An insurance software firm has obtained a patent on an automated system for dividing insurance application processing work.
Internet Pipeline Inc., Exton, Pa., says the patent, U.S. Patent Number 7,689,444, covers a computerized method for preparing insurance applications.
IPipeline filed the application for the patent Feb. 19, 2003, and the patent was issued March 30, 2010.
The patented technology can help a user have an outside service provider complete insurance “pre-application,” iPipeline says.
William Atlee, the chief strategy officer at iPipeline and the inventor of the patented technology, says having a service provider handle the preliminary work can save brokers and agents time.
The technology also can make the insurance industry as a whole much more efficient, Atlee says in a statement.
“We believe the patented method of preparing insurance applications is of particular benefit in non-traditional markets such as banks and broker-dealers,” Atlee says.