Insurance policy revisioning method and apparatus
First Claim
1. An apparatus comprising:
- a processor;
a first computer memory having stored therein data that defines an insurance policy as a plurality of discrete temporally-sequential policy data revisions, wherein each revision incorporates information from temporally prior revisions covering an effective date range of the revision;
a second computer memory having stored therein a program which when executed causes the processor to;
receive a new policy revision that is temporally subsequent as compared to a first policy data revision and that comprises a legally effective date range preceding at least in part an effective date range of the first policy data revision;
divide the new policy revision into a plurality of legally non-overlapping policy data revision segments, wherein at least one of the legally non-overlapping unbound policy data revision segments has a legally effective date range that starts on an effective date of the new policy revision and ends on an initial effective date of the first policy data revision;
determine, based at least in part on the legally non-overlapping unbound policy data revisions, effects of the new policy data revision.
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Accused Products
Abstract
An insurance policy is stored (101) as a plurality of discrete temporally-sequential policy data revisions. A legally binding revision for a first given date is then determined (102) by identifying all policy data revisions effective on the first given date and choosing a most temporally recent policy data revision temporally prior to a second given date. When a new policy data revision is (103) temporally subsequent as compared to a first policy data revision and also comprises a legally effective date range preceding at least in part an effective date range of the first policy data revision, legally non-overlapping policy data revisions are created (104) for each legally overlapping effective date range as exists between the new policy data revision and all temporally preceding revisions. Each newly-created legally non-overlapping policy data revision comprises changes introduced by the new policy data revision and at least one temporally preceding policy data revision.
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Citations
21 Claims
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1. An apparatus comprising:
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a processor; a first computer memory having stored therein data that defines an insurance policy as a plurality of discrete temporally-sequential policy data revisions, wherein each revision incorporates information from temporally prior revisions covering an effective date range of the revision; a second computer memory having stored therein a program which when executed causes the processor to; receive a new policy revision that is temporally subsequent as compared to a first policy data revision and that comprises a legally effective date range preceding at least in part an effective date range of the first policy data revision; divide the new policy revision into a plurality of legally non-overlapping policy data revision segments, wherein at least one of the legally non-overlapping unbound policy data revision segments has a legally effective date range that starts on an effective date of the new policy revision and ends on an initial effective date of the first policy data revision; determine, based at least in part on the legally non-overlapping unbound policy data revisions, effects of the new policy data revision. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21)
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Specification