Computer System for Data Processing for Determining Display Data Based on Component Selection Using Rules and Attributes

Abstract

A system includes an insurance component selection platform that transmits data to and receives data from an insurance product component storage unit storing one or more self-descriptive components of an insurance coverage. Each of the stored components may have associated properties defining attributes of the component and one or more values associated with the properties. The components may be selected via a graphical interface generated by the component selection platform to be included in an insurance coverage product. The components may then be combined within constraints of the properties and values of the individual components. An insurance coverage policy may then be presented based on the combination of components.

What is claimed is: 
     
         1 . A computer system for data processing for determining display data based on component selection using component rules and attributes, including outputting for display a graphical interface for receiving data from a user device, comprising:
 one or more data storage devices storing component rules and data indicative of a plurality of components of an insurance coverage, each of the components having one or more associated properties defining attributes of the components and one or more values associated with the properties;   one or more computer processors in communication with the one or more data storage devices;   a communications device in communication with the one or more computer processors and the one or more data storage devices; and   a memory, coupled to the one or more computer processors, storing program instructions which, when executed by the one or more computer processors, cause the one or more computer processors to:
 output, for display on a graphical user interface, data indicative of a plurality of insurance coverage components for selection by a user; 
 transmit, by the communications device, the display of the data indicative of the plurality of insurance coverage components to a user device; 
 receive, by the communications device from the user device, data indicative of a user selection of at least two insurance coverage components from the plurality of insurance coverage components on the graphical user interface; and 
 responsive to receipt of the user selected insurance coverage components:
 determine an insurance coverage based on (1) component rules associated with the at least two components of the user selected insurance coverage components, and (2) properties defining attributes of the at least two components of the user selected insurance coverage components and one or more values associated with the properties; 
 output, for display on the graphical user interface, data indicative of the insurance coverage determined based on the component rules and the properties defining attributes; and 
 transmit, by the communications device, the data indicative of the display of the insurance coverage to the user device, the data indicative of the display being based on the component rules and the properties defining attributes. 
 
   
     
     
         2 . The computer system of  claim 1 , wherein at least some of the plurality of the components stored in the one or more data storage devices are components that have been pre-filed with and approved by a regulatory entity having regulatory jurisdiction regarding the insurance coverage. 
     
     
         3 . The computer system of  claim 1 , wherein one of the properties associated with each of the components stored in the one or more data storage devices defines at least one of an individual rating and a pricing algorithm for determining a premium for an insurance product including each component. 
     
     
         4 . The computer system of  claim 1 , wherein the memory storing program instructions which cause the one or more processors to generate an insurance coverage based on component rules associated with the at least two components of the user selected insurance coverage components comprise the memory storing program instructions which cause the one or more processors to:
 responsive to receipt of the user selected insurance coverage components, and before generation of the insurance coverage, automatically validate the user selected insurance coverage components based on the component rules;   responsive to a positive validation of the user selected insurance coverage components, generate the insurance coverage based on the properties defining attributes of the at least two components of the user selected insurance coverage components and one or more values associated with the properties; and   responsive to a negative validation of the user selected insurance coverage components based on the component rules:
 automatically output for display on the graphical user interface a recommended component for selection; and 
 transmit, by the communications device to the user device, the display including the recommended component. 
   
     
     
         5 . The computer system of  claim 4 , wherein the program instructions which cause the one or more computer processors to automatically validate the user selected insurance coverage components based on the component rules comprise program instructions which cause the one or more computer processors to validate the user selected insurance coverage components based on one or more of a minimum value associated with each component, a maximum value associated with each component, a geographic location associated with the insurance coverage, a presence of another selected component, an absence of another selected component, and an underwriting criteria. 
     
     
         6 . The computer system of  claim 4 , wherein the component rules comprise compositional rules defining how another component may be combined with the component in some or all sections of an insurance coverage. 
     
     
         7 . The computer system of  claim 1 , wherein the program instructions which cause the one or more computer processors to generate an insurance coverage based on properties defining attributes of the user selected insurance coverage components comprises program instructions which cause the one or more computer processors to determine an insurance coverage by combining the user selected insurance coverage components within constraints of the properties and values associated with each of the components of the user selected insurance coverage components. 
     
