Abstract:
A method for modeling insurance coverage includes displaying within a user interface, claim scenario parameters for an insurance policy issued to a member, wherein the insurance policy includes a coverage limit associated with damage to the property and injury to the person. The method also includes receiving a value associated with each of the plurality of claim scenario parameters, generating a claim scenario, using the processor, the data related to the plurality of claims, and the values associated with each of the plurality of claim scenario parameters, and generating, using the processor and the claim scenario, a plurality of coverage parameter disparities including a difference between the coverage limit associated with damage to the property and the monetary amount for the damage to the property and a difference between the coverage limit associated with injury to the person and the monetary amount for the injury to the person.

Description:
CROSS-REFERENCES TO RELATED APPLICATIONS 
     This application is a continuation of U.S. patent application Ser. No. 12/050,362, filed on Mar. 18, 2008, the disclosure of which is hereby incorporated by reference in its entirety for all purposes. Related U.S. patent application Ser. Nos. 12/050,355, 12/050,385, 12/050,389, 12/050,410, 12/050,417, are hereby incorporated by reference in their entirety for all purposes. 
    
    
     BACKGROUND OF THE INVENTION 
     1. Field of the Disclosure 
     Embodiments of the disclosure relate in general to the field of computers and similar technologies, and in particular to software utilized in this field. Still more particularly, it provides a system, method, and computer-usable medium for the modeling of insurance coverage. 
     2. Description of the Related Art 
     Industry studies indicate that there is a general lack of awareness among consumers regarding their insurance coverage, with a large percentage of policy holders mistakenly believing that they are better protected than they actually are. Determining optimum levels of coverage is often challenging for a policy holder, since historical or statistical claim information is generally not available. However, even when appropriate claim information is available, its meaningful interpretation and application is still a major challenge for most policy holders. Accordingly, the services of an insurance professional are often required. Yet even professionals in the insurance industry are not always able to ascertain an optimum balance between appropriate coverage levels and acceptable premium costs. Consequently, many consumers are underinsured, exposing them to unforeseen financial liabilities. Conversely, some consumers incur needless insurance costs as a result of being inadvertently overinsured. 
     In view of the foregoing, there is a need for the ability to model the coverage of an insurance policy against a predetermined claim scenario and, once modeled, to adjust coverage parameters to determine the optimum level of coverage. It will be appreciated that the ability to graphically represent the resulting coverage model would further its usability. It will likewise be appreciated that these capabilities would be further enhanced by the ability to not only model the pricing effects that result from modifications to coverage parameters, but to also be able to automatically generate and fulfill a resulting policy. 
     SUMMARY OF THE INVENTION 
     The present disclosure includes, but is not limited to, a method, system and computer-usable medium for fulfilling modeled insurance coverage. In various embodiments, an insurance coverage modeler is implemented using a claim scenario generator to model the coverage of an insurance policy against a claim scenario. In these and other embodiments, coverage parameters and premiums of a current insurance policy are displayed within the user interface (UI) of a policy holder&#39;s information processing system. 
     A plurality of claim scenario parameters are then displayed within the insurance coverage modeler for selection. Once selected, the claim scenario parameters are used to select relevant claim data for the generation of a claim scenario. In one embodiment, the claim data is historical and is collected from actual events that have been documented. In another embodiment, the claim data is representative peer data. Once the claim scenario parameters have been applied to the selected data, a claim scenario is generated. The claim scenario is then applied to the policy coverage parameters of the current policy and coverage parameter disparities are determined. 
     Once coverage disparities have been identified, policy coverage parameters are then modified to offset any coverage parameter disparities. In various embodiments, policy coverage parameters are modified through the use of a user gesture within a graphical user interface (GUI). In one embodiment, coverage parameters are modified through user manipulation of a control of a graphical element representing the coverage parameter. As coverage parameters are modified, corresponding adjustments to the premium of the current policy are made and displayed within the UI. In one embodiment, a new policy is generated using the modified coverage parameters of the current policy and then fulfilled, electronically or physically. 
    
    
     
       BRIEF DESCRIPTION OF THE DRAWINGS 
       Selected embodiments of the disclosure may be understood, and its numerous objects and features obtained when the following detailed description is considered in conjunction with the following drawings, in which: 
         FIG. 1  is a simplified block diagram of an exemplary client information processing system (IPS) in which embodiments of the disclosure may be implemented; 
         FIG. 2  is a simplified block diagram of an insurance coverage modeler as implemented for the modeling of insurance coverage; 
         FIGS. 3   a - e  are a generalized flowchart of an insurance coverage modeler as implemented for the modeling of insurance coverage; 
         FIG. 4  is a simplified illustration of a claim scenario generated within a user interface window from representative peer claim data; 
         FIG. 5  is a simplified illustration of a claim scenario generated within a user interface window from historical claim; 
         FIG. 6  is a simplified illustration of an insurance coverage modeler as implemented within a user interface window; and 
         FIGS. 7   a - c  are a simplified illustration of an insurance coverage modeler as implemented to graphically display insurance coverage within a user interface window. 
     
    
    
     DETAILED DESCRIPTION OF THE INVENTION 
     A system, method, and computer-usable medium are disclosed for modeling insurance coverage. As will be appreciated by one skilled in the art, the disclosure may be embodied as a method, system, or computer program product. Accordingly, embodiments of may be implemented entirely in hardware, entirely in software (including firmware, resident software, micro-code, etc.), or in an embodiment combining software and hardware. These various embodiments may all generally be referred to herein as a “module” or “system.” 
