WO2000062219A1

WO2000062219A1 - Comparative quoting system

Info

Publication number: WO2000062219A1
Application number: PCT/US1999/008129
Authority: WO
Inventors: John M. Young; Teresa J. Gillespie; Steve L. Edwards; Richard E. Davis; Michael M. Chlan; Charles A. Beam
Original assignee: Proact Technologies Corp.
Priority date: 1999-04-13
Filing date: 1999-04-13
Publication date: 2000-10-19
Also published as: AU3746399A

Abstract

A comparative quoting system receives quote request information from users (40, 44) and provides comparative quote result information in return, which includes communicating with a plurality of remotely located providers.

Description

COMPARATIVE QUOTING SYSTEM

BACKGROUND OF THE INVENTION

The present invention relates generally to the field of services, and more particularly to the field of electronic systems for consumer services.

Many known methods of shopping for services, such as financial services, are awkward, inefficient, and very time consuming. For example, methods of shopping for services often include making multiple telephone calls or personal visits to a variety of service provider representatives in order to obtain quotes for requested services. During each of the telephone calls or visits, large volumes of similar information are often inefficiently repeated by a consumer to each service provider representative. In addition, since many consumers are not eligible to receive all types of services from all service providers, consumers often become disappointed and frustrated during the lengthy process of shopping for services. It is also often difficult and confusing for consumers to remember all of the details of various quotes. Furthermore, since provider representatives are often paid commissions for selling services from their particular service providers, consumers often pay higher costs for services and experience pressured sales situations.

There is, therefore, a need for a system for addressing these and other related and unrelated problems.

SUMMARY OF THE INVENTION The present invention includes, in one implementation, a comparative quoting system for multiple providers, products, clients, and users. This comparative quoting system receives quote request information from users and provides comparative quote result information in return, which includes communicating with a plurality of remotely located providers. In one implementation, a plurality of types of financial services are provided across a plurality of providers of those services. Heterogeneous interfaces are supported for each provider, and the comparative quoting system is easily extensible. Example financial services include automobile insurance, home insurance, automobile financing, and home financing. Quote result information, as well as partially completed quote request information, is stored in the comparative quoting system for future access. The stored quote result information is available to consumer advisors when consumers call the consumer advisors over the telephone to purchase a previously quoted service. A consumer advisor is able to use this quote result information to provide a "warm" transfer to the chosen service provider by first calling a telephone representative for the chosen service provider, referencing any previous quote result information provided by the service provider for that particular consumer, and then introducing the consumer to the service provider before dropping off the line. According to one implementation, the comparative quoting system also provides for consolidated billing of the employer of the consumer for automatic payroll deductions or electronic funds transfer. The billing is consolidated in that the employer, or "client," receives one electronic file per payroll cycle referencing multiple employees, and the billing system of the comparative quoting system consolidates all payments due for a particular consumer, or "member," into one line item deduction, regardless of whether the payments are due for multiple types of service products provided by multiple different service providers.

BRIEF DESCRIPTION OF THE SEVERAL VIEWS OF THE DRAWINGS The accompanying drawings incorporated in and forming a part of the specification illustrate several aspects of the present invention, and together with the description, serve to explain the principles of the invention.

FIG. 1 is a block diagram illustrating components associated with member interaction, in accordance with one implementation of the present invention.

FIG. 2 is a block diagram illustrating components associated with service provider interaction, in accordance with one implementation of the present invention.

FIG. 3 is a flow chart representation of an automobile insurance quote request process, in accordance with one implementation of the present invention.

FIG. 4 is a flow chart representation of a quote processing process, in accordance with one implementation of the present invention. FIG. 5 is a flow chart representation of an automobile insurance quote review process, in accordance with one implementation of the present invention. FIG. 6 is a flow chart representation of a billing interface process, in accordance with one implementation of the present invention.

FIG. 7 is a flow chart representation of a home insurance quote request process, in accordance with one implementation of the present invention. FIG. 8 is a flow chart representation of initial screens in a home finance process, in accordance with one implementation of the present invention.

FIG. 9 is a flow chart representation of a "Today's Rates" process in the home finance process of FIG. 8, in accordance with one implementation of the present invention. FIG. 10 is a flow chart representation of initial steps in a "Shop for a Loan" process in the home finance process of FIG. 8, in accordance with one implementation of the present invention.

FIG. 11 is a flow chart representation of final steps in the "Shop for a Loan" process of FIG. 10, in accordance with one implementation of the present invention. FIG. 12 is a flow chart representation of initial screens in an auto finance process, in accordance with one implementation of the present invention.

FIG. 13 is a flow chart representation of a "Best Rates" process in the auto finance process of FIG. 12, in accordance with one implementation of the present invention. FIG. 14 is a flow chart representation of a "Shop for a Loan" process in the auto finance process of FIG. 12, in accordance with one implementation of the present invention.

FIG. 15 is a flow chart representation of an "Apply for a Loan" process referenced in the "Shop for a Loan" process of FIG. 14, in accordance with one implementation of the present invention.

FIG. 16 is a flow chart representation of a "Vehicle Pricing" process in the auto finance process of FIG. 12, in accordance with one implementation of the present invention.

FIG. 17 is a flow chart representation of a legal services request process, in accordance with one implementation of the present invention. Reference will now be made in detail to the description of the invention as illustrated in the drawings. While the invention will be described in connection with these drawings, there is no intent to limit it to the embodiments disclosed therein. On the contrary, the intent is to cover all alternatives, modifications and equivalents included within the spirit and scope of the invention as defined herein and by the appended claims.

