Patent ID: 8527302

Claim:
A method for an insurer to offer an insurance plan to participants, comprising: receiving, by a computing device of the insurer, a first plurality of bids from a first plurality of reinsurance companies, each bid including a price for a first unit of a first insurance product, the first unit of the first insurance product being associated with a first risk factor based on a participant characteristic; selecting, from the first plurality of bids, by the computing device of the insurer, a first bid from a first reinsurance company, the first bid being the lowest bid of the first plurality of bids for the first unit; receiving, by the computing device of the insurer, a second plurality of bids from a second plurality of reinsurance companies, each bid including a price for a second unit of a second insurance product, the second unit of the second insurance product being associated with a second risk factor based on the participant characteristic; selecting, from the second plurality of bids, by the computing device of the insurer, a second bid from a second reinsurance company, the second bid being the lowest bid of the second plurality of bids for the second unit; forming, by the computing device of the insurer, the insurance plan for the insurer including at least the first unit of the first insurance product and the second unit of the second insurance product; and offering, by the computing device of the insurer, the insurance plan to a first set of participants having the first risk factors at a first price equal to the first bid for the first unit and a second set of participants having the second risk factors at a second price equal to the second bid for the second unit, wherein the insurer purchases a first asset from the first reinsurance company based on an amount of the insurance plan necessary to cover the first units purchased by the first set of participants and a second asset from the second reinsurance company based on an amount of the insurance plan necessary to cover the second units purchased by the second set of participants.