Systems and methods for qualifying expected loss due to contingent destructive human activities
First Claim
1. A method for establishing an insurance premium usable to insure against risk to a property due to terrorist activities, comprising:
- providing expert data, the expert data containing information regarding a possible attack from a terrorist group on the property;
determining a plurality of variables based on the provided expert data, each variable characterizes an aspect of one of the possible attack and the property;
formulating a hierarchy in which the plurality of variables are interconnected based on the provided expert data;
determining a state for each of the plurality of variables based on the formulated hierarchy and the provided expert data;
generating a model regarding the possible attack based on the determined states of the plurality of variables and the provided expert data;
assessing risks of the property under the possible attack by the terrorist group based on the generated model; and
establishing the insurance premium for the property based on the assessed risks.
1 Assignment
0 Petitions
Accused Products
Abstract
Systems and methods allow a user to specify states of influence variables with information from an expert system to perform assessment regarding probable damages caused by a terrorist attack to a property to which insurance premiums are to be established. The expert system provides information based on knowledge of terrorists, including their goals, methods, organization and financial structure. The systems and methods use quality information to establish a relevant set of variables and to subjectively define the probabilistic influences of the defined variables on the likelihood of attack and levels of damage.
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Citations
21 Claims
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1. A method for establishing an insurance premium usable to insure against risk to a property due to terrorist activities, comprising:
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providing expert data, the expert data containing information regarding a possible attack from a terrorist group on the property;
determining a plurality of variables based on the provided expert data, each variable characterizes an aspect of one of the possible attack and the property;
formulating a hierarchy in which the plurality of variables are interconnected based on the provided expert data;
determining a state for each of the plurality of variables based on the formulated hierarchy and the provided expert data;
generating a model regarding the possible attack based on the determined states of the plurality of variables and the provided expert data;
assessing risks of the property under the possible attack by the terrorist group based on the generated model; and
establishing the insurance premium for the property based on the assessed risks. - View Dependent Claims (2, 3, 4, 5, 6, 7)
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8. A computer storage medium having executable software code for establishing an insurance premium usable to insure against risk to a property due to terrorist activities, the executable software code including:
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instructions for providing expert data, the expert data containing information regarding a possible attack from a terrorist group on the property;
instructions for determining a plurality of variables based on the provided expert data, each variable characterizes an aspect of one of the possible attack and the property;
instructions for formulating a hierarchy in which the plurality of variables are interconnected based on the provided expert data;
instructions for determining a state for each of the plurality of variables based on the formulated hierarchy and the provided expert data;
instructions for generating a model regarding the possible attack based on the determined states of the plurality of variables and the provided expert data;
instructions for assessing risks of the property under the possible attack by the terrorist group based on the generated model; and
instructions for establishing the insurance premium for the property based on the assessed risks. - View Dependent Claims (9, 10, 11, 12, 13, 14)
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15. A system for establishing an insurance premium usable to insure against risks to a property due to terrorist activities, comprising:
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a database storing expert data, the expert data containing information regarding a possible attack from a terrorist group on the property;
an influence determining circuit, routine or application that determines a plurality of variables based on the provided expert data, each variable characterizes an aspect of one of the possible attack and the property;
a hierarchy formulating circuit, routine or application that formulates a hierarchy in which the plurality of variables are interconnected based on the provided expert data;
a state defining circuit, routine or application that determines a state for each of the plurality of variables based on the formulated hierarchy and the provided expert data;
a model creating circuit, routine or application that generates a model regarding the possible attack based on the determined states of the plurality of variables and the provided expert data;
an analyzing circuit, routine or application that establishes the insurance premium for the property under the possible attack by the terrorist group based on the generated model; and
a display generating circuit, routine or application that displays analyzed results. - View Dependent Claims (16, 17, 18, 19, 20, 21)
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Specification