System and method of managing an insurance scheme
First Claim
1. A system for managing an insurance plan, comprising:
- at least one computer server;
software stored on non-transitory storage medium and executable by said at least one computer, the software configured to;
(a) receive data relating to the occurrence of an insured event relating to disability, disease, or death with respect to an insured, including time information relating to the insured event,(b) receive data relating to spending, unrelated to insurance premiums, by the insured;
(c) receive data relating to a degree of participation by the insured in wellness activities of a wellness program directed to reducing a likelihood of disability, disease, or death of the insured;
(d) calculate, on the occurrence of the insured event(i) a spend amount relating to an amount spent by the insured over a period of time,(ii) a percentage amount relating to a status level indicative of the degree of participation by the insured in the wellness program,(iii) a subsidy amount by multiplying the calculated percentage amount by the calculated spend amount, and(e) cause to effect payment of the subsidy amount to the insured person or a nominated beneficiary.
3 Assignments
0 Petitions
Accused Products
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 program. 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.
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Citations
21 Claims
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1. A system for managing an insurance plan, comprising:
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at least one computer server; software stored on non-transitory storage medium and executable by said at least one computer, the software configured to; (a) receive data relating to the occurrence of an insured event relating to disability, disease, or death with respect to an insured, including time information relating to the insured event, (b) receive data relating to spending, unrelated to insurance premiums, by the insured; (c) receive data relating to a degree of participation by the insured in wellness activities of a wellness program directed to reducing a likelihood of disability, disease, or death of the insured; (d) calculate, on the occurrence of the insured event (i) a spend amount relating to an amount spent by the insured over a period of time, (ii) a percentage amount relating to a status level indicative of the degree of participation by the insured in the wellness program, (iii) a subsidy amount by multiplying the calculated percentage amount by the calculated spend amount, and (e) cause to effect payment of the subsidy amount to the insured person or a nominated beneficiary. - View Dependent Claims (2, 3, 4, 5, 6, 7)
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8. A system for managing an insurance plan, comprising:
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at least one computer server; software stored on non-transitory storage medium and executable by said at least one computer, the software configured to; (a) receive data relating to the occurrence of an insured event relating to disability, disease, or death with respect to an insured, including time information relating to the insured event, (b) receive data relating to spending, unrelated to insurance premiums, by the insured; (c) receive data relating to a degree of participation by the insured in at least one of approved related facilities, or services, of a wellness program directed to reducing a likelihood of disability, disease, or death of the insured; (d) calculate, on the occurrence of the insured event (i) a spend amount relating to an amount spent by the insured over a period of time, (ii) a percentage amount relating to a status level indicative of the degree of participation by the insured in the wellness program, a higher percentage amount being associated with a higher degree of participation, (iii) a subsidy amount by multiplying the calculated percentage amount by the calculated spend amount, and (e) cause to effect payment of the subsidy amount to the insured person or a nominated beneficiary. - View Dependent Claims (9, 10, 11)
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12. A method for managing an insurance plan, comprising:
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using at least one computer server to execute software stored on non-transitory storage medium connected to said at least one computer, the software configured to (a) receive data relating to the occurrence of an insured event relating to disability, disease, or death with respect to an insured, including time information relating to the insured event, (b) receive data relating to spending, unrelated to insurance premiums, by the insured; (c) receive data relating to a degree of participation by the insured in at least one of approved related facilities, or services, of a wellness program directed to reducing a likelihood of disability, disease, or death of the insured of the insured; (d) calculate, on the occurrence of the insured event (i) a spend amount relating to an amount spent by the insured over a period of time, (ii) a percentage amount relating to a status level indicative of the degree of participation by the insured in the healthcare program, (iii) a subsidy amount by multiplying the calculated percentage amount by the calculated spend amount, and (e) cause to effect payment of the subsidy amount to the insured person or a nominated beneficiary during the lifetime of the insured. - View Dependent Claims (13, 14, 15, 16, 17, 18, 19, 20, 21)
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Specification