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Systems and methods for administering comprehensive protection plans

  • US 8,666,784 B2
  • Filed: 06/16/2010
  • Issued: 03/04/2014
  • Est. Priority Date: 10/19/2009
  • Status: Active Grant
First Claim
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1. A computer system for processing data relating to one or more insurance policies, the system comprising:

  • a data storage device configured to;

    receive, store and provide access to insurance coverage data, wherein the insurance coverage data includes, for each of a plurality of individual policy features, a corresponding feature identifier and a set of rules defining a compatibility of each of the plurality of individual policy features to one or more other individual policy features;

    one or more memories configured to;

    store program instructions;

    one or more computer processors coupled to the data storage device and the one or more memories, wherein said one or more computer processors, upon execution of the program instructions, are configured to;

    retrieve the insurance coverage data from the data storage device;

    receive a policy request from an individual, and identify at least two individual policy features from among the plurality of individual policy features based on (i) said policy request from said individual and (ii) a determination of the compatibility of said at least two individual policy features in the insurance coverage data based on said set of rules, wherein at least one of the individual policy features comprises a single deductible feature;

    assemble, responsive to said policy request and based on said set of rules, one or more insurance coverage packages including said at least two individual policy features; and

    generate, based on the at least two individual policy features, pricing information for each of the one or more insurance coverage packages;

    a communication device, coupled to the one or more computer processors, configured to;

    present the generated one or more insurance coverage packages; and

    receive a selection of a selected one of the one or more insurance coverage packages; and

    a policy record data storage device coupled to the one or more computer processors and configured to;

    store a policy record associated with the selected insurance coverage package, wherein the selected insurance coverage package is a first insurance policy and wherein the selected insurance coverage package has an associated first deductible; and

    associate the policy record associated with the selected insurance coverage package with a policy record associated with a second insurance policy, wherein the second insurance policy has an associated second deductible;

    wherein the selected insurance coverage package and the second insurance policy are for different property types;

    wherein said one or more computer processors, upon execution of the program instructions, are further configured to;

    responsive to receipt of an insurance claim involving a single loss event that results in property damage to the property type covered by the selected insurance coverage package and in property damage to the property type covered by the second insurance policy,determine a single deductible for the single deductible feature to apply based upon the first deductible and the second deductible; and

    update the policy records associated with each of the selected insurance coverage package and the second insurance policy based on said determined single deductible.

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