Systems and methods for analyzing sensor data

• US 10,032,224 B2
• Filed: 03/18/2010
• Issued: 07/24/2018
• Est. Priority Date: 09/04/2003
• Status: Active Grant

• Current Assignee: Hartford Fire Insurance Company (The Hartford Financial Services Group, Inc.)
• Original Assignee: Hartford Fire Insurance Company (The Hartford Financial Services Group, Inc.)
• Inventors: Helitzer, Jonathan, Murchie, G. Stewart, Frey, Sr., Kelly L., Campbell, Casey Ellen, Carvalko, Jr., Joseph R.
• Primary Examiner(s): Austin, Jamie H
• Application Number:
  US12/726,884
• Publication Number:
  US 20100174566A1
• Time in Patent Office: 3,050 Days
• Field of Search: 705 4
• CPC Class Codes: G06Q 10/0635 Risk analysis of enterprise or organisation activities
• CPC Class Codes: G06Q 10/08 Logistics, e.g. warehousing, loading or distribution; Inventory or stock management
• CPC Class Codes: G06Q 40/08 Insurance
• CPC Class Codes: G16Z 99/00 Subject matter not provided for in other main groups of this subclass

Abstract

The invention herein generally pertains to underwriting an insurance policy utilizing sensors to detect, determine, measure and assess one or more conditions, states of affairs, physical properties and process as each relates an insurable property interest. More specifically is disclosed a method and computerized system for managing the underwriting, quoting and binding an insurance policy with regard to the technology used to militate against the financial consequences of certain property losses. The significance of operable safety related devices or system loads are important diagnostic safety markers for measuring one or more properties affecting the safety or risk aversion and for underwriting an insurable interest. This invention also relates to a system and a method for acquiring and assessing the qualities, variables and parameters that affect the underwriting premium for a building structure (commercial or residential), vehicle, aircraft, marine craft or cargo.

Claims

1. A computerized method of providing improved collection and processing, at a central location, of sensor data collected at properties remote from the central location, comprising:

providing a central server computer, at the central location, having electronic access to;

one or more data storage devices storing;

a plurality of business type classifications, wherein each business type classification represents a manner of use for a potentially insurable property;

a plurality of business type classification-specific underwriting guidelines; and

an association between each business type classification and a respective business type classification-specific underwriting guideline;

executing, by the central server computer, computer executable instructions stored on a computer readable medium, thereby causing the central server computer to;

obtain an association between each of the remote properties and one of the stored business type classifications;

automatically initiate a polling process, including communicating with, and receiving an acknowledgment from, a controller at each of the remote properties, each of the controllers having a corresponding digital address unique to the corresponding remote property;

responsive to receipt of the acknowledgment, transmitting a start code, to cause the controller at each of the remote properties to, responsive to receipt of the start code, initiate a sampling of data collected by the sensors regarding the remote property, the collected sensor data comprising measurements of one or more of a condition, state of affairs, physical property or assessment of the remote property;

access one or more factors associated with the one of the stored business type classifications associated with the remote property;

determine a value of a risk modifier based at least in part on applying the one or more factors to the collected sensor data, thereby determining the value of the risk modifier dependent at least in part on the one of the stored business type classifications associated with the remote property, and further based in part on acquisition of sensor data and values of the acquired sensor data;

calculate a premium for an insurance policy for the remote property based at least in part on the risk modifier; and

transmit to a user device for display data including at least the calculated premium.

2. The computerized method of claim 1, wherein the business type classification indicates an industry in which the property is used.

3. The computerized method of claim 1, wherein the collected sensor data comprises data indicating the condition of the property.

4. The computerized method of claim 1, wherein the collected sensor data comprises data indicating usage of technology incorporated into the property.

5. The computerized method of claim 1, wherein the property comprises goods.

6. The computerized method of claim 1, wherein the property comprises a building.

7. The computerized method of claim 1, wherein the property is determined to be uninsurable based at least in part on the collected sensor data.

8. The computerized method of claim 1, wherein the property is determined to be insurable based at least in part on the collected sensor data.

9. The computerized method of claim 1, wherein calculating the premium includes combining a first premium component derived from the collected sensor data with a second premium component determined based on data generic to the insured property.

10. The method of claim 1, wherein the accessed sensor data comprises data indicative of a degree of conformity with a prescribed level of risk mitigation.

11. The method of claim 10, wherein the determining the value of the risk modifier is based in part on the data indicative of the degree of conformity with the prescribed level of risk mitigation.

12. The method of claim 1, wherein the accessed sensor data comprises data indicative of a quality of the sensor data.

13. The method of claim 12, wherein the determining the value of the risk modifier is based in part on the data indicative of the quality of the sensor data.

