Hartford Fire Insurance Compnay

Steve McConnell

Bradley Dean Molinsky

Katherine Read

Richard Balboni

Theresa Wadsworth

Ahmed Shaher

Robert Lukawicz

Edward Jaworski

Karen McQueeney Fisher

A computer system for processing of data associated with insurance coverage includes a data storage device storing data indicative of: an insured; a maximum benefit amount payable under the insurance coverage; a first category of risks; a second category of risks; a first benefit allocation corresponding to the first category of risks; and a second benefit allocation corresponding to the second category of risks; the benefit allocations being fractions of and totaling the maximum benefit amount. A processor of the system is configured to, responsive to the receipt of data indicative of a claim, determine eligibility for a benefit, and responsive to determining that the insured is eligible, provide output data indicative of a benefit amount, the benefit amount for each of the categories of risks having a maximum equal to the corresponding benefit allocation.

System and method for processing data related to insurance coverage for multiple risks

A computer system for processing of data associated with insurance coverage includes a data storage device storing data indicative of: an insured; an aggregate benefit amount, the aggregate benefit amount being a maximum benefit amount payable under the insurance coverage; a first category of health risks; a second category of health risks; a first benefit allocation corresponding to the first category of health risks; and a second benefit allocation corresponding to the second category of health risks; the benefit allocations being fractions of and totaling the aggregate benefit amount. A processor of the system is configured to, responsive to the receipt of data indicative of a claim, determine eligibility for a benefit, and responsive to determining that the insured is eligible, provide output data indicative of a benefit amount, the benefit amount for each of the categories of health risks having a maximum equal to the corresponding benefit allocation.

System and method for processing data related to insurance coverage for a plurality of risks

Disclosed is a novel security benefits product that provides customizable benefits to the purchaser for a variety of different triggering conditions. The product of the present invention may be sold to an individual or a group. The product contains a feature that allows a purchaser to modify and/or vary his or her coverage related to one or more serious health events, such as disability, accident, illness, or death. Additionally, a conversion feature is provided, which allows the insured individual who purchased the product through a third party to maintain the product of the present invention even after the individual is no longer affiliated with the third party.

System and method for administering dynamic security benefits and payments

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Marlborough, MA, United States of America

Steve McConnell