Method, system, and service for quantifying network risk to price insurance premiums and bonds
First Claim
1. A method for determining financial loss related to performance of an internetwork, comprising:
- correlating input information regarding performance of an internetwork to operations of a financial entity; and
, translating said correlated input information into at least one operational risk for said financial entity, where said financial entity underwrites insurance premiums and bonds.
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Abstract
The invention broadly comprises a method for determining financial loss related to performance of an internetwork. The method correlates input information regarding performance of an internetwork to operations of a financial entity underwriting insurance premiums and bonds and translates the correlated input information into at least one operational risk for the entity. In some aspects, the internetwork is the Internet. The method gathers secondary external information other than directly from the internetwork, correlates the input and secondary external information, and translates the correlated input and secondary external information into at least one operational risk for the entity. For at least one subset and one peril, the method determines a spread in time and space of effects of the at least one anomaly and peril on the internetwork and on the at least one subset.
85 Citations
23 Claims
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1. A method for determining financial loss related to performance of an internetwork, comprising:
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correlating input information regarding performance of an internetwork to operations of a financial entity; and
,translating said correlated input information into at least one operational risk for said financial entity, where said financial entity underwrites insurance premiums and bonds. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17)
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18. A method for determining financial loss related to performance of the Internet, comprising:
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collecting, detecting, and characterizing input information regarding performance of an internetwork;
correlating said input information to operations of a financial entity, where said financial entity underwrites insurance premiums and bonds;
translating said correlated input information into at least one operational risk for said financial entity determining a spread in time and space of effects of at least one anomaly and said at least one peril in the Internet on the at least one subset of the Internet;
collating said plurality of known anomalies according to type and for each said type, computing a probability of occurrence, duration, and effects;
estimating probabilities of degradation or interruption of connectivity to a subset of nodes;
adding information regarding a transaction to compute transaction risk for a subset using a transaction a number of times;
estimating a cost to a subset of the Internet for at least one operational risk; and
,for an enterprise in an industry, estimating a number of policies to sell and a price at which to sell said number of policies to cover claims associated with said enterprise and provide a level of profit for said financial entity.
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19. A computer-based system for determining financial loss related to performance of an internetwork, comprising:
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means to correlate input information regarding performance of an internetwork to operations of a financial entity; and
,means to translate said correlated input information into at least one operational risk for said financial entity, where said financial entity underwrites insurance premiums and bonds and said means to correlate and means to translate are located in at least one specially-programmed general purpose computer. - View Dependent Claims (20, 21, 22, 23)
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Specification