Abstract: A method for modeling insurance coverage includes displaying within a user interface, claim scenario parameters for an insurance policy issued to a member, wherein the insurance policy includes a coverage limit associated with damage to the property and injury to the person. The method also includes receiving a value associated with each of the plurality of claim scenario parameters, generating a claim scenario, using the processor, the data related to the plurality of claims, and the values associated with each of the plurality of claim scenario parameters, and generating, using the processor and the claim scenario, a plurality of coverage parameter disparities including a difference between the coverage limit associated with damage to the property and the monetary amount for the damage to the property and a difference between the coverage limit associated with injury to the person and the monetary amount for the injury to the person.

Abstract: Systems and methods are disclosed for processing binary options (also referred to as digital options) in existing clearing systems, such as futures clearing systems. The binary option is treated, or processed, similar to standard options on a non-tradeable cash-settled underlying futures contract. A hypothetical instrument, referred to as a book instrument is created to facilitate clearing of the binary option. The book instrument has an expiration date after the expiration of the binary option, such as the day after the expiration of the binary option. For each binary option that expires in the money, a transaction is created for the book instrument future. The underlying book future has an assigned price that is a fixed amount less that the final price for the underlying statistical or actual value of the binary option at expiration. Transactions are loaded in the clearing system and processed and all positions are liquidated.

Abstract: The disclosed embodiments utilize hedge ratios to determine the optimal hedge ratio and associated scanning spread. This tells traders what ratios of the quantities of products they should have in their portfolio in order to maintain the status of the portfolios as delta neutral, i.e. be delta hedged, and receive optimal margin credits therefore.

Abstract: An automatic Financial Risk Cover configuration which receives returns behaviors connecting statistical behavior of each potential allocation of a submanager to a resultant statistical behavior of a Financial Risk Cover associated with a client portfolio, creates a total set of Financial Risk Cover configurations using genetic optimization processes to produce unpredictable variations of configurations, simulates and models each configuration in the total set against a set of potential or expected transient market events representative of a plurality of combinations of transient events, removes from the total set each configuration which fails to meet performance objectives during the modelling from said total set of configurations; and outputs each remaining configuration in the total set, wherein each configuration represents a plurality of investment instruments, each investment instrument being associated with an initial cash position.

Abstract: Methods and systems are provided for determining and displaying amounts for use in settling insurance claims are disclosed. Closed claims that match an open claim are identified based on one or more characteristics of the open claim. A likelihood value associated with at least one of the matching closed claims is determined. An amount for use by an adjuster in settling the open claim is determined based on the likelihood value for at least one of the matching claims. A most likely amount and most likely range associated with the open claim may be determined based on the likelihood values.

Abstract: An apparatus, a system, and a method are provided to pay a dispensing fee to a pharmacy and configured to replenish a pharmacy's inventory with prescription drugs by a wholesaler at no cost. Rather than being replenished for any prescription drug dispensed to a patient, a pharmacy would be paid a dispensing fee. To compensate for the wholesaler for replenishing the pharmacy at no cost, the wholesaler would receive an administrative fee. Furthermore, order rights are maintained for each participating pharmacy and wholesaler and monitor and record the transfer of order rights from a pharmacy to a wholesaler and the execute or the use by the wholesaler of the order rights. The order rights may include, in the alternative, a right assigned to the pharmacy to replenish the prescription drug dispensed or a different prescription drug for credit.

Abstract: A method of computerized monitoring of investment trading includes providing historic trading data for a specific trader, selecting a plurality of trading parameters for the specific trader and obtaining current information regarding the selected parameters, and/or providing historic trading data and applying rules to the current information and/or historic trading data to determine if a rules violation has occurred. The system may be employed to monitor whether market timing of mutual fund investments has occurred. A corresponding computerized system is disclosed.

Abstract: An insurer sells a life insurance policy with two distinct coverage periods. Prior to accepting the offer of insurance, the insurer underwrites the insurance contract on a limited basis using information obtainable by querying a remote database. During the first coverage period, full coverage is provided and the premium rates approximate a comprehensively underwritten risk. The value of coverage provided at the end of the first coverage period may be reduced if the insured fails to satisfy various obligations. If before a contractually defined compliance period the insured undergoes medical tests and submits blood, urine, or other tissue samples to an underwriter or approved laboratory, the underwriter comprehensively underwrites the policy. If the comprehensive underwriting is satisfactory, the insurance contract is amended, modified, or replaced with a new contract effectively extending full coverage for a longer, extended coverage period, while maintaining or even reducing the premiums owed.

Abstract: In a trading environment that comprises buy side traders and securities brokers, a computer process capable of preventing securities brokers from receiving information irrelevant to a commission payment for a securities transaction. The process comprises means for providing an overview of commission payments for a predetermined time period, means for providing details of step-out payments for the predetermined period, means for adjusting step-in amounts and frequencies, means for providing notification that a commission payment has been stepped out and is capable of being credited, means for automatically suggesting and performing step-ins and step-outs, and means for assessing the step-outs and step-ins against a predetermined budget.

