Patent ID: 8788295
Filing Date: 2014-07-22
Classification: G06Q

Abstract:
1. A system for defining an insurance product offering based upon reusable components comprising: a server configured to communicate via a network, the server further configured to interface with an insurance component library database and an insurance product database, wherein the insurance component library database is configured to store a plurality of insurance components, and the insurance product database is configured to store at least one insurance product, and wherein the server is further configured to communicate over the network with at least one engine server comprising a plurality of configurable engines configured to pass instructions and data between the server and an engine database; the server configured to communicate with a user portal via the network, the user portal configured to generate an insurance product development interface to display at least a portion of the insurance component library; the server further configured to receive via the user portal a first selection of a first insurance component and a second selection of a second insurance component from the plurality of insurance components displayed on the user portal; the server further configured to receive via the user portal an assignment of a component relationship between the first insurance component and the second insurance component; the server further configured to receive via the user portal a first selection of a first rule type for the first insurance component, wherein the first rule type and the component relationship are mapped to a first configurable content resident on one of the plurality of configurable engines of the at least one engine server, the one of the configurable engines identified by the server based on an association of the one of the configurable engines and the selected first and second components, the configurable content being configured in the identified one of the configurable engines in response to the rule type and the component relationship for access and control by the server to support the insurance product offering; and the server further configured to store an insurance product in the insurance product database as a function of the first insurance component, the second insurance component, the assignment of the component relationship between the first insurance component and the second insurance component, and the first rule type for the first insurance component.