This inventor holds 4 USPTO granted patents. Top assignee: Other. Active years: 2011-2012.
Company Filing History:
4 out of 834,453 Years Active: 2011-2012
Title: Lester Ware Preston: Innovator in Insurance Solutions
Introduction
Lester Ware Preston is a notable inventor based in Darien, Connecticut, with a focus on innovative solutions in the insurance industry. He holds a total of four patents, showcasing his commitment to advancing methods that address gaps in traditional insurance coverage.
Latest Patents
Among his latest patents, Preston has developed a method for marketing, underwriting, and providing coverage for damages associated with insured loss events that are not covered by traditional insurance policies. This method, known as "Collateral Damage Contracts," allows for the marketing of loss expense coverage and facilitates claim adjustment processes by referencing loss payments made by a specified insurance policy. By utilizing a framework that both buyers and sellers can easily understand, this method simplifies the communication and transaction of complex insurance concepts.
Another significant patent by Preston is "Collateral Damage Coverage for Insurers and Third Parties." This method similarly addresses the marketing, underwriting, and adjustment of damages related to insured loss events. It permits these processes to be performed by referencing loss payments made by a specified reinsurance policy, thereby providing clarity and ease of transaction in an otherwise challenging area of insurance.
Career Highlights
Throughout his career, Lester Ware Preston has demonstrated a strong dedication to improving the insurance landscape through innovative thinking and practical solutions. His work has contributed to the development of new methodologies that enhance the understanding and management of insurance claims.
Collaborations
Preston collaborates with Bruce Bradford Thomas, leveraging their combined expertise to further advance their projects and innovations in the insurance sector.
Conclusion
Lester Ware Preston's contributions to the field of insurance through his patents reflect his innovative spirit and commitment to addressing the complexities of coverage. His work continues to influence the industry and pave the way for new approaches to insurance solutions.