REAL-TIME INSURANCE POLICY UNDERWRITING AND RISK MANAGEMENT

Provided is a technique for evaluating risk associated with underwriting an insurance policy (figure 1). At least one location to be covered under the insurance policy is received (figure 3, block 320). Risk associated with the location is automatically assessed (figure 3, block 338). It is determin...

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Main Authors JENKINS, ANTHONY P, WAYMAN, JARED P, TRIVELPIECE, CRAIG E, MIHALICH, JOSEPH, DYRNAES, DAVID N, GOODWIN, JONATHAN D, VON KAENEL, TIM A, KUMAR, C. SURESH
Format Patent
LanguageEnglish
French
Published 15.07.2004
Edition7
Subjects
CALCULATING
COMPUTING
COUNTING
DATA PROCESSING SYSTEMS OR METHODS, SPECIALLY ADAPTED FORADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL, SUPERVISORYOR FORECASTING PURPOSES
ELECTRIC DIGITAL DATA PROCESSING
PHYSICS
SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE,COMMERCIAL, FINANCIAL, MANAGERIAL, SUPERVISORY OR FORECASTINGPURPOSES, NOT OTHERWISE PROVIDED FOR
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Summary:Provided is a technique for evaluating risk associated with underwriting an insurance policy (figure 1). At least one location to be covered under the insurance policy is received (figure 3, block 320). Risk associated with the location is automatically assessed (figure 3, block 338). It is determined whether to underwrite the location based on the assessed risk (figure 3, blo ck 340). Also provided is a technique for proximity analysis (figure 54). Selection of a proximity center is received (figure 55). A function is executed with the proximity center to determine target data items that fall within a proximity area around the proximity center. The target data items a re spatially represented.
Bibliography:Application Number: CA20032510111