Lynn Murphy Abbott

Title: Innovations by Lynn Murphy Abbott

Introduction

Lynn Murphy Abbott is a notable inventor based in Minneapolis, MN (US). She has made significant contributions to the field of financial technology, particularly in the area of annuities and investment products. With a total of 2 patents, her work reflects a deep understanding of market dynamics and consumer needs.

Latest Patents

Abbott's latest patents include a method for automatic income adjustment. This innovative approach involves receiving market data related to an investment product that specifies two guaranteed annual withdrawal amounts. The method allows for the automatic selection of a withdrawal amount based on an evaluation of the market data, ensuring that investors can optimize their income based on current market conditions.

Another significant patent is a system and method for determining and administering an annuity with a guaranteed minimum accumulation benefit. This computer-implemented method calculates the value of a benefit for an annuity contract that includes a minimum contract accumulation value provision. The process involves determining the current minimum contract accumulation value and the current value of the annuity contract investments, among other steps, to ensure that the annuity remains beneficial for the investor.

Career Highlights

Lynn Murphy Abbott is currently employed at Ameriprise Financial, Inc., where she continues to innovate in the financial services sector. Her work has been instrumental in developing products that cater to the evolving needs of investors.

Collaborations

Abbott has collaborated with notable colleagues such as Douglas K. Dunning and Joseph Patrick Heckel. These partnerships have allowed her to enhance her inventions and contribute to the advancement of financial technology.

Conclusion

Lynn Murphy Abbott's contributions to the field of financial technology through her patents demonstrate her innovative spirit and commitment to improving investment products. Her work continues to influence the industry and provide valuable solutions for investors.