DETAILED DESCRIPTION OF THE INVENTION Turning now to the drawings, wherein like reference numerals designate corresponding parts throughout the drawings, FIG. 1 is a block diagram illustrating components of a comparative quoting system 30 associated with member interaction elements, in accordance with one implementation of the present invention. The comparative quoting system 30 is shown including an interface server, illustrated as an external web server 32, and a quote processing system 34. An Internet Service Provider (ISP) 36 is shown connecting the external web server 32 to the Internet 38. A member browser 40 is shown connected through an ISP 42 to the Internet 38, and client company 43, shown including a member browser 44 connected, typically through a local area network (LAN), to a local web server 46 with an associated page 48 having a hyperlink to a client-specific entry page provided by the external web server 32, is connected through an ISP 50 to the Internet 38. Thus, a member may access the comparative quoting system 30 through a conventional workstation in a company network or from a home computer through an independent ISP 42. The external web server 32 incorporates locally stored static pages 52, computer gateway interface (CGI) programming 54 (such as Perl or C++) for dynamically creating pages based on interaction with the quote processing system 34, and a local cache system 56 for temporarily storing information from the quote processing system 34 to increase system speed and reduce number of interactions between the external web server 32 and the quote processing system 34. The quote processing system 34 includes, among other elements not shown, a member database 58 that is connected to a request server 60, which functionally connects the member database 58 to the external web server 32 and to an internal web server 64 that incorporates locally stored static pages 66 and

CGI programming 68 for dynamically creating pages based on interaction with the request server 60 and member database 58. The internal web server 64 is utilized by consumer advisors, each of which would operate a consumer advisor browser 62. The pages 66 would typically be larger, less graphical, and more comprehensive than pages 52. A "browser", or a "web browser", allows for simple graphical user interface

(GUI) access to network servers, which support documents formatted as so-called "pages." The World Wide Web (WWW), or "web", is a collection of servers on the Internet that utilize a Hypertext Transfer Protocol (HTTP), which is an application protocol that provides users access to files (which can be in different formats such as text, graphics, images, sound, video, etc.) using a Standard Generalized Markup

Language (SGML), which is an information management standard for providing platform-independent and application-independent documents that retain formatting, indexing, and linking information. SGML provides a grammar-like mechanism for users to define the structure of their documents and the tags they will use to denote the structure in individual documents. The page description language known as Hypertext

Markup Language (HTML) is an application of SGML. HTML provides basic document formatting of text and images and allows the developer to specify hyperlinks, or "links," to other servers and files. Use of an HTML-compliant client, such as a web browser, involves specification of an address via a Uniform Resource Locator (URL). Upon such specification, the client makes a TCP IP request to the server identified in the URL and receives a "web page" (namely, a document formatted according to HTML) in return.

As used herein, a "member" is typically a consumer or a potential customer and is often referred to as a "user" of the system, but a consumer advisor also "uses" the system, normally on behalf of a consumer engaged in a telephone conversation with the consumer advisor. In addition, in accordance with one implementation of the present invention, members are typically employees of "clients" of the comparative quoting system 30, even though the client organization does not pay anything to the owner of the comparative quoting system 30 in order to offer this system of "benefits" to the client employees. Of course, the scope of the present invention includes other implementations utilizing alternative fee structures, such as in which the clients would pay the operator of the comparative quoting system 30 for the ability to make the comparative quoting system 30 available to the employees of the clients. Other embodiments also include opening the comparative quoting system 30 to other individuals, as well as to providing comparative quoting through other platforms and network arrangements, as would be understood by those reasonably skilled in the art of the present invention.

In addition, the comparative quoting system 30 of the present invention can be implemented in any combination of software and firmware. In one preferred embodiment, the comparative quoting system 30 is implemented in software that is stored in a memory and that is executed by a suitable instruction execution system.

The comparative quoting system 30, which includes ordered listings of executable instructions for implementing logical functions, can be embodied in any computer- readable medium for use by or in connection with an instruction execution system, apparatus, or device, such as a computer-based system, processor-containing system, or other system that can fetch the instructions from the instruction execution system, apparatus, or device and execute the instructions. In the context of this document, a "computer-readable medium" can be any means that can contain, store, communicate, propagate, or transport the program for use by or in connection with the instruction execution system, apparatus, or device. The computer readable medium can be, for example but not limited to, an electronic, magnetic, optical, electromagnetic, infrared, or semiconductor system, apparatus, device, or propagation medium. More specific examples (a nonexhaustive list) of the computer-readable medium would include the following: an electrical connection (electronic) having one or more wires, a portable computer diskette (magnetic), a random access memory (RAM) (magnetic), a read- only memory (ROM) (magnetic), an erasable programmable read-only memory

(EPROM or Flash memory) (magnetic), an optical fiber (optical), and a portable compact disc read-only memory (CDROM) (optical). Note that the computer- readable medium could even be paper or another suitable medium upon which the program is printed, as the program can be electronically captured, via for instance optical scanning of the paper or other medium, then compiled, interpreted or otherwise processed in a suitable manner if necessary, and then stored in a computer memory. Refer now to FIG. 2, which shows a block diagram illustrating additional components of the quote processing system 34 of the comparative quoting system 30 associated with service provider interaction, in accordance with one implementation of the present invention. As discussed below, providers responsively provide quote result information to the comparative quoting system 30, and FIG. 2 shows various connection methods between providers and the comparative quoting system 30. The quote processing system 34 is shown further including a flow manager 70 connected to the ISP 36 and to an external web server 72 incorporating static pages 74 and CGI programming 76, which is also connected to the ISP 36. The external web server 74 is a provider extranet server enabling a provider to interface with the comparative quoting system 30 through a conventional browser, such as a provider A browser 80 or a provider B browser 88. In a manner similar to the member access methods shown in FIG. 1, provider A 79 is connected to the Internet 38 through an ISP 86 and includes a web server 82 including a page 84 with a hyperlink to a page 74, and the provider browser B 88 is connected to the Internet 38 through an ISP 94. The flow manager 70 also communicates through the ISP 36 and Internet 38 and an ISP 94 to a provider C 92 communicating through a conventional FTP (file transfer protocol) or interactive server arrangement. In addition, a provider D 96 can be accessed through a leased line, and a provider E 98 can be accessed through a dial-up connection. Thus, the scope of the present invention is intended to encompass any secure conventional method of communicating with providers, and each of the provider elements shown in FIG. 2 are also understood to be representative of multiple similarly situated providers.

