FORM 2
THE PATENTS ACT, 1970
(39 of 1970)
&
The Patents Rules, 2003
COMPLETE SPECIFICATION
[See section 10 and rule 13]

TITLE OF THE INVENTION SYSTEMS AND METHODS FOR PROVIDING CONTACTLESS PAYMENTS AND INSURANCE COVERS THROUGH A WEARABLE DEVICE
2. APPLICANT
Name Nationality Address
Goqii Technologies Private Limited India 101, Satyam Tower, Sanghi Industrial Estate, Near Wasan Motors, Govandi (E), Mumbai, 400088 India

The following specification particularly describes and ascertains the nature of the invention and the manner in which it is to be performed.

SYSTEMS AND METHODS FOR PROVIDING CONTACTLESS PAYMENTS AND INSURANCE COVERS THROUGH A WEARABLE DEVICE
FIELD OF THE INVENTION
Embodiments of the present invention generally relate to the field of data analytics in healthcare and fitness, and, more particularly, to systems and methods for providing contactless payments and insurance covers through a wearable device.
BACKGROUND OF THE INVENTION
It is well known that traditionally, healthcare services are provided to individuals at the healthcare provider’s facilities like hospitals or medical institutions that may be located miles away and the individual has to travel extensively to obtain prescribed medication.
Moreover, when an individual requires some health-related assistance, he has to first contact a medical care provider and then book an appointment date and time, which results in complications and delayed medical assistance for the compromised patients. Therefore, many believe that individuals must be more engaged in their own health care, take greater responsibility in the management of their care, and in maintaining a healthy lifestyle.
Additionally, the cost of visiting a medical service provider can be costly in time, energy and finances depending on the type of insurance. Furthermore, in the Insurance Industry, the health insurance policies are based on collecting various medical reports of the user, which is collectively called medical data. The mortality risk and other health-related risks are determined or examined by the medical data of the user based on which the health insurance is provided to the user. Hence, the mortality risk of the user and the amount of insurance premium remain directly proportional to each other.

One of the main concerns of such a conventional system is that the medical data of the user may only be collected once, i.e., at the time the insurance policy was established, which may not be updated or revised based on the overall health of the user. However, with the advent of digital facilities and IoT, there have been many disclosures that provide medical health facilities in a more convenient, desirable, timely and cost-effective manner. Further to the Internet, healthcare software applications, or “APPs”, downloadable to, and executable by, a mobile device to facilitate real-time monitoring of physiological parameters of the user are also known.
In accordance with the conventional disclosures, a wearable device that detects a user's vital signs and tracks physical locations via GPS has been disclosed. Further, when the vital signs of the user are abnormal, this device then generates an emergency trigger to a monitoring centre. Therefore, this disclosure is highly useful for patients who are under a physician’s surveillance for any worrisome health conditions. However, such prior art systems are not of much use for the general public that is healthy, sub-healthy, or although not healthy but not yet in a situation that requires emergency watch-out. Furthermore, such methods do not provide any insurance cover.
Moreover, in accordance with the prior art disclosure, a health monitoring device has been disclosed that utilizes a radar sensor to detect human vitals providing contactless health monitoring. However, detecting a user's vital signs in the presence of unintentional or intentional body motions from the user or another nearby person can interfere with the radar sensor's ability to detect the user's vital signs.
Furthermore, there are conventional prior art disclosures that disclose devices for monitoring fitness with the help of a pedometer. However, such devices lack

the interactivity, sophisticated user interface, and networking capabilities (Internet access) present in modern mobile electronic devices.
To combat the above problem, there is a need for an automated computer system or software that tracks & monitors the real-time physiological parameters of the user including heart rate, speed of movement, body temperature, blood pressure, SPO2 and the like and keeps updating the medical data of the user and further determines health points. Overall, there is a need for a wearable electronic device that analyses the biometric data collected from numerous user types of equipment and utilizes it to develop a health insurance policy based on that data. Along with the data capture and analysis of the processes, such device may also provide unlimited chats and teleconsultation with a personal health coach. Such device may be a wearable device that is further synced to an App and executable by a smartphone to facilitate a user to monitor his/her own activity level.
Therefore, the solution to the above problem is a need for automated systems to monitor and evaluate the overall health of a patient that consists of wearable sensor packages to collect a patient's health score to evaluate their progress, tracing fitness and wellbeing in their residences, nursing houses, hospice, restoration centres and the like. Accordingly, there remains a need in the art for innovative, novel, efficient solutions for providing systems and methods for providing contactless payments and insurance covers through a wearable device.
SUMMARY OF THE INVENTION
The embodiments of the present disclosure have several features, no single one of which is solely responsible for their desirable attributes. Without limiting the scope of the present embodiments as expressed by the claims that follow, their more prominent

