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Insurance Abstract
A game that serves to educate a player about the decision making
process for determining the cost of a premium for insurance coverage
for an entity. The player(s) and/or team(s) select a fictitious
name for an insurance company. The company can subsequently bid
on providing insurance coverage for an entity. Several rounds of
bidding on insurance premiums for providing insurance coverage to
an entity can be played before determining a winner of the game.
A round consists of a player(s) and/or team(s) bidding on the amount
to charge for an insurance premium to insure the entity for a particular
period of time, such as one year. The winner of a round is the insurance
company (player/team) that provides the lowest bid for the insurance
premium for the particular period of time.
Insurance Claims
1. A method for teaching how insurance is provided for an entity,
comprising: providing at least one factor associated with the entity,
wherein the factor is associated with a potential likelihood of
a claim by the entity for insurance reimbursement over a period
of time; bidding on a premium to provide insurance for the entity
over the period of time, wherein the bid is based at least in part
on the at least one factor associated with the entity; generating
at least one claim for the entity over the period of time; and identifying
a user that bid for the premium at a lowest cost over the period
of time, and identifying a winner as at least one user with a largest
positive reserve of funds after deducting the generated at least
one claim from the premium that was lowest bid by the winner.
2. The method of claim 1, further comprising repeating the actions
of the method until at least one of a predetermined period of time
is over or the actions of the method have been repeated for a selected
number of times.
3. The method of claim 2, wherein repeating the actions further
comprises providing a reserve of the user that bid for the premium
at the lowest cost with additional funds, wherein the additional
funds are representative in part of a potential for renewal of the
insurance by the entity with that user.
4. The method of claim 1; further comprising identifying the winner
with the largest positive reserve of funds after deducting at least
a cost of providing insurance and the at least one generated claim.
5. The method of claim 1, wherein the entity is at least one of
a company, corporation, partnership, sole proprietorship, cooperative,
non-profit organization, educational institution, government agency,
limited liability corporation, limited liability partnership, or
professional corporation.
6. The method of claim 1, wherein the factor includes at least
one of participation, industry, age, gender, or family.
7. The method of claim 1, further comprising a plurality of potential
claims that are included in a datastore, wherein the plurality of
potential claims are arranged in the datastore based on at least
one of probability, incidence or weighting.
8. The method of claim 1, further comprising enabling at least
one user to change a coverage of the insurance for claims generated
for the entity.
9. The method of claim 1, further comprising enabling at least
one user to change the generated claims for the entity.
10. The method of claim 1, further comprising enabling at least
one user to select an association with a company, and enabling at
least one user to select a name for the company.
11. A game for teaching how insurance is provided for an entity,
comprising: a module for providing at least one factor associated
with the entity, wherein the factor is associated with a potential
likelihood of a claim by the entity for insurance reimbursement
over a period of time; a module for bidding on a premium to provide
insurance for the entity over the period of time, wherein the bid
is based at least in part on the at least one factor associated
with the entity; a module for generating at least one claim for
the entity over the period of time; and a module for identifying
a user that bid for the premium at a lowest cost over the period
of time, and identifying a winner as at least one user with a largest
positive reserve of funds after deducting the generated at least
one claim from the premium that was lowest bid by the winner.
12. The game of claim 11, further comprising a module for enabling
a plurality of users to bid over a network on the premium for providing
insurance for the entity.
13. The game of claim 11, further comprising a module for repeating
the actions of the method until at least one of a predetermined
period of time is over or the actions of the game have been repeated
for a selected number of times.
14. The game of claim 13, wherein repeating the actions further
comprises providing a reserve of the user that bid for the premium
at the lowest cost with additional funds, wherein the additional
funds are representative in part of a potential for renewal of the
insurance by the entity with that user.
15. The game of claim 11, further comprising a module for identifying
the winner with the largest positive reserve of funds after deducting
at least a cost of providing insurance and the at least one generated
claim.