     
         8 . The computer system of  claim 1 , wherein the one or more data storage devices include availability rules defining whether a component is available in an insurance coverage; and
 wherein the program instructions which cause the one or more computer processors to output, for display one the graphical user interface, the data indicative of the plurality of insurance coverage components for selection by the user, comprises program instructions which cause the one or more computer processors to:
 determine, based on the availability rules, which insurance coverage components are available; and 
 output, for display on the graphical user interface, the data indicative of the available insurance coverage components. 
   
     
     
         9 . The computer system of  claim 1 , wherein the one or more data storage devices include (1) availability rules defining whether a component is available in an insurance coverage, and (2) compositional rules defining whether another component is compatible or incompatible with the component in some or all sections of an insurance coverage; and
 further comprising program instructions which, when executed by the one or more computer processors, cause the one or more computer processors to:   responsive to receipt of a selection of one of the insurance coverage components by the user, and before determination of the insurance coverage:
 determine, based on the one of the user selected insurance coverage components, the availability rules, and the compositional rules, whether one or more of the unselected plurality of insurance coverage components on the graphical user interface is incompatible with the one of the user selected insurance coverage components; and 
 responsive to a positive determination that one or more of the unselected plurality of insurance coverage components is incompatible with the one of the user selected insurance coverage components:
 automatically output, for display on the graphical user interface, an updated display which does not include the incompatible insurance coverage components; and 
 transmit, by the communications device to the user device, the updated display. 
 
   
     
     
         10 . The computer system of  claim 1 , further comprising program instructions which, when executed by the one or more computer processors, cause the one or more computer processors to:
 responsive to receipt of the user selected insurance coverage components, and before determination of the insurance coverage:
 review the user selected one or more insurance coverage components; and 
 determine, based on one or both of the user selected one or more insurance coverage components and user information, at least one additional component to recommend to the user; 
 present for display on the graphical user interface the recommended component to the user. 
   
     
     
         11 . The computer system of  claim 1 , further comprising:
 one or more rating computer data storage devices storing data indicative of rates and data indicative of rules corresponding to the plurality of insurance coverage components;   one or more rating computer processors in communication with the one or more rating computer data storage devices;   a rating computer communications device in communication with the one or more rating computer processors and the one or more rating data storage devices; and   a rating computer memory, coupled to the one or more rating computer processors, storing program instructions which, when executed by the one or more rating computer processors, cause the one or more rating computer processors to:
 receive, by the rating computer communications device from the communications device, data indicative of the generated insurance coverage; 
 calculate a premium based on the data indicative of the generated insurance coverage, the data indicative of rates, and the data indicative of rules corresponding to the components of the generated insurance coverage; and 
 transmit, by the rating computer communication device, data indicative of the premium to the communications device. 
   
     
     
         12 . The insurance computer system of  claim 11 , further comprising:
 one or more policy issuance computer data storage devices storing data indicative of policy writing rules;   one or more policy issuance computer processors in communication with the one or more policy issuance computer data storage devices;   a policy issuance computer communications device in communication with the one or more policy issuance computer processors and the one or more policy issuance data storage devices; and   a policy issuance computer memory, coupled to the one or more policy issuance computer processors, storing program instructions which, when executed by the one or more policy issuance computer processors, cause the one or more policy issuance computer processors to:
 receive, by the policy issuance computer communications device, the data indicative of the generated insurance coverage and the data indicative of the premium; 
 generate, based on the data indicative of the generated insurance coverage, the data indicative of the premium, and the policy writing rules, one or more policy documents incorporating the generated insurance coverage and the calculated premium; and 
 transmit, by the policy issuance computer communication device, the one or more policy documents to a publishing computer. 
   
     
     
         13 . A computer-implemented method for data processing for data processing for determining display data based on component selection using component rules and attributes, including outputting for display a graphical interface for receiving data from a user device, comprising:
 determining a component-based insurance coverage, comprising:   accessing, by one or more computer processors, one or more data storage devices storing data indicative of a plurality of components of an insurance coverage, each of the components having one or more associated properties defining attributes of the components and one or more values associated with the properties;   outputting, by the one or more computer processors for display on a graphical user interface, data indicative of a plurality of insurance coverage components for selection by a user;   transmitting, by a communications device, the display of the data indicative of a plurality of insurance coverage components for selection to a user device;   receiving, by the communication device from the user device, data indicative of a user selection of at least two insurance coverage components from the plurality of insurance coverage components on the graphical user interface;   responsive to receipt of the user selected insurance coverage components, generating, by the one or more computer processors, an insurance coverage based on (1) a component rule associated with the user selected insurance coverage components, and (2) properties and values associated with the user selected insurance coverage components;   outputting, by the one or more computer processors, for display on the graphical user interface, data indicative of the generated insurance coverage; and   transmitting, by the communications device, the display of the data indicative of the generated insurance coverage to the user device.   
     
