Systems and methods for optimizing property risk ratings
US8046245B1 · kind B1 · utility
Assignee
Inventors
Key dates
| Filing date | Jun 22, 2010 |
| Grant date | Oct 25, 2011 |
| Priority date | — |
| Expiry date | Jun 22, 2030 |
Classification
- Technology area (CPC G)Physics
- CPC primaryG06Q40/08
- WIPO fieldIT methods for management
- WIPO sectorElectrical engineering
Abstract
Systems and methods provide optimized property risk ratings and, more particularly, optimized property risk ratings defined by evaluating ratings on a by peril basis. Systems and methods also price insurance products and underwrite insurance products using risk data that has been optimized on a by peril basis. A territory is subdivided into a plurality of regions determined in accordance with at least one predetermined factor. Loss costs representing historic costs for various insured perils are retrieved from a computerized database using a data processor. The loss costs are sorted on a per-peril basis for each of the regions using the data processor. Peril zones are created for each peril that represent related regions in which loss costs for a particular peril are roughly equivalent.
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.