tool displaying a proposal document; [00211 Figure 8 is a schematic view illustrating the business management tool displaying an unsigned electronic insurance application; 100221 Figure 9 is a schematic view illustrating the business management tool 20 displaying a signature region; and 5 [0023] Figure 10 is a schematic view illustrating the business management tool displaying an electronic insurance application duly signed. DETAILED DESCRIPTION OF THE EMBODIMENTS [00241 Referring to Figure 1, a system of processing insurance contracts based 5 on cloud computing can include a needs analysis server 1, a verification server 2, a payment processing server 3 and a plurality of business management tools 4. [00251 The needs analysis server 1 can be connected with internet 6, receive a plurality of needs parameters, and generate proposal documents. In one embodiment, the needs analysis server I can be a computer server adapted to execute a computer 10 program to perform needs analysis and access a needs analysis database. Examples of needs parameters received by the server I can include, without limitation, monthly expenses, contracted loans, other insurance amounts, age, desired investment term, etc. The needs parameters can provide information about the financial status and risk category of the policyholder. The needs analysis program can compute indicator data 15 from the needs parameters, and compare them with predetermined analysis data from the needs analysis database to generate a proposal document. [00261 The verification server 2 can receive an electronic insurance application that may include application data, an electronic signature, attached supporting evidentiary data, payment information and an electronic mailbox address. In one 20 embodiment, the verification server 2 can be a computer server adapted to execute a computer program to perform insurance verification. In alternate embodiments, the verification server 2 and the needs analysis server I can also be combined into a single computer server adapted to execute one or more computer programs to perform needs 6 analysis and insurance verification. Examples of the application data can include, without limitation, a full name, birthday, ID number, an applied type of insurance, a coverage level, health condition indicators, etc. As detailed hereafter, the electronic signature can be obtained from the business management tool 4. In one embodiment, 5 the supporting evidentiary data can be a picture file that includes a photograph of the policyholder and/or his/her ID card. The payment information can include a credit card number, and an authorization number of the credit card. [00271 The verification server 2 can check whether the application data satisfy an underwrite condition. For example, the underwrite condition can be evaluated by 10 comparing the application data against a variety of existing records of information including insurance data from an insurance association, insurance and damage data from the insurance company, specific name lists, information related to health and financial conditions, etc., to determine whether there are any irregularities. In one embodiment, the verification server 2 can connect with multiple remote server databases to perform 15 verification tasks, such as a server database of an insurance association, a server database internal to the insurance company that includes past records of insurance and damage data, databases including records of insurer's blacklists, and databases of an investigation center. Such verification tasks performed by the verification server 2 are common in current financial and insurance companies. 20 100281 Once the verification server 2 has confirmed that the insurance data satisfy the underwrite condition, an underwrite result message can be sent to the policyholder's electronic mailbox address to notify that the insurance application has passed the verification procedure. The verification server 2 can then transmit the 7 insurance data to the payment processing server 3. When the premium has been paid, the payment processing server 3 can return a signal notifying that payment has been completed. As a result, the verification server 2 can generate an electronic insurance policy, and send the electronic insurance policy to the policyholder's electronic mailbox 5 address. [00291 In one embodiment, the payment processing server 3 can be a computer server on which a software program can be run to apply a payment process. In the payment process, the payment processing server 3 can connect with multiple bank servers to perform a process of payment by credit card. As it receives payment 10 information from the verification server 2, the payment processing server 3 can exchange credit card data with the bank server. If the provided credit card number and authorization code are correct, the payment processing server 3 can send a successful payment message to the verification server 2. In addition to payment by credit cards, the payment processing server 3 can also implement other types of electronic online 15 payment tools, for example the PayPalTM or AlipayTM platforms. [00301 Referring to Figures IA and 6, each of the business management tools 4 can wirelessly connect with the needs analysis server I and the verification server 2 via the internet 6. In one embodiment, each business management tool 4 can include a communication unit 41, a tactile screen 42 that can display an image frame 421, an 20 input unit 43, a