The member database 58 contains all information about each client, member, quote request, purchase request and provider interaction processed by the comparative quoting system 30 of the present invention. Such information includes: the capabilities and features for any specific client, any list of individuals provided by the client as a tool for validating members, information about the various providers, including name, address and other identification information along with information regarding which products are available through a provider, the financial ratings of the provider, current loan rates and discount information, all information provided by the member for the purpose of registering and requesting quotes or purchases, any information provided on any individual in the member's family, all of the quote or purchase specific information including, basic quote information such as date requested and current status, along with product specific information such as auto insurance RFQs (Request For Quote) and the responses from each of the providers, information about purchases or potential purchases, information relevant to the handling of member activity such as callback requirements and complaint histories.

Refer now to FIG. 3, which shows a flow chart representation of an automobile insurance quote request process 150, in accordance with one implementation of the present invention. In general, FIG. 3 shows one example of the comparative quoting system 30 transmitting prompts for quote request information for display to a member.

More specifically, after the process begins in step 152, a member login page is presented to a member, prompting the member to enter a usemame and a password. With regard to FIG. 1, a member may be viewing the login page on, for example, a member browser 44, after following a hyperlink from page 48 to the login page, which is one of the static pages 52 on the external web server 32. After the member enters a usemame and a password, a portion of the CGI programming 54 communicates with the request server 60 to have the member database 58 queried to validate the usemame and password. If correct, the CGI programming 54 dynamically creates a main menu page for the member in step 156. If the member has never used the comparative quoting system 30, the member is also given an option from the login page to register as a first time user of the system, at which point the member would be able to choose a usemame and password, also referred to as a PIN (personal identification number), before being allowed to log into the system. In addition, if the member is not attempting to register through a client location, in which case the hyperlink from the client page 48 would have already identified the client to the comparative quoting system 30, the member would be required to provide a client identification (I.D.). Thus, if the user is attempting register from home through a member browser 40, this client ID. would be required for registration in accordance with one implementation of the present invention. Upon registration, the usemame and PIN would be stored in the member database 58. Similarly, other reading and writing functions for the member database 58 involving prompting of the member are handled by the CGI programming 54 in combination with the request server 60. In addition, consumer advisors are able to use the comparative quoting system 30 on behalf of a member, such as when a member and a consumer advisor are on the telephone, thus consumer advisors may be functioning on behalf of members on the telephone. As a result, both members and consumer advisors may be "users" of the comparative quoting system 30.

The main menu page of step 156 enables the member to choose to request quotes or purchases of one of a plurality of different services, to finish a previously started request, as well as to review previous quote result information, as discussed in FIG. 6. Based upon identification of the client and member, as defined in the member database 58, certain aspects regarding the main menu page and other pages available through the comparative quoting system 30 are client and member specific, including style information, i.e., graphics, arrangements of information, insertion of the member's name and/or client logo, etc., telephone numbers to call for consumer advisors, the list of services available to that particular client and to that particular member, etc. Thus, the comparative quoting system 30 is able to provide different sets of services and page parameters to different clients and to different members associated with the same client. If a member chooses to, for example, create a new auto quote, i.e., respond to prompts for quote request information in order to have the comparative quoting system 30 communicate with providers to generate member- specific quote result information, that option is selected as indicated in step 158. After instructions are presented in step 160, the member is prompted to enter policyholder information, such as name, address, date of birth, social security number, driving information, etc. If there are additional drivers for the policy, similar driving information is obtained for those drivers, as indicated in steps 164 and 166. Vehicle information is then obtained for each vehicle for which a quote is being requested in step 168 and 170. Local validation of information is also performed through the processes of the present invention in order to ensure that required information is entered properly if necessary. Since information is stored in the member database 58 on a member level, as information is requested throughout the various processes of the present invention, previously stored information is read from the member database 58 and provided as the default answers to the requested information. In step 172, the comparative quoting system 30 determines the types and limits of available and required coverages, based primarily on state-specific laws and requirements corresponding to the member's state, previously identified by the member. The member then selects the desired policy coverages in step 174 and the desired vehicle coverages for each vehicle in steps 176 and 178. Subsequently, the comparative quoting system 30 gets followup information from the member in step 184.

Subsequently, the member is prompted to enter notification information in step 186, such as by e-mail, telephone, facsimile, etc. In other words, when quote results are available, the member must be notified in some manner to come back to view the quote results. Confirmation information of the quote being requested is then presented to the member in step 188, and the member is returned to the main menu in step 190. When the quote creation process began in step 158, a quote status was initiated as "active" until the quote request information is fully provided and the quote is confirmed in step 188, at which point the quote status becomes "pending."

Refer now to FIG. 4, which is a flow chart representation of a quote processing process 200, in accordance with one implementation of the present invention. In step 202, the flow manager 70 of the comparative quoting system 30 derives provider specific data elements (i.e., not all data elements, or even the same data elements, will be needed by every provider in determining quote results) and places them into provider specific data formats in the member database 58. This process includes mapping previously entered information into provider formats. For example, requested coverage amounts for particular policies may not be available from particular providers exactly as they were requested from the member. Thus, according to rules previously provided by each provider and stored into the member database 58, the requested coverages would be mapped into the closest coverages potentially available from each provider. Otherwise, the process of answering all potential questions for all potential providers would be much too time-consuming and frustrating to a member. If, as determined in step 204, a particular provider is to be contacted electronically (e.g., providers C, D & E in FIG. 2), as opposed to communicating with the comparative quoting system 30 through an extranet (e.g., providers A & B in FIG. 2), another discreet process in the flow manager 70, in step 206, builds a provider specific data stream or file from the previously created provider specific data format. A provider specific handle scripts then transmits the provide specific data file to the provider in step 208 according to any provider scheduling requirements. Subsequently, in terms of seconds, minutes, hours or days, depending on the provider, a quote result file is sent back from the provider and handled by another handle script in step 210. Typically much smaller than the file that was transmitted to the provider, the quote result file typically includes a list of such information as a quote number, coverage type, vehicle identifier, coverage limit, deductible, premium, etc. Although some of this information was included in the quote request, it is possible that provider was not able to provide that particular type of quote, so the provider may have changed the information, confirming the need to receive such details back from the provider. The flow manager 70 then reads and parses the response file from the provider and places the information into the member database 58. By using provider specific handle scripts and discreet processes in flow manager 70, scheduling activities for accommodating separate provider schedules and heterogeneous communication requirements are more flexible and modular for expandability and fixes.

