Methods and systems for calculation of insurance related fees for an insurance product
AssigneeeBaoTech Corporation
InventorHenry HE
Life of this patent
Estimating the term…
Abstract
A method for adjustment in calculation of insurance related fees for an insurance product is disclosed, comprising (a) determining type and sequence of adjustments; (b) applying one or more adjustments to an initial value obtained by a predetermined function; and (c) serving an adjusted value so obtained as basis for subsequent calculation. A method for calculation of insurance related fees is disclosed comprising a step of rebalancing.
Claims27
A computer-implemented method for adjustment in calculation of insurance related fees for an insurance product, the method comprising steps of
- (a) determining type and sequence of adjustments;
- (b) applying one or more adjustments to an initial value obtained by a predetermined function, according to the type and sequence of adjustments as determined in step (a);
- and
- (c) serving an adjusted value so obtained in step (b) as basis for subsequent calculation.
A system for adjustment in calculation of insurance related fees for an insurance product, the system comprising
- a storage device, for storing pre-determined functions and adjustment functions;
- and
- at least one processor, configured to perform a method comprising steps of
- (a) determining type and sequence of adjustments;
- (b) applying one or more adjustments to an initial value obtained by a predetermined function, according to the type and sequence of adjustments as determined in step (a);
- and
- (c) serving an adjusted value so obtained in step (b) as basis for subsequent calculation.
Dependencies are inferred from the claim text.