System and method for activating insurance coverage

Details System and method for activating insurance coverage System and method for activating insurance coverage

G - Physics

06

Q

G06Q 40/08 (2012.01)

Patent

CA 2518482

There is disclosed a method and system for activating insurance coverage. In an embodiment, a system for activating insurance coverage comprises: activation means operable by a customer for activating insurance coverage; verification means for verifying whether activation of insurance coverage is permissible; a timer for providing the date and time of activation of insurance coverage by the customer; and non-volatile storage means for archiving instances of activation of insurance coverage by the customer, together with the date and time of activation. The timer may be synchronized to a standard broadcast time signal, and the activation means may include authorization means for authorizing the customer to request the activation of insurance coverage. The non-volatile storage means is either tamper-proof or tamper-evident, and may be audited for verification of activation of insurance coverage in the event of an insurance claim.

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