16. The game of claim 11, wherein the actions are performed in
at least one of a client-server architecture, peer architecture,
or a stand alone application.
17. A processor readable medium that includes code for enabling
actions for teaching how insurance is provided for an entity, comprising:
a module for providing at least one factor associated with the entity,
wherein the factor is associated with a potential likelihood of
a claim by the entity for insurance reimbursement over a period
of time; a module for bidding on a premium to provide insurance
for the entity over the period of time, wherein the bid is based
at least in part on the at least one factor associated with the
entity; a module for generating at least one claim for the entity
over the period of time; and a module for identifying a user that
bid for the premium at a lowest cost over the period of time, and
identifying a winner as at least one user with a largest positive
reserve of funds after deducting the generated at least one claim
from the premium that was lowest bid by the winner.
18. The processor readable medium of claim 17, further comprising
a module for enabling a plurality of users to bid over a network
on the premium for providing insurance for the entity.
19. The processor readable medium of claim 17, further comprising
a module for repeating the actions until at least one of a predetermined
period of time is over or the actions of the game have been repeated
for a selected number of times.
20. An apparatus for enabling actions to determine a premium for
insurance, comprising: a memory for storing code that enables actions;
a processor for performing actions, including: providing at least
one factor associated with the entity, wherein the factor is associated
with a potential likelihood of a claim by the entity for insurance
reimbursement over a period of time; bidding on a premium to provide
insurance for the entity over the period of time, wherein the bid
is based at least in part on the at least one factor associated
with the entity; generating at least one claim for the entity over
the period of time; and identifying a user that bid for the premium
at a lowest cost over the period of time, and identifying a winner
as at least one user with a largest positive reserve of funds after
deducting the generated at least one claim from the premium that
was lowest bid by the winner.
Insurance Description
FIELD OF THE INVENTION
[0001] The present invention relates generally to video games,
and more particularly, to teaching predictive modeling of premiums
for insurance.
BACKGROUND OF THE INVENTION
[0002] Computer video games are a popular form of entertainment
finding widespread use in a variety of forms, including: standalone
game systems, game cartridge systems connected to television sets,
and game software for personal computers.
[0003] Many video game systems, today, are played across multiple
computers, which are connected together by a network. These systems
allow multiple players sitting at individual computers, often remote
from each other, to participate in, the same game. Players are able
to compete against each other as well as simulated opponents that
may be managed by a game server, thereby adding a new dimension
to the competition. These systems, and others, may also allow many
players to participate in separate video games competing against
a simulated opponent managed by the game server, rather than another
remote player.
[0004] For their part, many of today's video games are written
in a wide variety of methods, such as object-oriented programming
languages, scripts and interpreted programming languages. The data
for playing video games are often stored in tables, databases, spreadsheets,
and the like.
[0005] Although video games have been popular as a form of entertainment
for some time, they have also found acceptance for educational purposes
in various industries/businesses. For example, an educational video
game might be employed to communicate relatively complex business
concepts in an engaging and user friendly manner to employees with
diverse backgrounds. It is thus with respect to these considerations,
and others, that the invention has been made.
BRIEF DESCRIPTION OF THE DRAWINGS
[0006] Non-limiting and non-exhaustive embodiments of the present
invention are described with reference to the following drawings.
In the drawings, like reference numerals refer to like parts throughout
the various figures unless otherwise specified.
[0007] For a better understanding of the present invention, reference
will be made to the following Detailed Description of the Preferred
Embodiment, which is to be read in association with the accompanying
drawings, wherein:
[0008] FIG. 1 shows a block diagram of a system for implementing
an embodiment of the invention;
[0009] FIG. 2 illustrates a block diagram of an embodiment of modules
for a video game application;
[0010] FIG. 3 shows a flow chart of a process for implementing
an embodiment of the video game application;
[0011] FIG. 4 shows a flow chart of a process for randomly generating
end of year claims for the video game application;
[0012] FIG. 5 illustrates a flow chart of a process for generating
parameters for each company name to be played in the video game
application;
[0013] FIG. 6 illustrates a flow chart of a process for determining
the winner of a session of the video game application;
[0014] FIG. 7 shows an exemplary user interface for the video game
application; and
[0015] FIG. 8 illustrates a graph of insurance premium cost versus
insurance coverage, in accordance with the invention.
