Annuity Maintenance Messaging Protocol

Abstract

A method of initiating and processing an annuity transaction request according to a messaging protocol that uses entirely electronic forms of communication is provided. Upon receiving an annuity transaction request at a distributor portal associated with an annuity distribution entity, from an individual associated with the annuity, the distributor portal collects information relevant to the annuity transaction request, such as details about the annuity contract and the particular type of transaction request, and transmits the transaction request to a carrier of the annuity. The receiving, collecting, processing and transmitting is conducted entirely by the distributor portal, which facilities the exchange of electronic communications between the different parties involved.

1 . A method comprising:
 receiving, by a computer of a contract distribution entity, a contract selection from an individual associated with the contract;   transmitting, by the computer of the contract distribution entity, a request for information about the contract to a contract issuing entity associated with the contract;   receiving, at the computer of the contract distribution entity, the requested information about the contract from the contract issuing entity;   receiving, at the computer of the contract distribution entity, a contract change request for the contract from the individual; and   transmitting, by the computer of the contract distribution entity, a contract transaction request to the contract issuing entity, wherein the contract transaction request is based on the contract change request received from the individual.   
     
     
         2 . The method of  claim 1 , further comprising:
 receiving, at the computer of the contract distribution entity, product profiles from the contract issuing entity, each product profile being associated with one or more contracts of the contract issuing entity and including one or more rules defining transaction limits for the one or more contracts; and   storing, by the computer of the contract distribution entity, the product profiles in a product profile database of the contract distribution entity.   
     
     
         3 . The method of  claim 2 , further comprising:
 receiving, at the computer of the contract distribution entity, information identifying an account of the contract distribution entity;   generating, by the computer of the contract distribution entity, a list of contracts associated with the account for selection by the individual;   responsive to receiving the contract selection from the individual, the computer of the contract distribution entity retrieving a product profile for the contract from the product profile database; and   transmitting, by the computer of the contract distribution entity, a list of available transaction types for the contract to the individual based on the retrieved product profile.   
     
     
         4 . The method of  claim 3 , further comprising:
 receiving, at the computer of the contract distribution entity, a selection of a transaction type for the contract from the individual; and   generating, by the computer of the contract distribution entity, a transaction information user interface based on the retrieved product profile and the information about the contract received from the contract issuing entity, wherein the transaction information user interface is for receiving a contract change request from the individual.   
     
     
         5 . The method of  claim 1 , further comprising:
 receiving, at the computer of the contract distribution entity, confirmation of acceptance of the contract transaction request from the contract issuing entity; and   generating, by the computer of the contract distribution entity, a status of the contract transaction request notifying the individual of the acceptance of the contract transaction request by the contract issuing entity.   
     
     
         6 . The method of  claim 1 , further comprising:
 receiving, at the computer of the contract distribution entity, a result of the contract transaction request from the contract issuing entity; and   updating, by the computer of the contract distribution entity, a status of the contract transaction request based on the received result.   
     
     
         7 . The method of  claim 6 , wherein the contract transaction request includes one or more changes to the contract and the result of the contract transaction request includes an acceptance or denial of the one or more changes. 
     
     
         8 . The method of  claim 6 , further comprising:
 receiving, at the computer of the contract distribution entity, results of a plurality of contract transaction requests from the contract issuing entity; and   updating, by the computer of the contract distribution entity, a status of each of the plurality of contract transaction requests based on the received results.   
     
     
         9 . One or more computer-readable media storing computer-readable instructions that, when executed by at least one computer, cause the at least one computer to perform a method of:
 receiving a contract selection from an individual associated with the contract;   transmitting a request for information about the contract to a contract issuing entity associated with the contract;   receiving the requested information about the contract from the contract issuing entity;   receiving a contract change request for the contract from the individual; and   transmitting a contract transaction request to the contract issuing entity, wherein the contract transaction request is based on the contract change request received from the individual.   
     