In step 214, the flow manager 70 checks to determine if all providers have responded for all pending requests for quotes. If not, such requests will be marked as "timed out" when a predetermined amount of time has expired. The predetermined time is the same for all providers, helping ensure a "level playing field". All quotes requests for which results have been received within the time limit are then compared to one another from a price perspective, ranked, and marked with a status of "ready for notification." Subsequently, in step 216, the member is notified through the member's chosen notification method, such as through an e-mail message, telephone call, etc. In the case of a telephone call, an advisor callback queue entry is created to prompt a consumer advisor to call the member with notification that the quote results are ready. The status of the quote requests are then marked as "completed." Of course, since e- mail is an optional notification method, it should be understood that an e-mail system exists within the comparative quoting system 30 in order to send the e-mail, and the member is understood to have access to an e-mail account at that address. Besides comparing and ranking the quote results, a difference between the lowest priced quote and the current premium being paid by the member (if previously provided by the member) is computed and included in the notification to the member.

Referring back to step 204, if a provider extranet is used for communication between the comparative quoting system 30 and the provider, the flow manager 70 inserts the quote request into the provider extranet in step 218. A representative of the provider (the provider) then accesses the extranet in step 220 and selects a specific quote request after being provided the option of choosing between quote requests. The provider then "closes" the completed quote requests on the extranet in step 222, and the flow manager 70 "harvests" the completed requests from the extranet and places them into the member database 58 in step 224 before processing continues in step 214 as discussed above.

Refer now to FIG. 5, which is a flow chart representation of an automobile insurance quote review process 230, in accordance with one implementation of the present invention. When the member decides to view a completed quote (which is actually a composite or comparative "quote" as used herein since it normally includes a variety of individual quote results from specific providers), the process begins in step 232 and the member login page is displayed again to the member in step 234. A "Review Auto Quotes" option is provided to the member on the main menu in step 236, and when the member selects the Review Auto Quotes option, shown in step 238, all completed auto quotes are presented to the member, and the member selects one particular quote in step 240. A quote summary page is then produced, based on the stored quote result information in the member database 58 and transmitted to the user in step 242. The quote summary includes a list, ranked by price, of a limited number of the most economical individual quote results from individual providers. In addition, the difference between the lowest priced quote and the current premium being paid by the member (if previously provided by the member) is shown on the page. The quote summary page also requests feedback from the user, which includes general feedback questions as well as the current premium being paid by the member if the member did not previously enter that information. After completing the feedback submission, the member is returned to the quote summary page, which would then include the difference between the lowest priced quote and the current premium being paid by the member since that amount would be calculated after entered through the feedback submission. After the quote summary is viewed, the quote request is marked with a "viewed" status. The member is also able to view details of individual quotes, as shown in step

244. If the member does not wish to purchase one of the quoted policies, as determined in step 246, the process ends in step 248. Otherwise, in accordance with the shown implementation of the present invention, the member is instructed to call a comparative quoting system 30 call center to speak with a consumer advisor on the telephone in step 250. In accordance with other implementations, members are instructed to instead (or alternatively) call particular providers directly. Regarding the shown implementation, when the consumer advisor answers the telephone, searching tools accessing the member database 58 enable the consumer advisor to access all quote results for that member, including denied requests and reasons for the denials that the member was not able to access, based on the name of the member, usemame, client name, etc. After confirming the details of the desired policy with the member and answering any questions from the member, the consumer advisor calls the provider that was chosen by the member and conducts a "warm transfer" by assisting the provider in accessing the appropriate quote result information previously forwarded to the comparative quoting system 30 from the provider, if available, otherwise explaining the reason for details of the call, and then telephonically introducing the member to the provider and transferring the call in step 252. The member then completes the purchase with the provider in step 254, and the process continues in a billing interface process referenced by step 256. The consumer advisor also indicates in the member database 58 that a transfer was made, which will later be used to prompt a followup if commission payment is not eventually received from the provider. Followup phone calls are also planned to ensure efficient completion of the process and satisfaction with the system.

Refer now to FIG. 6, which is a flow chart representation of a billing interface process 260, in accordance with one implementation of the present invention which is used for subsequent processes as well. After beginning in step 262, the comparative quoting system 30 receives purchase information from the provider and stores the information in the member database 58 in step 232. Subsequently, as determined in step 266, if the payment method is not an automatic payroll deduction or electronic funds transfer (EFT), the process ends in step 268. Otherwise, the billing information is re-formatted for and sent to a comparative quoting system 30 payroll system in step

270. If payroll deduct is the chosen method of billing, as determined in step 272, the comparative quoting system 30 sends a payroll deduct file to the client in step 274, after which the client sends a remittance to the comparative quoting system 30 in step 276, after which the comparative quoting system 30 sends remittance to the provider in step 278. Steps 274, 276 and 278 occur once for each payroll cycle. In addition, in one implementation of the comparative quoting system 30, the payroll deduct sent to each client combines all payroll deducts for all members of that client and combines all providers and offered services into one deduction line item for each member. Since the files sent from each provider can include multiple members across multiple clients, this ungrouping and re-grouping process results in accommodating providers, clients, and members. If EFT is chosen, steps 280, 282, and 284 are repeated once each EFT cycle for the comparative quoting system 30 to send an EFT file to a bank holding the funds to be transferred, the bank to send remittance to the comparative quoting system 30, and the comparative quoting system 30 to send remittance to the provider. Refer now to FIG. 7, which shows a flow chart representation of a home insurance quote request process 310 in accordance with one implementation of the present invention. As can be quickly noticed with reference to FIG. 3, there are many similarities between process 310 and process 150. In addition, the subsequent processes are so similar that FIGS. 4 - 6 could be largely repeated for the home insurance product by making any product specific substitutions to the charts, as would be understood by one reasonably skilled in the art of the present invention. Steps 312 - 322 are very similar to corresponding steps in FIG. 3, with the exception that home insurance is substituted for auto insurance. Dwelling information is sought in step 324, coverage information in step 326, personal property coverages in step 328, and followup information in step 334. Steps 336 - 340 are virtually the same as those for process 150. Reference is now made to FIG. 8, which shows a flow chart 350 representation of a top-level functional process for obtaining home finance quotes, in accordance with one implementation of the present invention. As illustrated, the process starts at step 352. The member is then taken to a home page and prompted to enter a unique member login identification, typically a member identification, and perhaps a password

(step 354). Assuming that the member identification and password are verified by the system, then the system proceeds to display a main menu (step 356) to the member. Alternatively, although not shown, if the member identification and password are not verified by the system, then the system may loop back upon step 354, and continue to prompt the member for an identification and password, until a verifiable entry is made.

