System and method for evaluating insurance member activity and pricing insurance products
First Claim
1. A method for providing incentives from an insurance carrier to an insurance member to perform health-promoting measures comprising:
- a) assessing the insurance member'"'"'s health;
b) establishing a list of at least one health-promoting measure and at least one financial incentive to be presented to the insurance member based on the assessment of health;
c) monitoring the insurance member'"'"'s compliance in performing said at least one health-promoting measure; and
d) assessing the appropriate at least one financial incentive to be presented to the insurance member based on monitored compliance.
0 Assignments
0 Petitions
Accused Products
Abstract
The present invention relates to systems and methods for evaluating and establishing pricing of insurance products based on insured member compliance to health-promoting measures. Member participation in health-promoting measures are monitored and used as a basis for establishing incentives (i.e., reduction in insurance premiums) for said member. In one embodiment, exercise/activity monitors are worn by members to verify their identity and to record insurance member compliance in performing health-promoting measures (i.e., heart rate, type of exercise, exercise intensity and duration). All health-related information, including physical examination results and recorded participation in health-promoting measures, are used to determine appropriate incentives (i.e., subsidize membership fees for health club) to be rewarded to said member.
-
Citations
24 Claims
-
1. A method for providing incentives from an insurance carrier to an insurance member to perform health-promoting measures comprising:
-
a) assessing the insurance member'"'"'s health;
b) establishing a list of at least one health-promoting measure and at least one financial incentive to be presented to the insurance member based on the assessment of health;
c) monitoring the insurance member'"'"'s compliance in performing said at least one health-promoting measure; and
d) assessing the appropriate at least one financial incentive to be presented to the insurance member based on monitored compliance. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 13)
-
- 11. The method according to claim 11, wherein the member selects the health-promoting measures to be performed by the member.
-
14. A system for providing cost-effective insurance coverage to insurance members and promoting healthy insurance members, said system comprising:
-
a) a means for monitoring an insurance member'"'"'s performance of at least one health-promoting measure;
b) a centralized computer;
c) a means for communicating monitored performance of at least one health-promoting measure to the centralized computer; and
d) a means for assessing appropriate financial incentives to be presented to the insurance member based on monitored performance. - View Dependent Claims (15, 16, 17, 18, 19, 20, 21, 22, 23)
-
-
24. A computer readable medium containing program instructions for displaying member data on a display device of a computer system, the data being obtained from tables in a database associated with the computer system, said computer readable medium comprising:
-
first computer program code for receiving data regarding a member'"'"'s health;
second computer program code for establishing a list of at least one health-promoting measure and at least one financial incentive to be presented to the insurance member based on the assessment of health;
third computer program code for assessing the insurance member'"'"'s health;
fourth computer program code for monitoring the insurance member'"'"'s compliance in performing said at least one health-promoting measure based on assessment of health; and
fifth computer program code assessing the appropriate at least one financial incentive to be presented to the insurance member based on monitored compliance.
-
Specification