DETAILED DESCRIPTION OF THE INVENTION
[0016] The present invention is directed to addressing the above-mentioned
shortcomings, disadvantages and problems, and will be understood
by reading and studying the following specification.
[0017] The present invention now will be described more fully hereinafter
with reference to the accompanying drawings, which form a part hereof,
and which show, by way of illustration, specific exemplary embodiments
by which the invention may be practiced. This invention may, however,
be embodied in many different forms and should not be construed
as limited to the embodiments set forth herein; rather, these embodiments
are provided so that this disclosure will be thorough and complete,
and will fully convey the scope of the invention to those skilled
in the art. Among other things, the present invention may be embodied
as methods or devices. Accordingly, the present invention may take
the form of an entirely software embodiment or an embodiment combining
software and hardware aspects. The following detailed description
is, therefore, not to be taken in a limiting sense.
[0018] Briefly stated, the invention is directed towards a method
and system for a game that serves to educate a player about the
decision making process for determining the cost of a premium for
insurance coverage for an entity. The inventive game presents information
to a player in such a way that a sensitivity can be developed regarding
the variability and unpredictability of the costs associated with
an insurance policy. In one embodiment, the insurance is provided
for health care costs incurred over a period of time by several
employees of the entity. However, in other embodiments, the insurance
can cover entity property losses either separate from or in addition
to employee health care costs. An entity includes, but is not limited
to, a company, corporation, partnership, sole proprietorship, cooperative,
non-profit organization, educational institution, government agency,
limited liability corporation, professional corporation, limited
liability partnership, and the like.
[0019] The invention can be played with single or multiple players,
and the playing of the game enables a player to review various factors
that are considered in selecting an insurance premium that is both
profitable and attractive to customers. Prior to playing the game,
the player(s) and/or team(s) select a fictitious name for an insurance
company. In the fictitious name of the insurance company, a player/team
can subsequently bid on providing insurance coverage for an entity.
Several rounds of bidding on insurance premiums for providing insurance
coverage to an entity can be played before determining a winner
of the game. A round consists of a player(s) and/or team(s) bidding
on the amount to charge for an insurance premium to insure the entity
for a particular period of time, such as one year. The winner of
a round is the insurance company (player/team) that provides the
lowest bid for the insurance premium for the particular period of
time.
[0020] The gain (or loss) from the lowest bid premium is calculated
for the round winner as the premium less claims less operational
expenses plus optional market share retention bonus for the particular
period of time. This gain (or loss) is added (subtracted) to an
initial reserve of assets associated with the fictitious insurance
company. Typically, each fictitious insurance company starts with
the same initial amount of reserve assets, e.g., $250,000. However,
in other embodiments, the amount of the reserve assets can be unequally
chosen and provided in different ways, such as random, predetermined
and/or selected. Also, the optional market share retention bonus
may be added to the reserve assets of the fictitious insurance company
that wins a round to reflect the likelihood that a significant percentage
of insured entities are likely to automatically renew their insurance
coverage with the winner of a round. Typically, a winner of the
game is identified after a predetermined period of time has elapsed
and/or a predetermined number of rounds have been played. The winner
of the game is the player/team that corresponds to the fictitious
insurance company that has the most reserve assets after playing
the final round.
[0021] Typically, the game is played by two or more teams of one
or more players that initially provide a particular name (or select
one of a plurality of provided names) for a fictional insurance
company. Each fictional insurance company is subsequently associated
with the team that provided/selected the particular name. However,
in some embodiments, a single player and/or team can also play against
a virtual player and/or team controlled by the video game application.
