Patents Assigned to Efficient Markets Corporation
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Publication number: 20140188525Abstract: A method and system of appraising a life insurance or annuity product includes receiving a request for a life insurance or annuity product and information about a party requesting the life insurance or annuity product; preparing a bid solicitation for the life insurance or annuity product based on the request and information and transmitting the bid solicitation to a plurality of product carriers; a plurality of product carriers submitting initial proposals for providing the life insurance or annuity product; generating ratings for the initial proposals, respectively; and generating appraisals for the initial proposals; and informing the product carriers of the decision.Type: ApplicationFiled: March 6, 2014Publication date: July 3, 2014Applicant: Efficient Markets CorporationInventors: Errol O. Kendall, James C. Brooks, JR., Robert W. Stern, Francis De Regnaucourt, Sharyn R. Kohen, Douglas A. French, Charles L. Ratner, Anson J. Glacy, JR.
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Publication number: 20140172469Abstract: A method for evaluating and scoring insurance products by interfacing with illustration engines relating to insurance products. The method includes calculating a series of cash flows for the proposed policy by applying a decrement factor to the set of values; calculating an internal rate of return for the proposed policy from the series of cash flows, and a statistical distribution of a plurality of internal rate of returns of a proposed policy for each of the one or more insurance products; determining a value for a quantitative scoring component for the proposed policy based on a comparison of the internal rate of return for the proposed policy to a quantitative factor; and obtaining an over score for the proposed policy by combining a plurality of values for each of a plurality of scoring components.Type: ApplicationFiled: January 16, 2014Publication date: June 19, 2014Applicant: EFFICIENT MARKETS CORPORATIONInventors: Errol O. KENDALL, Elizabeth A. Braswell, Samuel H. Turner, Keith J. Maurer
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Patent number: 8635093Abstract: A system for evaluating and scoring software products in which illustration engines relating to insurance products are run based on a common set of inputs. The illustration engines output a set of output metrics which are common to all illustration engines. The output metrics of products selected for comparison or evaluation are mathematically combined with each other and with the corresponding metrics of from all other illustration engines to determine a score which can be used to compare quickly and accurately the selected product against all other products in the database. The score may be determined by a weighted average in which the weights assigned to output metrics are adjustable at the user's discretion.Type: GrantFiled: November 19, 2012Date of Patent: January 21, 2014Assignee: Efficient Markets CorporationInventors: Errol O. Kendall, Elizabeth A. Braswell, Samuel H. Turner, Keith J. Maurer
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Publication number: 20130117049Abstract: A system for evaluating and scoring software products in which illustration engines relating to insurance products are run based on a common set of inputs. The illustration engines output a set of output metrics which are common to all illustration engines. The output metrics of products selected for comparison or evaluation are mathematically combined with each other and with the corresponding metrics of from all other illustration engines to determine a score which can be used to compare quickly and accurately the selected product against all other products in the database. The score may be determined by a weighted average in which the weights assigned to output metrics are adjustable at the user's discretion.Type: ApplicationFiled: November 19, 2012Publication date: May 9, 2013Applicant: Efficient Markets CorporationInventor: Efficient Markets Corporation
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Patent number: 8315891Abstract: A system for evaluating and scoring software products in which illustration engines relating to insurance products are run based on a common set of inputs. The illustration engines output a set of output metrics which are common to all illustration engines. The output metrics of products selected for comparison or evaluation are mathematically combined with each other and with the corresponding metrics of from all other illustration engines to determine a score which can be used to compare quickly and accurately the selected product against all other products in the database. The score may be determined by a weighted average in which the weights assigned to output metrics are adjustable at the user's discretion.Type: GrantFiled: September 15, 2011Date of Patent: November 20, 2012Assignee: Efficient Markets CorporationInventors: Errol O. Kendall, Elizabeth A. Braswell, Samuel H. Turner, Keith J. Maurer
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Patent number: 8229839Abstract: A method and system of appraising a financial product includes receiving a request for a financial product and information about a party requesting the financial product; preparing a bid solicitation for the financial product based on the request and information and transmitting the bid solicitation to a plurality of product carriers; a plurality of product carriers submitting initial proposals for providing the financial product; generating ratings for the initial proposals, respectively; and generating appraisals for the initial proposals; and informing the product carriers of the decision.Type: GrantFiled: August 13, 2010Date of Patent: July 24, 2012Assignee: Efficient Markets CorporationInventors: Errol O. Kendall, James C. Brooks, Jr.
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Patent number: 8024203Abstract: A system for evaluating and scoring software products in which illustration engines relating to insurance products are run based on a common set of inputs. The illustration engines output a set of output metrics which are common to all illustration engines. The output metrics of products selected for comparison or evaluation are mathematically combined with each other and with the corresponding metrics of from all other illustration engines to determine a score which can be used to compare quickly and accurately the selected product against all other products in the database. The score may be determined by a weighted average in which the weights assigned to output metrics are adjustable at the user's discretion.Type: GrantFiled: September 8, 2004Date of Patent: September 20, 2011Assignee: Efficient Markets CorporationInventors: Errol O. Kendall, Elizabeth A. Braswell, Samuel H. Turner, Keith J. Maurer
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Patent number: 7778912Abstract: A method and system of appraising a financial product includes receiving a request for a financial product and information about a party requesting the financial product; preparing a bid solicitation for the financial product based on the request and information and transmitting the bid solicitation to a plurality of product carriers; a plurality of product carriers submitting initial proposals for providing the financial product; generating ratings for the initial proposals, respectively; and generating appraisals for the initial proposals; and informing the product carriers of the decision.Type: GrantFiled: January 10, 2001Date of Patent: August 17, 2010Assignee: Efficient Markets CorporationInventors: Errol O. Kendall, James C. Brooks, Jr.
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Patent number: 7634420Abstract: A method and system of appraising a life insurance or annuity product includes receiving a request for a life insurance or annuity product and information about a party requesting the life insurance or annuity product; preparing a bid solicitation for the life insurance or annuity product based on the request and information and transmitting the bid solicitation to a plurality of product carriers; a plurality of product carriers submitting initial proposals for providing the life insurance or annuity product; generating ratings for the initial proposals, respectively; and generating appraisals for the initial proposals; and informing the product carriers of the decision.Type: GrantFiled: December 21, 2001Date of Patent: December 15, 2009Assignee: Efficient Markets CorporationInventors: Errol O. Kendall, James C. Brooks, Jr., Robert W Stein, Douglas A. French, Francis de Regnaucourt, Sharyn R Kohen, Charles L. Ratner, Anson J. Glacy, Jr.