features will now be discussed briefly. After considering this discussion, and particularly after reading the section entitled “Detailed Description”, one will understand how the features of the present embodiments provide advantages. In one embodiment, a method for providing contactless payments and insurance covers through a wearable device, includes the steps of providing the wearable device to be worn by a user, and the wearable device includes at least one processor and a contactless payment chip. In accordance with an embodiment of the present invention, the method further includes the steps of, receiving, via an input module of the wearable device, an input from the user to initiate at least one payment via the contactless payment chip; processing, via a payment module of the wearable device, at least one payment in response to the input received from the user; and, providing, via an insurance module, a custom insurance cover to the user based on health related parameters of the user.
BRIEF DESCRIPTION OF THE DRAWINGS
FIG. 1 illustrates a flow diagram of a method for providing contactless payments and insurance covers through a wearable device, according to an embodiment of the invention.
DESCRIPTION OF THE INVENTION
Various embodiments of the present invention are disclosed herein below, which relate to systems and methods for providing contactless payments and insurance covers through a wearable device.
In accordance with an embodiment of the present invention, a method for providing contactless payments and insurance covers through a wearable device, includes the steps of providing the wearable device to be worn by a user, and the wearable device includes at least one processor and a contactless payment chip.

In accordance with an embodiment of the present invention, the method 100 further includes the steps of, receiving, via an input module of the wearable device, an input from the user to initiate at least one payment via the contactless payment chip; processing, via a payment module of the wearable device, at least one payment in response to the input received from the user; and, providing, via an insurance module, a custom insurance cover to the user based on health related parameters of the user.
In accordance with an embodiment of the present invention, the method 100 is characterised in that, wherein the step of providing, via the insurance module, the custom insurance cover to the user based on the health-related parameters of the user, includes providing the custom insurance cover based on a health score of the user. In accordance with an embodiment of the present invention, the method 100 further includes the steps of, providing, via a coaching module of the wearable device, health coaching to the user.
In accordance with an embodiment of the present invention, a system for providing contactless payments and insurance covers, includes, a wearable device to be worn by a user, wherein the wearable device includes at least one processor and a contactless payment chip. In use, the wearable device is a smartwatch to be worn on a wrist of the user.
In one embodiment, the system further includes an input module of the wearable device for receiving an input from the user to initiate at least one payment via the contactless payment chip; a payment module of the wearable device for processing the at least one payment in response to the input received from the user; and an insurance module for

providing a custom insurance cover to the user based on health related parameters of
the user.
In accordance with an embodiment of the present invention, the system is characterised
in that wherein the custom insurance cover is provided to the user based on a health
score of the user. In use, the system further includes a coaching module for providing
health coaching to the user.
In accordance with an embodiment of the present invention, the systems and methods
as disclosed herein may be embodied via a handheld device, in which a processor is
responsible for controlling the general operation of the device. It is to be understood
that the handheld device can be representative of most any portable device including,
but not limited to, a cell phone, smartphone, personal digital assistant (PDA), a personal
music player, image capture device (e.g., camera), personal game station, health
monitoring device, event recorder component, etc. In use, the processor can be
programmed to control and operate the various components within the device in order
to carry out the various functions described herein, including providing systems and
methods for providing contactless payments and insurance covers through a wearable
device.
In accordance with an embodiment of the present invention, the processor can be any
of a plurality of suitable processors. The manner in which the processor can be
programmed to carry out the functions relating to the subject innovation will be readily
apparent to those having ordinary skill in the art based on the description provided
herein.
Those of ordinary skill in the art will appreciate that the systems and methods as
disclosed herein by way of exemplary embodiments are embodied via an exemplary
system for providing contactless payments and insurance covers through a wearable

device over a communication network. In use, the said system includes multiple user devices, each of which hosts a number of applications including a user application resource. In further use, each user application resource is communicatively coupled to other instances of the user application resources and a server system via said communication network (e.g., the Internet).
As used herein, the term “user device” may refer to any machine that interfaces to said communications network to obtain resources from one or more server systems or other user devices. In use, a user device may be, but is not limited to, a mobile phone, desktop computer, laptop, portable digital assistants (PDAs), smart phones, tablets, ultra-books, netbooks, laptops, multi-processor systems, microprocessor-based or programmable consumer electronics, game consoles, set-top boxes, or any other communication device that a user may use to access a network.
In accordance with an embodiment of the present invention, the communication network may include, or operate in conjunction with, an ad hoc network, an intranet, an extranet, a virtual private network (VPN), a local area network (LAN), a wireless LAN (WLAN), a wide area network (WAN), a wireless WAN (WWAN), a metropolitan area network (MAN), the Internet, a portion of the Internet, a portion of the Public Switched Telephone Network (PSTN), a plain old telephone service (POTS) network, a cellular telephone network, a wireless network, a Wi-Fi® network, another type of network, or a combination of two or more such networks.
In accordance with an embodiment of the present invention, the communication network or a portion of the communication network may include a wireless or cellular network and the coupling may be a Code Division Multiple Access (CDMA) connection, a Global System for Mobile communications (GSM) connection, or other type of cellular or wireless coupling. In this example, the coupling may implement any