In either case, once the names of the fictional insurance companies
are provided/selected, several insurance factors are provided regarding
statistical issues associated with the potential losses of an entity
that is seeking insurance. Typically, these insurance factors are
randomly generated and they are provided for consideration by each
team. However, these factors are provided to each team for review
prior to bidding on an insurance premium, the factors themselves
are randomly selected, and the factors are employed in the generation
of claims for an entity over a particular period of time. Additionally,
the number of employees for an entity is usually predetermined,
e.g., 100. However, in some embodiments, the number of employees
can be significantly greater or less than 100, and can be selected
or randomly chosen.
[0022] Health care insurance factors provided for consideration
by each team can include, but are not limited to, participation,
industry, age, gender, and percentage of members with families.
The participation factor is based on the number of eligible members
that actually subscribe to the insurance. Also, since some types
of industries tend to have statistically more member insurance claims,
this factor can be a significant consideration in determining the
cost of premiums for the entity. Similarly, the age and gender of
members can be a factor in determining the cost of the premium to
pay for an insurance policy.
[0023] Once the insurance factors are randomly generated by the
game for the entity and provided to the players/teams, they can
place their bids for an insurance premium to provide insurance coverage
for the entity. However, in other embodiments, these factors can
be randomly generated after the bids for the insurance premiums
have been offered.
[0024] Additionally, if a premium to provide property insurance
coverage is to be bid on for the entity, property insurance factors
can be provided for consideration by each player/team. These factors
can include, but are not limited to, location, industry, age, portability,
value, and the like.
[0025] Typically, the claims for the particular period of time
to be covered by the premium are randomly generated from a datastore
of potential claims that are based at least in part on their statistical
probability of occurring. The listing of potential claims that are
employed to generate the end of year claims can be arranged in a
table, database, spreadsheet, list, document, and the like. Also,
the likelihood of randomly selecting a potential claim in the datastore
can be based on including, but not limited to, statistics, incidence,
weighting, and the like.
[0026] The players/teams can play the game once to determine a
winner or they can choose to repeat the video game several times
for the same entity or another entity until a winner is subsequently
declared. Additionally, an embodiment can enable a user to change
the coverage of claims for which the insurance premium is bid. This
type of adjustment can be shown in a user interface, e.g., a graph,
histogram, and the like. Also, this adjustment can be illustrated
with colors, graphics, pictures, sounds, and the like.
[0027] Typically, an insurance company includes large numbers of
employees with diverse backgrounds and motivations, such actuaries,
underwriters, salespersons, and the like. It is envisioned that
insurance company employees with relatively diverse backgrounds
could play this video game to facilitate their understanding of
the complex business factors that are considered to find equilibrium
between profit margin and enrollment gain. The team building and
educational aspects of this game can also be useful in facilitating
communication between employees regarding business factors that
can lead to success in the insurance industry.
Illustrative Operating Environment
[0028] FIG. 1 illustrates one embodiment of an environment in which
an embodiment the present invention may operate. However, not all
of these components may be required to practice the invention, and
variations in the arrangement and type of the components may be
made without departing from the spirit or scope of the invention.
As shown, system 100 of FIG. 1 includes network 105, wireless network
110, server 106, client device 102, and mobile device 104.
[0029] Generally, client device 102 may include virtually any computing
device capable of receiving and sending a message over a network,
such as network 105, wireless network 110, and the like, to and
from another computing device, such as server 106, mobile device
104, and the like. The set of such devices may include devices that
typically connect using a wired communications medium such as personal
computers, multiprocessor systems, microprocessor-based or programmable
consumer electronics, network PCs, and the like. The set of such
devices may also include devices that typically connect using a
wireless communications medium such as cell phones, smart phones,
pagers, walkie talkies, radio frequency (RF) devices, infrared (IR)
devices, CBs, integrated devices combining one or more of the preceding
devices, or virtually any mobile device, and the like. Similarly,
client device 102 also may be any computing device that is capable
of connecting using a wired or wireless communication medium such
as a PDA, POCKET PC, laptop computer, wearable computer, and any
other device that is equipped to communicate over a wired and/or
wireless communication medium.
