Stephen V Deschenes

US Patent:

20090171831, Jul 2, 2009

Filed:

Dec 27, 2007

Appl. No.:

11/964980

Inventors:

Mark C. Leonard - North Reading MA, US
Ross Mark Krinsky - Southborough MA, US
Stephen Luke Deschenes - Wellesley MA, US

Assignee:

FMR LLC - Boston MA

International Classification:

G06Q 40/00

US Classification:

705 37, 705 4

Abstract:

Described are computer-based methods and apparatuses, including computer program products, for managing insurance plans. Multiple bids are received from multiple reinsurance companies for the price of a unit of an insurance product (e.g., a fixed annuity paying ten dollars a month starting at the age of sixty five). The unit of the insurance product is associated with a set of one or more risk factors (e.g., age, range of ages). A bid is selected from the bids based on a relationship between the bids (e.g., lowest bid, lowest weighted bid). The selected bid is associated with a selected reinsurance company. Units of the insurance product associated with the selected bid are offered to participants associated with the set of one or more risk factors.