     For purposes of this disclosure, an information processing system may include any instrumentality or aggregate of instrumentalities operable to compute, classify, process, transmit, receive, retrieve, originate, switch, store, display, manifest, detect, record, reproduce, handle, or utilize any form of information, intelligence, or data for business, scientific, control, or other purposes. For example, an information processing system may be a personal computer, a personal digital assistant (PDA), a wirelessly-enabled mobile telephone, a server, a network storage device, or any other suitable device and may vary in size, shape, performance, functionality, and price. The information processing system may include random access memory (RAM), one or more processing resources such as a central processing unit (CPU) or hardware or software control logic, read only memory (ROM), and/or other types of nonvolatile memory. Additional components of the information processing system may include one or more disk drives, one or more network ports for communicating with external devices, as well as various input and output (I/O) devices, such as a keyboard, a mouse, and a video display. The information processing system may also include one or more buses operable to transmit communications between the various hardware components. 
     Additionally, various embodiments may take the form of a computer program product on a computer-usable storage medium having computer-usable program code embodied in the medium. Any suitable computer usable or computer readable medium may be utilized. The computer-usable or computer-readable medium may be, for example, but not limited to, an electronic, magnetic, optical, electromagnetic, infrared, or semiconductor system, apparatus, device, or propagation medium. A non-exhaustive list of more specific examples of the computer-readable medium would include the following: an electrical connection having one or more wires, an optical fiber, a transmission media such as those supporting the Internet or an intranet, a random access memory (RAM), a read-only memory (ROM), an erasable programmable read-only memory (EPROM or Flash memory), a magnetic storage device, a portable computer diskette, a hard disk, an optical storage device, a portable compact disc read-only memory (CD-ROM), or a digital versatile disk (DVD). Note that the computer-usable or computer-readable medium could even be paper or another suitable medium upon which the program is printed, as the program can be electronically captured, via, for instance, optical scanning of the paper or other medium, then compiled, interpreted, or otherwise processed in a suitable manner and then stored in a computer memory. In the context of this document, a computer-usable or computer-readable medium may be any medium that can contain, store, communicate, propagate, or transport the program for use by or in connection with the instruction execution system, apparatus, or device. The computer-usable medium may include a propagated data signal with the computer-usable program code embodied therein, either in baseband or as part of a carrier wave. The computer usable program code may be transmitted using any appropriate medium, including but not limited to the Internet, wireline, optical fiber cable, wireless, radio frequency (RF), etc. 
     Computer program code for carrying out operations in various embodiments may be written in an object oriented programming language such as Java, Smalltalk, C++ or the like. However, the computer program code for carrying out operations in various embodiments may also be written in conventional procedural programming languages, such as the “C” programming language or similar programming languages. The program code may execute entirely on the user&#39;s computer, partly on the user&#39;s computer, as a stand-alone software package, partly on the user&#39;s computer and partly on a remote computer or entirely on the remote computer or server. In the latter scenario, the remote computer may be connected to the user&#39;s computer through a local area network (LAN), a wide area network (WAN), a wireless local area network (WLAN), a wireless wide area network (WWAN), a or personal area network (PAN). In addition, the connection may be made to an external computer (for example, through the Internet using an Internet Service Provider) using any combination of telecommunication technologies and protocols operable to establish a network connection for the exchange of information. 
     Embodiments of the disclosure are described below with reference to flowchart illustrations and/or block diagrams of methods, apparatus (systems) and computer program products. It will be understood that each block of the flowchart illustrations and/or block diagrams, and combinations of blocks in the flowchart illustrations and/or block diagrams, can be implemented by computer program instructions. These computer program instructions may be provided to a processor of a general purpose computer, special purpose computer, or other programmable data processing apparatus to produce a machine, such that the instructions, which execute via the processor of the computer or other programmable data processing apparatus, create means for implementing the functions/acts specified in the flowchart and/or block diagram block or blocks. 
     These computer program instructions may also be stored in a computer-readable memory that can direct a computer, information processing system, or other programmable data processing apparatus, to function in a particular manner such that the instructions stored in the computer-readable memory produce an article of manufacture including instruction means which implement the function/act specified in the flowchart and/or block diagram block or blocks. The computer program instructions may also be loaded onto a computer or other programmable data processing apparatus to cause a series of operational steps to be performed on the computer or other programmable apparatus to produce a computer implemented process such that the instructions which execute on the computer or other programmable apparatus provide steps for implementing the functions/acts specified in the flowchart and/or block diagram block or blocks. 
       FIG. 1  is a generalized block diagram of an exemplary client information processing system (IPS)  100  in which various embodiments may be utilized. Client IPS  100  includes a processor unit  102  that is coupled to one or more buses  134 . A display controller  112 , which controls a display  114 , is also coupled to one or more buses  134 , along with peripheral controller  108 , which controls one or more peripheral devices  110 . An input/output (I/O) controller  116  provides communication with various I/O devices, including a keyboard  118 , a mouse  120 , a floppy disk drive  122 , a Compact Disk-Read Only Memory (CD-ROM) drive  124 , a flash drive memory  126 , and one or more I/O ports  128 . The format of the ports connected to the I/O controller  116  may be any known to those skilled in the art of computer architecture, including but not limited to Universal Serial Bus (USB) ports. 
     Client IPS  100  is able to communicate with a service provider server  164  via a network  162  using a communications controller  130 , which is coupled to one or more buses  134 . Network  162  may be the public switched telephone network (PSTN), an external network such as the public Internet, an internal network such as an Ethernet-based local area network (LAN), a Virtual Private Network (VPN) such as a corporate intranet, or any combination of telecommunication technologies and protocols operable to establish a network connection for the exchange of information. Using network  162 , client IPS  100  is able to access service provider server  164 . 
     A storage controller  104  is also coupled to one or more buses  134 . Storage controller  104  interfaces with storage disk or drive  106 , which may comprise a magnetic storage device such as a hard disk or tape drive. In various embodiments, storage disk or drive  106  populates a system memory  136 , which is also coupled to one or more buses  134 . Data that populates system memory  136  includes the client IPS  100  operating system (OS)  138  and software programs  144 . 
