SYSTEMS AND METHODS FOR ADMINISTERING COMPREHENSIVE PROTECTION PLANS

• US 20110093299A1
• Filed: 06/16/2010
• Published: 04/21/2011
• Est. Priority Date: 10/19/2009
• Status: Active Grant

• Current Assignee: Hartford Fire Insurance Company (The Hartford Financial Services Group, Inc.)
• Original Assignee: Hartford Fire Insurance Company (The Hartford Financial Services Group, Inc.)
• Inventors: Winter, Henry J., Stepeck, Carin Lynn, Harasimowitz, Stanley Michael
• Granted Patent: US 8,666,784 B2
• Time in Patent Office: Days
• US Class Current: 705/4
• CPC Class Codes: G06Q 40/08 Insurance

Abstract

Systems, methods means and computer program code for administering comprehensive protection plans are provided which include a computer system to process an insurance claim, the system having a first policy database storing policy data associated with a first type of insurance, a second policy database storing policy data associated with a second type of insurance, a requestor device and a claims processing system for receiving an insurance claim associated with a customer, determining that the claim involves a single loss event and more than one type of property damage, retrieving from the first policy database, information associated with a first policy of the customer and at least a second policy of the customer, the information including a first deductible associated with the first policy and a second deductible associated with the second policy, determining which of the first and second deductible to apply to the claim, and updating the first and second policy databases based on the determined deductible.

Claims

1. A computer system to issue a comprehensive protection plan of at least one insurance coverage package for an individual from among a plurality of possible insurance coverages, the system comprising:

a data storage device for receiving, storing, and providing access to insurance coverage data and insurance coverage package data;

a computer processor for executing program instructions and for retrieving the insurance coverage data and the insurance package data from the data storage device;

a memory, coupled to the computer processor, for storing program instructions for execution by the computer processor;

a configuration engine comprising program instructions stored in the memory, for receiving a policy request from an individual, and identifying one or more of the plurality of insurance coverage packages based on said policy request from said individual and based on a determination of the compatibility of individual policy features in an insurance coverage package;

a communication device, coupled to the computer processor, for presenting the identified one or more insurance coverage packages and for receiving a selection of a selected one of the insurance coverage packages; and

a policy record data storage device for storing a policy record associated with the selected insurance coverage package and associating the policy record with at least one policy record of a second insurance coverage package, where the selected insurance coverage package and the second insurance coverage package are for different property types.

2. A computer system according to claim 1, wherein the configuration engine further comprises program instructions for:

generating pricing information for each of the one or more of the plurality of insurance coverage packages; and

causing the pricing information to be presented in a graphical user interface for comparison.

3. A computer system according to claim 1, the configuration engine further to:

receive a selection of one of the presented insurance coverage packages;

determine an alternative one of the insurance coverage packages; and

present a comparison of the alternative one and selected one of the insurance coverage packages.

4. A computer system according to claim 1, wherein at least one of the insurance coverage packages includes a one deductible loss provision.

5. A method of operating a computer system to process an insurance claim, the method comprising:

receiving information identifying a claim and a first policy;

determining, based on said information identifying a claim, that said claim involves a single loss event and more than one type of property damage;

retrieving, from a policy database, information associated with said first policy and at least a second policy, including a first deductible associated with said first policy and a second deductible associated with said second policy;

determining which of said first and second deductible to apply to said claim; and

updating said policy database based on said determined deductible.

6. The method of claim 5, further comprising:

determining, based on said information identifying said first policy, that said policy includes a shared deductible feature.

7. The method of claim 5, wherein said determining which of said first and second deductible to apply to said claim further comprises:

identifying which of said first and second deductibles is the single highest deductible applicable for any item of covered property loss.

9. The method of claim 5, wherein said determining which of said first and second deductible to apply to said claim further comprises:

determining that there is no single highest deductible among said first and second deductibles; and

identifying which of said first and second deductibles has the highest earned deductible reduction benefit.

10. The method of claim 5, wherein said determining which of said first and second deductible to apply to said claim further comprises:

determining that there is no single highest deductible among said first and second deductibles;

determining that the first and second deductibles have at least one of (i)the same earned deductible reduction benefit and (ii) no deductible reduction benefit; and

identifying the deductible associated with the property item having the largest monetary loss.