Although a variety of choices or options may be presented at the main menu screen, in accordance with the invention, one option is provided relating to home finance. If this option is selected, then the system displays a web page containing a home finance menu (step 358). The member is then prompted to select from one of a number of menu options (step 360). Two such options may include a current rate option, also referred to herein as "today's rates". Another option may allow a member to directly shop for a loan, also referred to in here as "shop for a loan" option. Thus, at step 360, the member selects an option. If the member selects the "today's rates" option, then the system proceeds to step 362. If the member selects the "shop for a loan" option, then the system proceeds to step 364. The discussion of steps 362 and 364 are described in more detail in connection with FIGS. 9 and 10, respectfully.

Reference is now made to FIG. 9, which is a software flow chart 370 illustrating the top level functional operation of the process of obtaining current rates (i.e., "today's rates") in the home finance process of FIG. 8. In this regard, the entry point of this process is denoted as step 372. Upon entry into this process, the system may display instruction (step 374) that may provide instruction, guidance, or even general information to the member regarding the use of the system, or more generally information regarding home financing. Thereafter, the member is prompted to enter the loan type and geographic location of the property sought to be purchased or refinanced. In accordance with the preferred embodiment, the geographic identifier

(step 376) is simply the state in which the property is located. The loan type generally refers to whether the loan sought after is for an initial property purchase, or a refinance.

Thereafter, the system (at step 380) evaluates whether the loan type entered in step 376 is for a refinance. If the member indicated in step 376 that the loan type is a refinance, then the member is prompted to enter the property type, property use, estimated value of the property, all present mortgage balance (step 382). Consistent with the concepts of the present invention, these data entry values may comprise a wide variety of values if, however, the loan type entered in step 376 is not a refinance, then the member is prompted to enter the property type, property use, purchase price, down payment, and the source of the down payment (step 384). For example, the member will be prompted to indicate whether the down payment will come from current savings, a loan from a relative, the sale of an assets, etc.

Thereafter, the system proceeds to step 386, which performs a loan product query. In this regard, the system of the present invention searches its database of loan providers based upon the information entered by the member to determine whether, in fact, any of the providers have loan products that satisfy the user's profile, information, and query. For example, if the member specified that the loan was for an original purchase of a residential home having a value of approximately $250,000.00, the property being designated to serve as a vacation home (property use), with a down payment of $10,000.00 that is to be provided from the user's savings account, then the system searches its various database of providers to determine if any offer loans subject to these criteria. In this regard, many of the providers may specify that they do not provide loans on second homes where less than 10% of the purchase price will be made in a down payment. Alternatively, some of the providers may provide loan "products" that satisfy this profile, but at a higher rate of interest. Step 386 identifies all such products. The system then, at step 388, determines whether any products were found that satisfy the query. If none were found, then the system displays a message, or a page, to the member explaining that no such products were located, which satisfy the user's request (step 390). In accordance with the invention, the system may then return, for example, to step 376 where the member may continue his or her search for loan products by changing various delimiting items that define the loan. For example, if a member is in the market for a vacation home in the State of Florida for an original purchase, the member may first wish to shop for a loan that meets that criteria, and further for a particular loan product that may be provided for an extremely small down payment. Therefore, in a first pass through the inventive process, the member may enter a very low dollar amount down payment. If the system determines at step 388 that no such products are available, then the member may simply be redirected to step 376, where loan information may be reentered. In this reentry step, the member may, for example, keep all other delimiting items the same but chance the amount of the down payment. If, however, at step 388 one or more products are found that satisfy the member query, then these products are displayed to the member (step 392). After displaying the products to the user, then the preferred embodiment of the present invention may return to the home finance menu page, at step 358 (see FIG. 8). Reference is now made to FIG. 10, which is a software flow chart 400 illustrating the principal steps involved in the process of shopping for a loan (see step

364 of FIG. 8). When "shop for a loan" is selected, the process begins at step 402. From there, the process proceeds to step 404, where the system displays information and instructions to the user. These instructions may range from specific instructions regarding the use of this aspect of the system of the invention, to more general information regarding home loans, and shopping for home loans. At step 406, the member is prompted to enter the name of the borrower and/or co-borrower for the loan. The system then determines (step 408) whether the sought after loan is an original purchase or a refinance. This information may be entered at step 408, or may be "remembered" from step 380, if the member first went through the "today's rates" process (step 370).

If the "shopped for" loan is a refinance, then the member is prompted to enter information about the property, estimated appraised value, mortgage information, the geographic location (e.g., county) of the property, property taxes, insurance estimates, and associated dues (for example, neighborhood association dues) (step 410). Alternatively, if the loan is for an original purchase, the member is prompted to enter property information, purchase price, down payment amount, the state and county where the property is located, property taxes, insurance estimates, and associated dues (step 418). The member is also prompted to enter title, closing cost, and cash out options (step 412), for refinance loans. For original purchase loans, the member is prompted to enter a projected income, if the sought after property is investment property (step 420). Step 414 determines whether the cash out option was selected in step 412. If so, the system prompts the member to enter the various cash out options (at step 416). At step 422, the system then determines whether the loan amount is in excess of some predetermined limit, the predetermined limit being $350,000.00 in the preferred embodiment of the invention. As illustrated in the drawing, step 422 is entered after executing step 420, if the loan is for an original purchase. If, however, the loan is for a refinance, then step 422 is reached directly after step 414 if the cash out option was not selected, or, alternatively, immediately after step 416 if the cash out option was selected. If step 422 determines that the loan amount, in fact, exceeds $350,000.00, then the system displays a page advising the member to contact the consumer advisor (step 422). If the loan amount does not exceed $350,000.00, then the system proceeds to step 433, shown in FIG. 11. In the drawings of FIGS. 10 and 11, this transition is made through circles denoted by reference numerals 426 and 432.

