System and method for group benefit insurance plan platform

A computerized method associated with a group benefit insurance plan having a base insurance policy characteristic, wherein members of a group may voluntarily purchase insurance policies under the group benefits insurance plan, the method comprising:

• automatically determining, by a computer processor of a group benefit insurance plan platform, a target level of participation in the group benefits insurance plan by members of the group;
• automatically determining, by the computer processor of the group benefit insurance plan platform, a number of group members who have purchased insurance policies under the group benefit insurance plan;
• based on target level of participation and the determined number, automatically applying, by the computer processor of the group benefit insurance plan platform, a benefit to the base insurance policy characteristic;
• and
• automatically transmitting, by the computer processor of the group benefit insurance plan platform, an indication associated with the applied benefit to at least some members of the group.

A system associated with a group benefit insurance plan, the system comprising:

• a computer storage unit for receiving, storing, and providing data associated with the group benefit insurance plan, including a base insurance product characteristic;
• and
• a processor in communication with the storage unit, wherein the processor is configured for:
• determining a number of group members who have purchased insurance products under the group benefit insurance plan;
• and
• based on the determined number, applying a benefit to the base insurance product characteristic.

A non-transitory, computer-readable medium storing instructions adapted to be executed by a computer processor to perform a method associated with a group benefit insurance plan having a base insurance policy characteristic, wherein members of a group may voluntarily purchase insurance policies under the group benefits insurance plan, the method comprising:

• automatically determining, by a computer processor of a group benefit insurance plan platform, a target level of participation in the group benefits insurance plan by members of the group;
• automatically determining, by the computer processor of the group benefit insurance plan platform, a number of group members who have purchased insurance policies under the group benefit insurance plan;
• and
• based on target level of participation and the determined number, automatically applying, by the computer processor of the group benefit insurance plan platform, a benefit to the base insurance policy characteristic;
• and
• automatically transmitting, by the computer processor of the group benefit insurance plan platform, an indication associated with the applied benefit to at least some members of the group.