processing unit 44 and a memory 45. The processing unit 44 is respectively connected with the communication unit 41, the tactile screen 42, the input unit 43 and the memory 45. The memory 45 can store a software management program 46 executable by the processing unit 44. In one embodiment, the business 8 management tool 4 can be a tablet computer (for example, the iPadTM tablet computer sold by the company Apple Inc.), a laptop computer, or like portable electronic devices. The communication unit 41 can include a Third-Generation (3G) communication module and/or a Wi-Fi communication module that can wirelessly connect with the 5 internet 6. The tactile screen 42 can exemplary be a capacitive touch screen. The input unit 43 can exemplary include a camera provided on a front and/or rear of a tablet computer that can acquire supporting evidentiary data, such as an electronic image of an ID card and/or a photograph of the policyholder. In one embodiment, the tactile screen 42 can be able to generate an electronic signature by sensing a handwritten signature 10 directly inputted on the tactile screen 42 by the policyholder. The signature may be handwritten on the tactile screen 42 with a finger or an adapted stylus. 100311 The supporting evidentiary documents required by the insurance authority for authentication purposes may vary in different jurisdictions. For example, the evidentiary information can include a fingerprint, voice print and the like, which 15 may substitute for the electronic images of the policyholder's ID card or his/her photograph. Accordingly, alternate embodiments of the input unit 43 can include a fingerprint acquisition device and/or a microphone to capture fingerprint and/or voice print data. [00321 The management program 46 can be adapted to run in various operating 20 system environments. Examples of the management program 46 can include, without limitation, an iOS application executable under the iOS operating system implemented in the iPadTM tablet computer, and a dynamic web page or web application executable in a web browser, such as the browser Safari in the iPadTM tablet computer. The 9 management program 46 can be executed on the business management tool 4 to perform method steps as detailed hereafter. [0033] One embodiment of a method of processing insurance contracts based on cloud computing is now described with reference to Figures 1, 2 and 6. 5 100341 In initial step 511, the tactile screen 42 of the business management tool 4 can display an image frame 421. The image frame 421 can show a plurality of needs analysis queries. A right side of each query field can include a text window 422 in which a customer or potential policyholder can input financial needs description or parameters. Examples of parameters inputted in the text window 422 can include, io without limitation, monthly living expenses, loans, insured amounts of other insurance policies, age, insured time period, etc. [00351 In step 512, the customer can use a simulated keyboard (not shown) displayed on the business management tool 4 to sequentially input the needs parameters into the text window 422, whereby the business management tool 4 can receive the 15 needs parameters via the tactile screen 42. 100361 In step 513, the business management tool 4 can send the needs parameters to the needs analysis server 1 via the internet 6. [00371 In step 514, an analysis program can be executed on the needs analysis server 1 to convert the inputted needs parameters into indicator data, compare with 20 existing data stored in a needs analysis database, and accordingly generate a proposal document with quotation in an electronic form. 10 [00381 In step 515, the needs analysis server 1 can then send the proposal document 422 to the business management tool 4. 100391 With reference to Figures 1, 2 and 7, the tactile screen 42 of the business management tool 4 in step 516 can display in the image frame 421 the proposal 5 document 422, and "agree" and "do not agree" icons 423 and 424 associated with the proposal document 422. In some embodiments, the insurance needed by the customer may exemplary include an investment-oriented insurance plan. In this case, the proposal document 422 can list investment funds that may be associated with the insurance policy. It is worth noting that the proposal document 422 is not limited to 10 the aforementioned example. If the customer wants to purchase other types of insurance policies, for example an injury insurance, health insurance or pension insurance, the proposal document 422 can also list damage items, damage amount, and restriction clauses for review by the customer. [00401 The customer can decide whether to accept to purchase an insurance 15 policy based on the content of the proposal document 422. To this end, the business management tool 4 can detect whether the "agree" icon 423 is selected on the tactile screen 42. When the selection of the "do not agree" icon 424 is detected (i.e., the "agree" icon 423 is unselected), the business management tool 4 in step 513 may resend the needs parameters as well as a new proposal request to the needs analysis server 1. 20 In step 514, the needs analysis server I can generate another proposal document according to the received needs parameters and the new request. With this method, the customer can promptly receive proposal documents. Even if an initial proposal does not obtain the customer's approval, the needs analysis server I can promptly generate 1 and provide new proposals for the customer's review. With the proposal document 422 displayed via the business management tool 4, the content of the insurance policy can be explained to the customer in a clearer and more interactive manner. 