Abstract: The present invention provides a method for providing an annuity structure and a system for processing an annuity structure. The annuity structure may include a base portion segment, where the base portion segment is a functional annuity having a first annuity schedule; and a secondary portion segment, where the secondary portion segment is a functional annuity having a second annuity schedule. In the invention, the base portion segment and the secondary portion segment each operate as its own annuity. Also, the base portion segment and the secondary portion segment are each included in a single contract, i.e., under the umbrella of one contract.

Abstract: A computer implemented method and system that implements a benefit product that provides a guaranteed income amount for a participant, the benefit product generates the guaranteed income amount by participating in a plurality of guaranteed income products (GI products). The system may comprise: (1) an income aggregator portion; (2) a savings recordkeeper portion that maintains an investment account associated with the benefit product, the investment account into which the payments to the benefit product pass; and (3) at least one income recordkeeper portion, each income recordkeeper portion administering one or more GI products, each income recordkeeper portion: determining, based on an attributable allocation to a particular GI product, a guaranteed income associated with such particular GI product, each guaranteed income being an amount, attributable to the particular GI product, that is payable to a participant.

Abstract: The invention provides systems, and methods of using the systems, implementing a benefit product with a guaranteed minimum income, wherein payment into the benefit product securing the guaranteed minimum income. The system comprises an income recordkeeper interfacing with a plurality of savings recordkeepers, the income recordkeeper including (1) an income recordkeeper interface portion that inputs attributes to the benefit product funded by payments from a plan associated with the benefit product; and (2) an income recordkeeper record keeping system that implements the benefit product, the income recordkeeper record keeping system being in communication with the income recordkeeper interface portion, the income recordkeeper record keeping system: (a) monitoring transactions to or from the benefit product; and (b) determining, based on the transactions, a guaranteed minimum income associated with participation in the benefit product.

Abstract: A computer implemented method and system that implements a benefit product that provides a guaranteed income amount for a participant, the benefit product generates the guaranteed income amount by participating in a plurality of guaranteed income products (GI products). The system may comprise: (1) an income aggregator portion; (2) a savings recordkeeper portion that maintains an investment account associated with the benefit product, the investment account into which the payments to the benefit product pass; and (3) at least one income recordkeeper portion, each income recordkeeper portion administering one or more GI products, each income recordkeeper portion: determining, based on an attributable allocation to a particular GI product, a guaranteed income associated with such particular GI product, each guaranteed income being an amount, attributable to the particular GI product, that is payable to a participant.

Abstract: The present invention provides a method for providing an annuity structure and a system for processing an annuity structure. The annuity structure may include a base portion segment, where the base portion segment is a functional annuity having a first annuity schedule; and a secondary portion segment, where the secondary portion segment is a functional annuity having a second annuity schedule. In the invention, the base portion segment and the secondary portion segment each operate as its own annuity. Also, the base portion segment and the secondary portion segment are each included in a single contract, i.e., under the umbrella of one contract.

Abstract: A system and method for assessing risk is provided. The method comprises determining an investment index associated with investment by an insurance company in an insurance pool. Next, the method comprises determining a return index associated with an expected return to the insurance company from participating in the insurance pool; and determining a benefit index based on the investment and return indices. The system for assessing risk comprises an assessment module for assessing risks associated with an insurance company's participation in an insurance pool based on at least one of: an investment index associated with the costs of participating in the insurance pool, and a return index associated with the benefits of participating in the insurance pool.

Abstract: The invention provides systems, and methods of using the systems, for implementing a benefit product with a guaranteed minimum income. Payment into the benefit product secures the guaranteed minimum income for a payout phase following an accumulation phase of the benefit product. The system comprises an income recordkeeper interfacing with a plurality of savings recordkeepers. The income recordkeeper includes (1) an income recordkeeper interface portion that inputs attributes to the benefit product funded by payments from a plan associated with the benefit product; and (2) an income recordkeeper record keeping system that implements the benefit product. The income recordkeeper record keeping system: (a) monitors transactions to or from the benefit product; and (b) determines, based on the transactions, a guaranteed minimum income associated with participation in the benefit product, the guaranteed minimum income being an amount that may be paid from the benefit product beginning on a future start date.

Abstract: A method and system for fusing a collection of classifiers used for an automated insurance underwriting system and/or its quality assurance is described. Specifically, the outputs of a collection of classifiers are fused. The fusion of the data will typically result in some amount of consensus and some amount of conflict among the classifiers. The consensus will be measured and used to estimate a degree of confidence in the fused decisions. Based on the decision and degree of confidence of the fusion and the decision and degree of confidence of the production decision engine, a comparison module may then be used to identify cases for audit, cases for augmenting the training/test sets for re-tuning production decision engine, cases for review, or may simply trigger a record of its occurrence for tracking purposes. The fusion can compensate for the potential correlation among the classifiers.

