Patent ID: 8103577
Filing Date: 2012-01-24
Classification: G06Q

Abstract:
1. A computer-implemented system for trading a viatical and life settlement insurance policy, comprising: (a) means for receiving a selling price of the viatical and life settlement insurance policy, the selling price being provided by a seller of the viatical and life settlement insurance policy; (b) means for dividing the viatical and life settlement insurance policy into a plurality of units so that ownership of the viatical and life settlement insurance policy can be shared; (c) means for determining a price of one unit based on the number of units; (d) means for receiving a purchase price of the viatical and life settlement insurance policy, the purchase price being provided by at least one potential purchaser of the viatical and life settlement insurance policy; (e) means for initially determining the number of units bought by the potential purchaser in order to be allocated depending on the purchase price; (f) means for comparing the total number of units allocated to the potential purchaser with the total number of units into which the viatical and life settlement insurance policy was divided by the means for dividing; (g) means for adjusting the price of one unit based on the comparison carried out by the means for comparing, wherein the means for adjusting the price raises the price of one unit, if the total number of units bought by the potential purchaser exceeds the total number of units into which the viatical and life settlement insurance policy is divided, otherwise the means for adjusting the price reduces the price of one unit, and wherein the means for adjusting the price determines a rate by dividing the total number of units of the viatical and settlement insurance policy by the initially determined number of units bought by the potential purchaser to determine a rate, and multiplying the price of one unit by the rate to determine the adjusted purchase price of one unit; and (h) means for redetermining the number of units of proprietary rights of the potential purchaser based on the adjusted purchase price of one unit, wherein the initially determined units for the potential purchaser are reallocated depending on the adjusted purchase price; wherein the means for comparing, the means for adjusting the price, and the means for redetermining repeat carrying out their functions for a given amount of time.