Patent ID: 8428976
Filing Date: 2013-04-23
Classification: G06Q

Abstract:
1. A method of determining a renewal deductible for an insurance policy, the method comprising: providing a computer having a processor; providing a plurality of interrelated tables, each table of the plurality of interrelated tables including a plurality of policy variables; extracting, using the processor, a first key reference from a first table, the first key reference identifying a first specific group of the policy variables; retrieving a current deductible associated with the insurance policy; matching, using the processor, the first key reference to a second table including a default deductible, a new deductible indicator having either a positive state or a negative state, an available deductible key reference, and a next higher deductible indicator having either a positive or a negative state; retrieving, using the processor, the default deductible, the new deductible indicator, and the next higher deductible indicator from the second table; determining, using the processor, that the default deductible is less than the current deductible; determining, using the processor, that the new deductible indicator is in the negative state; retrieving, using the processor and the available deductible key reference, a plurality of available deductibles from a third table; determining, using the processor, that the plurality of available deductibles does not include the current deductible; setting the renewal deductible equal to the available deductible of the plurality of available deductibles higher than and closest to the current deductible if the next higher deductible indicator is in a positive state; and setting the renewal deductible equal to the available deductible of the plurality of available deductibles less than and closest to the current deductible if the next higher deductible indicator is in a negative state.