Abstract: The present invention relates generally to systems, methods and software applications for storing, retrieving, and displaying information. More particularly, the present invention relates to providing a comprehensive, interactive tool for storing, retrieving, and displaying agent identifying information and agent commission information. The method of the present invention comprises the steps of: receiving agent identifying information and agent commission information; analyzing and sorting the received agent identifying information and agent commission information; saving the agent identifying information and the agent commission information; providing an interactive display of the agent identifying information and the agent commission information; providing interactive access to a display of detailed agent identifying information; and providing interactive access to a display of detailed agent commission information.

Abstract: A system and method for providing a user with a portable benefit based on a formula the result of which indicates the exact guaranteed minimum periodic income that the user will receive no matter how long the user lives and the potential for an increase in the periodic income. The system comprises a defined contribution module for periodically receiving at least one of a sponsor contribution and a participant contribution and for accumulating value over a period of time by investing at least one of the sponsor contribution and the participant contribution or any portion(s) thereof in any number of select investment options, the accumulated value being capable of being withdrawn at any time and reinvested in any other select investment options being paid out after a predetermined period of time The guaranteed minimum income payment may be based on a retirement income formula.

Abstract: A process is described for evaluating the decision-making confidence of a process and system for at least a partial underwriting of insurance policies where placement of an insurance application to an underwriting category is based on its similarity to previous insurance applications. The confidence factor computed is a measure of the correctness of the decision for a given application for insurance.

Abstract: A system and method for providing sales-related data over a network. The method includes the steps of receiving a request for sales-related data from a user, receiving request-related information from the user and generating the sales-related data based on the received request-related information. The request may be from a user at a broker address. The method further includes the steps of accessing broker information from a broker information database based on the broker address and displaying at least a portion of the broker information with at least a portion of subsequent information presented to the user.

Abstract: A robust process for automating the tuning and maintenance of decision-making systems is described. A configurable multi-stage mutation-based evolutionary algorithm optimally tunes the decision thresholds and internal parameters of fuzzy rule-based and case-based systems that decide the risk categories of insurance applications. The tunable parameters have a critical impact on the coverage and accuracy of decision-making, and a reliable method to optimally tune these parameters is critical to the quality of decision-making and maintainability of these systems.

Abstract: A robust system for automating the tuning and maintenance of decision-making systems is described. A configurable multi-stage mutation-based evolutionary algorithm optimally tunes the decision thresholds and internal parameters of fuzzy rule-based and case-based systems that decide the risk categories of insurance applications. The tunable parameters have a critical impact on the coverage and accuracy of decision-making, and a reliable method to optimally tune these parameters is critical to the quality of decision-making and maintainability of these systems.

Abstract: A process for at least a partial underwriting of insurance policies is described. Various rules are created, along with a degree of satisfaction for each rule. Rules may be directed toward various insurance underwriting components (e.g., cholesterol levels, blood pressure, etc.). Based on the degree of satisfaction for each rule, a component may be assigned to a category. Based on the category for each component, the insurance application may be assigned an underwriting category.

Abstract: A process for at least a partial underwriting of insurance policies is described. Based on the similarity to previous insurance applications, a decision on the current request for underwriting may be made. This decision-making process represents an analogical approach to the placement of an insurance application to an underwriting category, whereby a given insurance application request is compared to previous requests.

Abstract: A system and method for providing sales-related data over a network. The method includes the steps of receiving a request for sales-related data from a user, receiving request-related information from the user and generating the sales-related data based on the received request-related information. The request may be from a user at a broker address. The method further includes the steps of accessing broker information from a broker information database based on the broker address and displaying at least a portion of the broker information with at least a portion of subsequent information presented to the user.

Abstract: A system is described for evaluating the decision-making confidence of a process and system for at least a partial underwriting of insurance policies where placement of an insurance application to an underwriting category is based on its similarity to previous insurance applications. The confidence factor computed is a measure of the correctness of the decision for a given application for insurance.

Abstract: A method and system for automating the decision-making process used in underwriting of insurance applications is described. While this approach is demonstrated for insurance underwriting, it is broadly applicable to diverse decision-making applications in business, commercial, and manufacturing processes. A structured methodology is used based on a multi-model parallel network of multivariate adaptive regression splines (“MARS”) models to identify the relevant set of variables and their parameters, and build a framework capable of providing automated decisions. The parameters of the MARS-based decision system are estimated from a database consisting of a set of applications with reference decisions against each. Cross-validation and development/hold-out combined with re-sampling techniques are used to build a robust set of models that minimize the error between the automated system's decision and the expert human underwriter.

Abstract: An outlier detector that exploits the existing risk structure of the decision problem in order to discover risk assignments that are globally inconsistent is described. The technique works on a set of candidates for which risk categories have already been assigned. In the case of insurance underwriting, the invention pertains to the premium class assigned to an application. For this set of labeled candidates, the system finds all such pairs of applications belonging to different risk categories, which violate the principle of dominance. The invention matches the risk ordering of the applications with the ordering imposed by dominance and uses any mismatch during the process to identify applications that were potentially assigned incorrect risk categories.