OA16543A - Transaction facilitation system. - Google Patents
Transaction facilitation system. Download PDFInfo
- Publication number
- OA16543A OA16543A OA1201300353 OA16543A OA 16543 A OA16543 A OA 16543A OA 1201300353 OA1201300353 OA 1201300353 OA 16543 A OA16543 A OA 16543A
- Authority
- OA
- OAPI
- Prior art keywords
- user
- server
- network
- insurance
- underwritten
- Prior art date
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- 230000000977 initiatory Effects 0.000 claims abstract description 9
- 238000000034 method Methods 0.000 claims description 6
- 230000002452 interceptive Effects 0.000 claims description 5
Abstract
The invention provides a computer system for facilitating the initiation and/or conclusion of a financial product contract, said system characterized by a telecommunications network, a telecommunications terminal operable on the network, and a server having a point-of-presence on the telecommunications network, said server including ; a CPU, data storage means, and inputs and outputs, wherein software is provided on the server which is operate on the server to initiate said contract in response to data received by the server from the terminal over the network from a user, wherein when the user concludes a transaction with vendor, a message is sent to a user's terminal, in which message an offer is made to the user to provide insurance to the user without further charge conditionally on the user responding message is processed by the server in accordance with predetermined rules set in the software, and wherein a collaboration server preprocesses the data received from the consumer to determine whether the transaction can be concluded and the insurance underwritten in accordance with the predetermined rules of the insurance underwritten in accordance with the predetermined rules of the underwriter, said collaboration server communicated a determination that the insurance can be underwritten to either the insurer's server and the vendor whereby the transaction is concluded with payment by the vendor and the insurance underwritten.
Description
TRANSACTION FACILITATION SYSTEM
Field of the Invention
The invention relates to a transaction facilitation system. In particular the invention relates to a transaction facilitation system which is implemented over a communications network.
Background to the Invention
The inventors are aware that a need exists for a transaction facilitation network which is implemented over a communication network.
In particular a need for the facilitation of sales transactions, especially for financial services has been identified.
The handling of client data and financial product rules is of particular importance and the inventor thus proposes the process as described here below.
Summary of the Invention
According to a first aspect of the invention, there is provided a computer system for facilitating the initiation and/or conclusion of a financial product contract, said system including:
- a télécommunications network;
- a télécommunications terminal opérable on the network; and
- a server having a point-of-presence on the télécommunications network, said server including:
o a CPU;
o data storage means;
o inputs and outputs, wherein software is provided on the server which is opérable on the server to initiate said contract in response to data received by the server from the ΧΑ/·'~ i
terminal over the network from a user, wherein when the user concludes a transaction with a vendor, a message is sent to the user's terminal, in which message an offer is made to the user to provide insurance to the user without further charge conditionally on the user responding to the offer by transmitting a message to the server either accepting or rejecting the offer, which responding message is processed by the server in accordance with predetermined rules set in the software, and wherein a collaboration server pre-processes the data received from the consumer to détermine whether the transaction can be concluded and the insurance underwritten in accordance with the predetermined rules of the underwriter, said collaboration server communicating a détermination that the insurance can be underwritten to either or both the insurer’s server and the vendor whereby the transaction is concluded with payment by the vendor and the insurance underwritten,
The collaboration server may also communicate the underwriting of the insurance to a communication platform, directly or indirectly, whereby the user is notified of their insurance having been underwritten, the validity period thereof and the amount thereof,
The collaboration server may provide a user interface to a user into which a code may be entered and data may be displayed in respect of the insurance in place and its duration.
The transaction with the vendor may be a user purchasing airtime for using a mobile télécommunications network.
The terminal may be a mobile télécommunications handset such as a mobile téléphoné, a tablet, a portable computer, or the like. -v—
The télécommunications network may be a fixed line network, a wireless network known as a wi-fi network, a GSM network, a WCDMA network, or a combination of the aforesaid. Typically the network is a mobile telephony communications network.
A system as described above wherein the predetermined rules set in the software may include:
- the transfer of information about the user to an operator who obtains information viva voce from the user; and/or
- the transfer of information about the user to an interactive voice récognition (IVR) platform which interrogates the user for information relevant to the contract before the insurance policy is issued.
The operator and/or the IVR may collect information from the user spécifie to the type of insurance policy being offered, for example, name, address, identification number, social security number, general health, beneficiaries and the like.
The operator may issue the policy in response to the answers provided by the user.
The IVR may instruct the server to issue the policy in response to the answers provided by the user.
The user interface of the collaboration server may utilize a web based display, USSD, SMS, or the like, and show consolidated information normally available over heterogeneous servers into one place.