     OS  138  includes a shell  140  for providing transparent user access to resources such as software programs  144 . Generally, shell  140  is a program that provides an interpreter and an interface between the user and the operating system. More specifically, shell  140  executes commands that are entered into a command line user interface or from a file. Thus, shell  140  (as it is called in UNIX®), also called a command processor in Windows®, is generally the highest level of the operating system software hierarchy and serves as a command interpreter. The shell provides a system prompt, interprets commands entered by keyboard, mouse, or other user input media, and sends the interpreted command(s) to the appropriate lower levels of the operating system (e.g., a kernel  142 ) for processing. While shell  140  generally is a text-based, line-oriented user interface, various embodiments may also support other user interface modes, such as graphical, voice, gestural, etc. As depicted, OS  138  also includes kernel  142 , which includes lower levels of functionality for OS  138 , including services used by other parts of OS  138  and software programs  144 , including memory management, process and task management, disk management, and mouse and keyboard management. 
     Software programs  144  may include a communications stack  146 , browser  156 , email client  158 , and other programs  160 . The communications stack  146  is operable to implement any communication protocol enabling various embodiments of the disclosure. Browser  156  includes program modules and instructions enabling a World Wide Web (WWW) client (i.e., IPS  100 ) to send and receive network messages to the Internet using HyperText Transfer Protocol (HTTP) messaging, thus enabling communication with service provider server  164 . Software programs  144  also include an insurance coverage modeler  148 . The insurance coverage modeler  148  includes code for implementing the processes described in  FIGS. 2-7  described hereinbelow. The insurance coverage modeler  148  further comprises claim scenario generator  150 . In one embodiment, client IPS  100  is able to download insurance coverage modeler  148 , and claim scenario generator  150  from a service provider server  164 . 
     The hardware elements depicted in client IPS  100  are not intended to be exhaustive, but rather are representative to highlight components used by the disclosure. For instance, client IPS  100  may include alternate memory storage devices such as magnetic cassettes, Digital Versatile Disks (DVDs), Bernoulli cartridges, and the like. These and other variations are intended to be within the spirit and scope of the disclosure. 
       FIG. 2  is a simplified block diagram of an insurance coverage modeler as implemented in accordance with an embodiment of the disclosure. In various embodiments, an insurance coverage modeler  148  is implemented on policy management system  208  to model the coverage of an insurance policy against a claim scenario. The insurance coverage modeler  148  comprises a claim scenario generator  150 . The policy management system  208  further comprises policy, coverage parameter, claim and pricing data  214 , and policy fulfillment system  216 . 
     Policy coverage modeling operations are begun by displaying coverage parameters and the premium of an insurance policy (“the current policy”) within the insurance coverage modeler user interface (UI)  206  of a computing device  204  of policy holder  202 . As used in various embodiments, the current policy is defined as a policy currently issued to a policy holder or a policy that is not currently issued, but being considered for issuance by a policy provider. In various embodiments, a policy holder computing device  204  may comprise a personal computer, a laptop computer, or a tablet computer. The policy holder computing device  204  may also comprise a personal digital assistant (PDA), a mobile telephone, or any other suitable device operable to display the insurance coverage user interface (UI)  206  and establish a connection with network  162 . 
     In these and other embodiments, coverage parameters for the current policy are retrieved from a database  214 , comprising policy, coverage parameter, claim and pricing data, and displayed within the insurance coverage user interface (UI)  206 . As used herein, coverage parameters are coverage variables that define an insurer&#39;s obligation to pay for damages that are caused by a predetermined peril or group of perils. Once selected, the claim scenario parameters are then used to select relevant claim data from database  214  for the generation of a claim scenario. In one embodiment, the claim data is historical and is collected from actual events that have been documented. In another embodiment, the claim data is representative of peer claims. Once the claim parameters have been applied to the selected data, a claim scenario is generated by the claim scenario generator  150  of the insurance coverage modeler  148  as described in greater detail herein. The generated claim scenario is then displayed within the insurance coverage modeler UI  206 . 
     The generated claim scenario is then applied to the policy coverage parameters of the current policy and coverage parameter disparities are determined. As used herein, a coverage parameter disparity is the difference between an element of a claim scenario and a corresponding coverage parameter of a policy. Once coverage parameter disparities have been determined, they are then displayed within the insurance coverage modeler UI  206 . Afterwards, the policy coverage parameters can be modified within the insurance coverage modeler UI  206  and a new claim scenario generated. In various embodiments, policy coverage parameters are modified through the use of a user gesture within the insurance coverage modeler UI  206 . In one embodiment, coverage parameters are modified through user manipulation of a control of a graphical element representing the coverage parameter within the insurance coverage modeler UI  206 . As coverage parameters are modified, corresponding adjustments to the premium of the current policy are made and displayed within the UI. 
     In one embodiment, a new policy is generated using the modified coverage parameters of the current policy and then fulfilled, electronically or physically, by the policy fulfillment system  216  of the policy management system  208 . In an embodiment, the generated policy  218  is generated in an electronic file format (e.g., portable document format (.pdf), Microsoft Word, etc.) and electronically delivered  224  to the policy holder&#39;s computing device  204  over a connection to the network  162 . Upon delivery, the generated policy  218  becomes a fulfilled policy  226 . In another embodiment, the generated policy  218  is generated in a printed format and physically delivered  222  to the policy holder  202 . As before, the generated policy  218  becomes a fulfilled policy  226  upon delivery. 
