SYSTEM AND METHOD OF MANAGING AN INSURANCE SCHEME
First Claim
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1. A system for managing an insurance scheme, the system including:
- a benefit module to define at least one insured event for an insured person and to define at least one benefit to be paid out on the occurrence of one of the insured events;
a calculation module to alter the at least one benefit based on;
a) a time factor; and
b) the life impact of the insured event on the insured person; and
an awards module to, on the occurrence of the at least one insured event, provide the at least one altered benefit to the insured person.
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Abstract
A system for managing an insurance scheme includes a benefit module to define at least one insured event for an insured person and to define at least one benefit to be paid out on the occurrence of one of the insured events. A calculation module alters the at least one benefit based on a) a time factor; and b) the life impact of the insured event on the insured person. An awards module, on the occurrence of the at least one insured event, provides the at least one altered benefit to the insured person.
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Citations
9 Claims
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1. A system for managing an insurance scheme, the system including:
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a benefit module to define at least one insured event for an insured person and to define at least one benefit to be paid out on the occurrence of one of the insured events; a calculation module to alter the at least one benefit based on; a) a time factor; and b) the life impact of the insured event on the insured person; and an awards module to, on the occurrence of the at least one insured event, provide the at least one altered benefit to the insured person. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8)
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9. Apparatus for managing an insurance scheme, the apparatus including:
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means for defining at least one insured event for an insured person; means for defining at least one benefit to be paid out on the occurrence of the at least one insured event; means for altering the at least one benefit based on; a) a time factor; and b) the life impact of the insured event on the insured person; and means for on the occurrence of the at least one insured event providing the altered at least one benefit to the insured person.
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Specification