Dynamic modeling and benchmarking for benefits plans
Abstract:
A method and apparatus for displaying group employee insurance information against benchmark information. Insurance profiles for business entities are retrieved from a data structure. A benchmark score corresponding to a benchmark category is generated for a current insurance profile of a selected business entity using the insurance profiles. The benchmark score indicates a portion of a selected premium for the current insurance profile that is paid by business entities that fall within the benchmark category. The current insurance profile is displayed in a graphical user interface on a display system. The benchmark score is displayed in association with the current insurance profile in the graphical user interface to aid a user in managing the employee insurance. Displaying the benchmark score in association with the insurance profile allows the user to more quickly and easily assess payment of the selected premium for the insurance profile in comparison to benchmark category.
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