METHOD AND SYSTEM FOR PROJECTING CATASTROPHE EXPOSURE
First Claim
1. A method for reporting catastrophe exposure of an insurance company having a plurality of policyholders caused by an event comprising the steps of:
- selecting a loss event to be assessed;
modeling the event using a computer to create a projected damage area;
identifying locations of policyholders of the insurance company located in the projected damage area; and
reporting information about the policyholders in the projected damage area.
1 Assignment
0 Petitions
Accused Products
Abstract
A web-based application for an insurance carrier that combines national account information and detailed insurance policy information with catastrophe modeling technology. As an event occurs, the modeling technology determines a projected damage area that the event will cause. The insurance carrier can cross-reference that information with its account and policy information. In a short time, the insurance carrier can generate the following catastrophe exposure data: (1) summary reports indicating the projected number of damaged locations for each account; (2) maps and graphs of each account'"'"'s affected locations that provide a visual image of the epicenter and the concentration of the losses; and (3) tables with detailed property location information. After receiving this data, the insurance carrier can secure the services of independent adjusters and assign other resources according to the scope and magnitude of the projected loss.
47 Citations
9 Claims
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1. A method for reporting catastrophe exposure of an insurance company having a plurality of policyholders caused by an event comprising the steps of:
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selecting a loss event to be assessed; modeling the event using a computer to create a projected damage area; identifying locations of policyholders of the insurance company located in the projected damage area; and reporting information about the policyholders in the projected damage area. - View Dependent Claims (2, 3, 4, 5)
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6. A system for reporting catastrophe exposure of an insurance company having a plurality of policyholders caused by an event comprising:
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a modeling tool for modeling the event to create a projected damage area; a data-processing tool for identifying policyholders of the insurance company located in the projected damage area; a data-reporting tool for generating information concerning the policyholders of the insurance company located in the projected damage area; and a user interface for operating the system. - View Dependent Claims (7, 8, 9)
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Specification