100411 Referring to Figures 1 and 3, in case the "agree" icon 423 displayed on 5 the business management tool 4 (as shown in Figure 7) is selected, the tactile screen 42 can display a plurality of input fields for information entry. The customer can then input a plurality of data required for the insurance policy by touching the tactile screen 42, such as insurance-related data, payment information, and an electronic mailbox address. Moreover, the business management tool 4 can also receive supporting 10 evidentiary documents captured via the input unit 43 shown in Figure 7. The input unit 43 can exemplary be a camera provided in a tablet computer, and the supporting evidentiary documents captured by the input unit 43 can include image files generated on-site, such as a photograph of the policyholder, and images of an ID card. [0042] In step 518, the business management tool 4 can display a request on the 15 tactile screen 42 asking whether an electronic signature is used to execute the insurance application. When the customer selects a "do not agree" icon, the business management tool 4 in step 519 can detect a corresponding signal from the tactile screen 42, and then transmit the insurance application to a printer. The insurance application then can be printed out on paper for handwritten signature by the policyholder. 20 [0043] In case the customer selects the "agree" icon, the business management tool 4 in step 520 can detect a corresponding signal from the tactile screen 42, and then receive the entry of an electronic signature. More specifically, with reference to Figures 1, 3 and 8, the image frame 421 displayed on the tactile screen 42 can 12 exemplary include a window portion 425 and a plurality of signature fields 426 including a "policyholder's signature" field, an "insured's signature" field and a "legal representative's signature" field. The window portion 425 can display the electronic insurance application incorporating data previously inputted by the customer. When 5 the "policyholder's signature" field 426 is selected, the image frame 421 can change to display an electronic signature region 427 as shown in Figure 9. The policyholder can then use a finger or stylus to sign on the tactile screen 42. After the signature is executed, the "confirm" icon 428 can be selected, and the input unit 43 can then take a photograph of the policyholder and/or capture an image of his/her ID card to acquire 10 supporting evidentiary documents. After the acquisition of the electronic signature and supporting evidentiary documents is completed, each of the signature fields 426 shown in the image frame 421 can include an electronic signature and associated evidentiary data. [00441 In some embodiments, each of the electronic signatures may be stored as 15 an image file. Moreover, as the signature is being executed, the tactile screen 42 may also detect the pressure exerted with each stroke to generate biometric data. The business management tool 4 can encrypt the biometric data (for example by applying the RSA (Rivest, Shamir and Adleman) or AES (Advanced Encryption Standard) encryption algorithm) for secure storage. 20 100451 It can be appreciated that the signature fields 426 described previously are provided for illustrative purposes only. Depending on the requirements prescribed by the insurance authority, only one signature field 426 may be provided to acquire one single electronic signature. In addition, the supporting evidentiary data are not limited 13 to the aforementioned examples, and may also include a fingerprint, voice print and retina pattern. Accordingly, the input unit 43 can also include a fingerprint acquisition module, a voice print acquisition module and a retina pattern acquisition module. [00461 In step 521, the business management tool 4 can generate an electronic 5 insurance application that incorporates the inputted data and the electronic signature (which may include the image file of the electronic signature with associated biometric data), and is accompanied with the supporting evidentiary documents. It is worth noting that the evidentiary documents may not be mandatory, in which case the business management tool 4 can only generate an electronic insurance application that 10 incorporates the insurance data and the policyholder's electronic signature. In some embodiments, hash functions may also be applied to store the electronic insurance application as a secure PDF (Portable Document Format) file or TIFF (Tagged Image File Format) file for preventing malicious modification. Examples of hash functions can include, without limitation, the SHA (Secure Hash Algorithm) method. 