Patent Issued for Integrated graphical user interface for separate service levels of a financial planning system (USPTO 11720956): Empower Annuity Insurance Company of America

2023 AUG 29 (NewsRx) -- By a News Reporter-Staff News Editor at Insurance Daily News -- Empower Annuity Insurance Company of America (Greenwood Village, Colorado, United States) has been issued patent number 11720956, according to news reporting originating out of Alexandria, Virginia, by NewsRx editors.

The patent’s inventors are Hersch, Jeremy (Greenwood Village, CO, US), Hough, Sean (Thornton, CO, US), O’Connell, Paul (Wilmington, MA, US), Probetts, Daryl (Highlands Ranch, CO, US).

This patent was filed on May 21, 2019 and was published online on August 8, 2023.

From the background information supplied by the inventors, news correspondents obtained the following quote: “The disclosure relates generally to account management, and more specifically to, a user interface for manipulating account projections based on financial data captured and aggregated from multiple sources.

“Increasingly, individuals are responsible for managing their own personal retirement accounts, which may be supplemented by employer contributions. Individual accountholders may be ill-equipped to optimize retirement accounts, as the lengthy term of the account increases sensitivity to asset allocation, contribution strategies, withdraw strategies, and changes in supplemental retirement benefits. For example, market conditions and/or a projected retirement date may require specific adjustments to the asset allocation of the account. Additionally, contribution and withdrawal policies may change. For example, taxes may be adjusted or assessed differently from year to year. As a result, many participants in financial plans, such as employer-provided 401(k) plans, would benefit from enrollment in a financial planning system that provides enhanced service, such as improved recommendations and visualization tools. However, at least some known financial planning systems, in attempting to provide a more sophisticated set of tools for the user, present a dramatically different and/or more complex user interface as compared to the basic 401(k) plan management interface to which many users are accustomed. As a result, many ordinary participants may be dissuaded from enrolling in, or continuing to stay enrolled in, such enhanced services.

“Moreover, at least some known conventional on-line financial planning systems generate a large number of recommendations that overwhelm the ordinary user, and/or recommendations that are too complex for the ordinary user to grasp, and/or recommendations that result in changes that appear extreme to the ordinary user. As a result, financial planning participants using such known systems may be unable or unwilling to take steps to improve their income in retirement.”

Supplementing the background information on this patent, NewsRx reporters also obtained the inventors’ summary information for this patent: “The following detailed description illustrates embodiments of the disclosure by way of example and not by way of limitation. The description enables one skilled in the art to make and use the disclosure. It also describes several embodiments, adaptations, variations, alternatives, and uses of the disclosure, including what is presently believed to be the best mode of carrying out the disclosure.

“The systems and methods of the disclosure facilitate generating account projections based on financial data captured and aggregated from multiple sources, and alerting accountholders in response to changes in the account projection.

“A GUI computer system for providing a graphical user interface (GUI) is provided. The GUI computer system is in communication with at least one planning engine. The planning engine includes multiple optimization modules for planning significant personal economic events (e.g., investment, savings, retirement). The GUI computer system is configured to capture and centrally store user profile data, including the financial data used by the optimization modules, such as the composition of investment accounts (e.g., employer-provided 401(k) plans). The planning engine is configured to retrieve additional financial data from multiple external data sources, such as asset return projections. Additionally, the GUI computer system may be configured to provide a web interface to capture financial data from the user. For example, the GUI computer system may provide a HTTP API or an interactive web application through which the user can enter data. Additionally, the GUI computer system may be configured to cause the GUI to be displayed by an application installed on a mobile device of a user.

“The planning engine is configured to generate account projections in response to captured financial data. In some embodiments, the planning engine generates account projections (e.g., in near-real-time) based on updated financial data retrieved from the external data sources (e.g., third-party banking institutions, investment institutions) and/or from the user interface. For example, a deferral optimization module generates an updated account projection based on changes in employer contribution formulas, maximum contribution formulas, effective tax rates, current contribution rates, account allocation, project return data, and the like.

“In certain embodiments, the GUI computer system provides basic or introductory-level services for an existing retirement account. For example, the retirement account is associated with a 401(k) or similar plan provided by an employer, and the GUI computer system provides a default user interface to employees to allow each employee to monitor performance and/or update basic data regarding the account. In addition, the GUI computer system provides an option to register for enhanced services, such as a financial advisor program that integrates other accounts and benefits of the user into a unified retirement income analysis and planning system. For users who register for the enhanced services, the GUI computer system maintains and builds upon the graphical GUI associated with the introductory-level services, adding additional functionality and features in order to provide a familiar and streamlined user experience to users who register, thus reducing barriers to user enrollment for the enhanced service level. In some such embodiments, the planning engine includes a first planning engine configured to receive calls from the GUI and provide financial projections for the basic or default service level, and a second planning engine configured to receive calls from the GUI and provide financial projections and recommendations for the enhanced service level. Alternatively, a single planning engine interfaces with the GUI for both service levels.”

The claims supplied by the inventors are:

“1. A computer-implemented method comprising: determining a service level of a user in response to a log-in by the user; and presenting a page of a graphical user interface (GUI) to the user, wherein, when the service level of the user is a first service level, presenting the page of the GUI includes: presenting a top level menu in a first location and in a first format; presenting a first projected outcome for the user, the first projected outcome generated by a first engine based on a first set of data fields of a user profile of the user, the first engine in communication with the GUI via a first API, and wherein, when the service level of the user is a second service level, presenting the page of the GUI includes: presenting the top level menu in the first location and in the first format; presenting a second projected outcome for the user, the second projected outcome generated by a second engine based on each of the first set of data fields and a second set of data fields of the user profile such that the second engine, the second engine in communication with the GUI via a second API different than the first API, and wherein the GUI includes an interactive control configured to be manipulated by the user to provide modified values for the user profile and the GUI is configured to transmit the modified values through an API to update the user profile.