[0030] Client device 102 may include a browser application that
is configured to receive and to send web pages, web-based messages,
and the like. The browser application may be configured to receive
and display graphics, text, multimedia, and the like, employing
virtually any web based language, including Standard Generalized
Markup Language (SMGL), such as HyperText Markup Language (HTML),
and so forth.
[0031] Client device 102 may further include a client application
that enables it to perform a variety of other actions, including,
communicating a message, such as through a Short Message Service
(SMS), Multimedia Message Service (MMS), instant messaging (IM),
internet relay chat (IRC), mIRC, Jabber, and the like, between itself
and another computing device. The browser application, and/or another
application, such as the client application, a plug-in application,
and the like, may enable client device 102 to communicate content
to another computing device.
[0032] Mobile device 104 represents one embodiment of a client
device that is configured to be portable. Thus, mobile device 104
may include virtually any portable computing device capable of connecting
to another computing device and receiving information. Such devices
include portable devices such as, cellular telephones, smart phones,
display pagers, radio frequency (RF) devices, infrared (IR) devices,
Personal Digital Assistants (PDAs), handheld computers, laptop computers,
wearable computers, tablet computers, integrated devices combining
one or more of the preceding devices, and the like. As such, mobile
device 104 typically ranges widely in terms of capabilities and
features. For example, a cell phone may have a numeric keypad and
a few lines of monochrome LCD display on which only text may be
displayed. In another example, a web-enabled remote device may have
a touch sensitive screen, a stylus, and several lines of color LCD
display in which both text and graphics may be displayed. Moreover,
the web-enabled remote device may include a browser application
enabled to receive and to send wireless application protocol messages
(WAP), and the like. In one embodiment, the browser application
is enabled to employ a Handheld Device Markup Language (HDML), Wireless
Markup Language (WML), WMLScript, JavaScript, and the like, to display
and send a message.
[0033] Mobile device 104 also may include at least one client application
that is configured to receive content from another computing device.
The client application may include a capability to provide and receive
textual content, graphical content, audio content, and the like.
The client application may further provide information that identifies
itself, including a type, capability, name, identifier, and the
like. The information may also indicate a content format that mobile
device 104 is enabled to employ. Such information may be provided
in a message, or the like, sent to server 106, and the like.
[0034] Mobile device 104 may be configured to communicate a message,
such as through a Short Message Service (SMS), Multimedia Message
Service (MMS), instant messaging (IM), internet relay chat (IRC),
mIRC, Jabber, and the like, between another computing device, such
as server 106, and the like. However, the present invention is not
limited to these message protocols, and virtually any other message
protocol may be employed.
[0035] Client device 102 and/or mobile device 104 may be further
configured to enable a user to participate in a game application
for determining insurance company premiums, and the like, which
may in turn be saved at a location, such as server 106, client device,
mobile device, and the like. As such, client device 102 and/or mobile
device 104 may further include a client application that is configured
to manage various actions on behalf of the client device. For example,
the client application may enable a user to interact with the browser
application, email application, and the like, to manage their video
game information. For example, the user may employ the client application,
in part, to create a user profile, access and interact with the
video game application.
[0036] Wireless network 110 is configured to couple mobile device
104 and its components with network 105. Wireless network 110 may
include any of a variety of wireless sub-networks that may further
overlay stand-alone ad-hoc networks, and the like, to provide an
infrastructure-oriented connection for mobile device 104. Such sub-networks
may include mesh networks, Wireless LAN (WLAN) networks, cellular
networks, and the like.
[0037] Wireless network 110 may further include an autonomous system
of terminals, gateways, routers, and the like connected by wireless
radio links, and the like. These connectors may be configured to
move freely and randomly and organize themselves arbitrarily, such
that the topology of wireless network 110 may change rapidly.