of a variety of types of data transfer technology, such as Single Carrier Radio Transmission Technology (1×RTT), Evolution-Data Optimized (EVDO) technology, General Packet Radio Service (GPRS) technology, Enhanced Data rates for GSM Evolution (EDGE) technology, third Generation Partnership Project (3GPP) including 3G, fourth generation wireless (4G) networks, Universal Mobile Telecommunications System (UMTS), High Speed Packet Access (HSPA), Worldwide Interoperability for Microwave Access (WiMAX), Long Term Evolution (LTE) standard, others defined by various standard setting organizations, other long range protocols, or other data transfer technology.
In accordance with an embodiment of the present invention, the systems and methods as disclosed herein are aimed at providing server-side functionality via the communication network to a user application resource aimed at providing systems and methods for providing contactless payments and insurance covers through a wearable device.
Those of ordinary skill in the art will further appreciate that while certain functions of the system are described herein as being performed by either a user application resource or by the server system, it will be appreciated that the location of certain functionality either within the user application resource or the server system is a design choice. For example, it may be technically preferable to initially deploy certain technology and functionality within the server system, but to later migrate this technology and functionality to the user application resource where a user device has a sufficient processing capacity.
In accordance with an embodiment of the present invention, the server system supports

various services and operations that are provided to the user application resource. Such operations include transmitting data to, receiving data from, and processing data generated by the user application resource. This data may include, message content, user device information, geolocation information, media annotation and overlays, message content persistence conditions, social network information, and live event information, as examples. Those of ordinary skill in the art will further appreciate that data exchanges within the system are invoked and controlled through functions available via user interfaces (Uls) of the user application resource, as disclosed herein.
Those of ordinary skills in the art will appreciate that the systems and methods according to the present invention may be embodied as mobile application or as software or computer code that can be stored in a recording medium such as a CD ROM, RAM, a floppy disk, a hard disk, or a magneto-optical disk or downloaded over a network, so that the methods described herein can be rendered in such software using a general purpose computer, or a special processor or in programmable or dedicated hardware, such as an ASIC or FPGA. As would be understood in the art, the computer, the processor or the programmable hardware include memory components, e.g., RAM, ROM, Flash, etc. that may store or receive software or computer code that when accessed and executed by the computer, processor or hardware implement the processing methods described herein.
Therefore, as may be seen, various embodiments of the present invention as disclosed hereinabove provide significant advantages over prior art, such as, for example, but not limited to, the aspects disclosed hereinabove.
Conditional language used herein, such as, among others, “can,” “could,” “might,” “may,” “e.g.,” and the like, unless specifically stated otherwise, or otherwise

understood within the context as used, is generally intended to convey that certain embodiments include, while other embodiments do not include, certain features, elements and/or steps. Thus, such conditional language is not generally intended to imply that features, elements and/or steps are in any way required for one or more embodiments or that one or more embodiments necessarily include logic for deciding, with or without author input or prompting, whether these features, elements and/or steps are included or are to be performed in any particular embodiment. The terms "comprising," "including," 'having," and the like are synonymous and are used inclusively, in an open-ended fashion, and do not exclude additional elements, features, acts, operations, and so forth. Also, the term "or" is used in its inclusive sense (and not in its exclusive sense) so that when used, for example, to connect a list of elements, the term "or" means one, some, or all of the elements in the list.
While the preferred embodiment of the instant invention has been shown and described, it is to be appreciated that the invention may be embodied otherwise than is herein specifically shown and described and that, within said embodiment, certain changes may be made in the form and arrangement of the parts without departing from the underlying ideas or principles of this invention as set forth in the Claims appended herewith. Therefore, the appended claims are to be construed to cover all equivalents falling within the true scope and spirit of the invention.

Claims We claim:
1. A method for providing contactless payments and insurance covers through a
wearable device, said method comprising the steps of:
providing said wearable device to be worn by a user, said wearable device comprising of at least one processor and a contactless payment chip;
receiving, via an input module of said wearable device, an input from said user to initiate at least one payment via said contactless payment chip;
processing, via a payment module of said wearable device, said at least one payment in response to said input received from said user; and,
providing, via an insurance module, a custom insurance cover to said user based on health-related parameters of said user.
2. The method as claimed in Claim 1, wherein said step of providing, via said insurance module, said custom insurance cover to said user based on said health related parameters of said user, includes providing said custom insurance cover based on a health score of said user.
3. The method as claimed in Claim 1, wherein said method further comprises the step of providing, via a coaching module of said wearable device, health coaching to said user.
4. A system for providing contactless payments and insurance covers, said system comprising:

a wearable device to be worn by a user, said wearable device comprising of at least one processor and a contactless payment chip;
an input module of said wearable device for receiving an input from said user to initiate at least one payment via said contactless payment chip;
a payment module of said wearable device for processing said at least one payment in response to said input received from said user; and,
an insurance module for providing a custom insurance cover to said user based on health related parameters of said user.
5. The system as claimed in Claim 4, wherein said custom insurance cover is provided to said user based on a health score of said user.
6. The system as claimed in Claim 4, wherein said system further comprises a coaching module for providing health coaching to said user.
7. The system as claimed in Claim 4, wherein said wearable device is a smartwatch to be worn on a wrist of said user.