     
         10 . The one or more computer-readable media of  claim 9 , the computer-readable instructions that, when executed by at least one computer, further cause the at least one computer to perform:
 receiving product profiles from the contract issuing entity, each product profile being associated with one or more contracts of the contract issuing entity and including one or more rules defining transaction limits for the one or more contracts; and   storing the product profiles in a product profile database of the contract distribution entity.   
     
     
         11 . The one or more computer-readable media of  claim 10 , the computer-readable instructions that, when executed by at least one computer, further cause the at least one computer to perform:
 receiving information identifying an account of the contract distribution entity;   generating a list of contracts associated with the account for selection by the individual;   responsive to receiving the contract selection from the individual, retrieving a product profile for the contract from the product profile database; and   transmitting a list of available transaction types for the contract to the individual based on the retrieved product profile.   
     
     
         12 . The one or more computer-readable media of  claim 11 , the computer-readable instructions that, when executed by at least one computer, further cause the at least one computer to perform:
 receiving a selection of a transaction type for the contract from the individual; and   generating a transaction information user interface based on the retrieved product profile and the information about the contract received from the contract issuing entity, wherein the transaction information user interface is for receiving a contract change request from the individual.   
     
     
         13 . The one or more computer-readable media of  claim 9 , the computer-readable instructions that, when executed by at least one computer, further cause the at least one computer to perform:
 receiving confirmation of acceptance of the contract transaction request from the contract issuing entity; and   generating a status of the contract transaction request notifying the individual of the acceptance of the contract transaction request by the contract issuing entity.   
     
     
         14 . The one or more computer-readable media of  claim 9 , the computer-readable instructions that, when executed by at least one computer, further cause the at least one computer to perform:
 receiving a result of the contract transaction request from the contract issuing entity; and   updating a status of the contract transaction request based on the received result.   
     
     
         15 . The one or more computer-readable media of  claim 14 , wherein the transmitting a contract transaction request to the contract issuing entity includes transmitting one or more changes to the contract, and wherein the receiving a result of the contract transaction request from the contract issuing entity includes receiving an acceptance or denial of the one or more changes. 
     
     
         16 . The one or more computer-readable media of  claim 14 , the computer-readable instructions that, when executed by at least one computer, further cause the at least one computer to perform
 receiving results of a plurality of contract transaction requests from the contract issuing entity; and   updating a status of each of the plurality of contract transaction requests based on the received results.   
     
     
         17 . A system comprising:
 at least one database configured to maintain a product profile for each of a plurality of contract types of a contract issuing entity; and   at least one computing device, operatively connected to the at least one database, configured to:
 receive product profiles from the contract issuing entity; 
 store the received product profiles in the at least one database; 
 receive a contract selection from an individual associated with the contract; 
 retrieve a product profile for the contract selection from the at least one database; 
 transmit a request for contract information for the contract selection to the contract issuing entity; 
 receive the requested contract information from the contract issuing entity; and 
 transmit a contract transaction request to the contract issuing entity, wherein the contract transaction request is based on the contract information and the product profile. 
   
     
     
         18 . The system of  claim 17 , the at least one computing device further configured to:
 receive account information identifying an account of a contract distribution entity;   generate a list of contracts associated with the account; and   responsive to receiving the contract selection from the individual, generate a transaction information user interface based on the product profile and the contract information, wherein the transaction information user interface is configured to receive a contract change request from the individual.   
     
     
         19 . The system of  claim 17 , the at least one computing device further configured to:
 receive confirmation of acceptance of the contract transaction request from the contract issuing entity; and   generate a status of the contract transaction request, wherein the status indicates the acceptance of the contract transaction request by the contract issuing entity.   
     
     
         20 . The system of  claim 17 , the at least one computing device further configured to:
 receive a result of the contract transaction request from the contract issuing entity; and   update a status of the contract transaction request based on the received result.