[0038] Wireless network 110 may further employ a plurality of access
technologies including 2nd (2G), 3rd (3G) generation radio access
for cellular systems, WLAN, Wireless Router (WR) mesh, and the like.
Access technologies such as 2G, 3G, and future access networks may
enable wide area coverage for mobile devices, such as mobile device
104 with various degrees of mobility. For example, wireless network
110 may enable a radio connection through a radio network access
such as Global System for Mobile communication (GSM), Code Division
Multiple Access (CDMA), General Packet Radio Services (GPRS), Enhanced
Data GSM Environment (EDGE), Wideband Code Division Multiple Access
(WCDMA), CDMA 2000, Universal Mobile Telecommunication System (UMTS),
and the like. In essence, wireless network 110 may include virtually
any wireless communication mechanism by which information may travel
between mobile device 104 and another computing device, network,
and the like.
[0039] Network 105 is configured to couple server 106 and its components
with other computing devices, including, client device 102, server
106, and through wireless network 110 to mobile device 104. Network
105 is enabled to employ any form of computer readable media for
communicating information from one electronic device to another.
Also, network 105 can include the Internet in addition to local
area networks (LANs), wide area networks (WANs), direct connections,
such as through a universal serial bus (USB) port, other forms of
computer-readable media, or any combination thereof. On an interconnected
set of LANs, including those based on differing architectures and
protocols, a router acts as a link between LANs, enabling messages
to be sent from one to another. Also, communication links within
LANs typically include twisted wire pair or coaxial cable, while
communication links between networks may utilize analog telephone
lines, full or fractional dedicated digital lines including T1,
T2, T3, and T4, Integrated Services Digital Networks (ISDNs), Digital
Subscriber Lines (DSLs), wireless links including satellite links,
or other communications links known to those skilled in the art.
Furthermore, remote computers and other related electronic devices
could be remotely connected to either LANs or WANs via a modem and
temporary telephone link. In essence, network 105 includes any communication
method by which information may travel between server 106 and another
computing device.
[0040] Additionally, communication media typically embodies computer-readable
instructions, data structures, program modules, or other data in
a modulated data signal such as a carrier wave, data signal, or
other transport mechanism and includes any information delivery
media. The terms "modulated data signal," and "carrier-wave
signal" includes a signal that has one or more of its characteristics
set or changed in such a manner as to encode information, instructions,
data, and the like, in the signal. By way of example, communication
media includes wired media such as twisted pair, coaxial cable,
fiber optics, wave guides, and other wired media and wireless media
such as acoustic, RF, infrared, and other wireless media.
[0041] In one embodiment, server 106 provides support for a game
application. Server 106 may include any computing device capable
of connecting to network 105 to enable a user of at least one of
client device 102 and mobile device 104 to play the game and communicate
related information. Devices that may operate as server 106 include
personal computers desktop computers, multiprocessor systems, microprocessor-based
or programmable consumer electronics, mobile devices, network PCs,
servers, and the like.
[0042] It is noted that while FIG. 1 illustrates a single computing
device operable as server 106, the invention is not so limited.
For example, the actions attributable to server 106 may be distributed
across multiple computing devices, such as a group of servers, a
network cluster, and the like, without departing from the scope
or spirit of the invention.
[0043] Additionally, although not shown, a peer-to-peer arrangement
of wired and/or wireless devices can also be arranged to perform
substantially the same actions attributable to the client-server
architecture disclosed for FIG. 1. Furthermore, although not shown,
the functionality of the server and the client may be arranged in
an application that operates on one or multiple computing devices.
[0044] FIG. 2 illustrates a block diagram of overview 200 of program
modules for implementing an embodiment of an exemplary game application.