14. The method of claim 1, wherein the business type classification is an SIC code.

15. A computer system providing improved collection and processing of sensor data at a central location collected at properties remote from the central location comprising:

a central server computer at the central location having electronic access to;

a plurality of business type classifications, wherein each business type classification represents a manner of use for a potentially insurable property;

a plurality of business type classification-specific underwriting guidelines;

an association between each business type classification and a respective business type classification-specific underwriting guideline;

computer executable instructions stored on a computer readable medium, which when executed cause the central server computer to;

obtain an association between each of the remote properties and one of the business type classifications;

initiate a polling process, including automatically communicating with, and receiving an acknowledgment from, a controller at each of the remote properties, each of the controllers having a corresponding digital address unique to the corresponding remote property;

responsive to receipt of the acknowledgment, transmitting a start code, to cause the controller at each of the remote properties to, responsive to receipt of the start code, automatically initiate a sampling of data collected by the sensors regarding the remote property, the collected sensor data comprising measurements of one or more of a condition, state of affairs, physical property or assessment of the remote property;

access one or more factors associated with the one of the business type classifications associated with the remote property;

determine a value of a risk modifier based at least in part on applying the one or more factors to the collected sensor data, thereby determining the value of the risk modifier dependent at least in part on the one of the stored business type classifications associated with the property and further based in part on acquisition of sensor data and values of the acquired sensor data;

calculate a premium for an insurance policy for the property based at least in part on the value of the risk modifier; and

transmit to a user device for display data including at least the calculated premium.

16. The system of claim 15, wherein the business type classification indicates an industry in which the property is used.

17. The system of claim 15, wherein the collected sensor data comprises data indicating the condition of the property.

18. The system of claim 15, wherein the collected sensor data comprises data indicating usage of technology incorporated into the property.

19. The system of claim 15, wherein the property comprises goods.

20. The system of claim 15, wherein the property comprises a building.

21. The system of claim 15, wherein the property is determined to be uninsurable based at least in part on the collected sensor data.

22. The system of claim 15, wherein the property is determined to be insurable based at least in part on the collected sensor data.

23. The system of claim 15, wherein calculating the premium includes combining a first premium component derived from the collected sensor data with a second premium component determined based on data generic to the insured property.

24. The system of claim 15, comprising a server in communication with the computer configured to collect the sensor data regarding the property.

25. The system of claim 15, further comprising a communication device in communication with the computer, the communication device configured for real time polling of the sensors;

and

a second system comprising a plurality of terminals, each of the terminals comprising a central processing unit, display, memory and input devices, each of the terminals independently in communication with the system, the second system further comprising a database server storing underwriting data.

26. The system of claim 15, wherein the business type classification is an SIC code.

27. A non-transitory computer readable storage medium storing computer executable instructions, which when executed by a computer at a central location cause the computer to carry out a method providing improved collection and processing of sensor data collected at properties remote from the central location, comprising:

electronically accessing a database at the central location that stores;

a plurality of business type classifications, wherein each business type classification represents a manner of use for a potentially insurable property;

a plurality of business type classification-specific underwriting guidelines; and

an association between each business type classification and a respective business type classification-specific underwriting guideline;

obtaining an association between each of the remote properties and one of the stored business type classifications;

initiating a polling process, including communicating with, and receiving an acknowledgment from, a controller at each of the remote properties, each of the controllers having a corresponding digital address unique to the corresponding remote property;

responsive to receipt of the acknowledgment, transmitting a start code, to cause the controller at each of the remote properties to initiate a sampling of collected sensor data regarding the remote property, the collected sensor data comprising measurements of one or more of a condition, state of affairs, physical property or assessment of the remote property;

accessing one or more factors associated with the one of the stored business type classifications associated with the remote property;

determining a value of a risk modifier based at least in part on applying the one or more factors to the collected sensor data, thereby determining the value of the risk modifier dependent at least in part on the one of the stored business type classifications associated with the remote property and further based in part on acquisition of sensor data and values of the acquired sensor data;

calculating a premium for an insurance policy for the remote property based at least in part on sensor data collected regarding the remote property, wherein an effect of the collected sensor data on the calculating of the premium is determined based on the business type classification associated with the remote property; and

transmitting to a user device for display data including at least the calculated premium.

28. The non-transitory computer readable storage medium of claim 27, wherein the collected sensor data comprises data indicating the condition of the property.

29. The non-transitory computer readable storage medium of claim 27, wherein the collected sensor data comprises data indicating usage of technology incorporated into the property.

30. The non-transitory computer readable storage medium of claim 27, wherein the business type classification is an SIC code.