Patent ID: 8438045
Filing Date: 2013-05-07
Classification: G06Q

Abstract:
1. Apparatus for providing an efficient market for insurance and reinsurance, comprising: a data processing system having one or more program executing computers, a data storage device, and an output device; a plurality of insurance underwriting standards data records stored in said data storage device containing insurance underwriting standards from a plurality of insurers; computer programs executing on the one or more program executing computers of said data processing system for: compiling statistics regarding said plurality of stored data records containing insurance underwriting standards, said statistics data records being derived from said plurality of stored data records and not from a specific data record, and storing statistics data records in said data storage device; providing from said data processing system said statistics to a reinsurer; calculating a price to the reinsurer for providing said statistics data records in which the price is reduced for fees obtained from transactions associated with the reinsurer in accordance with a predetermined netbacking schedule stored in a netbacking database, said netbacking schedule defining a discount where increasing numbers of transactions executed through the system by the reinsurer generate discounts in the price to the reinsurer for the purchase of statistics data records, whereby said discount is determined by a product volume which is different from the product where the discount is given.