Insurance IP Bulletin
An Information Bulletin on Intellectual Property activities in the insurance industry
A Publication of - Tom Bakos Consulting, Inc. and Markets, Patents and Alliances, LLC 		August 15, 2005

VOL: 2005.4

Newly Issued Patents (6/15 – 8/8/05) in Class 705/4

6,895,390        Filed: April 20, 2000              Issued: May 17, 2005       Pendency: 5.08 years       

L&H               System for monitoring increasing income financial products

          ASSIGNEE:     None   

                  FIELD:     Annuity Income – increasing income financial product

        PROBLEMS:    The fact that prior art did not disclose certain important administrative problems associated with an increasing income financial product.

       SOLUTIONS:     A data processing system for implementing and administering an investment account structure consisting of increasing income contracts that pay out from commingled funds increasing income to survivors of a group.  The original principal is distributed to heirs of group members upon expiration of the contract caused by the death of all group members or time.  


6,915,266        Filed: July 31, 2000                Issued: July 5, 2005         Pendency: 5.0 years         

L&H               Method and system for providing evaluation data from tracked, formatted administrative data of a service provider

          ASSIGNEE:     None                

                  FIELD:     Administrative services to a medical service provider

        PROBLEMS:     Medical service providers encounter problems with billing for the services they perform because of the need to comply with the varying requirements of the many different entities they deal with.  The billing software provided by third parties is difficult to select from because reliable information regarding said third party providers is unknown and these systems are not amenable to competition because the software systems used are incompatible.

       SOLUTIONS:     An agent-neutral system for processing administrative data of a medical service provider is described. 

                                    In summary, this is a method for reducing costs to medical service providers, especially small medical practices, by establishing an agent-neutral coordinator which systemizes the outsourcing of administrative processes to practice management agents.

                                    The agent-neutral coordinator creates and maintains agent-neutral operational standards and agent-neutral internet-integrated computer system standards, where agent-neutral means that the practice management agents comply with the coordinator system's operational and data processing standards and software standards, thereby substantially eliminating costs to the medical service provider for switching between the practice management agents.



6,922,720        Filed: March 7, 2002              Issued: July 26, 2005       Pendency: 3.3 years         

P&C               Systems and methods for insuring data over the internet

          ASSIGNEE:     Portogo, Inc. (Minneapolis, MN)             

                 FIELD:      Insuring the security of information handling systems

        PROBLEMS:     Not all users of systems that transmit data electronically have access to, can effectively utilize because of the need for in-house technical support, or can afford commercially available security measures which utilize, for example, the encryption of data. 

       SOLUTIONS:     A system to insure, bond, or underwrite the electronic transmission and receipt of data for a fee is described.