Referring now to FIG. 11, after having obtained the information input in the various steps of FIG. 10, the system performs a loan product query (step 433). In this step, the system queries the database of loan products for identifiable products that satisfy the various member information previously input. The system then proceeds, in sequence, to steps 434 and 436, where it prompts the member to select the type of loan (step 434) and the term of the loan step 436. The system then determines, based upon this information, whether any viable loan products were found (step 438) from the systems database of loan providers. If no such qualifying loan products were identified in the system database, then the system displays an informatory message reporting this to the member (step 440) and returns to step 434 where the member is prompted to select a different type of loan and/or a different loan term (step 436). If, however, one or more identifiable loan products were found in step 438, then the system displays those loan products that were, in fact, found (step 432). Thus, if loan products were found that satisfy the user's specifications and queries, then details of these loan products are displayed. At this point, the member is permitted to either alter their previously specified loan preferences in order to continue searching for other loan products, or the member may opt to apply for a specific identified product (step 444). If, after viewing the list of loan products identified, the member decides to continue to search for further loan products, then the system may return, for example, to step 434 to allow the member to alter the loan type or loan term. Alternatively, the system may execute an alternative step (not specifically illustrated), allowing the member to modify any of the previously entered information pertaining to the loan. This new information may be utilized in the query when the system searches its internal database of providers and products. If, however, the member decides to apply for a given loan product, then the system prompts the member to input various specifying information regarding the borrower or co- borrower. This information may include the borrower/co-borrower fiill name, address, employment information, outstanding loans, debt, or other financial information, including asset and income information (step 446). The system may then display a disclosure authorization screen, whereby the member is prompted to authorize the system to obtain credit information for the borrower/co-borrower (step 448). Specifically, this disclosure screen may include a credit access agreement that is presented for the member to approve. Then, the member may specify how they prefer to be contacted (step 450), then the system may advise the member that they will be contacted within forty-eight hours by the consumer advisor. From the standpoint of the user, and operating the system of the present invention, the system returns to the main menu of step 356 (FIG. 8). In connection with the inventive process, however, the consumer advisor then orders a credit report and reviews the application (step 452). Assuming that the specified loan application is completed correctly, then the consumer advisor contacts the member and performs a "warm transfer" to the lender (step 454). In this regard, the consumer advisor will typically contact the member via telephone, and after advising the member that the loan has been approved by a given lender, the consumer advisor may provide the member with certain information regarding the lender including a customer service personnel at the lender or a loan specialist. By way of conference call, or otherwise, the consumer advisor may then (in a member friendly fashion) transfer the member into direct communication with the lender. At that point, the member works directly with the lender to complete the loan process and purchase (step 456). Thereafter, the system of the invention, having provided the requested service, may proceed to the billing interface (step 458), which may bill the member in accordance with the manner or method previously described. Reference is now made to FIG. 12 which is a top-level flow chart similar to that illustrated in FIG. 8, for a process according to the present invention, pertaining to auto financing. That is, where the flow chart of FIG. 8 was directed to home financing, the flow chart of FIG. 12, although similar, is directed to auto financing.

Specifically, the process starts at step 482, and the member proceeds through a log in process at step 484. Assuming the member log-in is verified, then the system presents the Main Menu (step 486). If the member selects the Auto Finance selection, then the system proceeds to step 488, which displays an auto finance menu. Within the Auto Finance menu, the system displays a plurality of options, including "Best Rates", Shop for a Loan", and "Vehicle Pricing" selections. At step 490, the system determines which of these options was selected by the member.

Specifically, at step 490 the member may be prompted to enter one of a plurality of member options. One option is denoted herein as a "best rates" option, which is similar to the "today's rates" option of the home financing aspect. Similarly, another option allows the member to "shop for a loan", in much the same way that the member shopped for a home loan. Yet another option allows the users to perform certain "vehicle pricing". As illustrated in FIG. 12, if the member (at step 490) selects the "best rates" option, then the system proceeds to step 492. This step is presented in more detail in FIG. 13, which will be discussed below. If the member selects the "shop for a loan" option, then the system proceeds to step 494. This step is more particularly illustrated in connection with FIGS. 14 and 15, which will be discussed below. Alternatively, if the member selects the "vehicle pricing" option, then the system proceeds to step 496, which is more particularly illustrated in FIG. 16, and will be described below. Turning now to FIG. 13, a flow chart 500 is shown representing the primary steps in the process for carrying out the "best rates" step 492. The process begins at step 502. From there, the system presents a consumer advisor auto finance questionnaire (step 504). Preferably, this questionnaire includes queries relating to credit prequalification, and will include a number of yes/no queries. At step 506, the system evaluates various queries to determine if at least one was answered in the affirmative. If, in fact, the member answered at least one prequalification question as

"yes" then the system displays a loan calculator, and the consumer advisor's auto finance rates for secondary lenders (step 508). As illustrated in FIG. 13, step 510 is illustrated as interacting with step 508, to signify that at any time during the execution of step 508, the member may utilize the loan calculator. From the list of finance rates and secondary lenders, the member may select various options, including the "shop for a loan" option (step 514), or the "vehicle pricing" option step 516, The system determines (at step 512) which option is selected by the user.

If, however, the member responded in the negative to all questions in the questionnaire, then the system proceeds from step 506 to step 518, where it displays a loan calculator, and all the consumer advisors auto finance rates, as well as national rates. As described in connection with step 510, step 520 is illustrated in concert with step 518 to represent the notion that the member may at any time during the execution of step 518 utilize the loan calculator. From step 518 the member may select the "shop for a loan" option (step 524) or the "vehicle pricing" option (step 526). The system, at step 522, determines which of these options are selected and proceeds accordingly.

