System And Method For Generating Insurance Coverage Packages

Abstract

Systems, methods means and computer program code for administering comprehensive protection plans are provided which include a computer system to process an insurance claim, the system having a first policy database storing policy data associated with a first type of insurance, a second policy database storing policy data associated with a second type of insurance, a requestor device and a claims processing system for receiving an insurance claim associated with a customer, determining that the claim involves a single loss event and more than one type of property damage, retrieving from the first policy database, information associated with a first policy of the customer and at least a second policy of the customer, the information including a first deductible associated with the first policy and a second deductible associated with the second policy, determining which of the first and second deductible to apply to the claim, and updating the first and second policy databases based on the determined deductible.

What is claimed is: 
     
         1 . A computer system for processing data relating to one or more insurance policies, comprising:
 one or more data storage devices configured to receive, store, and provide access to insurance coverage data, wherein the insurance coverage data includes, for one or more of a plurality of individual policy features, a corresponding feature identifier and one or more rules defining a compatibility of one or more of the plurality of individual policy features to one or more other individual policy features;   one or more computer processors coupled to the one or more data storage devices for executing program instructions and for retrieving the insurance coverage data from the one or more data storage devices;   a memory in communication with the one or more computer processors and storing the program instructions, the one or more computer processors operative with the program instructions to:
 receive a policy request from a remote user device; 
 identify at least two individual policy features from among the plurality of individual policy features based on (i) said policy request from said remote user device and (ii) a determination of the compatibility of said at least two individual policy features in the insurance coverage data based on said one or more rules associated with said at least two individual policy features; 
 assemble, responsive to said policy request and based on said one or more rules defining the compatibility of the one or more of the plurality of individual policy features, one or more insurance coverage packages including said at least two individual policy features; 
 determine, based on the two individual policy features, pricing information for each of the one or more insurance coverage packages; and 
 provide to the remote user device for display, data indicative of the assembled one or more insurance coverage packages and the determined pricing information. 
   
     
     
         2 . The computer system according to  claim 1 , wherein the one or more computer processors are further operative with the program instructions to:
 receive from the remote user device a user selection of a selected one of the one or more insurance coverage packages; and   process for issue an insurance policy including the selected one of the one or more insurance coverage packages.   
     
     
         3 . The computer system according to  claim 2 , wherein the one or more computer processors are further operative with the program instructions to, responsive to receipt of the user selection of one of the one or more insurance coverage packages:
 determine an alternative one of the one or more insurance coverage packages;   and   provide to the remote user device for display, data indicative of a comparison of the alternative one and selected one of the one or more insurance coverage packages.   
     
     
         4 . The computer system according to  claim 1 , wherein the insurance coverage data in the one or more data storage devices further includes one or more pricing rules associated with each feature identifier, and
 wherein the pricing information determined for each of the one or more insurance coverage packages is further based on the one or more pricing rules associated with each feature identifier.   
     
     
         5 . The computer system according to  claim 1 , wherein at least one of the one or more insurance coverage packages includes a one deductible loss provision feature wherein a single deductible is applied to a covered loss to more than one kind of property under more than one policy when the covered loss is caused by a single loss event. 
     
     
         6 . The computer system of  claim 1 , wherein the one or more computer processors are further operative with the program instructions to:
 store policy data associated with the selected one of the one or more insurance coverage packages, including data indicative of an individual customer; and   associate the stored policy data with policy data for an other insurance coverage package associated with the individual customer,   wherein the selected one of the one or more insurance coverage packages and the other insurance coverage package are for different property types.   
     
     
         7 . The computer system of  claim 1 , wherein the at least two individual policy features of the selected one of the one or more insurance coverage packages comprises one or more of a no-drop promise feature, a reimbursement for home services feature, a lifetime guarantee for repair services feature, a roadside assistance feature and a new car replacement guarantee feature, a 12-month policy feature, a first accident forgiveness feature, a disappearing deductible feature, a full cost to rebuild a home feature, a payment for an actual cost of replacing possessions feature, a deductible forgiveness feature, and a claim hotline feature. 
     
     
         8 . The computer system of  claim 1 , wherein the one or more processors being operative with the program instructions to assemble one or more insurance coverage packages comprises the one or more processors being operative with the program instructions to assemble one or both of base insurance packages the at least two individual policy features and base insurance packages and one or more riders to the base insurance packages that together include the at least two individual policy features. 
     
