Systems and methods for customizing insurance
AssigneeAllstate Insurance Company
InventorsFloyd M. Yager, Thomas J. Wilson
Life of this patent
Estimating the term…
Abstract
Systems and methods provide customizable insurance according to consumer preferences. Demand simulators may be used to guide the creation of optimized packages of features, which consumers may select from to form an insurance product appropriate for their particular needs. Packages may be formed with a particular appeal to consumers with common characteristics. In addition, methods are provided for selling insurance products formed through an optimization process and providing corresponding insurance services.
Claims11
A method of providing insurance coverage, the method comprising:
- (a) receiving at a computer device from an insured a premium for an insurance policy that includes at least one optional feature that provides a reward;
- (b) determining at the computer device when an event is covered by the insurance policy;
- and
- wherein one of the at least one optional feature provides that:
- upon enrollment the insured will be granted a deductible reduction amount to be applied to at least one deductible during the policy period;
- and
- when no rate affecting events are assigned to the insurance policy during an experience period, then granting an additional deductible reduction amount to be applied to at least one claim during a subsequent policy period.
A method of providing insurance coverage, the method comprising:
- (a) receiving at a computer device from an insured a premium for an insurance policy that includes at least one package having a grouping of insurance features that share a common attribute;
- (b) determining at a computer device when an event is covered by the insurance policy;
- and
- wherein a feature included within the grouping of insurance features provides that:
- upon enrollment the insured will be granted a deductible reduction amount to be applied to at least one deductible during the insurance policy period;
- and
- when no rate affecting events are assigned to the insurance policy during an experience period, then granting an additional deductible reduction amount to be applied to at least one deductible during a subsequent insurance policy period.
Dependencies are inferred from the claim text.