Insurance for service level agreements in e-utilities and other e-service environments

• US 20040230459A1
• Filed: 05/14/2003
• Published: 11/18/2004
• Est. Priority Date: 05/14/2003
• Status: Active Grant

• Current Assignee: International Business Machines Corporation
• Original Assignee: International Business Machines Corporation
• Inventors: Iwano, Kazuo, Dan, Asit, Dordick, Rowan L.
• Granted Patent: US 7,873,527 B2
• Time in Patent Office: Days
• US Class Current: 705/4
• CPC Class Codes: G06Q 40/08 Insurance

Abstract

A method and system for indemnifying an insurance purchaser by an insurance provider against losses resulting from specified events. In one embodiment, the specified events include quality of service penalties of a service level agreement between a service provider and service purchaser. The invention may include at least one risk metric monitored via a communication network, such that a premium payable to the insurer by the insurance purchaser is dependent on the risk metric. In a particular configuration of the invention, the risk metric is monitored in real-time or near real-time.

Claims

1. A method of indemnifying an insurance purchaser by an insurance provider against a loss resulting from at least one specified event, the insurance purchaser and insurance provider being coupled to a communication network, the method comprising:

receiving an insurance premium from the insurance purchaser;

monitoring at least one risk metric via the communication network, the risk metric indicating a likelihood that the specified event will occur; and

adjusting the insurance premium according to changes in the at least one risk metric.

2. The method of claim 1, wherein monitoring the at least one risk metric is performed real-time.

3. The method of claim 1, further comprising compensating the insurance purchaser for the loss if the specified event occurs.

4. The method of claim 3, wherein compensating the insurance purchaser includes compensating the insurance purchaser against quality of service penalties.

5. The method of claim 1, wherein monitoring the at least one risk metric includes receiving values of the at least one risk metric periodically.

6. The method of claim 1, wherein monitoring the at least one risk metric includes receiving values of the at least one risk metric asynchoronously.

7. A method for indemnifying against quality of service penalties of a service level agreement between a service provider and service purchaser, the method comprising:

receiving an insurance premium from the service provider; and

providing insurance to the service provider against the quality of service penalties.

8. The method of claim 7, wherein providing insurance further comprises insuring against penalties arising from unavailability of service.

9. The method of claim 7, wherein providing insurance further comprises insuring against penalties arising from unavailability of human resources.

10. The method of claim 7, wherein providing insurance further comprises insuring against penalties arising from delay in recovery from a service problem.

11. The method of claim 7, further comprising monitoring at least one risk metric via a communication network, the risk metric indicating a likelihood that quality of service penalties will occur.

12. The method of claim 11, wherein the monitoring operation is performed real-time.

13. An insurance system for indemnifying a service provider against quality of service penalties of a service level agreement between the service provider and a service purchaser, the insurance system comprising:

an insurance policy provided by an insurer against the quality of service penalties;

a premium payable to the insurer by the service provider; and

compensation by the insurer to the service provider for quality of service penalties occurring within terms of the insurance policy.

14. The insurance system of claim 13, further comprising an indemnification request against the quality of service penalties of the service level agreement.

15. The insurance system of claim 13, further comprising at least one risk metric to be monitored via a communication network, the risk metric indicating a likelihood that the quality of service penalties will occur.

16. A system for indemnifying an insurance purchaser against loss, the system comprising:

an insurance policy provided by an insurer against the loss;

at least one risk metric monitored via a communication network, the risk metric indicating a likelihood that the loss will occur; and

a premium payable to the insurer by the insurance purchaser, wherein the premium is dependent on the at least one risk metric.

17. The system of claim 16, further comprising ah indemnification request against the loss.

18. The system of claim 16, wherein the loss is a quality of service penalty.

19. The system of claim 16, wherein the at least one risk metric is monitored in real-time.