System and method for insurance underwriting and rating

US8255243B2 · kind B2 · utility

Assignee

• Carfax, Inc. · US

Inventors

• Richard Raines · Arlington, US
• Eric Nesson · Falls Church, US
• David Lackey · Centreville, US
• Travis Fritts · Columbia, US
• Ian Bush · Round Hill, US

Key dates

• Filing date: Jul 13, 2011
• Grant date: Aug 28, 2012
• Expiry date: Jul 13, 2031

Classification

• Technology area (CPC G): Physics
• CPC primary: G06Q30/0278
• WIPO field: IT methods for management
• WIPO sector: Electrical engineering

Abstract

An apparatus and method for underwriting and/or rating an insurance policy, and for generating information for underwriting and/or rating an insurance policy, are provided. The system and method may include identifying a vehicle, determining a value of at least one vehicle history data variable or a group of variables, and underwriting and/or rating the policy based on the value of the at least one vehicle history data variable or a group of variables. The system and method may also include generating a score based on the value of the at least one vehicle history data variable or group of variables.