System and method for automated risk-based pricing of a vehicle warranty insurance policy
US6182048A · kind A · utility
Assignee
Inventors
Key dates
| Filing date | Nov 23, 1998 |
| Grant date | Jan 30, 2001 |
| Priority date | — |
| Expiry date | Nov 23, 2018 |
Classification
- Technology area (CPC G)Physics
- CPC primaryG06Q40/08
- WIPO fieldIT methods for management
- WIPO sectorElectrical engineering
Abstract
A system and method for automated risk-based pricing of a vehicle-warranty insurance policy. A vehicle warranty policy request input source receives a request for a vehicle warranty policy. A processor receives the request and uses analytical tools in conjunction with an environmental database, a vehicle database, and a historical database, to service the request. The processor generates a price, conditions and terms for the request using a risk-based pricing algorithm. A system operator reviews the price, conditions and terms and either accepts or rejects the policy request. The system operator also has the option to adjust the price, conditions and terms derived from the processor.
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.