Game module 202 is in communication with a plurality of modules
that implement various functions for the game, including, but not
limited to, random number module 204, network interface module 206,
claim probability module 208, user interface module 210, and the
like. In one or more embodiments, game module 202 can be arranged
in a client-server architecture, peer to peer architecture, and/or
as a stand alone application. Also, network interface module 206
can be optionally employed to communicate over a network (wireless
and/or wired) with other video game modules and components.
[0045] In one embodiment, claim probability module 206 can include
a table of potential claims where the incidence (number of times
a potential claim is repeated in the table) is correlated to the
probability that such a potential claim might occur over a period
of time, such as one year. For example, if a table included 10,000
entries and the incidence of a particular type of potential claim
was 1%, then there would be 100 entries in the table for that type
of claim (100/10,000=1%). Additionally, random number module 204
can include a random number generator that is employed to randomly
indicate rows in the claim probability table that are correlated
to the potential claims in the table. These randomly indicated potential
claims are subsequently employed as the end of year claims associated
with a potential customer of the teams/players of the game.
Illustrative Flow Charts
[0046] FIG. 3 illustrates an overview 300 of actions associated
with "winning" the game. Moving from a start block, the
process advances to block 302 where the gain or loss of the premium
provided by the winner (lowest bidding company) of a round is determined.
Typically, the gain or loss includes the amount of the premium less
the claims for the determined period of time less operational expenses,
as discussed elsewhere in the specification. At block 304, the profit
or loss of the lowest bid premium for the round (after covering
claims and operational expenses) is added to an asset reserve for
the winning company
[0047] Flowing to block 306, an additional gain is optionally added
to the winning insurance company's asset reserve to reflect the
likelihood that members of the insured entity may automatically
renew their insurance with the winner. Next, the process advances
to decision block 308, where a determination is made as to whether
or not the game has been played for "N" rounds, e.g.,
each round could represent one or more virtual years that the teams/players
have chosen to play. If the determination at decision block 308
is false, the process loops back to block 302 where substantially
the same actions discussed above are repeated.
[0048] However, if the determination at decision block 308 is true,
the process advances to block 310 where the winning virtual insurance
company is determined by identifying the company with the largest
gain in their asset reserve over the N rounds. Next, the process
returns to processing further actions.
[0049] FIG. 4 shows a flow chart of process 400 for randomly determining
the claims associated with an entity for a round of the game. Moving
from a start block, the process advances to block 402 where random
numbers are generated. At block 404, each randomly generated number
is mapped to a separate claim included in a datastore, such as a
table, list, and the like. In one embodiment, the incidence of each
type of claim in the datastore is at least partially based on the
probability of occurrence of the claim over a predetermined period
of time, such as one or more years. In another embodiment, a weight
can be employed either singly, or in combination with another factor,
such as random selection, to map the separate claims to each randomly
generated number.
[0050] Advancing to block 406, the claims for the round are generated
based on the mapping of the randomly generated numbers to claims
in the datatstore. Flowing to block 408, the process determines
the amount of that a premium could cover the cost of the generated
claims for the round. Next, the process advances to performing other
actions.
[0051] FIG. 5 illustrates a flow chart of process 500 for generating
factors that can be employed to generate (more or less) claims for
the entity in a round. Also, the generated factors can be employed
by the players/teams to determine the amount of a premium that is
bid in a round. In different embodiments, these factors can be represented
as ratios, percentages, constants, weights, and the like. Moving
from a start block, the process advances to block 502 where an insurance
company is selected by each team/player. Also, the teams/players
can optionally provide and/or select a name for their respective
insurance company. At block 504, the participation factor is randomly
generated for the potential members of the entity to be insured.
Typically, the participation factor is less than or equal to 100%
of the entity's employees.
[0052] The process steps to block 506 where another factor is generated
for the industry that the entity is associated with. For example,
if the entity is associated with a dangerous industry, e.g., deep
sea diving, the industry factor could be substantially greater than
100% (more likely to have significant and frequent claims). However,
if the entity is associated with a relatively safe industry, such
as accounting, the industry factor could be substantially less than
100%.