“2. The computer-implemented method of claim 1, wherein, when the service level for the user is the first service level, presenting the page of the GUI further includes presenting a link to a portion of the GUI for enrolling in the second service level.

“3. The computer-implemented method of claim 1, wherein, when the service level for the user is the second service level, presenting the page of the GUI further includes presenting a link to a dashboard of the GUI for accessing additional services available at the second service level but not at the first service level.

“4. The computer-implemented method of claim 1, wherein: when the service level for the user is the first service level, presenting the page of the GUI further includes presenting a first link to a portion of the GUI for enrolling in the second service level, when the service level for the user is the second service level, presenting the page of the GUI further includes presenting a second link to a dashboard of the GUI for accessing additional services available at the second service level but not at the first service level, and the first link and the second link are presented in substantially the same location of the page of the GUI.

“5. The computer-implemented method of claim 1 further comprising generating an alert in response to the first projected outcome or the second projected outcome does not satisfy a stored goal of the user.

“6. The computer-implemented method of claim 1, wherein presenting the page of the GUI when the service level of the user is either the first service level or the second service level includes: presenting a graphical control corresponding to recommendation data generated by the first planning engine or the second planning engine, the graphical control is controlled to initially be displayed at a recommended starting position according to the recommendation data and further controlled to be updated based upon receipt of user input data at the at least one graphical control, and presenting a current value corresponding to a current position of the graphical control.

“7. The computer-implemented method of claim 1, wherein the first projected outcome and the second projected outcome are each estimated retirement incomes.

“8. A graphical user interface (GUI) comprising: a page configured to dynamically modify in response to the GUI determining a service level of a user, wherein: when the GUI determines a service level of a user is a first service level, the page is configured to present the top level menu in a first location and in a first format and to present a first projected outcome for the user, the first projected outcome generated by a first engine based on a first set of data fields of a user profile of the user, the first engine in communication with the GUI via a first API, and when the GUI determines the service level of the user is a second service level, the page is configured to present the top level menu in the first location and in the first format and to present a second projected outcome for the user, the second projected outcome generated by a second engine based on each of the first set of data fields and a second set of data fields of the user profile such that the second engine, the second engine in communication with the GUI via a second API different than the first API; and an interactive control configured to be manipulated by the user to provide modified values for the user profile, wherein the GUI is configured to transmit the modified values through an API to update the user profile.

“9. The GUI of claim 8, wherein, when the service level for the user is the first service level, the page is configured to present a link to a portion of the GUI for enrolling in the second service level.

“10. The GUI of claim 8, wherein, when the service level for the user is the second service level, the page is configured to present a link to a dashboard of the GUI for accessing additional services available at the second service level but not at the first service level.

“11. The GUI of claim 8, wherein: when the service level for the user is the first service level, the page is configured to present a first link to a portion of the GUI for enrolling in the second service level, when the service level for the user is the second service level, the page is configured to present a second link to a dashboard of the GUI for accessing additional services available at the second service level but not at the first service level, and the page is configured to present first link and the second link are presented in substantially the same location of the page.

“12. The GUI of claim 8, wherein the GUI is further configured to generate an alert in response to the first projected outcome or the second projected outcome not satisfying a stored goal of the user.

“13. The GUI of claim 8, wherein, when the service level of the user is either the first service level or the second service level, the page is configured to: present a graphical control corresponding to recommendation data generated by the first planning engine or the second planning engine, the graphical control configured to initially be displayed at a recommended starting position according to the recommendation data and further configured to be updated based upon receipt of user input data at the at least one graphical control, and present a current value corresponding to a current position of the graphical control.

“14. The GUI of claim 8, wherein the first projected outcome and the second projected outcome are each estimated retirement incomes.

“15. At least one non-transitory computer-readable storage media that includes computer-executable instructions that, when executed by the at least one processor, cause the at least one processor to: determine a service level of a user in response to a log-in by the user; and present a page of a graphical user interface (GUI) to the user, wherein, when the service level of the user is a first service level, the instructions cause the at least one processor to present the page of the GUI by: presenting a top level menu in a first location and in a first format; presenting a first projected outcome for the user, the first projected outcome generated by a first engine based on a first set of data fields of a user profile of the user, the first engine in communication with the GUI via first API, wherein, when the service level of the user is a second service level, the instructions cause the at least one processor to present the page of the GUI by: presenting the top level menu in the first location and in the first format; presenting a second projected outcome for the user, the second projected outcome generated by a second engine based on each of the first set of data fields and a second set of data fields of the user profile such that the second engine, the second engine in communication with the GUI via a second API different than the first API, and wherein the GUI further includes an interactive control configured to be manipulated by the user to provide modified values for the user profile and the GUI is configured to transmit the modified values through an API to update the user profile.

“16. The at least one non-transitory computer-readable storage media of claim 15, wherein, when the service level for the user is the first service level, the instructions cause the at least one processor to present a link to a portion of the GUI for enrolling in the second service level on the page of the GUI.

“17. The at least one non-transitory computer-readable storage media of claim 15, wherein, when the service level for the user is the first service level, the instructions cause the at least one processor to present a link to a dashboard of the GUI for accessing additional services available at the second service level but not at the first service level on the page of the GUI.”

There are additional claims. Please visit full patent to read further.

For the URL and additional information on this patent, see: Hersch, Jeremy. Integrated graphical user interface for separate service levels of a financial planning system. U.S. Patent Number 11720956, filed May 21, 2019, and published online on August 8, 2023. Patent URL (for desktop use only): https://ppubs.uspto.gov/pubwebapp/external.html?q=(11720956)&db=USPAT&type=ids

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