Reference is now made to FIG. 14 which is a flow chart that illustrates the initial steps in the "shop for a loan" process, and begins at step 522. It should be appreciated that the system enters step 522 when the member selects the "shop for a loan" option, either from step 494 (FIG. 12) or steps 514 or 524 (FIG. 13). The system proceeds from step 522 to step 524, where it displays information and instructions to the user.

Consistent with the concepts of the invention, the information instructions displayed may pertain specifically to a use of the web base software of the present invention, or may more broadly be directly to auto financing information in general. Thereafter, the system proceeds to step 526 where the member is prompted to enter his or her name, driver license number (and maybe state), social security number, date of birth, address, and other similar personal identification information. The system then proceeds to step 528 where it displays a disclosure agreement, which requests the user's approval of the system obtaining credit information on the user. Step 530 then determines whether the member agreed to the disclosure agreement. If not, the system proceeds to step 532 where it stops. Alternatively, the system may return to the main menu at step 486, or the auto finance menu at step 488. If, however, the member agreed to the credit disclosure agreement, then the system orders a credit file, at the same time the member continues with the application process of the invention (step 534). In continuing the credit application process, the system proceeds to step 536, where it evaluates whether the intended purchase vehicle is known. If not, the system proceeds to step 538 and determines whether the member wishes to select a vehicle at that time. If the member indicates yes, then the system proceeds to step 540, where it accesses a pricing database to obtain a specific purchase price (or range of purchase prices) for a specified vehicle.

If step 536 determines that the intended vehicle is known, then the system proceeds to step 542, where the system obtains information on the known vehicle.

Thereafter it proceeds to step 544 where it prompts the member to either enter or verify the loan amount and down payment. As illustrated in FIG. 14, the system also enters step 544 after obtaining pricing information from the database (step 540) or from step 538, if the member decided not to select a vehicle at that time. After executing step 544, the system proceeds to step 546, where it queries the member as whether the member intends to offer a trade in vehicle. If the member indicates a desire to trade in, it proceeds to step 548, where the member may enter information identifying the trade in vehicle. The member may, from that information, access a pricing database of used vehicles to determine a trade in value for the trade in vehicle. The system then proceeds to step 550 where the use may input financing preferences and options. Consistent with the invention, a variety of financing preferences and options may be provided, as are commonly known in the industry and may be specified by the various lenders. After executing step 550, the system proceeds to step 552, where the system queries a lender database for loan products that satisfy the criteria specified above. As indicated in the figure, one such criterion preferably includes a credit score from the credit file obtained through step 534. At step 554, the system determines whether any loan products were found that satisfied the member specified criteria. If not, the system prompts the member to contact a call center (step 556) at a number, which may be provided to the member at that time. Alternatively, if one or more loan products were identified satisfying the member criteria, then the system proceeds to step 558, which displays a list of the various loan products for the member to view, which list of loan products each satisfy the specified criteria. After executing at step 558, the member may continue with the process of applying for a loan from any of the lenders/products listed in step 558 (step 560).

Reference is now made to FIG. 15, which is a flow chart 570 representation of the "apply for a loan" process, which begins at step 572. Then, the process receives input from the member for a completed loan application, for a given lender selected from the list of lenders identified in step 558. As will be appreciated, these loan applications may vary from lender to lender, and include additional information such as borrower income, debt, employment information, etc. Once the information is collected, the system may display a summary of the information (step 576) and request the member to verify the accuracy of the information displayed. The system may further request the member to agree to allow the displayed information to be communicated to the identified lender for purposes of loan approval and processing. The system then determines, at step 578, whether the member has agreed to the communication of this information to the specified lender. If not, the system stops

(step 580) and may return to the main menu (step 486) or other auto finance menu (step 488), as described in connection with FIG. 13.

If, however, the member agrees to the communication of this information to the lender, then the application information is transmitted electronically to the lender (step 582). From this information, the lender then makes a determination as to whether or not it will supply the loan, which process may be manual or automated (step 584), consistent with the present invention. The lender then sends this decision response to the consumer advisor (step 586).

Upon receipt of this information from the lender, the consumer advisor then determines whether the loan application was approved, denied, or whether the lender has requested further information (step 588). If the lender has specified that further information is needed, then the member is contacted by the consumer advisor, and the additional information is requested and recommunicated to the lender (step 590). If, the lender has denied the loan application, then the system contacts the member and communicates that denial as well (step 592). Alternatively, if the specified lender approves the loan under the specified terms, the member is contacted (step 594) and informed of the approval. A draft instrument is then ordered from the lender (step 596). This instrument is then communicated to the member at step 598. The member may then use this draft instrument at the dealership essentially as payment for the vehicle (step 600). In this way, the draft instrument takes the place of cash, check, or other financing options that often take place at the dealership. Advantageously, this process greatly improves the time required or spent at an auto dealership since financing will not only have been pre-approved, but prearranged, such that the financial transaction at the dealer takes virtually no time at all. The dealership may then deposit the draft instrument (step 602), which then may be billed to the member or other entity, by way of executing a billing interface (step 604) in a manner that has been described above.

Reference is now made to FIG. 16, which is a flow chart 610 representation of a "vehicle pricing" process as illustrated in the auto finance process of FIG. 12, and begins at step 612. In this process, the system prompts the member to select the type of pricing sought; whether the member seeks new car pricing, used car pricing, or trade in pricing (step 614). If the member selects new car pricing, the system then prompts the member to select the year of the vehicle (step 616) the make of the vehicle (step 618) as well as the model and body style of the vehicle (step 620). From this system may access a database and display to the member various pricing overview information, as well as pricing information on select optional equipment (step 622). At this stage, the member may specify certain optional equipment, and from any such specified equipment, the system may provide a final vehicle pricing, which is displayed to the member (step 624). From that point, the system allows the member to either re- select a new vehicle, whereby it returns to step 616, or alternatively to return to an entry point in the process before entering steps 612. For example, the system may return to step 490 of FIG. 12. A similar analysis in processing is performed for used car pricing. Specifically, if the member selects an option to display used car pricing, the member is prompted to enter the year of the vehicle (step 626), the make of the vehicle (step 628), and the model and body style of the vehicle (step 630). From this information, the system access a database of pricing information and may present certain overview information, as well as select optional equipment to the member (step 632). From this screen, the member may specify certain displayed optional equipment and the system provide final pricing information to the member (step 634). Thereafter, the member may select to return to step 626 to re-select pricing on other used vehicles, or to proceed to step 646 and return to an entry point from another location in the system.

