SYSTEM AND METHOD OF MANAGING AN INSURANCE SCHEME

• US 20090299774A1
• Filed: 06/03/2009
• Published: 12/03/2009
• Est. Priority Date: 06/03/2008
• Status: Active Grant

• Current Assignee: Vitality Group International, Inc. (Discovery Limited)
• Original Assignee: Discovery Holdings Limited (Prudential PLC)
• Inventors: RABSON, Kenneth Steven, MAYERS, Herschel Phillip, GORE, Adrian
• Granted Patent: US 8,386,279 B2
• Time in Patent Office: Days
• US Class Current: 705/4
• CPC Class Codes: G06Q 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes
• CPC Class Codes: G06Q 40/08 Insurance

Abstract

A system for managing an insurance scheme includes a calculation module to, on the occurrence of an insured event for an insured person, calculate a subsidy for expenses for the insured person or a nominated beneficiary. The subsidy is calculated by accessing data defining a plurality of categories of expenses and determining for each category a spend amount. The spend amount is either an average historical spend amount over a period of time prior to the insured event or an actual spend amount for a period of time after the insured event. A percentage is then calculated using the insured person'"'"'s participation with a wellness programme. Finally, the amount of the subsidy is calculated by multiplying the percentage by the spend amount. A payment module effects payment of the subsidy to the insured person, the nominated beneficiary or a third party goods or services provider.

Claims

1. A system for managing an insurance scheme, the system including:

a calculation module to, on the occurrence of an insured event for an insured person of the scheme, calculate a subsidy for subsidising expenses for the insured person or a nominated beneficiary of the insured person, wherein the subsidy is calculated by accessing data defining a plurality of categories of expenses and determining for each defined category of expenses a spend amount being either an average historical spend amount over a period of time prior to the insured event or an actual spend amount for a period of time after the insured event, the calculation module further calculating a percentage amount by accessing data indicating the insured person'"'"'s participation with a wellness programme, the calculation module then calculating the amount of the subsidy for each category of expenses by multiplying the percentage by the spend amount; and

a payment module to obtain the amount of the subsidy for each category of expenses and to effect payment of the subsidy for each category of expenses to the insured person, the nominated beneficiary or a third party goods or services provider.

2. The system according to claim 1 further including an expenses module to define the plurality of categories of expenses.

3. The system according to claim 2 wherein the expenses module defines a plurality of categories of expenses that includes at least one of the group consisting of food, clothing, transport, utilities, communication and accommodation expenses.

4. The system according to claim 1 further including a life changing events module to define a plurality of life changing events as insured events.

5. The system according to claim 4 wherein the life changing events module defines the plurality of life changing events to include at least one of disability, contracting a dread disease and dying.

6. The system according to claim 1 wherein the payment module identifies a credit card or debit card of the insured person and whereby the subsidy is implemented by the payment module crediting the credit card or debit card.

7. The system according to claim 1 further including a wellness programme module to define a wellness programme and monitor the compliance of the wellness programme by the insured person.

8. The system according to claim 7 wherein the wellness programme module monitors the compliance of the insured person with the wellness programme by receiving insured person usage information associated with the insured person'"'"'s usage of the wellness programme.

9. The system according to claim 8 wherein the usage information received includes information associated with a plurality of separate and distinct occurrences of wellness programme participation by the insured person.

10. The system according to claim 8 wherein the wellness programme module determines, based on the usage information, a points value or a status level associated with the insured person for the wellness programme, wherein the points value or the status level indicates a degree of participation in the wellness programme and wherein the calculation module uses the points value or status level to calculate the percentage amount.

11. Apparatus for managing an insurance scheme, the apparatus including:

means for calculating a subsidy for an insured person or a nominated beneficiary of the insured person on the occurrence of an insured event by accessing data defining a plurality of categories of expenses and determining for each defined category of expenses a spend amount being either an average historical spend amount over a period of time prior to the insured event or an actual spend amount for a period of time after the insured event, the means further calculating a percentage amount by accessing data indicating the insured person'"'"'s participation with a wellness programme, the means then calculating the amount of the subsidy for each category of expenses by multiplying the percentage by the spend amount; and

means for effecting payment of the subsidy by obtaining the amount of the subsidy for each category of expenses and then effecting payment of the subsidy for each category of expenses to the insured person, the nominated beneficiary or a third party goods or services provider.

12. The apparatus according to claim 11 further including a means for defining the plurality of categories of expenses.

13. The apparatus according to claim 12 wherein the means for defining a plurality of categories of expenses defines a plurality of categories of expenses that includes at least one of the group consisting of food, clothing, transport, utilities, communication and accommodation expenses.

14. The apparatus according to claim 11 further including means for defining a plurality of life changing events.

15. The apparatus according to claim 14 wherein the means for defining a plurality of life changing events defines the plurality of life changing events to include at least one of disability, contracting a dread disease and dying.

16. The apparatus according to claim 11 further including wellness programme means for defining a wellness programme and monitoring the compliance of the wellness programme by the insured person.