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Insurance Abstract
Improvement of a property's security features, such a rekeying,
is offered by an escrow, title, insurance, banking, or loan-related
companies as part of their services to the purchasers. Once ratified
by the purchaser, the company coordinates with a provider of a particular
security feature for the installation of or providing of the security
related good or service in addition to the non-security related
service provided.
Insurance Claims
1. A method comprising:identifying a potential purchaser of a property;providing
a communication to the potential purchaser for security related
products and services; andcoordinating with a provider of security-related
products or services for the property for the purchaser;wherein
the identification of the purchaser is made in conjunction with
the providing of an unrelated property acquisition-type service.
2. The method of claim 1, wherein the unrelated property acquisition-type
service comprises escrow products and services; the providing of
escrow products and services; the offer of title products and services;
the providing of title products and services; the offer of insurance
products and services; the providing of insurance products and services;
the offer of banking products and services; the providing of banking
products and services; the offer of loan-related products and services;
or the providing of loan-related products and services.
3. The method of claim 1, wherein the security-elated product or
service is rekeying of locks.
4. The method of claim 1, wherein the revenues collected as a result
of the purchase of security related products or services is shared
between the provider of the security-related product or service
and the coordinator.
5. The method of claim 1, wherein the communication is a written
communication.
6. The method of claim 1, wherein the communication is a oral communication.
7. The method of claim 1, wherein the communication is provided
as part of a contract for the unrelated property acquisition-type
service;wherein the security-related service is provided automatically.
8. The method of claim 1, further comprising entering into a contractual
relationship with the provider of security related products or services.
9. A product by the process of claim 1.
10. A method comprising:offering rekeying services to a potential
purchaser of a property;wherein the offer is made by an entity offering
escrow products or services; title products or services; insurance
products or services; banking products or services; or lending products
or services.
11. The method of claim 10, further comprising identifying the
potential purchaser of the property.
12. The method of claim 11, wherein the identification of the purchaser
is made in conjunction with the offer of escrow products and services;
the providing of escrow products and services; the offer of title
products and services; the providing of title products and services;
the offer of insurance products and services; the providing of insurance
products and services; the offer of banking products and services;
the providing of banking products and services; the offer of loan-related
products and services; or the providing of loan-related products
and services.
13. A product by the process of claim 10.
14. A method comprising:in conjunction with the offer of or providing
of at least one of escrow, title, insurance, banking, or loan-related
services:identifying a purchaser of a property;providing for a communication
for the rekeying of the property's locks; andcoordinating with a
locksmith to have the property's locks rekeyed.
15. The method of claim 14, wherein the at least one escrow, title,
insurance, banking, or loan-related service provider contractually
agrees with at least one locksmith to provide rekeying at a reduce
fee.
16. The method of claim 15, wherein the difference between the
fee paid to the locksmith and the fee charged to the purchaser of
property is retained by the service provider.
17. The method of claim 14, wherein the rekeying is provided automatically
as part of the services provided.
18. The method of claim 17, wherein a fee is charged to the purchaser
of property for rekeying.
19. A product by the process of claim 14.
Insurance Description
RELATED APPLICATIONS
[0001]This application claims the Paris Convention priority of
U.S. Provisional Application Ser. No. 60/821,250, filed Aug. 2,
2006 entitled "Methods for Security Service Through Title,
Casualty Insurance, and Escrow Service Companies," the contents
of which are incorporated by reference.
BACKGROUND
[0002]This invention relates to a system and methodology for marketing
locksmith services through title, escrow service, property and casualty
insurance and lending companies, and specifically (i) to marketing
services to re-key locks through escrow, lending and title service
companies as a part of the purchase and/or refinancing of real estate,
and (ii) to marketing locksmith services through property and casualty
insurance companies either as a promotion to sell such insurance
to new customers or at the time that an application is made for
such insurance.
SUMMARY OF THE INVENTION
[0003]Improvement of a property's security features, such a rekeying,
is offered by an escrow, title, insurance, banking, or loan-related
companies as part of their services to the purchasers. Once ratified
by the purchaser, the company coordinates with a provider of a particular
security feature for the installation of or providing of the security
related good or service in addition to the non-security related
service provided.