     
         14 . The computer-implemented method of  claim 13 , wherein at least some of the plurality of the components stored in the one or more data storage devices are components that have been pre-filed with and approved by a regulatory entity having regulatory jurisdiction regarding the insurance coverage. 
     
     
         15 . The computer-implemented method of  claim 13 , further comprising:
 responsive to using the component rule and the properties and values to generate the insurance coverage, outputting, by the one or more computer processors for display on the graphical user interface, a second plurality of insurance coverage components;   receiving, by the one or more computer processors, data indicative of one or more additional insurance coverage components selected by the user from the second plurality of insurance coverage components; and   generating, by the one or more computer processors, the insurance coverage based on the properties, values, and component rule associated with the additional user selected insurance coverage components and the properties, values, and component rule associated with the user selected insurance coverage components.   
     
     
         16 . The computer-implemented method of  claim 13 , further comprising:
 receiving, by a rating computer communications device from the communications device, data indicative of the generated insurance coverage;   calculating, by one or more rating computer processors based on the data indicative of the generated insurance coverage and data indicative of rates and algorithm rules stored in one or more rating computer storage devices, a premium for the generated insurance coverages;   outputting, by the one or more rating computer processors, data indicative of the calculated premium for the generated insurance coverages; and   transmitting, by the rating computer communication device, data indicative of the premium to the communications device.   
     
     
         17 . The computer-implemented method of  claim 16 , further comprising:
 generating, by one or more policy issuance computer processors of a policy issuance computer in communication with the one or more computer processors and the one or more rating computer processors, one or more insurance policy documents incorporating the generated insurance coverages and the calculated premium; and   transmitting, by a policy issuance communications device, the one or more insurance policy documents to a publishing computer.   
     
     
         18 . A computer system for data processing for determining display data based on component selection using component rules and attributes, including outputting for display a graphical interface for receiving data from a user device, comprising:
 one or more data storage devices storing data indicative of a plurality of components of an insurance coverage, each of the components having one or more associated properties defining attributes of the components and one or more values associated with the properties;   one or more computer processors in communication with the one or more data storage devices;   a communications device in communication with the one or more computer processors and the one or more data storage devices; and   a memory, coupled to the one or more computer processors, storing program instructions which, when executed by the one or more computer processors, cause the one or more computer processors to:
 output, for display on a graphical user interface, data indicative of a plurality of insurance coverage components for selection by a user; 
 transmit, by the communications device, the display of the data indicative of the plurality of insurance coverage components to a user device; 
 receive, by the communications device from the user device, data indicative of a user selection of insurance coverage components from the plurality of insurance coverage components on the graphical user interface, wherein the user selected insurance coverage components comprises at least two insurance coverage components; and 
 responsive to receipt of the user selected insurance coverage components:
 verify the user selected insurance coverage components based on a component rule associated with the selected one or more components; 
 responsive to affirmative verification of the user selected insurance coverage components, determine a premium corresponding to an insurance coverage including the user selected insurance coverage components; 
 transmit, by the communications device, the data indicative of the insurance coverage and the data indicative of the premium to at least one of the user device or a printer. 
 
   
     
     
         19 . The computer system of  claim 18 , wherein the component rule comprises one or both of a compositional rule defining whether another component may be combined with the component in some or all sections of an insurance coverage and an availability rule defining whether a component is available in an insurance coverage. 
     
     
         20 . The computer system of  claim 18 , wherein the memory storing program instructions which cause the one or more computer processors to determine the premium corresponding to an insurance coverage including the user selected insurance coverage components comprise the memory storing program instructions which cause the one or more computer processors to:
 transmit, to a rating computer including one or more rating computer data storage devices storing data indicative of rates and rules corresponding to the plurality of insurance coverage components, the data indicative of the insurance coverage;   receive, from the rating computer, data indicative of a determined premium, wherein the premium is determined based on the data indicative of the generated insurance coverage and the data indicative of rates and rules corresponding to the components of the generated insurance coverage.