[0053] Flowing to block 508, gender and age factors are generated,
which are based at least in part on historical and previously collected
information from relatively large populations. The gender and age
factors typically reflect statistical probabilities regarding potential
claims over a given year for a particular gender at a particular
age.
[0054] Advancing to block 510, the process randomly generates a
family factor which is representative of the number of entity employee's
with families. The process moves to block 512 where the generated
factors are provided to each team/player. In one embodiment, the
generated factors are provided prior to the teams/players bidding
on a premium for a round, and in other embodiments the factors are
provided after the bidding is done.
[0055] Moving to block 514, claims for the round are generated
based at least in part on the generated factors for the entity.
Next, the process returns to performing other actions.
[0056] FIG. 6 illustrates a flow chart of process 600 for determining
a winner for playing a round of the game. Moving from a start block,
the process flows to block 602 where the teams/players select/provide
a bid for a premium to provide insurance coverage to the entity
for a round. At block 604, the bids for the premiums are compared
to each other.
[0057] Advancing to block 606, the ranking of each company is displayed
based on the amount of their bid for the premium. Moving to block
608, the winning company for the round and its lowest bid for the
premium is identified. Although not shown, the gain or loss generated
by the lowest bid premium is added to the winner's asset reserve.
Next, the process returns to performing other actions.
Illustrative Interfaces
[0058] FIG. 7 illustrates an exemplary main user interface for
the video game application. As shown, the main user interface provides
a listing of each company and its respective name that is selected/provided
by a team/player. The user interface provides additional information,
including: an initial reserve (initial capitalization) for each
company; change in reserve for each company; enrollment gain for
each company; and an accumulated total reserve for each company.
Also, the main user interface provides navigation and other controls
such as "start over", "go", "next bid",
"instructions", and "team names".
[0059] FIG. 8 illustrates overview 800 of a graph for the cost
of a premium for insurance versus the amount of coverage provided
by the insurance. Graph line 802 illustrates the correspondence
between an increase in the value of a premium and the amount of
insurance coverage that can be provided to an entity. Although not
shown, embodiments of the game can include one or more controls
that enable a player to simulate the effect of changes in the amount
of insurance coverage or premium that is bid in a round.
[0060] Although the present invention has been described in the
context of a game application, the invention is not so limited.
For example, the invention may be applicable to virtually any interactive
software that employs logic and may provide differing results. Furthermore,
an application for implementing the game can be provided in different
ways, including, client-server, peer-to-peer, stand-alone, applet,
and the like.
[0061] It will be understood that each block of the flowchart illustrations,
and combinations of blocks in the flowcharts, may be implemented
by a combination of hardware-based systems and software instructions.
The software instructions may be executed by a processor to cause
a series of operational steps to be performed by the processor to
produce a computer-implemented process such that the instructions,
which execute on the processor, provide steps for implementing some
or all of the actions specified in the flowchart block or blocks.
[0062] Accordingly, blocks of the flowchart illustration support
combinations of means for performing the specified actions, combinations
of steps for performing the specified actions and program instruction
means for performing the specified actions. It will also be understood
that each block of the flowchart illustration, and combinations
of blocks in the flowchart illustration, can be implemented by special
purpose hardware-based systems, which perform the specified actions
or steps, or combinations of special purpose hardware and computer
instructions.
[0063] The various embodiments have been described above in light
of certain mathematical relationships. A person skilled in the art
would note that these mathematical relationships are subject to
many possible computer implementations, which are all within the
scope of the invention. Furthermore, it should be noted that the
language of mathematics allows many ways to convey the same relationship.
All such variations of the above described equations and relationships
are naturally within the scope of the invention.
[0064] The above specification, examples, and data provide illustrative
embodiments of the present invention. Since many embodiments of
the invention can be made without departing from the spirit and
scope of the invention, the invention resides in the claims hereinafter
appended. |