       FIGS. 3   a - e  are a generalized flowchart of an insurance coverage modeler as implemented in accordance with an embodiment of the disclosure for fulfilling modeled insurance coverage. In various embodiments, an insurance coverage modeler is implemented to model the coverage of an insurance policy against a claim scenario. In this embodiment, policy coverage modeling operations are begun in step  301 , followed by the selection of an insurance policy (“the current policy”), which is then displayed with its coverage parameters and premium within a user interface (UI) in step  302 . As used herein, coverage parameters are coverage variables that define an insurer&#39;s obligation to pay for damages that are caused by a predetermined peril or group of perils. The obligation typically has corresponding financial limits and deductibles that circumscribe the insurer&#39;s responsibility for losses against that coverage. In various embodiments, coverage parameters may include the total coverage available for purchase to cover a predetermined peril (e.g., bodily harm, property damage, etc.). Coverage parameters may also include current coverage of an insurance policy, minimum and maximum limits of the coverage, deductibles, elective coverage options, and contractual terms associated with insurance coverages. As used in various embodiments, the current policy is defined as a policy currently issued to a policy holder or a policy that is not currently issued, but being considered for issuance by a policy provider. 
     In step  303 , a plurality of claim scenario parameters are displayed within the UI for selection by the user. As used herein, claim scenario parameters are variables that define one or more claims against an insurance policy. In one embodiment, claim scenario parameters include a policy type (e.g., automobile, household, commercial, etc.), an accident type (multi-vehicle, weather, etc.), and a severity level (e.g., minor, moderate, severe, etc.). In other embodiments, a severity level claim scenario parameter is combined with other claim scenario parameters to further define the claim scenario. Examples of other claim scenario parameters for an automobile accident may include moderate damage to the insured vehicle and other vehicles, minor injuries to the insured, severe injuries to others, and moderate collateral damage. It will be appreciated that many such coverage parameters may be used to define a claim scenario and the foregoing examples are not intended to be limiting and are provided for illustrative purposes only. 
     Once selected, the claim scenario parameters are then used in step  304  to select relevant claim data for the generation of a claim scenario. In one embodiment, the claim data is historical and is collected from actual events that have been documented. In another embodiment, the claim data is representative peer data corresponding to a peer group having financial parameters similar to the policy holder. As another example, claim data may be based on actuarial models that predict anticipated costs to settle individual elements of a claim. For instance, the representative peer claim data may incorporate forecasted injury settlements for drivers combined with average repair costs for certain classes of automobiles. 
     Accordingly, a decision is made in step  305  whether to use historical or representative peer claim data for the generation of the claim scenario. If it is decided in step  305  to use historical claim data, then relevant historical claim data is identified in step  306 . As an example of claim data relevancy, if the user&#39;s policy is for automobile coverage, then household or commercial property claim data is not considered relevant. Similarly, if the claim scenario parameters are limited to moderate vehicular damage, then minor or severe vehicular claim data is not considered relevant. Conversely, claim data for moderate injuries to the insured, but minor or severe injuries to others may be considered relevant. 
     In one embodiment, historical claim data is considered relevant only if the claim data is associated with a single claim and matches all of the selected claim scenario parameters. In another embodiment, individual elements of historical claim data are considered relevant even if they are associated with different claims. It will be apparent to those of skill in the art that a composite set of claim data elements derived from a plurality of claims provides additional flexibility in the generation of claim scenarios matching selected claim scenario parameters. However, if it is decided in step  305  that representative peer claim data is to be used for the generation of a claim scenario, then relevant representative peer claim data is identified in step  307 . In one embodiment, representative peer claim data may be an average of historical claim data elements derived from a plurality of historical claims. In another embodiment, historical claim data elements may be used in conjunction with actuarial approaches familiar to those of skill in the art to predict the cost to settle individual elements of a claim scenario. These predicted costs can then be used as representative peer claim data in the generation of a claim scenario. 
     Once the relevant claim data for the claim scenario has been identified, a decision is made in step  308  whether the claim data to be used in the claim scenario is to be selected automatically. If it is not, then the relevant claim data is provided in step  310  for manual selection within the UI. Once provided, the user manually selects the claim data in step  311  that they wish to be used in the generation of the claim scenario. As an example, the user may desire to select relevant claim data that is associated with a geographic region, such as the Northeast. As another example, the user may elect to choose claim data involving minor damage to multiple vehicles as opposed to extensive damage to a single, expensive vehicle. It will be appreciated that many such choices are possible and the foregoing are provided for illustrative purposes only and are in no way intended to be limiting. However, if it is decided in step  308  that the claim data is to be automatically selected, then selections are automatically made in step  309  by the insurance coverage modeler from the identified relevant claim data. As an example, in one embodiment, an algorithm is applied to relevant historical data to statistically determine the optimum selection of claim data. 
     Once the relevant claim data has been selected, whether automatically by the insurance coverage modeler or manually by the user, a test is conducted in step  312  to determine whether sufficient claim data has been selected to generate a claim scenario. If so, then a decision is made in step  337  whether to continue insurance policy modeling operations. If not, then insurance policy coverage modeling operations are ended in step  361 . Otherwise, a decision is made in step  338  whether to change the method of claim data selection. If it is decided in step  338  that the method of claim data selection is to be changed, then the process continues, proceeding to step  308 . Otherwise, a decision is made in step  339  whether to change the type of claim data for generation of the claim scenario. If so, then the process continues, proceeding to step  305 . However, if it is decided in step  339  to not change the type of claim data, then the claim scenario parameters are modified in step  340  and the process is continued, proceeding to step  303 . 
     If it is decided in step  312  that sufficient claim data is available to generate a claim scenario, then the claim scenario parameters are applied to the selected claim data in step  313 . Once the claim parameters have been applied to the selected data, a claim scenario is generated in step  314  by the claim scenario generator module of the insurance coverage modeler described in greater detail herein. The generated claim scenario is then displayed within the UI in step  315 . In one embodiment, a summary of the claim scenario is displayed within the UI. In yet another embodiment, both the summary and claim details of the generated claim scenario are displayed within the UI. 
     The generated claim scenario is then applied to the policy coverage parameters of the current policy in step  316  and coverage parameter disparities are decided in step  317 . As used herein, a coverage parameter disparity is the difference between an element of a claim scenario and a corresponding coverage parameter of a policy. 
