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Dynamic ratemaking for insurance

  • US 20020099596A1
  • Filed: 11/26/2001
  • Published: 07/25/2002
  • Est. Priority Date: 11/27/2000
  • Status: Abandoned Application
First Claim
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1. A method of dynamically determining a pricing rate for an insurance product, comprising:

  • (a) grouping demand for any of a plurality of products together into any of a plurality of market segments based on at least one of a plurality of pricing variables;

    (b) analyzing demand behavior of each market segment for consumer price sensitivity;

    (c) establishing a price associated with each analyzed market segment;

    (d) generating forecasts of demand for each analyzed market segment; and

    (e) optimizing a pricing rate of a specific product based on said generated forecasts of demand.

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