Integrated system for the administration of an insurance company
AssigneePeopleSoft, Inc.
InventorsGerald Peters, Jon Sykes, Arthur Pennington
Life of this patent
Estimating the term…
Abstract
An integrated system for the administration of insurance companies is disclosed which includes a personal computer, a network and one or more file servers. The system further includes software for performing a plurality of functions which are interconnected and automatic. Manually entered data is verified, integrated into the database and the appropriate functions performed. A built-in audit system allows all transactions to be retrieved and all communications to be documented. The system further includes an automatic system for profiling the program to the needs of an individual insurance company so that all transactions correspond to the desired features and parameters selected by the user.
Claims16
An integrated system for the real time administration of insurance companies, said system comprising:
- a plurality of personal computers that are networked together;
- at least one of said personal computers comprising an activity processor;
- at least one of said personal computers comprising an activity scheduler;
- at least one file server operatively connected to said network;
- means for real time performance of a plurality of predetermined insurance functions, said functions comprising cashiering, disbursements, document processing, and billing;
- manual entry means for entering data relative to any of said functions;
- data receiving and verifying means for receiving and verifying data from any of said personal computers, said manual entry means and said at least one file server against at least one predetermined standard;
- means responsive to said entered data and received data for real time updating data relative to any of said functions when desired;
- data file means for storing data;
- display means for displaying any of said data;
- means for predefining via said activity scheduler that selected first types of entered data are to be processed by said activity processor in real time and that selected second types of entered data are to be queued for processing at another time;
- menu driven means for defining an insurance product in response to menu selections made by a user;
- and
- menu driven means for receiving an application for insurance into said network by displaying, via said display means, screens that vary depending upon a selected insurance product.
An improved method of configuring a personal computer based network system to the real time requirements of an insurance company, said method comprising the steps of:
- generating a series of displayed questions to a user for defining at least minimum characteristics of an insurance product concerning an insured and a beneficiary, whether multiple beneficiaries are permitted for a particular insurance policy, and what form letters are to be used for particular occasions, for each of various insurance products to be defined;
- receiving corresponding answers to said questions into said personal computer network and using said answers to define insurance products;
- electronically receiving and converting to data an application for insurance into said network via display menu screens that vary depending upon the insurance product that is desired and the menu selections made by said user;
- deeming at least one of said personal computers an activity scheduler and deeming at least one of said personal computers an activity processor;
- and
- processing said data and said answers in real time via the operations of said activity scheduler and said activity processor.
An integrated system for the real time administration of insurance companies, said system comprising:
- a plurality of personal computers that are networked together;
- at least one of said personal computers comprising an activity processor;
- at least one of said personal computers comprising an activity scheduler;
- at least one file server operatively connected to said network;
- means for real time performance of a plurality of predetermined insurance functions, said functions comprising cashiering, disbursements, document processing, and billing;
- manual entry means for entering data relative to any of said functions;
- data receiving and verifying means for receiving and verifying data from any of said personal computers, said manual entry means and said at least one file server against at least one predetermined standard;
- means responsive to said entered data and received data for real time updating data relative to any of said functions when desired;
- data file means for storing data;
- display means for displaying any of said data;
- means for predefining via said activity scheduler that selected first types of entered data are to be processed by said activity processor in real time and that selected second types of entered data are to be queued for processing at another time;
- menu driven means for defining an insurance product in response to menu selections made by a user;
- menu driven means for receiving an application for insurance into said network by displaying, via said display means, screens that vary depending upon an selected insurance product;
- means for providing a retrievable audit history of every function processed by said system, said audit history at least retrievable by date, time, and transaction type;
- means for defining a hierarchy of insurance agents comprising who each insurance agent reports to and who reports to each agent, said means selectively defining thereby a corresponding hierarchy for each insurance product;
- means for real time calculation of commissions for insurance agents based on where an agent is in said hierarchy;
- means for the real time reversal of any transaction;
- means for changing an insurance agent's commission when a relevant transaction is reversed;
- means for calculating commission tax information;
- and
- means for printing a commission tax form.
Dependencies are inferred from the claim text.