     Once coverage parameter disparities have been determined, they are then displayed within the UI in step  318 . A decision is then made in step  319  whether to modify policy coverage parameters for the current policy. For example, the chosen coverage parameters may have been set too low, with the result that negative coverage parameter disparities were determined and displayed within the UI. If it is decided in step  319  that the policy coverage parameters are to be modified, then modifications to the policy coverage parameters are made within the UI in step  321 . Once it is decided in step  334  that policy coverage modifications are complete, then a decision is made in step  335  whether the modifications to the policy coverage parameters are within predetermined limits. If not, then the process continues, proceeding to step  321 . Otherwise, processing proceeds to step  336 , where a decision is made regarding whether modifications have been made to the original coverage parameters of the current policy. If it is decided that no modifications have been made to the original coverage parameters of the current policy, then the process continues, proceeding to step  337 . Otherwise, a new premium is calculated in step  341  using the modified policy coverage parameters and predetermined pricing data. Once calculated, the original premium is displayed within the UI in step  342  along with the new premium calculated in step  341 . 
     A decision is then made in step  353  whether to fulfill the current policy with its modified coverage parameters and modified premium. If not, then the process continues, proceeding to step  337 , where a decision is made whether to continue policy coverage modeling operations. Otherwise, a new policy is generated in step  354  that comprises predetermined policy data combined with the modified coverage parameters and modified premium of the current policy. Once generated, the new policy, along with its corresponding policy data, coverage parameters and premium, is displayed within the UI in step  355 . 
     A decision is then made in step  356  about whether to modify the new policy prior to its fulfillment. If so, then the process continues, proceeding to step  334 . Otherwise, a decision is made in step  357  regarding whether the new policy will be fulfilled electronically or physically. If it is decided in step  357  to fulfill the new policy electronically, then it is fulfilled electronically in step  358 . However, if it is decided in step  357  to fulfill the new policy physically, then it is fulfilled physically in step  359 . In one embodiment, the new policy is generated in a printed format and physically delivered, such as through a postal or delivery service, to the user. Regardless of whether the new policy was fulfilled and delivered electronically or physically, a decision is made in step  360  whether to model coverage for another policy. If so, then the process continues, proceeding with step  302 , where the user&#39;s current policy is displayed within the UI. Otherwise, insurance policy coverage modeling operations are ended in step  361 . 
       FIG. 4  is a simplified illustration of a claim scenario generated within a user interface window from representative peer claim data in accordance with an embodiment of the disclosure. In this embodiment, a claim scenario generator  150  is implemented within user interface (UI) window  404  and comprises claim scenario parameters  406  and  416 . As used herein, claim scenario parameters are variables that define one or more claims against an insurance policy. In one embodiment, claim scenario parameters  406  include graphical elements such as drop-down menus  408 . As an example, the selected Policy Type claim scenario parameter is “automobile”  410 . Similarly, the selected Accident Type and Accident Severity claim scenario parameters are respectively “multi-vehicle”  412  and “moderate”  414 . In a similar fashion, claim scenario parameters  416  include graphical elements such as check boxes  418 , which are selected through a user gesture, such as a mouse click with cursor  422 . As an example, the selected Damage To Insured Vehicle claim scenario parameter is “moderate,” while the selected Injuries To Others claim scenario parameter is “severe.” 
     Once selected, the claim scenario parameters are then used to select relevant claim data for the generation of a claim scenario. In various embodiments, the claim data may be either representative peer claim data or historical claim data. For example, claim data may be an average of historical claim data that matches the claim scenario defined by the selected claim scenario parameters. As another example, claim data may be based on actuarial models that predict anticipated costs to settle individual elements of a claim. 
     In one embodiment, the type of claim data is selected through a user gesture, such as placing cursor  422  over the Generate Scenario command button  420 , followed by a right-mouse-click to open claim data type menu  424 . In this embodiment, claim data is selected within the claim data type menu  424  through a user gesture such as a left-mouse-click with cursor  422 . The Generate Scenario command button  420  is then selected, likewise with a user gesture such as a left-mouse-click with cursor  422 , to generate representative peer claim scenarios ‘# 1 ’  426 , ‘# 2 ’  432 , and ‘# 3 ’  440 . In this same embodiment, representative peer claim scenario ‘# 1 ’  426  comprises a summary section  428  and a detail section  430 . Representative peer claim scenarios ‘# 1 ’  426  and ‘# 2 ’  432  similarly comprise summary sections  434 ,  436  and detail sections  436 ,  444  respectively. Once representative peer claim scenarios ‘# 1 ’  426 , ‘# 2 ’  432 , and ‘# 3 ’  440  are displayed, the user selects the representative peer claim scenario (e.g., ‘# 2 ’  432 ) they wish to have applied to the coverage parameters of the current policy. In one embodiment, the representative peer claim scenario is selected through a user gesture, such as by placing cursor  422  over checkbox  438 , followed by a left-mouse-click. Once the representative peer claim scenario has been selected, the Model Coverage command button  446  is activated with a user gesture, such as by using cursor  422  followed by a left-mouse click. Once activated, the selected representative peer claim scenario is applied to the coverage parameters of the current policy as described in greater detail herein. 
       FIG. 5  is a simplified illustration of a claim scenario generated within a user interface window from historical claim data in accordance with an embodiment of the disclosure. In this embodiment, a claim scenario generator  150  is implemented within user interface (UI) window  404  and comprises claim scenario parameters  406  and  416  as described in greater detail herein. In one embodiment, claim scenario parameters  406  include graphical elements such as drop-down menus  408 . As an example, the selected Policy Type claim scenario parameter is “automobile”  410 . Similarly, the selected claim scenario parameters for Accident Type and Accident Severity are respectively “multi-vehicle”  412  and “moderate”  414 . In a similar fashion, claim scenario parameters  416  include graphical elements such as check boxes  418 , which are selected through a user gesture, such as a mouse click with cursor  422 . As an example, the claim scenario parameter for Damage To Insured Vehicle has been selected to be “moderate,” while the claim scenario parameter for Injuries To Others has been selected to be “severe.” 
