System and method for administering an advanced insurance component-based product
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United States of America Patent
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May 28, 2013
Grant Date -
Jun 23, 2011
app pub date -
Mar 26, 2010
filing date -
Dec 22, 2009
priority date (Note) -
In Force
status (Latency Note)
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Abstract
A system may include an insurance component selection platform that transmits data to and receives data from an insurance product component storage unit storing one or more self-descriptive components of an insurance coverage. Each of the stored components may have associated properties defining attributes of the component and one or more values associated with the properties. The components may be selected via a graphical interface generated by the component selection platform to be included in an insurance coverage product. The components may then be combined within constraints of the properties and values of the individual components. An insurance coverage policy may then be presented based on the combination of components.
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