Patent ID: 8489432

Claim:
A system for providing a self-insurance account, said self-insurance account configured to provide at least one type of insurance coverage to an insured, the system comprising: one or more processors; at least one subsystem, executed on said one or more processors, configured to receive a desired liability coverage level for automobile insurance coverage; at least one subsystem, executed on said one or more processors, configured to determine a risk of loss associated with said received desired coverage level, the risk of loss determined in part based on a profile of a driver of a vehicle covered by the automobile insurance coverage; at least one subsystem, executed on said one or more processors, configured to determine a maturity level for said self-insurance account based on a function of said received desired liability coverage level, said risk of loss associated with the received desired coverage level, and an expected rate of growth of an investment vehicle; at least one subsystem, executed on said one or more processors, configured to receive deposit payments for said self-insurance account; at least one subsystem, executed on said one or more processors, configured to invest at least part of an amount in said self-insurance account in said investment vehicle; at least one subsystem, executed on said one or more processors, configured to provide an option to discontinue said payments into said account when said amount in said account reaches said maturity level; at least one subsystem, executed on said one or more processors, configured to maintain said self-insurance account to provide said at least one type of insurance; at least one subsystem, executed on said one or more processors, configured to provide a value of said self-insurance account to said insured in response to a request from said insured; and at least one subsystem, executed on said one or more processors, configured to terminate said self-insurance account in response to a termination request.