According to a second aspect of the invention there is provided a computer server for facilitating the initiation and/or conclusion of an insurance contract, said server having a point-of-presence on a mobile télécommunications network and able to yy— 3 communicate via said network with a mobile télécommunications handset opérable on said network, said server including:
o a CPU;
o data storage means;
o inputs and outputs, wherein software is provided on the server which is opérable on the server to initiate an insurance contract in response to data received by the server from the handset over the network from a user, wherein when the user purchases airtime for using the mobile télécommunications network, a 10 message is sent to the user's mobile télécommunication handset, in which message an offer is made to the user to provide insurance to the user without further charge conditionally on the user responding to the offer by transmitting a message to the server over the mobile télécommunication network from the mobile télécommunication handset either accepting or 15 rejecting the offer, wherein a collaboration server pre-processes the data received from the consumer to détermine whether the transaction can be concluded and the insurance underwritten in accordance with predetermined rules of the underwriter in the software, said collaboration server communicating a détermination that the insurance can be 20 underwritten to either or both an insurer’s server and a vendor whereby the transaction is concluded with payment by the vendor and the insurance underwritten by the insurer.
The collaboration server may also communicate the underwriting of the insurance 25 to a communication platform, directly or indirectly, whereby the user is notifïed of their insurance having been underwritten, the validity period thereof and the amount thereof.
A server as described above wherein the predetermined rules set in the software 30 may include:
- the transfer of information about the user to an operator who obtains information viva voce from the user; and/or
- the transfer of information about the user to an interactive voice récognition (IVR) pîatform which interrogates the user for information relevant to the contract before the insurance policy is issued.
According to a third aspect of the invention, there is provided a method of initiating and/or concluding an insurance contract, said method including:
- selling mobile communications network airtime to a user;
- transmitting an offer to provide insurance at no additional cost to a mobile télécommunications handset of the user, said offer requiring a response from the user in order to signify an intention to accept the offer;
- contacting the user in response to a response received from the user;
- collecting predetermined types of information required to underwrite the insurance poticy; and
- a collaboration server pre-processes the information received from the consumer to détermine whether the transaction can be concluded and the insurance underwritten in accordance with predetermined rules of the underwriter, said collaboration server communicating a détermination that the insurance can be underwritten to either or both an insurer’s server and a vendor whereby the transaction is concluded with payment by the vendor and the insurance underwritten by the insurer.
The method may include collecting the predetermined information types by means of an operator or a user interface in communication with the collaboration server.
The method may include collecting the predetermined information by means of a user interface of the collaboration server or an interactive voice récognition systern (IVR).
The method may include contracting to insure a user in response to receipt of the predetermined information without any additional cost to the user.
The invention will now be described, by way of non-limiting example only.
Example of an Implémentation of the Invention
The invention may be implemented in many different ways and the explanation which follows is only to illustrate one such possibility but does not derogate from the generality of the invention.
In an implémentation of the invention, there is provided a system for facilitating the initiation and/or conclusion of a life insurance contract. The system includes a mobile télécommunications network on which mobile téléphonés, also known as cell phones, can be used to communicate both verbally and by text and data messaging.
A server is provided at a location and has a point-of-presence on the mobile télécommunications network. The server includes a CPU, data storage means, and inputs and outputs. Software is provided on the server which opérâtes on the server to cause the server to send an SMS to the handset of a user who has purchased airtime.
The SMS is a means of initiating a life insurance contract in response to data received by the server from the handset over the network when the user purchases the airtime and submits the airtime unlock code or PIN.
In the SMS message an offer is made to the user to provide insurance to the user without further charge conditionally on the user responding to the offer by transmitting an SMS back to the server over the mobile télécommunication —6 network from the handset from which the airtime has just been purchased, either accepting or rejecttng the offer.
The responding SMS reaches the server over the communication network and is processed by the server in accordance with predetermined rules set in the software.
The predetermined rules set in the software may include:
- the transfer of information about the user to an operator who obtains information viva voce from the user; and/or
- the transfer of information about the user to an interactive voice récognition (IVR) platform which interrogates the user for information relevant to the contract before the insurance policy is issued.
The operator and/or the IVR collect information from the user, for example, name, address, identification number, social security number, general health, and the like.
The operator then issues the policy in response to the answers provided by the user and the sends the user a confirmatory SMS which may include a user code.
The server or the operator transmits a message to the underwriter or insurance broker informing them of the insurance which has been issued and requesting any commission which may be due to be credited to the server operator.
