Browse Prior Art Database

Automatic notice in the insurance report term in the credit card

IP.com Disclosure Number: IPCOM000015172D
Original Publication Date: 2002-Feb-01
Included in the Prior Art Database: 2003-Jun-20
Document File: 2 page(s) / 111K

Publishing Venue

IBM

Abstract

1. Describe your invention, stating the problem solved (if appropriate), and indicating the advantages of using the invention. Many credit card companies provide insurance to the theft and damage on goods purchased, for a limited period of time from the purchase. However, card holders are not necessarily aware of the insurance period for individual purchases, and thus sometimes fail in claiming the loss within the insurance period. This service enables each card holder to avoid such failure, by informing him/her that the insurance on the goods will soon expire. 2. How does the invention solve the problem or achieve an advantage,(a description of "the invention", including figures inline as appropriate)? For each card holder, this service periodically checks whether he/she has any purchase record whose insurance period will expire within a fixed time frame. When there exists such records, this service automatically sends a message to the card holder telling that the card holder should immediately issue a claim when there exits any loss on the goods listed in the message.

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Automatic notice in the insurance report term in the credit card

   1. Describe your invention, stating the problem solved (if appropriate), and indicating the advantages of using the invention.

Many credit card companies provide insurance to the theft and damage on goods purchased, for a limited period of time from the purchase. However, card holders are not necessarily aware of the insurance period for individual purchases, and thus sometimes fail in claiming the loss within the insurance period. This service enables each card holder to avoid such failure, by informing him/her that the insurance on the goods will soon expire.

2. How does the invention solve the problem or achieve an advantage,(a description of "the invention", including figures inline as appropriate)?

For each card holder, this service periodically checks whether he/she has any purchase record whose insurance period will expire within a fixed time frame. When there exists such records, this service automatically sends a message to the card holder telling that the card holder should immediately issue a claim when there exits any loss on the goods listed in the message.


3. If the same advantage or problem has been identified by others (inside/outside IBM), how have those others solved it and does your solution differ and why is it better?

Currently, each card holder must check whether the loss of goods purchased is covered by the insurance or not by him/herself. This service make he/she be aware of the expiration of insurance for every purchase before it actually expires, and thus lowers his/her risk to fail in issuing the claim within the insurance period.

4. If the invention is implemented in a product or prototype, include technical details, purpose, disclosure details to others and th...