Patent ID: 8688481

Claim:
A system configured to provide a dividend to an insurance customer by an insurance company in relation to an insurance policy issued by the insurance company, the system comprising: a data storage device storing a database configured to store data regarding a plurality of insurance group dividend plans, including, with respect to each plan, eligibility criteria to be a member of the plan, a group of customers assigned to the plan, and premium payments and safety data associated with each customer of the group of customers assigned to the plan; and a business logic computer processor configured to: receive eligibility data related to a customer's eligibility to be assigned to a group dividend plan; identify a dividend group plan that a customer is eligible to join based on the received data and the eligibility criteria stored in the database; assign the customer to the identified dividend group plan; assign the customer to one of a plurality of tiers within the customer's assigned group dividend plan; identify a dividend percentage of the customer based on the tier to which the customer is assigned, and calculate a dividend to provide to the customer based on the dividend plan to which the customer is assigned and the safety data stored in the database related to the customer, and wherein calculating the dividend comprises multiplying an eligible premium amount associated with the customer by the identified dividend percentage.