     Once selected, the claim scenario parameters are then used to select relevant claim data for the generation of a claim scenario. In this embodiment, the claim data is historical and is collected from actual events that have been documented. In one embodiment, the type of claim data is selected through a user gesture, such as placing cursor  422  over the Generate Scenario command button  420 , followed by a right-mouse-click to open claim data type menu  424 . In this embodiment, “historical” claim data is selected within the claim data type menu  424  through a user gesture such as a left-mouse-click with cursor  422 . The Generate Scenario command button  420  is then selected, likewise with a user gesture such as a left-mouse-click with cursor  422  to generate historical scenarios ‘# 1 ’  526 , ‘# 2 ’  532 , and ‘# 3 ’  540 . In this same embodiment, representative peer claim scenario ‘# 1 ’  526  comprises a summary section  528  and a detail section  530 . Representative peer claim scenarios ‘# 1 ’  526  and ‘# 2 ’  532  similarly comprise summary sections  534 ,  536  and detail sections  536 ,  544  respectively. Once representative peer claim scenarios ‘# 1 ’  526 , ‘# 2 ’  532 , and ‘# 3 ’  540  are displayed, the user selects the representative peer claim scenario (e.g., ‘# 2 ’  532 ) they wish to have applied to the coverage parameters of the current policy. In one embodiment, the representative peer claim scenario is selected through a user gesture, such as by placing cursor  422  over checkbox  538 , followed by a left-mouse-click. Once the representative peer claim scenario has been selected, the Model Coverage command button  446  is activated with a user gesture, such as by using cursor  422  followed by a left-mouse click. Once activated, the selected representative peer claim scenario is applied to the coverage parameters of the current policy as described in greater detail herein. 
       FIG. 6  is a simplified illustration of an insurance coverage modeler as implemented within a user interface window in accordance with an embodiment of the disclosure. In this embodiment, insurance coverage modeler  148  is implemented within user interface (UI) window  404  and comprises a Claim Scenario Summary window  606  and a Policy Coverage Summary window  678 . The insurance coverage modeler  150  likewise comprises a plurality of coverage parameter descriptions  608 , corresponding to their respective coverage parameters  610  for the current policy. 
     As illustrated in  FIG. 6 , the Bodily Injury coverage parameters  612  are indicated to be $50,000 per person and $100,000 per accident. Similarly, the Property Damage coverage parameters  614  are indicated to be a total of $50,000 per accident. In a like fashion, the Uninsured Motorist—Injury coverage parameters  616  are indicated to be $50,000 per person and $100,000 per accident, while the Uninsured Motorist—Damage coverage parameters  618  are indicated to be $20,000 per person and $40,000 per accident. The Personal Injury Protection coverage parameters  620  are similarly indicated to be a total of $2,500 per accident. However, the Comprehensive and Collision coverage parameters  622  and  624  are indicated to be limited, not to their respective amounts of coverage, but to policy holder deductible costs of $500 each. The Rental Reimbursement coverage parameters for 626 are also similarly indicated to be limited to $20 per day and a maximum coverage of $600, while the Towing And Labor coverage parameters  628  are indicated to be limited to $500. 
     Claim Scenario # 2 , generated from historical claim data as illustrated in greater detail in  FIG. 5 , is summarized in the Claim Scenario Summary window  606 . In one embodiment, Claim Scenario # 2  is applied to coverage parameters  610  in response to a user gesture, such as placing cursor  648  over the Apply Scenario command button  630 , followed by a left-mouse-click. As a result, line items  670  for coverage parameter disparities  664  and current premiums  666 , corresponding to coverage parameters  612  and  614  respectively, are displayed along with total coverage parameter disparities  672  and total current premium  674 . Subsequently, the contents of Policy Coverage Summary window  678  are displayed, which provide a summary explanation of coverage parameter disparities for coverage parameters  612  and  614 . 
     As used herein, a coverage parameter disparity is the difference between an element of a claim scenario and a corresponding coverage parameter of a policy. As an example, the current policy illustrated in  FIG. 6  has a coverage parameter  612  of $50,000 per person for bodily injury incurred in an automobile accident. However, the policy also has a coverage parameter  612  of $100,000 total for bodily injuries sustained within a single accident. If a person involved in an automobile accident incurs $115,000 in bodily injuries, then there is a $65,000 coverage parameter disparity. This is due to the fact that while the insured is covered for bodily injuries totaling $100,000 in the accident, there is only $50,000 of coverage for each injured individual, hence the $65,000 deficit, which equates to the afore-referenced coverage parameter disparity. As another example, the current policy has a property damage coverage parameter  614  of $50,000 per accident. Total property damages for Scenario # 2  are $67,800, which represents a coverage parameter disparity of $17,800. 
     In various embodiments, coverage parameter disparities are addressed by modifying coverage parameters  610  and reapplying a claim scenario, such as Claim Scenario # 2  described in greater detail herein. In various embodiments, policy coverage parameters are modified through the use of a user gesture within a graphical user interface (GUI). In one embodiment, a mouse cursor  648  is used to select a coverage parameter  610  from a dropdown menu. As an example, the drop-down menu for the Property Damage coverage parameter  614  may have selections that include “$50,000”, “100,000”, “$250,000”, “500,000”, and “$1,000,000”, which are selected according to the amount of coverage the user desires. In another embodiment, a mouse cursor is used to select a check box widget within the GUI corresponding to a coverage parameter selection. As an example, a Property Damage coverage parameter may have coverage selections that include “$50,000”, “100,000”, “$250,000”, “500,000”, and “$1,000,000”, each of which has a corresponding check box widget. 
