Method and apparatus for facilitating operation of an insurance plan
First Claim
Patent Images
1. A system for facilitating the establishment and administration of an insurance plan, comprising:
- at least one insurance carrier computer;
a service computer adapted to communicate with said carrier computer;
means for gathering base customer information concerning the insurance plan;
said service computer having means for compiling said base customer information for the establishment of the insurance plan;
means for determining tentative insurance plan information is response to the compiled base customer information;
said carrier computer having means for generating an approved insurance plan report information based on said tentative insurance plan report information; and
said service computer having means for receiving and storing said insurance plan report information and for generating an approved insurance plan report messages for use by a customer.
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Accused Products
Abstract
The system includes a group of computers for facilitating the implementation and administration of a desired group insurance plan, having conversion rights for individuals. The system includes information gathering devices for receiving and storing employer and employee base information, and devices for generating summarized base information signals in response to the information gathering devices. Devices generate report displays of summarized base information responsive to the signals. Also, devices calculate iteratively a desired employer contribution amount based upon the base information signals.
350 Citations
36 Claims
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1. A system for facilitating the establishment and administration of an insurance plan, comprising:
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at least one insurance carrier computer; a service computer adapted to communicate with said carrier computer; means for gathering base customer information concerning the insurance plan; said service computer having means for compiling said base customer information for the establishment of the insurance plan; means for determining tentative insurance plan information is response to the compiled base customer information; said carrier computer having means for generating an approved insurance plan report information based on said tentative insurance plan report information; and said service computer having means for receiving and storing said insurance plan report information and for generating an approved insurance plan report messages for use by a customer. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12)
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13. A system for facilitating the establishment and administration of an employee group insurance plan, comprising:
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means for gathering base customer information regarding a proposed new customer, said information including employee census information; means for compiling said base information and summarizing it; means for calculating iteratively the benefit values of the insurance plan based upon a given premium contribution from an employer for the insurance plan for a plurality of employees for a given interval of time; and
means for calculating iteratively individual employee conversion benefit values of the insurance plan subsequent to said interval of time based upon said given premium contribution. - View Dependent Claims (14, 15, 16, 17, 18, 19, 20, 21, 22, 23)
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24. A method of facilitating the establishment and administration of an insurance plan, comprising:
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gathering base information regarding a proposed new customer, said information including employee census information; compiling said base information and summarizing it; calculating iteratively the benefit values of the insurance plan based upon a given premium contribution from an employer for the insurance plan for a plurality of employees periodically for a given interval of time; and calculating iteratively individual employees conversion benefit values of the insurance plan subsequent to said interval of time based upon said given premium contributions.
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25. A system for facilitating the design, establishment and administration of a plurality of insurance plans on behalf of customer accounts, where base customer information is gathered and updated,
and insurance carrier accounts where insurance plans are evaluated, said system comprising: -
first data receiving and storing means for receiving and storing customer base information signals gathered by the customer account; compiling means responsive to said customer base information signals for compiling said customer base information; processor means responsive to said compiling means for generating tentative insurance illustration signals indicative of an insurance risk for a calculated premium; report generating means responsive to said processor means for generating tentative insurance illustration reports and tentative information for proposal report for insurance carrier evaluation and acceptance, said reports delineating a tentative insurance plan; sending means for sending the tentative insurance plan individually and selectively to an insurance carrier account for evaluation purposes and to a customer account for pre-plan approval; second data receiving and storing means for receiving and storing insurance carrier information signals indicative of evaluated insurance illustration information and update information relating to said customer account; and analyzing means responsive to said second data receiving and storing means for generating information signals for further evaluation by said customer account or alternately said insurance carrier account. - View Dependent Claims (26, 27, 28, 29, 30, 31, 32, 33)
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34. A method for generating illustration data for facilitating the acceptance of a group life insurance risk for a customer account consisting of an employer having a plurality of employees, comprising:
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receiving base employer information from the customer account regarding a group life insurance plan, said base information including a targeted employer premium contribution; storing said base information characterizing said customer account; generating a plurality of individual employee premium components and a single employer premium component for a tentative single premium contribution based upon the stored customer base information for said customer account; calculating iteratively the death benefit values of a group life insurance plan based on said tentative single premium contribution; using an algorithm for facilitating the calculation of a single master premium measured by a plurality of present and future risk factors allocable among the employees associated with said customer account for a predetermined interval of time, a plurality of calculated death benefit values of a group insurance plan for insuring against present and future risks and a targeted employer premium contribution, said single master premium contribution including a plurality of individual premium components calculated continuously for said interval and a single employer premium component; responding to said algorithm by generating signals indicative of a tentative death benefit; responding to the tentative death benefit signal and to the algorithm to generate a tentative single premium contribution signal having an employer premium component and an employee premium component; comparing the approximate equivalence of the employer premium component of the tentative premium contribution signal and the targeted employer premium contribution; and generating illustration data in response to an approximate equivalence, and alternately initiating a further calculation in response to a non-equivalence. - View Dependent Claims (35, 36)
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Specification