Patent ID: 7778912

Claim:
A method of evaluating a plurality of insurance products, comprising: receiving, by a computer-based value appraising system, information about a proposed insured, including risk profile information of the proposed insured; receiving, by the computer-based value appraising system, information about a plurality of proposed insurance products that are tailored to the risk profile information of the proposed insured, the received information including proposed benefits to be provided and proposed price to be paid for each of the proposed insurance products, including information about the products' proposed benefits and price on both a guaranteed and illustrated basis that depend on assumptions about the future; receiving, by the computer-based value appraising system, information about a financial strength of one or more insurers providing the proposed insurance products; for each proposed insurance product, determining, by the computer-based value appraising system, an overall numeric rating reflecting the proposed insurance product's customer value proposition (CVP), wherein the determination is based on the risk profile information of the proposed insured, guaranteed and illustrated amounts of the benefits and price information of each of the proposed insurance products, and the financial strength information of the one or more insurers providing the proposed insurance products; and transmitting an appraisal of the proposed insurance products based on the determined overall numeric ratings of the proposed insurance products.