System and method for improving the operation of a business entity and monitoring and reporting the results thereof
First Claim
1. A method for providing improved performance of a target entity, the method comprising the steps of:
- formulating a program containing program requirements;
implementing procedures designed for the target entity to meet the program requirements;
monitoring the results of the procedures to identify the proximity of the target entity meeting the program requirements;
identifying the proximity of the target entity meeting the program requirements;
communicating the proximity to an interested third party.
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Accused Products
Abstract
The present invention is a method and system for providing reduced insurance premiums to an insured entity and a reduced risk of loss to an insuring entity. A program containing certain program requirements for the insured entity is created, and procedures are designed for the insured entity to meet these predetermined program requirements. The proximity in meeting these program requirements are monitored and then communicated to an interested third party, such as the insurer. Thus, the present invention by monitoring the insured entity, and communicating information relating to the insured entity to the insuring entity, allows the insuring entity to reduce the insurance costs to the insured entity if such monitoring results in favorable information for the insurer.
22 Citations
27 Claims
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1. A method for providing improved performance of a target entity, the method comprising the steps of:
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formulating a program containing program requirements;
implementing procedures designed for the target entity to meet the program requirements;
monitoring the results of the procedures to identify the proximity of the target entity meeting the program requirements;
identifying the proximity of the target entity meeting the program requirements;
communicating the proximity to an interested third party. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8)
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9. A method for providing reduced insurance premiums for an insured entity from an insuring entity, the method comprising the steps of:
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formulating an insurance program containing predetermined program requirements;
implementing procedures designed for the insured entity to meet the program requirements;
monitoring the results of the procedures to identify the proximity of the insured entity meeting the program requirements;
identify the proximity of the insured entity meeting the program requirements;
attributing a score to the monitored results; and
providing the score to the insuring entity. - View Dependent Claims (10, 11, 12, 13, 14, 15, 16)
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17. A method for creating an insurance product for an insured entity while minimizing insurance risks and reducing premium costs, said method comprising the steps of:
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creating a new insurance product;
distributing the new insurance product to the insured entity though a distribution channel;
providing a program designed for the insured entity to meet program requirements;
determining the proximity of the insured entity to the program requirements; and
communicating the proximity to a third party. - View Dependent Claims (18, 19)
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20. A system for providing reduced insurance premiums for an insured entity from an insuring entity, the system comprising:
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a system server connected to a telecommunications network;
an independent program catalyst, residing on said system server, and operative to;
formulate an insurance program containing predetermined program requirements for the insured entity to be insured by the insuring entity;
implement procedures designed to enable the insured entity to meet the program requirements;
monitoring the results of the procedures to identify the proximity of the insured entity meeting the program requirements; and
attribute a score to the monitored results;
a web-enable software solution for communicating between the insuring entity, the insured entity, and the program catalyst. - View Dependent Claims (21, 22, 23)
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24. A system for providing improved performances for a target entity, the system comprising the components of:
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an independent program catalyst that is operative to;
identify program requirements;
implement procedures directed towards assisting the target entity in meeting the program requirements;
monitoring the results of the target entity to identify the proximity to meeting the program requirements;
attributing a score to the monitored results; and
a web-enable software solution for providing the monitoring results and the scores to the target entity, the independent program catalyst and an interested third party. - View Dependent Claims (25, 26, 27)
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Specification