This inventor holds 3 USPTO granted patents and 1 published patent application. Top assignee: State Farm Mutual Automobile Insurance Company. Active years: 2019-2022.
Company Filing History:
Years Active: 2019-2022
Title: Innovations by Randall Petersen
Introduction
Randall Petersen is an accomplished inventor based in Normal, IL (US). He has made significant contributions to the field of insurance technology, holding a total of 3 patents. His work focuses on improving the efficiency and effectiveness of insurance application processes.
Latest Patents
One of Randall Petersen's latest patents is a "System and method for real-time screening of a disability insurance applicant." This innovative system allows for the automatic screening of applicants for disability insurance in real-time. If the results are favorable, the system can automatically communicate acceptances and issue policies via wireless communication. The process includes calculating the applicant's BMI and reviewing their prescription drug history to ensure eligibility. If an applicant is rejected, they may still apply through an alternate non-real-time process.
Another notable patent is the "Insurance application process providing bound online coverage for life insurance products." This patent outlines methods and systems for a web-based application that enables customers to submit relevant information for obtaining various insurance policy products. The application simplifies the process by filtering questions based on the customer's specific needs and previous answers. It also determines whether a customer qualifies for temporary or permanent life insurance coverage and provides a binding receipt of temporary insurance coverage upon payment.
Career Highlights
Randall Petersen is currently employed at State Farm Mutual Automobile Insurance Company, where he continues to innovate in the insurance sector. His work has significantly impacted how insurance applications are processed, making them more user-friendly and efficient.
Collaborations
Randall has collaborated with notable colleagues, including David Scott Etheridge and David A Theile. Their combined expertise contributes to the advancement of insurance technology and the development of innovative solutions.
Conclusion
Randall Petersen's contributions to the field of insurance technology through his patents demonstrate his commitment to improving the insurance application process. His innovative systems not only enhance efficiency but also ensure that applicants receive timely and accurate assessments.