Investment-Linked Insurance Apparatus and Method
First Claim
1. An investment-linked insurance apparatus, comprising:
- an insurance process module being configured to receive an insurance request of an applicant, create an investment-linked policy of the applicant, and issue the investment-linked policy in response to a payment of a premium of the applicant, the insurance request including an insurance subject-matter, the investment-linked policy including the insurance subject-matter, an amount of insurance, the premium, a policy period, and a bid record, the bid record comprising a total bid terms, a bid limit, and a predetermined amount;
a cash flow module being configured to receive the payment of the premium of the applicant;
a credit evaluation module being configured to determine a credit line of the applicant being greater than the predetermined amount;
a bid process module being configured to receive a placed bid of a current bid term of the applicant and calculate a predetermined bid of the current bid term; and
a database being configured to store the investment-linked policy;
wherein the bid process module is further configured to calculate a current bid amount of the current bid term for the applicant according to the bid limit and one of the placed bid and the predetermined bid.
1 Assignment
0 Petitions
Accused Products
Abstract
An investment-linked insurance apparatus and method are provided. The investment-linked insurance apparatus comprises an insurance process module, a cash flow module, a credit evaluation module, a bid process module, and a database. The insurance process module receives an insurance request of an applicant. The cash flow module receives a payment of a premium of the applicant. The credit evaluation module determines whether a credit line of the applicant is greater than the predetermined amount. The insurance process module issues an investment-linked policy of the applicant in response to the payment. The bid process module receives a placed bid of a current bid term of the applicant and calculates a predetermined bid of the current bid term. By the investment-linked insurance apparatus and method, an applicant can buy the investment-linked policy in a user-friendly environment.
9 Citations
26 Claims
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1. An investment-linked insurance apparatus, comprising:
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an insurance process module being configured to receive an insurance request of an applicant, create an investment-linked policy of the applicant, and issue the investment-linked policy in response to a payment of a premium of the applicant, the insurance request including an insurance subject-matter, the investment-linked policy including the insurance subject-matter, an amount of insurance, the premium, a policy period, and a bid record, the bid record comprising a total bid terms, a bid limit, and a predetermined amount; a cash flow module being configured to receive the payment of the premium of the applicant; a credit evaluation module being configured to determine a credit line of the applicant being greater than the predetermined amount; a bid process module being configured to receive a placed bid of a current bid term of the applicant and calculate a predetermined bid of the current bid term; and a database being configured to store the investment-linked policy; wherein the bid process module is further configured to calculate a current bid amount of the current bid term for the applicant according to the bid limit and one of the placed bid and the predetermined bid. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13)
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14. An investment-linked insurance method, being adapted to an investment-linked insurance apparatus, the investment-linked insurance method comprising the steps of:
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enabling the investment-linked insurance apparatus to receive an insurance request of an applicant, the insurance request including an insurance subject-matter; enabling the investment-linked insurance apparatus to create an investment-linked policy of the applicant, the investment-linked policy including the insurance subject-matter, an amount of insurance, a premium, a policy period, and a bid record, the bid record comprising a total bid terms, a basis bid, a bid limit, and the predetermined amount; enabling the investment-linked insurance apparatus to store the investment-linked policy in a database; enabling the investment-linked insurance apparatus to determine a credit line of the applicant being greater than the predetermined amount; enabling the investment-linked insurance apparatus to receive a payment of the premium of the applicant; enabling the investment-linked insurance apparatus to issue the investment-linked policy in response to the receiving of the insurance payment; enabling the investment-linked insurance apparatus to calculate a predetermined bid of a current bid term; enabling the investment-linked insurance apparatus to receive a placed bid of the current bid term of the applicant; and enabling the investment-linked insurance apparatus to calculate a current bid amount of the current bid term for the applicant according to the bid limit and one of the placed bid and the predetermined bid. - View Dependent Claims (15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26)
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Specification