Automated Insurance Services System

• US 20100063852A1
• Filed: 04/04/2008
• Published: 03/11/2010
• Est. Priority Date: 04/04/2007
• Status: Abandoned Application

• Current Assignee: Valueguard AB
• Original Assignee: Valueguard AB
• Inventors: Toll, Hâkan
• Application Number:
  US12/531,376
• Publication Number:
  US 20100063852A1
• Time in Patent Office: Days
• US Class Current: 705/4
• CPC Class Codes: G06Q 40/08 Insurance

Abstract

Methods and systems for generation of an insurance to protect the policy-holder of an object which is part of a market against changes in an index related to this market under a period of time are provided.

Claims

1. A computerized system configured to determine a compensation for an insurance, comprising:

at least one object unit that receives an insured value and at least one index value and that determines the compensation according to a function of the insured value and a change in the index value over a period of time.

2. The system of claim 1, wherein the compensation C at a time t is calculated according to:

C(t)=T(n1, n2, . . . , N)*(W(t)*V(t)*I(t)

in which T(n) is a function that can have values in a range [0,1];

n1, n2, N are values in the range [0,1];

W(t) is a function for compensation amplitude;

V(t) is the insured value; and

I(t) is the change in index value.

3. The system of claim 2, wherein the function for the compensation C is related to an insurance premium.

4. The system of claim 1, wherein the system is configured to offer a new insurance policy in exchange for or as a supplement to an old insurance policy at a reduced premium.

5. The system of claim 1, wherein the system is configured to pay back a portion of the premium to a user if the index has not declined more than at least one threshold or the index is above at least one threshold during a period of time

6. The system of claim 1, wherein the compensation is limited by a value or function such that the compensation is given only in case of a predetermined condition with respect to a sale of the underlying object.

7. The system of claim 1, wherein compensation requires a change in index and a sell of the underlying object.

8. The system of claim 1, wherein compensation requires a change in index, a sell of the underlying object and where the amplitude of the compensation is dependent on the underlying object business.

9. The system of claim 1, wherein the system is adapted to receive an index from an index database.

10. The system of claim 9, wherein the index is a Hedonian index or a repeated-sales index, or a combination thereof.