Inter-arrival times triggered, probabilistic risk transfer system and a corresponding method thereof
US10949924B2 · kind B2 · utility
Assignee
Inventors
Key dates
| Filing date | May 12, 2017 |
| Grant date | Mar 16, 2021 |
| Priority date | — |
| Expiry date | Feb 14, 2039 |
Classification
- Technology area (CPC G)Physics
- CPC primaryG06N7/01
- WIPO fieldComputer technology
- WIPO sectorElectrical engineering
Abstract
An automated, inter-arrival-time-based system and method for automated prediction and exposure-signaling of associated, catastrophic risk-event driven or triggered risk-transfer systems, for low frequency catastrophic or operational risk events and automated risk-transfer. Risk-events are measured and assigned to a historic hazard set comprising event parameters for each assigned risk-event. Risk-exposed units and/or the automated risk-transfer systems are provided with corresponding risk-transfer parameters for automated risk-transfer and/or automated risk-event cover. An event loss set is based on the measured frequencies with associated losses of said risk-events of the hazard set, each of said risk-events creating a set specific loss. Time-stamps, based on an automatically and/or dynamically estimated distribution of corresponding inter-arrival times parameters, capture a waiting time between consecutive events of the period loss set. The waiting times measure the time intervals between two successive risk-events and capture peril specific temporal clustering and/or seasonal occurrence patterns.
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.