Unified Policy Data Model for Dynamic Lifecycle Management
Find Innovative SolutionsGenerate Solutions
Solution Overview
Problem
Existing technologies face inefficiencies in managing policies across different versions of the same insurance product, as they maintain incompatible data models and struggle to make changes to policies due to changes in underlying methods and data operations.
Innovation Solution
The described technologies enable dynamic policy lifecycle management, allowing for integrated insurance policy underwriting and product-independent lifecycle management. This involves configuring policies generated from multiple insurance products and different versions of the same product, enabling customization of underwriting rules and efficient comparison of policies based on various data inputs.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Reliability
If existing technologies maintain separate data models for different versions of the same product, then version-specific requirements are met, but policy management becomes difficult or impossible when changes are needed
Solution Approach 1:
The patent implements a universal data model that can handle multiple product versions through a version identifier field. Instead of maintaining separate incompatible data models, the system uses a single unified model that accommodates different versions by storing version information within the model itself, enabling both version-specific integrity and flexible modification
Solution Approach 2:
The system dynamically adapts to different product versions by using a configurable version identifier that allows the data model to adjust its behavior based on the specific version. This dynamic approach enables the system to maintain version-specific requirements while allowing modifications through conditional logic that responds to the version parameter
2Ease of manufacture
If policies are generated based on specific product versions with fixed data models, then initial policy creation is straightforward, but subsequent changes to policies become difficult or impossible
Solution Approach 1:
The system performs preliminary action by embedding version identification and configuration data within the unified data model at the time of initial policy generation. This preliminary structuring allows the policy to be easily created initially while pre-configuring the flexibility needed for future modifications without requiring model changes
Solution Approach 2:
The patent segments the policy data model into modular components that can be independently modified. By dividing the data model into discrete, configurable segments with version identifiers, the system enables straightforward initial generation while allowing specific segments to be updated or changed in subsequent policy lifecycle stages
3Reliability
If incompatible data models are maintained for different product versions, then each version's specific requirements are preserved, but system complexity increases and policy updates become impossible
Solution Approach 1:
The unified data model serves multiple functions by accommodating different product versions through a single structure. The version identifier field enables the same data model to universally handle version-specific requirements without requiring separate models, thereby reducing complexity while maintaining integrity
Solution Approach 2:
The version identifier acts as an intermediary element within the unified data model that mediates between different product versions. This intermediary allows the system to preserve version-specific data integrity while using a single data model, avoiding the complexity of managing multiple incompatible models
Data Source
AI summary
Systems and methods are disclosed for dynamic policy lifecycle management. In one implementation, one or more specifications are processed with respect to one or more first product requirements to configure a first product model with respect to a first tenant. A first request is received from a first user and the first product model is identified based on the first request. A first policy instance is generated in association with the first product model. A second product model is generated with respect to the first tenant. A second request is received, including a request to change one or more aspects of the first policy instance. In response to the second request, an operation with respect to the first policy instance is initiated based on the association between the first policy instance and the first product model.