[0004]According to a feature of the present disclosure, a method
is disclosed comprising identifying a potential purchaser of a property,
providing a communication to the potential purchaser for security
related products and services, and coordinating with a provider
of security-related products or services for the property for the
purchaser. The identification of the purchaser is made in conjunction
with the providing of an unrelated property acquisition-type service.
[0005]According to a feature of the present disclosure, a method
is disclosed comprising offering rekeying services to a purchaser
of a property. The offer is made by an entity offering escrow products
or services; title products or services; insurance products or services;
banking products or services; or lending products or services.
[0006]According to a feature of the present disclosure, a method
is disclosed comprising in conjunction with the offer of or providing
of at least one of escrow, title, insurance, banking, or loan-related
services: identifying a purchaser of a property, providing for a
communication for the rekeying of the property's locks, and coordinating
with a locksmith to have the property's locks rekeyed.
[0007]According to a feature of the present disclosure, products
by the processes are also expressly contemplated.
DRAWINGS
[0008]The above-mentioned features and objects of the present disclosure
will become more apparent with reference to the following description
taken in conjunction with the accompanying drawings wherein like
reference numerals denote like elements and in which:
[0009]FIG. 1 is a flowchart of an embodiment of the process of
offering security related products as part of an escrow, title,
insurance, banking, or loan-related type service; and
[0010]FIG. 2 is a flowchart of an embodiment demonstrating offering
a rekeying service as part of an escrow process.
DETAILED DESCRIPTION
[0011]In the following detailed description of embodiments of the
invention, reference is made to the accompanying drawings in which
like references indicate similar elements, and in which is shown
by way of illustration specific embodiments in which the invention
may be practiced. These embodiments are described in sufficient
detail to enable those skilled in the art to practice the invention,
and it is to be understood that other embodiments may be utilized
and that logical, mechanical, biological, electrical, functional,
and other changes may be made without departing from the scope of
the present invention. The following detailed description is, therefore,
not to be taken in a limiting sense, and the scope of the present
invention is defined only by the appended claims. As used in the
present disclosure, the term "or" shall be understood
to be defined as a logical disjunction and shall not indicate an
exclusive disjunction unless expressly indicated as such or notated
as "xor."
[0012]During the purchase of a new property, purchasers often accept
substandard security because they fail to consider security ramifications
during the purchase process. After the sale is complete and the
purchaser takes possession of a property, they must often remember,
coordinate, and schedule for security improvements and necessities
of their own accord. Often, because the purchaser is not intimately
familiar with the property, security related improvements and necessities
are left unidentified, posing security related risks. Similarly,
purchasers may not be familiar with energy efficiency options that
may be installed to improve energy efficiency, reduce operating
costs, and increase of overall value of a property. In many instances,
escrow, title, insurance, banking, and loan-related companies may,
as a value added, communicate to purchasers of new properties needs
or suggestions for improving the security of the property that the
purchaser might otherwise not think about during the purchase process.
[0013]The present disclosure discloses methods of offering security
related goods or services and coordinating with providers to provide
the security related good or service. Although the disclosure describes
the methods with respect to the rekeying of locks, a person of ordinary
skill in the art would understand and appreciate that the principles
taught herein apply more generally to all security related features
of a property including, for example, fences, alarms, improved structural
features, such as improved doors and windows. Moreover, the instant
principles also apply to offer of and coordinating of installation
or improvement of goods and services designed to make properties
more energy efficient.
[0014]As a matter of ordinary security, locks should be rekeyed
whenever property is sold or otherwise transferred. The new owner
cannot know with any certainty how many keys exist or who might
have possession of those keys. Historically, a new owner of property
arranges to have locks replaced or rekeyed after he or she obtains
ownership and possession of the property, if at all. In order to
do this, the owner has to search the yellow pages or internet for
a qualified locksmith. Even when he finds a locksmith, the owner
does not know the background or qualifications of the locksmith.
Most locksmiths are independent and operate out of a small shop
or mobile vehicle. As is more often the case, a new owner simply
fails to think about this important security issue with all of the
other issues involved in purchasing the property. Moreover, existing
property owners should consider changing or rekeying locks after
certain events occur, such as the loss of keys, burglary, or simply
the passage of time.