     
         9 . A computer-implemented method for processing data relating to one or more insurance policies, comprising:
 receiving, by a communication device, a policy request;   identifying, by one or more computer processors based upon insurance coverage data including, for one or more of the plurality of individual policy features, a corresponding feature identifier and one or more rules defining a compatibility of one or more of the plurality of individual policy features to one or more other individual policy, at least two individual policy features from among the plurality of individual policy features based on (i) said policy request from said individual and (ii) a determination of the compatibility of said at least two individual policy features in the insurance coverage data based on said one or more rules associated with said at least two individual policy features;   assembling, by the one or more computer processors and responsive to said policy request and based on said one or more rules defining the compatibility of the one or more of the plurality of individual policy features, one or more insurance coverage packages including said at least two individual policy features;   determining, by the one or more computer processors based on the two individual policy features, pricing information for each of the one or more insurance coverage packages;   providing for presentation on a user device, by the one or more computer processors, data indicative of the assembled one or more insurance coverage packages and the determined pricing information;   receiving, by the communication device, a selection of a selected one of the one or more insurance coverage packages; and   
       processing for issue, by the one or more computer processors, an insurance policy including the selected one of the one or more insurance coverage packages, the processing for issue including storing in a policy record data storage device a policy record associated with the insurance policy. 
     
     
         10 . The computer-implemented method according to  claim 9 , further comprising:
 receiving, by the one or more computer processors, from the remote user device a user selection of a selected one of the one or more insurance coverage packages; and   processing for issue, by the one or more computer processors, an insurance policy including the selected one of the one or more insurance coverage packages.   
     
     
         11 . The computer-implemented method according to  claim 10 , further comprising, responsive to receiving the selection of one of the presented insurance coverage packages:
 determining, by the one or more computer processors, an alternative one of the one or more insurance coverage packages; and   providing for presentation on the user device, by the one or more computer processors, data indicative of a comparison of the alternative one and selected one of the one or more insurance coverage packages.   
     
     
         12 . The computer-implemented method according to  claim 9 , wherein each feature identifier is associated with one or more pricing rules, and wherein determining pricing information for each of the one or more insurance coverage packages is further based on said one or more pricing rules associated with the at least two individual policy features identified in the policy request. 
     
     
         13 . The computer-implemented method according to  claim 9 , wherein at least one of the one or more insurance coverage packages includes a one deductible loss provision feature wherein a single deductible is applied to a covered loss to more than one kind of property under more than one policy when the covered loss is caused by a single loss event. 
     
     
         14 . The computer-implemented method of  claim 9 , wherein the stored policy record includes data indicative of an individual policy holder, the method further comprising:
 associating the stored policy data with policy data for an other insurance coverage package associated with the individual, the selected one of the one or more insurance coverage packages and the other insurance coverage package being for different property types.   
     
     
         15 . The computer-implemented method of  claim 14 , wherein the at least two individual policy features of the selected one of the one or more insurance coverage packages comprise one or more of a no-drop promise feature, a reimbursement for home services feature, a lifetime guarantee for repair services feature, a roadside assistance feature and a new car replacement guarantee feature, a 12-month policy feature, a first accident forgiveness feature, a disappearing deductible feature, a full cost to rebuild a home feature, a payment for an actual cost of replacing possessions feature, a deductible forgiveness feature, and a claim hotline feature. 
     
     
         16 . The computer-implemented method of  claim 9 , wherein assembling the one or more insurance coverage packages comprises assembling one or both of base insurance packages that include the at least two individual policy features or assembling the base insurance packages and one or more riders to the base insurance packages that together include the at least two individual policy features. 
     
     
         17 . A non-transitory computer-readable medium storing processor executable instructions, which when executed by a computer processor, cause the computer processor to:
 receive a policy request from a remote user device on behalf of an individual;   identify, based upon insurance coverage data including, for one or more of a plurality of individual policy features, a corresponding feature identifier and one or more rules defining a compatibility of one or more of the plurality of individual policy features to one or more other individual policy features, at least two individual policy features from among the plurality of individual policy features based on (i) said received policy request and (ii) a determination of the compatibility of said at least two individual policy features based on said one or more rules associated with said at least two individual policy features;   assemble, responsive to said policy request and based on said one or more rules defining the compatibility of the one or more of the plurality of individual policy features, one or more insurance coverage packages including said at least two individual policy features;   determine, based on the two individual policy features, pricing information for each of the one or more insurance coverage packages; and   provide for presentation on the user device data indicative of the assembled one or more insurance coverage packages and the determined pricing information.   
     
     
         18 . The non-transitory computer-readable medium of  claim 17 , wherein each of the feature identifiers is associated with one or more pricing rules, and wherein the pricing information generated for each of the one or more insurance coverage packages is further based on said one or more pricing rules associated with the at least two individual policy features identified in the policy request. 
     
     
         19 . The non-transitory computer-readable medium of  claim 17 , wherein the instructions further cause the one or more computer processors to:
 receive from the remote user device a user selection of a selected one of the one or more insurance coverage packages; and   determine an alternative one of the one or more insurance coverage packages; and   provide for presentation data indicative of the alternative one and selected one of the one or more insurance coverage packages.   
     
     
         20 . The non-transitory computer-readable medium of  claim 17 , wherein the instructions further cause the one or more computer processors to:
 associate the stored policy data with policy data of an other insurance coverage package associated with the individual;   wherein the selected one of the one or more insurance coverage packages and the other insurance coverage package are for different property types.