Methods and systems for implementing dynamic billing
US10990938B2 · kind B2 · utility
Assignee
Inventors
Key dates
| Filing date | Nov 17, 2015 |
| Grant date | Apr 27, 2021 |
| Priority date | — |
| Expiry date | Jun 16, 2036 |
Classification
- Technology area (CPC G)Physics
- CPC primaryG06Q40/08
- WIPO fieldIT methods for management
- WIPO sectorElectrical engineering
Abstract
Described herein are methods and systems for administering a life insurance policy that provide an alternative to the traditional approach by querying a client for a set of coverage objectives and using a set of algorithms to automatically adjust billed premiums on an ongoing basis to maintain the client-specified coverage objectives—a methodology referred to herein as “dynamic billing.” Dynamic billing enables clients to take corrective action sooner than it would otherwise be taken and/or provides an automated mechanism or prompt for clients to take such action on an ongoing basis. For example, in certain embodiments, the disclosed technology computes adjusted premiums and allows the policy owner to be billed the amount required to keep his/her policy on track with his/her current insurance policy objectives.
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.