Patent ID: 6332125
Filing Date: 2001-12-18
Classification: G06Q

Abstract:
A computer-based method for use in connection with an insurance product under which an insurer will provide termination benefits to employees of an employer who are non-voluntarily terminated from employment by the employer, the method comprising:storing historical information about rates of termination of employees of the employer who are non-voluntarily terminated during a predetermined historical period, and historical information indicative of periods of time during which employees who are non-voluntarily terminated are expected to remain unemployed,based on the stored historical information, estimating an amount of money that will be required to pay termination benefits under the insurance product to employees who are non-voluntarily terminated, assuming a continuation of the historical termination rates,determining a price for the insurance product that is smaller than the estimated amount of money so that the employer's cost for termination benefits will be smaller under the insurance product than without the insurance product, andmaking the price available to a party for use in connection with offering the insurance product to the employer.