15 Subsequently, the business management tool 4 can transmit the electronic insurance application to the policyholder's electronic mailbox address to notify that the application process has been completed. [00471 In next step 522, the business management tool 4 can promptly send the electronic insurance application attached with supporting evidentiary data, the electronic 20 mailbox address and payment information to the verification server 2 to initiate underwrite and other downstream processes. [00481 Next referring to Figures 1 and 4, the verification server 2 can perform a plurality of verification steps during the underwrite process. For example, the 14 verification server 2 in step 523 can compare the data of the electronic insurance application against data records from existing databases. For this purpose, the verification server 2 can exemplary connect with a server database of an insurance association, a server database internal to the insurance company that includes past 5 records of insurance and damage data, and databases including records of insurer's blacklists. [0049] In step 524, the verification server 2 can verify health and financial conditions. In some embodiments, the verification server 2 can connect with a server database of an investigation center, load physical examination data that may be 10 compared with the data contained in the insurance application. It is understood that steps 523 and 524 may be performed according to any sequential orders, or in parallel. [00501 In step 525, based on the check results of steps 523 and 524, the verification server 2 can determine whether the electronic insurance application satisfy an underwrite condition. When the underwrite condition is not satisfied, the 15 verification server 2 can send a reject message to the electronic mailbox address declining the insurance application. In the meantime, the verification server 2 can also send a message to the responsible sales agent for follow-up service. [00511 In case the insurance data satisfy the underwrite condition, the verification server 2 in step 527 can store the electronic insurance application, the 20 electronic mailbox address and the payment information. Moreover, the verification server 2 can generate and transmit an underwrite result message to the electronic mailbox address to notify the policyholder that the insurance application has passed the verification process. 15 100521 Referring to Figures 1 and 5, after the underwrite process has been successfully completed, the verification server 2 in step 528 can send the payment information to the payment processing server 3 to trigger a payment process. Suppose that the payment is made by credit card, the payment processing server 3 can interact 5 with a server bank to proceed to a credit card authorization. The payment processing server 3 can then receive a return signal indicating the payment status, such as successful deduction, failed deduction, or insufficient balance. Upon receipt of a successful payment message, the payment processing server 3 can generate a completed payment message. In one embodiment, this payment process may exemplary be 10 similar to conventional processes of payment by credit card. 100531 Subsequently, the payment processing server 3 in step 529 can send the completed payment message to the verification server 2. [00541 In step 530, according to the completed payment message, the verification server 2 can determine whether the payment information meets a payment 15 condition. In one embodiment, the payment condition may be defined as whether the payment has been made within a predetermined period of time (for example ten days) from the issue date of the underwrite result to the policyholder's electronic mailbox address. In case the payment condition is not satisfied, the verification server 2 in step 531 can send a request email to the policyholder's electronic mailbox address and the 20 sales agent to prompt settlement of the outstanding premium. 100551 When the payment condition is satisfied, it means that the insurance application has been approved and the payment of the premium completed. 16 Accordingly, the verification server 2 in step 532 can generate an electronic insurance policy. 100561 In step 533, the verification server 2 can send the electronic insurance policy to the policyholder's electronic mailbox address. 5 100571 The business management tool described herein can implement a business operating process that can run from the stage of customer prospection to the production of electronic insurance policies. In certain embodiments, the business management tool can be provided as a tablet computer to the sales agent. The business management tool can apply cloud computing and wirelessly connect with a remote 10 server via the internet to produce proposal documents and electronic insurance applications, and trigger downstream underwrite and payment processes. Accordingly, the sales agent using the management tool can more efficiently provide proposals of insurance products that meet the customer's financial needs. Moreover, the business management tool can generate a complete electronic insurance application, and online is trigger an underwrite process. As a result, the waiting time for approval from the insurer company can be reduced, the amount of paper forms and documentation can be decreased, and the operating process of the insurer can be improved in efficiency. 100581 Realizations in accordance with the present invention therefore have been described only in the context of particular embodiments. These embodiments are 20 meant to be illustrative and not limiting. Many variations, modifications, additions, and improvements are possible. Accordingly, plural instances may be provided for components described herein as a single instance. Structures and functionality presented as discrete components in the exemplary configurations may be implemented 17 as a combined structure or component. These and other variations, modifications, additions, and improvements may fall within the scope of the invention as defined in the claims that follow. 18