Thus, the invention provides a method of initiating and/or concluding a life insurance contract. The method including selling mobile communications network airtime to a user, transmitting an offer to provide insurance at no additional cost to a mobile télécommunications handset of the user, said offer requiring a response from the user in order to signify an intention to accept the offer, contacting the user 7
VL·—16543 in response to a response received from the user, on a collaboration server, referred to as the Trustco Mobile Concept in the Figure below, collecting predetermined types of information required to underwrite the insurance policy, comparing the information to the underwriters rules using software on the collaboration server, issuing the insurance policy if policy issuing conditions hâve been met, notifying the insurance underwriter and/or insurance broker of the transaction and, optionally, requesting a commission which may be due. Further, the collaboration server notifies the user of the issuance of the insurance whether directly or by communication the information to a vendor's communication platform which then notifies the user by email, SMS, USSD, or other means, which notification may include a unique user code.
The Trustco Mobile Concept collaboration server in the figure includes a user interface which serves to display the users insurance data as well as providing an interface for submitting the user code, if required. The user interface may be a GUI such as a web page or totally text based such as a simple mobile phone display used for SMS or USSD communications.
The method includes collecting the predetermined information types by means of an operator or an IVR.
The provision of the insurance has no further costs to the user except for the cost of the airtime purchased.
The invention has several advantages including the improved distribution of insurance to otherwise uninsured persons.
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Claims (8)
- Claims1. A computer system for facilitating the initiation and/or conclusion of a financial product contract, said system characterized by:- a télécommunications network;- a télécommunications terminal opérable on the network; and- a server having a point-of-presence on the télécommunications network, said server including:o a CPU;o data storage means;o inputs and outputs, wherein software is provided on the server which is opérable on the server to initiate said contract in response to data received by the server from the terminal over the network from a user, wherein when the user concludes a transaction with a vendor, a message is sent to the user's terminal, in which message an offer is made to the user to provide insurance to the user without further charge conditionally on the user responding to the offer by transmitting a message to the server either accepting or rejecting the offer, which responding message is processed by the server in accordance with predetermined rules set in the software, and wherein a collaboration server pre-processes the data received from the consumer to détermine whether the transaction can be conciuded and the insurance underwritten in accordance with the predetermined rules of the underwriter, said collaboration server communicating a détermination that the insurance can be underwritten to either or both the insurer’s server and the vendor whereby the transaction is conciuded with payment by the vendor and the insurance underwritten.
- 2. A system as claimed in claim 1, characterized in that the collaboration server communicates the underwriting of the insurance to a communication .platform, directly or indirectly, whereby the user is notified of their însurance having been underwritten, the validity period thereof and the amount thereof.
- 3. A system as claimed in claim 1, characterized in that the collaboration server may provide a user interface to a user into which a code may be entered and data may be displayed in respect of the însurance in place and its duration.
- 4. A system as claimed in claim 1, characterized in that the transaction with the vendor is a user purchasing airtime for using a mobile télécommunications network.
- 5. A system as claimed in any one of the preceding daims, characterized in that the terminal is a mobile télécommunications handset selected from a mobile téléphoné, a tablet, and a portable computer, opérable on the télécommunications network which is selected from a fixed line network, a wireless network known as a wi-fi network, a GSM network, a WCDMA network, or a combination of the aforesaid.
- 6. A system as claimed in any one of the preceding daims, characterized in that the predetermined rules set in the software include:- the transfer of information about the user to an operator who obtains information viva voce from the user; and/or- the transfer of information about the user to an interactive voice récognition (IVR) platform which interrogates the user for information relevant to the contract before the însurance policy is issued.
- 7. A system as claimed in daim 3, characterized in that the user interface of the collaboration server utilizes a web based display, USSD, SMS, or the like, and shows consolidated information normally available over heterogeneous servers into one place. vV
- 8. A computer server for facilitating the initiation and/or conclusion of an insurance contract, said server having a point-of-presence on a mobile télécommunications network and able to communicate via said network with a mobile télécommunications handset opérable on said network, said server including:o a CPU;o data storage means;o inputs and outputs, wherein software is provided on the server which is opérable on the server to initiate an insurance contract in response to data received by the server from the handset over the network from a user, wherein when the user purchases airtime for using the mobile télécommunications network, a message is sent to the user's mobile télécommunication handset, in which message an offer is made to the user to provide insurance to the user without further charge conditionally on the user responding to the offer by transmitting a message to the server over the mobile télécommunication network from the mobile télécommunication handset either accepting or rejecting the offer, wherein a collaboration server pre-processes the data received from the consumer to détermine whether the transaction can be concluded and the insurance underwritten in accordance with predetermined rules of the underwriter in the software, said collaboration server communicating a détermination that the insurance can be underwritten to either or both an insurer’s server and a vendor whereby the transaction is concluded with payment by the vendor and the insurance underwritten by the insurer.
Publications (1)
| Publication Number | Publication Date |
|---|---|
| OA16543A true OA16543A (en) | 2015-10-22 |
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