Alternatively, the system may perform a similar process for trade in vehicles. That is, if the member is pricing trade in vehicles the system will proceed to a similar process to access a data base of prices that lenders are willing to pay for a used car trade in, as opposed to the values of the lenders price used cars for sale. Thus, if the member selects trade in pricing, then the system prompts the member to enter the year the vehicle (step 636) the make of the vehicle (step 638), and the model and body style of the vehicle (step 640). From this information, the system accesses a database of pricing information, and presents pricing overview information, as well as optional equipment for the member to view (step 640). From this information, the member may specify select optional equipment and obtain final vehicle pricing information (step

644). Again, the member may select to return and reenter a new trade in vehicle, or to reenter the program at the point of entry for the vehicle pricing routine.

Reference is now made to FIG. 17 which is a flow chart 670 representation of legal services request process, in accordance with one aspect of the invention. This process is similar to the home finance and auto finance processes previously described, at least insofar as the broad aspect. However, differentiation from the those prior- described processes, the legal services request process is directed to identify a specified legal services. The legal process selection begins at step 672, and then proceeds to step 674, where a member is prompted to log in, by entering a member identification and perhaps password, as previously described. Then, the system proceeds to display the main menu at step 676, as previously described. One of the options provided in the main menu selection is an option to select legal services. If the member selects the legal services options, the system proceeds to step 678. Thereafter, it proceeds to step 680 where the system displays various plan features. In this regard, the system will include a number of providers of various legal services which may be broadly displayed in a list. From this list, the member may select (broadly) the legal services plan of interest. Thereafter, the system may display details of the selected plan (step 682). If the member is interested in engaging these services, the member may so indicate by selecting an "enroll today" option (step 684). The member is then presented instructions (step 686) regarding enrollment in the plan. The member is then prompted to enter certain identification information (step 688) and to select a specific plan type

(step 690). Thereafter, the member may select among a variety of payment methods (step 700), such as direct payment in response to billing invoices, automatic credit card deduction payment, etc. Finally, the system may summarize the information entered by the member previously and present it to the member for conformation (step 702). Thereafter, the system may return to the main menu (step 704). Simultaneously

(indicated by dash line), the system may submit the information to the specified provider of legal services for approval and enrollment (step 706). Thereafter, the system may proceed to a billing interface (step 708) to bill the member in a manner described above. In various implementations of the present invention, other services are provided, including, without any limitation, life insurance, accounting services, long term care services, etc. In addition, locally stored rate information and co-located provider systems are also included within the scope of the present invention.

In concluding the detailed description, it should be noted that it will be obvious to those skilled in the art that many variations and modifications can be made to the preferred embodiment without substantially departing from the principles of the present invention. All such variations and modifications are intended to be included herein within the scope of the present invention, as set forth in the following claims.

Claims

CLAIMS We claim:

1. A comparative quoting system comprising: an interface server configured to transmit prompts for quote request information for display for a user, to receive and forward the quote request information, and to receive and transmit comparative quote result information for display for a user; and a quote processing system connected to said interface server and configured to receive and process the forwarded quote request information and to generate and forward to the interface server the comparative quote result information, wherein said interface server includes a caching system configured to temporarily store dynamically generated information received from said quote processing system, wherein said quote processing system is configured to store quote request information, and wherein said caching system is configured to temporarily store quote request information previously stored at said quote processing system.

2. The system as claimed in claim 1, wherein said interface server is connected to the Internet, and wherein said comparative quoting system further comprises a firewall system interposed between said interface server and said quote processing system.

3. The system as claimed in claim 1, wherein said interface server is configured to transmit prompts based upon static information stored at said interface server and dynamically generated information stored at said quote processing system.

4. The system as claimed in claim 1, wherein said interface server is configured to interface with a plurality of users located remotely from said interface server.

5. The system as claimed in claim 1, wherein said interface server is configured to interface with a plurality of consumer advisor users communicating verbally over telephone connections with potential consumers for comparative quotes.

6. The system as claimed in claim 1, wherein the quote request information includes financial service quote request information covering a plurality of financial service products from a plurality of unrelated providers.

7. The system as claimed in claim 6, wherein the financial service products include, at least, automobile insurance, home insurance, automobile financing, and home financing.

8. The system as claimed in claim 1, wherein said quote processing system includes a plurality of heterogeneous interfaces for remote quotation provider systems.

9. The system as claimed in claim 1, wherein said quote processing system is configured to communicate with a plurality of remotely located quotation provider systems in generating the comparative quote result information.

10. The system as claimed in claim 9, wherein said quote processing system is configured to transmit the quote request information to said plurality of remotely located quotation provider systems and to wait for a period of time to receive quote result information from said plurality of remotely located quotation provider systems.

11. The system as claimed in claim 9, wherein said quote processing system includes an extranet system configured to communicate with at least one quotation provider.

12. The system as claimed in claim 9, wherein said quote processing system is further configured to locally generate comparative quote result information.

13. The system as claimed in claim 1, wherein said quote processing system includes a request server, a member database, and a flow manager, wherein said request server is configured to receive quote request information from said interface server and store quote request information in said member database, and wherein said flow manager is configured to transmit quote request information from said member database to a plurality of quotation provider systems and to store in said member database quotation result information received from said plurality of quotation provider systems.

14. The system as claimed in claim 1, wherein said quote processing system includes logic for evaluating received quote request information and for responsively generating and transmitting to said interface server user prompts based upon evaluated quote request information.

15. The system as claimed in claim 1, further comprising a quote result completion notification mechanism.

16. The system as claimed in claim 15, wherein said quote result completion notification mechanism includes a plurality of user selectable delivery mechanisms, including an e-mail delivery mechanism.