[0015]Escrow companies are ideally situated to offer and tie closing
costs into services such as rekeying locks, as illustrated generally
in FIG. 1. Moreover, insurance companies and lending institutions
have a vested interest in maintaining appropriate levels of security
for new properties. Consequently, escrow companies, insurance companies,
lending instructions, and other companies with which a purchaser
deals at the time of their purchase of a property, as a value added,
automatically provides services such as rekeying of house locks
or useful modifications such as energy efficiency improvements at
the time of or as a part of the services offered. It will be understood
by artisans that each of these type of companies offer a traditional
service related to the purchase of property; reference to one type
of company will be understood to be interchangeable with another
such company and its related set of non-security related services
(e.g., escrow companies are interchangeable with banks or title
insurance companies).
[0016]Another aspect of associating locksmith services to the purchase
of property is providing a platform for contractors to up-sell other
goods and services that may useful to a new owner. For example,
a locksmith visiting the property of a new owner to re-key the home
might observe children in the home. The locksmith might suggest
to the new owner installation of biometric-type keys in addition
to traditional style keys, which would allow a new owner to avoid
the necessity of giving children physical keys that might be lost
or stolen and pose security risks. Similarly, locksmiths can upsell
security systems, insurance, other devices and services that would
useful to new owners.
[0017]According to embodiments and in the case of title and escrow
services 104 as illustrated in FIG. 1, communication 108, such as
a letter, is initiated at the time that escrow is opened 102 or
an application for title insurance is made, for example. According
to embodiments, when a new owner opens escrow account 102 with a
title and escrow service company, communication 108, such as a letter,
is automatically generated for their account. The letter may be
immediately generated and delivered to the potential new owner at
the time other documents are executed or the letter may be automatically
sent to the potential new owner a set period of time after the account
is opened. According to embodiments, reminder letters may also be
sent if a potential new owner fails to reply to an initial letter
a set period of time after the initial letter is sent or after escrow
closes. According to embodiments, the purchaser then opt to have
the property rekeyed in operation 110.
[0018]According to similar embodiments and in addition to or in
place of sending letters, escrow agents may verbally offer rekeying
type services to potential purchasers. The agent may do so at the
time of the closing or at other times that the agent deems the potential
new owner may be receptive to an offer of rekeying. The agent may
make the offer in conjunction with education regarding security
risks inherent in purchasing a new property.
[0019]According to embodiments, the title or escrow company can
initiate an email to those customers who provide an email address.
This email would be automatically generated at the time that escrow
is opened, at the time that title insurance is applied for, or at
other appropriate times. The email may also be set up to be initiated
once a predetermined benchmark or milestone is reached.
[0020]Communication 108, according to embodiments, explains the
security issues associated with purchasing new property and offers
locksmith services 106 at a reasonable price to be provided by a
pre-qualified locksmith immediately after closing or at such time
agreeable to the new owner. According to embodiments, the letter
may further comprise other offers or useful suggestions for potential
new owners of property. For example, communication 108 may solely
make the offer of having the property rekeyed. However, other communications
108 may also advertise homeowners insurance policies or other revenue
generating advertisements. The offered insurance policies may be
connected to the rekeying of the property, allowing the potential
new owner an opportunity to receive improved rates due to the increased
security of having the property rekeyed. Other type services may
similarly be combined to present the potential new owner of a property
with a variety of useful services that may synergistically improve
the overall offers presented.
[0021]According to embodiments, rekeying may be a service that
is automatically arranged for the purchaser of property. Title,
escrow, or insurance companies, as well as banks, may include rekeying
as part of the non-rekeying service provided to the purchaser. For
example, the cost of rekeying may be included in closing costs 112
paid by the purchaser to the title and escrow company. According
to embodiments, a fee may be charged to the purchaser for rekeying
in addition to the fee for the non-rekeying service provided. According
to embodiments, a service provider such as an insurance company
may opt not to charge the purchaser a fee; rather, the service provider
providing the non-rekeying service would provide rekeying as a preventative
measure against future losses arising from insecure properties.
