Nader Mdeway Founder Of Keystone Insurance Services, Inc. Is Granted An Insurance Patent Making The Protection Of Consumers The Focus Of Insurance Transactions
Austin, TX - Nader Mdeway, the President of Keystone Insurance Services, Inc., was granted a patent that covers devices, systems and methods that set new standards for future risk analysis, insurance policy analysis, and insurance purchasing. Mr. Mdeway’s pioneering initiative sets the vision for new and much needed practices and brings the era of automated cognitive analysis and artificial intelligence to bear against outdated and ineffective means of evaluating complex insurance needs and contracts.
Currently, consumers either obtain their insurance directly from an insurance company or through insurance brokers. In both cases, the information requested from the consumer to provide insurance quotes is often gathered for the insurance company to assess the risk it is accepting in order to determine the cost needed to charge the consumer. During these transactions, who is watching out for the consumer’s protection needs? The level of expertise and care insurance agents possess varies significantly. Other than licensing requirements, no degree in the field is required in spite of the complexity of the legal contracts and terms used.
U.S. Patent Number 9,996,881 B2 for Consumer-Centered Risk Analysis And Insurance Purchasing Systems And Methods discloses devices, systems, and methods for analyzing consumers’ needs and insurance contracts, and provides tools to consumers, insurance brokers and insurance companies alike. To name just a few exemplary benefits, the devices, systems, and methods described in the patent help consumers identify their own risk exposures, offer consumers recommended coverages, and determine coverage gaps in current insurance policies. These inventions can, for example, also be used by insurance brokers to help their clients by offering a means of identifying, analyzing and comparing complex insurance policies to benefit the consumers and save the brokers extensive time and effort. By the same token, insurance companies can benefit from these systems by identifying deficiencies in their policies and determining how well a policy is written in comparison to their competitors. The patent describes additional resources that can be used to create a comprehensive system that will significantly improve the efficiency and accuracy of insurance brokers.
About Keystone Insurance Services, Inc.:
Keystone Insurance Services, Inc. is an independent insurance agency located in Austin, TX and was founded in 2007. Due to the complexity of business insurance, the agency is particularly passionate about serving the commercial and employee benefits needs of businesses. The philosophy of its founder, Nader Mdeway, is to work with highly-rated (A.M. Best) insurance companies either directly, if they do not require sales volume requirements, or through insurance brokers. This approach was adopted because the founder believes the only factor that should influence coverage options and recommendations is the best interest of the consumer.