SYSTEM AND METHOD FOR INSURANCE UNDERWRITING AND RATING
First Claim
Patent Images
1. A method of underwriting an insurance policy comprising:
- identifying a vehicle;
forming at least one data grouping including at least one vehicle history data variable of the identified vehicle;
processing the at least one vehicle history data variable of the at least one data grouping;
determining an overall value of said at least one data grouping; and
underwriting an insurance policy for the identified vehicle based on said overall value of the at least one data grouping.
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Abstract
An apparatus and method for underwriting and/or rating an insurance policy, and for generating information for underwriting and/or rating an insurance policy, are provided. The system and method may include identifying a vehicle, determining a value of at least one vehicle history data variable or a group of variables, and underwriting and/or rating the policy based on the value of the at least one vehicle history data variable or a group of variables. The system and method may also include generating a score based on the value of the at least one vehicle history data variable or group of variables.
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Citations
97 Claims
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1. A method of underwriting an insurance policy comprising:
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identifying a vehicle; forming at least one data grouping including at least one vehicle history data variable of the identified vehicle; processing the at least one vehicle history data variable of the at least one data grouping; determining an overall value of said at least one data grouping; and underwriting an insurance policy for the identified vehicle based on said overall value of the at least one data grouping. - 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 of rating an insurance policy comprising:
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identifying a vehicle; forming at least one data grouping including of least one vehicle history data variable of the identified vehicle; processing the at least one vehicle history data variable of the at least one data grouping; determining an overall value of said at least one data grouping; and rating an insurance policy for the identified vehicle based on said overall value of the at least one data grouping. - View Dependent Claims (19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30)
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31. A method of determining insurability of a vehicle comprising:
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identifying a vehicle; forming at least one data grouping including at least one vehicle history data variable of the identified vehicle; processing the at least one vehicle history data variable of the at least one data grouping; determining an overall value of said at least one data grouping; and calculating insurability of the identified vehicle based on said overall value of the at least one data grouping. - View Dependent Claims (32, 33, 34, 35, 36, 37, 38, 39, 40, 41, 42, 43, 44, 45, 46, 47)
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48. An apparatus for underwriting an insurance policy comprising:
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means for identifying a vehicle; means for forming at least one data grouping including at least one vehicle history data variable of the identified vehicle; means for processing the at least one vehicle history data variable of the at least one data grouping; means for determining an overall value of said at least one data grouping; and means for underwriting an insurance policy for the identified vehicle based on said overall value of the at least one data grouping. - View Dependent Claims (49, 50, 51, 52, 53, 54, 55, 56, 57, 58, 59, 60, 61, 62, 63, 64, 95)
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65. An apparatus for rating an insurance policy comprising:
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means for identifying a vehicle; means for forming at least one data grouping including of least one vehicle history data variable of the identified vehicle; means for processing the at least one vehicle history data variable of the at least one data grouping; means for determining an overall value of said at least one data grouping; and means for rating an insurance policy for the identified vehicle based on said overall value of the at least one data grouping. - View Dependent Claims (66, 67, 68, 69, 70, 71, 72, 73, 74, 75, 76, 77, 96)
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78. An apparatus for determining insurability of a vehicle comprising:
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means for identifying a vehicle; means for forming at least one data grouping including at least one vehicle history data variable of the identified vehicle; means for processing the at least one vehicle history data variable of the at least one data grouping; means for determining an overall value of said at least one data grouping; and means for calculating insurability of the identified vehicle based on said overall value of the at least one data grouping. - View Dependent Claims (79, 80, 81, 82, 83, 84, 85, 86, 87, 88, 89, 90, 91, 92, 93, 94, 97)
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Specification