Abstract: A method of computerized monitoring of investment trading includes providing historic trading data for a specific trader, selecting a plurality of trading parameters for the specific trader and obtaining current information regarding the selected parameters, and/or providing historic trading data and applying rules to the current information and/or historic trading data to determine if behavior of interest which may involve a rules violation, a departure from the rules which is not technically a violation or a potential departure from the rules which might make desirable further investigation has occurred. The system may be employed to monitor whether market timing of mutual fund investments has occurred. A corresponding computerized system is disclosed.

Abstract: A business reply mail payment system and method is provided. A business reply mail payment system establishes a master account with the postal system for the payment of business reply mail. A plurality of mailers each establish a separate account with the payment system and transfer control of payment for business reply mail accepted under their respective permit imprints to the payment system. When the mailer will be receiving business reply mail, a request for payment of postage is made to the payment system, which processes the information related to the business reply mail. The post office acceptance site communicates with the payment system as the business reply mail is received and compares the received business reply mail with the information processed by the payment system to determine if it should be accepted or rejected. If the business reply mail is accepted, the master account is debited for payment.

Abstract: Secure image bidding system process for financial transactions, including structured investment products, escrows and interest rate swaps. Some embodiments provide a secure image bidding system and process for image-based bid transmissions where each of a plurality of bids received by the system is encrypted and held in a digital “Vault” until the specified end of the bid period, at which time a package containing the encrypted bids, a log of server activity, and a digital checksum of the original bid file is sent via electronic mail to the bid broker and other participants. A second electronic mail message is sent to the bid broker and other participants containing the decryption key. During the bid process, no party has access to the bid information and there is no human interaction in the receipt, conversion to image, encryption, storage or conveyance of compiled information.

Abstract: An architecture and method for bill presentment using a web-based tool is disclosed. A common architecture collects billing data from multiple business technology systems and present the billing data on a bill. A user-friendly tool allows internal billing personnel and system administrators to configure the content and format of a bill before presenting it to customers. A method provides external customers with drilldown ability, enabling them to view both summary and detailed billing data and related information necessary to understand and pay the bill.

Abstract: Systems and methods are provided to determine an estimated value of a traded fund whose assets are not publicly disclosed on a daily basis, where a computer system includes one or more computers and is programmed to determine an estimated value of the traded fund. Embodiments include operating the computer system to calculate an estimated value of the traded fund based on the value of a proxy portfolio, where the identities of the assets of the traded fund are not disclosed to an investor who trades shares of the traded fund on a secondary market, and publicly disclosing the estimated value of the traded fund periodically throughout a trading day.

Abstract: The present invention relates to, among other things, systems and methods for generating a metric of an entity's financial status relative to a financial goal. In generating the metric, the value of an entity's total assets is simulated over time based on data comprising historical rates of returns. In one embodiment, the present invention provides a computer system and method for generating a metric of an individual's probable present-day financial status relative to financial independence on a desired future date. In this embodiment, the metric is called a Financial Independence Score. The Financial Independence score is a single number that represents the individual's financial status relative to achieving financial independence by a desired date.

Abstract: A quantity of an item referenced within a multilevel bill of material (BOM) is determined. A price bid for the item is received into an application framework from a supplier. The price bid is associated with the item. The cost of the multilevel BOM is determined based on the quantity of the item and the price bid.

Abstract: System and methods for checking portfolios used to model the behavior of actively managed funds to facilitate intra-day trading of actively managed exchange traded funds (AMETFs) without revealing the fund assets. Exchange traded notes based on an underlying actively managed fund without revealing the fund assets. Computer means are used to perform a statistical comparison between a model portfolio and the AMETF, and a statistical comparison compares the periodic values, returns, or risk characteristics of the model portfolio and the financial instrument over some period of time, periodically sending or publishing the results of the statistical comparison. The model portfolio does not reveal the assets of the financial instrument.

Abstract: Methods and systems for detecting fraud based on velocity counts are disclosed.

Abstract: A system and method for funding a collective account such as a charitable account includes issuing a plurality of financial instruments, linking the financial instruments to the collective account, aggregating individual financial instrument usage, calculating a bonus or other reward based on the aggregate financial instrument usage and funding or distributing the reward to the collective account. According to the invention, members of a civic, charitable, political or other entity may generate collective rewards or other benefits which may be attributed to the designated organization.

Abstract: Described are computer-based methods and apparatuses, including computer program products, for detecting fraudulent activity on a network. A user utilizes a transmitting device to transmit user requests that are split between a plurality of data centers for processing. The user requests are captured at the data centers. The user requests are unified into a user session. The user session can be analyzed for fraud detection, marketing analysis, network intrusion detection, customer service analysis, and/or performance analysis. If fraudulent activity is detected, then the user can be interdicted to prevent further fraudulent activity.