     In yet another embodiment, coverage parameters are displayed as graphical elements of a coverage summary  632  within the UI window  404 . Subsequent to being displayed, the coverage parameters are then modified through user manipulation of a control of a graphical element representing the coverage parameter. As additionally illustrated in  FIG. 6 , the UI window  404  comprises a visual attribute legend  660 , which is implemented in various embodiments to differentiate the graphical representation of different coverage parameters from each other. As illustrated in  FIG. 6 , coverage summary  632  comprises indicator bar  636 , which graphically indicates via pricing scale  634  the total amount of coverage available for the Bodily Injury coverage parameter  612 . Similarly, indicator bar  638  graphically represents the original $50,000 per-person, and indicator bar  642  the original $100,000 total per-accident, coverage parameter  612  for bodily injury. Graphical element  640  serves to graphically demarcate the difference between the per-person coverage parameter of $50,000 from the $100,000 total per-accident coverage parameter. Indicator bar  644  graphically represents a coverage parameter disparity resulting from applying claim scenario # 2  against the bodily injury coverage parameter  612 . 
     Indicator bar  648 , having a slider  646 , represents a modified value of the Bodily Injury coverage parameter  612 . The user selects the slider  646  of the modified coverage indicator bar  648 , such as by using a mouse click-and-hold operation, and then drags the slider  646  to modify the value of the original Bodily Injury coverage parameter  612 . As the user drags the slider  646 , the length of the modified coverage indicator bar  648  changes and a corresponding change is reflected in the value of the Bodily Injury coverage parameter  612 . 
     As similarly illustrated in  FIG. 6 , indicator bar  650  graphically indicates via pricing scale  634  the total amount of coverage available for Property Damage coverage parameter  612 . In a similar fashion, indicator bar  652  graphically represents the original $50,000 total per-accident, coverage parameter  614  for property damage. Indicator bar  654  graphically represents a coverage parameter disparity resulting from applying claim scenario # 2  against the Bodily Injury coverage parameter  614 . 
     Indicator bar  656 , having a slider  658 , represents a modified value of the Property Damage coverage parameter  614 . The user selects the slider  658  of the modified coverage indicator bar  656 , using a mouse click-and-drag operation, and then drags the slider  658  to modify the value of the original Property Damage coverage parameter  614 . As the user drags the slider  656 , the length of the modified coverage indicator bar  656  changes, and a corresponding change is reflected in the value of the Property Damage coverage parameter  614 . 
     If modifications have been made to the original coverage parameters  610  of the current policy, then adjusted premiums  668  for the modified coverage parameters  610  are calculated. Once calculated, the current premiums  666  and adjusted premiums  668 , comprising line item  670  premiums for each of the coverage parameters, are displayed within the UI window  404  along with total current premium  674  and the total adjusted premium  676 . 
     In various embodiments, a new policy is generated from the modified coverage parameters and their associated premiums. In one embodiment, such a new policy is generated as a result of a user gesture, such as selecting the Create New Policy command button  686  with cursor  648 , followed by a left-mouse click. In this embodiment, the new policy can be fulfilled either electronically or physically. If a decision is made to fulfill the new policy electronically, then a user gesture, such as placing cursor  648  over the Create New Policy command button  686 , followed by a right-mouse click, will result in the display of a Policy Fulfillment menu  688 . 
     Upon selection of the “electronic” menu option, the new policy is generated in an electronic file format (e.g., portable document format (.pdf), Microsoft Word, etc.) and delivered to the user over a connection to a network, such as the public Internet. In another embodiment, the new policy is generated in an electronic file format operable to be delivered as a FAX message over a network. In this embodiment, the electronic version of the new policy is received in a physical form, such as a printed document produced by a FAX machine, by the user. However, if the new policy is to be fulfilled physically, then the “physical” menu option is selected and the new policy is generated in a printed format and physically delivered, such as through a postal or delivery service, to the user. 
       FIGS. 7   a - c  are a simplified illustration of an insurance coverage modeler as implemented to graphically display insurance coverage within a user interface window. As described in greater detail herein, coverage parameters are displayed in various embodiments as graphical elements within a user interface (UI) window. In certain of these embodiments, coverage parameters are modified through user manipulation of a control of the graphical element representing a coverage parameter. 
     As illustrated in  FIGS. 7   a - c , via its proximate location to pricing scale  708 , indicator bar  710  graphically indicates the total amount of coverage available for Bodily Injury coverage parameters  702 ,  704 , and  706 . Similarly, indicator bar  712  graphically represents an original $50,000 per-person, and indicator bar  716  an original $100,000 total per-accident, bodily injury coverage parameters  702  for a policy. Graphical element  714  serves to graphically demarcate the difference between the per-person coverage parameter of $50,000 from the $100,000 total per-accident coverage parameter. Indicator bar  718  graphically represents a current coverage parameter disparity resulting from applying a claim scenario, such as Claim Scenario # 2  described and illustrated in greater detail in  FIG. 5 , against the bodily injury coverage parameter  612 . 
     As used herein, a coverage parameter disparity is the difference between an element of a claim scenario and a corresponding coverage parameter of a policy. Using the original coverage parameters  702  as an example, the coverage parameters are $50,000 per-person, $100,000 total, per-accident for bodily injuries incurred in an automobile accident. If a person involved in an automobile accident incurs $115,000 in bodily injuries, then there is a $65,000 coverage parameter disparity. This is due to the fact that while the insured is covered for bodily injuries totaling $100,000 in the accident, there is only $50,000 of coverage for each injured individual, hence the $65,000 deficit, which equates to the afore-referenced coverage parameter disparity. Accordingly, the amount of the $65,000 current coverage disparity is displayed in the Current Coverage Disparity window  728 . Concurrently, the amount of the current premium for Bodily Injury coverage parameters  702 , which is $83.35, is similarly displayed in the Current Premium window  734 . In various embodiments, coverage parameter disparities are addressed by modifying original coverage parameters  702  and reapplying a claim scenario, such as Claim Scenario # 2  described in greater detail herein. 