[0022]Once the potential purchaser chooses to rekey his or her
property in operation 110, the title or escrow company would establish
an arrangement with a qualified and insured locksmith company 106
to perform the services in operation 105. The arrangement, according
to embodiments, involves a fee paid to locksmith 106 and a fee retained
by title and escrow company 104, according to embodiments. After
the arrangement is made, the locksmith rekeys the property at a
predetermined date, such as the date a current occupant of the property
vacates the property, or at a future date to be mutually agreed
upon between the locksmith and the potential new owner in operation
120. Depending on the timing that the property is rekeyed relative
to the escrow and transfer of deed process, the keys could be delivered
directly to the purchaser or delivered into escrow.
[0023]According to embodiments, payment of the locksmith would
be handled by the escrow and title company. The fee for rekeying
could then be passed onto the purchaser as part of the closing costs
(e.g., in operation 112) or as an unrelated charge. The escrow and
title company would pay the locksmith a portion of the fees collected.
According to other embodiments, once the arrangement with the locksmith
is made, the purchaser would pay the locksmith directly. Thereafter,
the locksmith would pay the title and escrow company a finder's
type fee. The title and escrow company may also charge the purchaser
a premium price as part of orchestrating the rekeying, which in
turn may allow the purchaser to save money for other services, such
as insurance.
[0024]Additionally, the locksmith would have an opportunity to
sell additional services and products to the purchaser if contact
is made after the purchaser takes possession of the property in
operation 122. To that end, the methods of the present disclosure
allow both the locksmith and the title and escrow company to improve
revenues. For example, locksmith 106 may offer to the purchaser
an option to have keyless locks 122a, reprogram garage doors 122b,
install alarm systems 122c, or other security related services.
According to embodiments, escrow and title company 104 or other
similarly situated entities may provide a similar arrangement with
security alarm companies or house improvement companies.
[0025]According to embodiments and in the case of lending institutions,
a letter or other appropriate communication would be generated at
certain predetermined times, for example, when an application is
made for a loan or refinancing of an existing debt. The communication
could also be generated at other appropriate times, for example
every few years or when a substantial increase or decrease in account
value occurs, which might statistically correspond to a customer
purchasing a property. The communication would explain the security
issues and would offer locksmith services at a reasonable price
to be provided by a pre-qualified locksmith at a mutually agreeable
time. The billing for such services would be done through escrow
or separately by agreement of the parties. Other variations that
are disclosed herein are similarly contemplated.
[0026]According to embodiments and in the case of property and
casualty insurance companies, a letter or other appropriate communication
would be generated at one or more of the following times: (i) when
an application for insurance is made by a customer, (ii) when the
insurance company solicits a new customer, or (iii) when a claim
is made by an insured. The letter would explain the security issues
and insurance benefits to the insured and offer locksmith services
at a reasonable price to be provided by a pre-qualified locksmith
at mutually convenient time. The billing would be handled through
the insurance company or separately by agreement. Other variations
that are disclosed herein are similarly contemplated.
[0027]As illustrated in FIG. 2 and according to embodiments, the
methods of the present disclosure require first identifying a purchaser
of a property in operation 202. Generally, title and escrow companies,
insurance companies, and banks, for example, are ideally situated
to identify purchasers because of the non-security related service
or good being offered or utilized provided by the title and escrow
company, insurance company, bank, or other similarly situated company
during the purchase of the property.
[0028]After the purchaser is identified, a communication is provided
to the purchaser, as disclosed herein, in operation 204. The communication
may be a letter, e-mail, verbal offer, or included as part of a
contract for services. According to embodiments, insurance companies
may automatically rekey a property in improve security; in this
case the communication may simply comprise a notification or waiver
for rekeying.
[0029]Finally, the title and escrow company, insurance company,
bank, or other similarly situated company coordinates with a provider
of the security related service or good in operation 206. The title
and ecrow company, insurance company, bank, or other similarly situated
company may then institute retain a revenues from the sale of the
security related good or service in the form of a finders fee paid
by the entity providing the good or service or directly charge the
purchaser a fee for the good or service and pay an agreed amount
to the entity providing the good or service, keeping the difference
as a revenue source.
[0030]While the systems and methods have been described in terms
of what are presently considered to be the most practical and preferred
arrangements, it is to be understood that the disclosure need not
be limited to the disclosed descriptions. It is intended to cover
various modifications and similar arrangements included within the
spirit and scope of the claims, the scope of which should be accorded
the broadest interpretation so as to encompass all such modifications
and similar structures. The present disclosure includes any and
all embodiments of the following claims. |