System for optimization of insurance underwriting suitable for use by an automated system
First Claim
1. A system for optimizing an insurance application underwriting decision for an insurance underwriting system, the system comprising:
- an input module for defining a process for the insurance application underwriting decision for the insurance underwriting system;
a processor module for performing a plurality of insurance application underwriting decisions by applying the process to a plurality of certified insurance applications, where each of the plurality of certified insurance applications comprises an insurance application for which a correct underwriting decision has already been made; and
a comparison module for comparing the correct underwriting decisions to the underwriting decisions performed by applying the process.
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Abstract
A robust system for automating the tuning and maintenance of decision-making systems is described. A configurable multi-stage mutation-based evolutionary algorithm optimally tunes the decision thresholds and internal parameters of fuzzy rule-based and case-based systems that decide the risk categories of insurance applications. The tunable parameters have a critical impact on the coverage and accuracy of decision-making, and a reliable method to optimally tune these parameters is critical to the quality of decision-making and maintainability of these systems.
197 Citations
48 Claims
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1. A system for optimizing an insurance application underwriting decision for an insurance underwriting system, the system comprising:
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an input module for defining a process for the insurance application underwriting decision for the insurance underwriting system;
a processor module for performing a plurality of insurance application underwriting decisions by applying the process to a plurality of certified insurance applications, where each of the plurality of certified insurance applications comprises an insurance application for which a correct underwriting decision has already been made; and
a comparison module for comparing the correct underwriting decisions to the underwriting decisions performed by applying the process. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12)
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13. A system for optimizing an insurance application underwriting decision based on a plurality of predetermined underwriting rules for an insurance underwriting system, the system comprising:
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an input module for defining the plurality of underwriting rules for the insurance underwriting system;
a processor module for performing a plurality of insurance application underwriting decisions by applying the plurality of rules to a plurality of certified insurance applications, where each of the plurality of certified insurance applications comprises an insurance application for which a correct underwriting decision has already been made;
a comparison module for comparing the correct underwriting decisions and the underwriting decisions performed by applying the plurality of rules;
a penalty module for generating at least one penalty based on the comparison of the correct underwriting decisions and the underwriting decisions performed by applying the plurality of rules; and
a redefinition module for redefining the plurality of underwriting rules based on the generated penalty and the comparison of the correct underwriting decisions and the underwriting decisions performed by applying the plurality of rules. - View Dependent Claims (14, 15, 16)
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17. A system for optimizing an insurance application underwriting decision based on an application comparison of an insurance application with at least one previously made insurance application underwriting decision for an insurance underwriting system, the system comprising:
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an input module for defining the application comparison for the insurance underwriting system;
a processor module for performing a plurality of insurance application underwriting decisions by applying the application comparison to a plurality of certified insurance applications, where each of the plurality of certified insurance applications comprises an insurance application for which a correct underwriting decision has already been made;
a comparison module for comparing the correct underwriting decisions and the underwriting decisions performed by applying the application comparison;
a penalty module for generating at least one penalty based on the comparison of the correct underwriting decisions and the underwriting decisions performed by applying the application comparison; and
a redefinition module for redefining the application comparison based on the generated penalty and the comparison of the correct underwriting decisions and the underwriting decisions performed by applying the application comparison. - View Dependent Claims (18, 19, 20)
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21. A system for optimizing a decision based on a plurality of predetermined rules for a decision system, the system comprising:
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an input module for defining the plurality of rules for the decision system;
a processor module for performing a plurality of decisions by applying the plurality of rules to a plurality of certified decisions, where each of the plurality of certified decisions comprises a decision for which a correct decision has already been made;
a comparison module for comparing the correct decisions to the decisions performed by applying the plurality of rules;
a penalty module for generating at least one penalty based on the comparison of the comparison of the underwriting decisions performed by applying the plurality of rules and the correct underwriting decision; and
a redefinition module for redefining the plurality of rules based on the generated penalty and the comparison of the correct decisions and the underwriting decisions performed by applying the plurality of rules. - View Dependent Claims (22, 23, 24)
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25. A system for optimizing an insurance application underwriting decision for an insurance underwriting system, the system comprising:
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means for defining a process for performing the insurance application underwriting decision for the insurance underwriting system;
means for performing a plurality of insurance application underwriting decisions by applying the process to a plurality of certified insurance applications, where each of the plurality of certified insurance applications comprises an insurance application for which a correct underwriting decision has already been made; and
means for comparing the correct underwriting decisions to the underwriting decisions performed by applying the process. - View Dependent Claims (26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36)
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37. A system for optimizing an insurance application underwriting decision based on a plurality of predetermined underwriting rules for an insurance underwriting system, the system comprising:
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means for defining the plurality of underwriting rules for the insurance underwriting system;
means for performing a plurality of insurance application underwriting decisions by applying the plurality of rules to a plurality of certified insurance applications, where each of the plurality of certified insurance applications comprises an insurance application for which a correct underwriting decision has already been made;
means for comparing the correct underwriting decisions and the underwriting decisions performed by applying the plurality of rules;
means for generating at least one penalty based on the comparison of the correct underwriting decisions and the underwriting decisions performed by applying the plurality of rules; and
means for redefining the plurality of underwriting rules based on the generated penalty and the comparison of the correct underwriting decisions and the underwriting decisions performed by applying the plurality of rules. - View Dependent Claims (38, 39, 40)
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41. A system for optimizing an insurance application underwriting decision based on an application comparison of an insurance application with at least one previously made insurance application underwriting decision for an insurance underwriting system, the system comprising:
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means for defining the application comparison for the insurance underwriting system;
means for performing a plurality of insurance application underwriting decisions by applying the application comparison to a plurality of certified insurance applications, where each of the plurality of certified insurance applications comprises an insurance application for which a correct underwriting decision has already been made;
means for comparing the correct underwriting decisions and the underwriting decisions performed by applying the application comparison;
means for generating at least one penalty based on the comparison of the correct underwriting decisions and the underwriting decisions performed by applying the application comparison; and
means for redefining the application comparison based on the generated penalty and the comparison of the correct underwriting decisions and the underwriting decisions performed by applying the application comparison. - View Dependent Claims (42, 43, 44)
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45. A system for optimizing a decision based on a plurality of predetermined rules for a decision system, the system comprising:
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means for defining the plurality of rules for the decision system;
means for performing a plurality of decisions by applying the plurality of rules to a plurality of certified decisions, where each of the plurality of certified decisions comprises a decision for which a correct decision has already been made;
means for comparing the correct decisions to the decisions performed by applying the plurality of rules;
means for generating at least one penalty based on the comparison of the underwriting decisions performed by applying the plurality of rules and the correct underwriting decision; and
means for redefining the plurality of rules based on the generated penalty and the comparison of the correct decisions and the underwriting decisions performed by applying the plurality of rules. - View Dependent Claims (46, 47, 48)
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Specification