11. The method of claim 5, wherein said updating said policy database based on said determined deductible further comprises:

updating a record in a policy database associated with said first policy; and

updating a record in a second policy database associated with said second policy.

12. The method of claim 5, wherein said first policy is an automobile policy and said second policy is a homeowners policy.

13. The method of claim 5, wherein said information associated with said first policy is stored in a first policy database and said information associated with said second policy is stored in a second policy database.

14. A computer system to process an insurance claim, the system comprising:

a first policy database storing policy data associated with a first type of insurance;

a second policy database storing policy data associated with a second type of insurance;

a requestor device;

a claims processing system for receiving an insurance claim associated with a customer, determining that said claim involves a single loss event and more than one type of property damage, retrieving from said first policy database, information associated with a first policy of said customer and at least a second policy of said customer, the information including a first deductible associated with said first policy and a second deductible associated with said second policy, determining which of said first and second deductible to apply to said claim, and updating said first and second policy databases based on said determined deductible.

15. The computer system of claim 14, said claims processing system further comprising:

determining, based on said information identifying said first policy, that said policy includes a shared deductible feature.

16. The computer system of claim 14, wherein said determining which of said first and second deductible to apply to said claim further comprises:

identifying which of said first and second deductibles is the single highest deductible applicable for any item of covered property loss.

17. The computer system of claim 14, wherein said determining which of said first and second deductible to apply to said claim further comprises:

determining that there is no single highest deductible among said first and second deductibles; and

identifying which of said first and second deductibles has the highest earned deductible reduction benefit.

18. The computer system of claim 14, wherein said determining which of said first and second deductible to apply to said claim further comprises:

determining that there is no single highest deductible among said first and second deductibles;

determining that the first and second deductibles have at least one of (i) the same earned deductible reduction benefit and (ii) no deductible reduction benefit; and

identifying the deductible associated with the property item having the largest monetary loss.

19. The computer system of claim 14, wherein said first policy is an automobile policy and said second policy is a homeowners policy.

20. A computer system to issue a comprehensive protection plan of at least one insurance coverage package for an individual from among a plurality of possible insurance coverage features, the system comprising:

a data storage device for receiving, storing, and providing access to insurance coverage data and insurance coverage package data;

a computer processor for executing program instructions and for retrieving the insurance coverage data and the insurance package data from the data storage device;

a memory, coupled to the computer processor, for storing program instructions for execution by the computer processor;

a configuration engine comprising program instructions stored in the memory, for receiving a policy request from an individual, and identifying one or more of the plurality of insurance coverage packages based on said policy request from said individual and based on a determination of the compatibility of individual policy features in an insurance coverage package;

a communication device, coupled to the computer processor, for presenting the identified one or more insurance coverage packages and for receiving a selection of a selected one of the insurance coverage packages; and

a policy record data storage device for storing a policy record associated with the selected insurance coverage package, wherein the selectable insurance coverage package features includes a no-drop promise feature, a reimbursement for home services feature, a lifetime guarantee for repair services feature, a roadside assistance feature and a new car replacement guarantee feature.

21. The computer system of claim 20 wherein the selectable insurance coverage package features further includes a 12-month policy feature, a first accident forgiveness feature, and a disappearing deductible feature.

22. The computer system of claim 20 wherein the selected insurance coverage package includes a no-drop promise feature, a reimbursement for home services feature, a lifetime guarantee for repair services feature, a roadside assistance feature and a new car replacement guarantee feature, a 12-month policy feature, a first accident forgiveness feature, and a disappearing deductible feature.

23. The computer system of claim 22 wherein the selected insurance coverage package features further includes 12-month policy feature, a first accident forgiveness feature, and a disappearing deductible feature.

24. The computer system of claim 20, wherein said policy includes a shared deductible feature with at least one other insurance policy.

25. The computer system of claim 20, wherein the selectable insurance coverage package features further include a full cost to rebuild a home feature, a payment for the actual cost of replacing possessions feature, and a deductible forgiveness feature.