     Referring now to  FIG. 7   b , indicator bar  722 , having a slider  724 , graphically represents modified bodily injury coverage parameters  704 . In one embodiment, the user selects the slider  724  of indicator bar  722 , such as by using a mouse click-and-hold operation with cursor  726 , and then drags the slider  724  to modify the value of the original Bodily Injury coverage parameters  702 . As the user drags the slider  724 , the length of the modified coverage indicator bar  722  changes, and a corresponding change is reflected in the value of the Bodily Injury coverage parameter  704 . As a result, the original Bodily Injury coverage parameters  702  are modified to a value of $125,000 per-person and $250,000 total per-accident, which are then displayed as modified Bodily Injury coverage parameters  704 . Concurrently, a positive adjusted coverage parameter disparity of $10,000 is displayed in the Disparity After Adjustment window  732 . In addition, an adjusted premium cost of $166.70 for the modified coverage parameters is displayed in the Adjusted Premium window  738 . 
     Referring now to  FIG. 7   c , the user drags the slider  724  to modify the value of the original Bodily Injury coverage parameters  702  as described and illustrated in  FIG. 7   c . As the user drags the slider  724 , the length of the modified coverage indicator bar  722  changes, and a corresponding change is reflected in the value of the Bodily Injury coverage parameter  704 . As a result, the original Bodily Injury coverage parameters  702  are modified to a value of $250,000 per-person and $500,000 total per-accident, which are then displayed as modified Bodily Injury coverage parameters  706 . Concurrently, a positive adjusted coverage parameter disparity of $135,000 is displayed in the Disparity After Adjustment window  732 . In addition, an adjusted premium cost of $333.40 for the modified coverage parameters is displayed in the Adjusted Premium window  738 . Accordingly, the positive adjusted coverage parameter disparity of $135,000 displayed in the Disparity After Adjustment window  732  may be considered excessive by a user. Similarly, the adjusted premium cost of $333.40 for the modified coverage parameters displayed in the Adjusted Premium window  738  may likewise be considered to be excessive. It will be apparent to those of skill in the art that the user can reach their own conclusion by adjusting the slider  724 , which creates a corresponding change in the Disparity After Adjustment window  732  and the Adjusted Premium window  738 . 
     The flowchart and block diagrams in the figures illustrate the architecture, functionality, and operation of possible implementations of systems, methods and computer program products according to various embodiments of the disclosure. Accordingly, each block in the flowchart or block diagrams may represent a module, segment, or portion of code, which comprises one or more executable instructions for implementing the specified logical function(s). In certain alternative implementations, the functions performed in a particular block may occur in an order that is different than what is noted in the figures. For example, two blocks shown in succession may, in fact, be executed substantially concurrently, or the blocks may sometimes be executed in the reverse order, depending upon the functionality involved. It will also be noted that each block of the block diagrams and/or flowchart illustration, and combinations of blocks in the block diagrams and/or flowchart illustration, can be implemented by special purpose hardware-based systems that perform the specified functions or acts, or combinations of special purpose hardware and computer instructions. 
     The terminology used herein is for the purpose of describing particular embodiments only and is not intended to be limiting of the disclosure. As used herein, the singular forms “a,” “an” and “the” are intended to include the plural forms as well, unless the context clearly indicates otherwise. It will be further understood that the terms “comprises” and/or “comprising,” when used in this specification, specify the presence of stated features, integers, steps, operations, elements, and/or components, but do not preclude the presence or addition of one or more other features, integers, steps, operations, elements, components, and/or groups thereof. The term “embodiment” can be used to describe any aspect, feature, process or step, any combination thereof, and/or any portion thereof, of the disclosure and should not be interpreted as limiting the scope of the application or claims. 
     While the disclosure has been described by reference to particular embodiments of the invention, such references do not imply a limitation on the disclosure no such limitation is to be inferred. As such, the disclosure includes any and all embodiments having equivalent elements, modifications, omissions, combinations (e.g., of aspects across various embodiments), adaptations, alterations, and equivalents in form and function. As will be further appreciated by those skilled in the pertinent arts, the disclosure has a number of aspects and embodiments, and various embodiments may include overlapping features. 
     For example, the above-discussed embodiments may include software modules that include script, batch, or other executable files for the performance of certain tasks. These software modules may be stored on a machine-readable or computer-readable storage medium such as a disk drive. Storage devices used for storing software modules in accordance with various embodiments of the invention may include magnetic floppy disks, hard disks, or optical discs such as CD-ROMs or DVDs. A storage device used for storing firmware or hardware modules in accordance with an embodiment of the disclosure may also include a semiconductor-based memory, which may be permanently, removably or remotely coupled to a microprocessor/memory system. Thus, the software modules may be stored within a computer system memory to configure the computer system to perform the functions of the module. Other new and various types of computer-readable storage media may be used to store the modules discussed herein. Additionally, those skilled in the art will recognize that the separation of functionality into modules is for illustrative purposes. Alternative embodiments may merge the functionality of multiple modules into a single module or may impose an alternate decomposition of functionality of modules. For example, a software module for calling sub-modules may be decomposed so that each sub-module performs its function and passes control directly to another sub-module. In addition, each of the referenced components in this embodiment may be comprised of a plurality of components, each interacting with the other in a distributed environment. Furthermore, other embodiments may expand on the referenced embodiment to extend the scale and reach of the system&#39;s implementation. 
     The description of the disclosure has been presented for purposes of illustration and description, but is not intended to be exhaustive or limited to the disclosure in the form disclosed. It will be apparent to those of skill in the art that many modifications and variations are possible without departing from the scope and spirit of the disclosure, giving full cognizance to equivalents in all respects.