Systems and methods for predictive data analysis
First Claim
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1. A system for analyzing data comprising:
- an input module for receiving a notice of loss corresponding to an insurance claim;
a database coupled to the input module for storing at least one parameter corresponding to a characteristic of the insurance claim;
a computerized predictive model for estimating a likelihood that a cost associated with the insurance claim will have a selected relationship with a threshold value based on the stored parameter; and
one or more processors for;
executing the computerized predictive model; and
processing the insurance claim based upon the likelihood estimated by the computerized predictive model.
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Abstract
The systems and methods herein generally pertain to the computation of a likelihood that an item with a given set of characteristics will exhibit a future trait. The system generally comprises an input module for receiving the set of characteristics, a database for storing parameters relating to the set of characteristics, a computerized predictive model for estimating the likelihood, a business logic processor for executing the predictive model, and a processor for processing the set of characteristics based on its predicted likelihood.
112 Citations
40 Claims
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1. A system for analyzing data comprising:
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an input module for receiving a notice of loss corresponding to an insurance claim; a database coupled to the input module for storing at least one parameter corresponding to a characteristic of the insurance claim; a computerized predictive model for estimating a likelihood that a cost associated with the insurance claim will have a selected relationship with a threshold value based on the stored parameter; and one or more processors for; executing the computerized predictive model; and processing the insurance claim based upon the likelihood estimated by the computerized predictive model. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21)
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22. A system for analyzing data comprising:
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an input module for receiving notices of loss for a plurality of insurance claims; a database coupled to the input module for storing at least one parameter corresponding to respective ones of the plurality of insurance claims; a computerized predictive model for estimating likelihoods that costs of respective insurance claims in the plurality of insurance claims will have a selected relationship to a threshold value based on the stored parameter; one or more processors for; executing the computerized predictive model; ranking each respective insurance claim in the plurality of insurance claims based on the respective likelihoods; and processing at least one insurance claim in the plurality of insurance claims based upon its respective ranking. - View Dependent Claims (23, 24, 25, 26, 27, 28)
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29. A method of administering an insurance claim comprising the steps of:
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receiving a notice of loss corresponding to the insurance claim; storing at least one parameter corresponding to a characteristic of the insurance claim in a database; using a computerized predictive model to estimate a likelihood that a cost of the insurance claim will be greater than a threshold value based on the stored parameter; and making a workflow determination for the insurance claim based upon the likelihood that the cost of the insurance claim will be greater than the threshold value. - View Dependent Claims (30, 31, 32, 33, 34)
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35. A method of administering a plurality of insurance claims comprising the steps of:
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receiving notices of loss for the plurality of insurance claims; storing a parameter corresponding to at least one characteristic of each respective insurance claim in a database; using a computerized predictive model to estimate a likelihood that the cost of respective insurance claims will be greater than a threshold value based on the stored parameter; ranking the insurance claims based on the likelihood that the cost of the respective insurance claims will be greater than the threshold value; and making a workflow determination for at least one insurance claim in the plurality of insurance claims based upon its respective ranking. - View Dependent Claims (36, 37, 38, 39, 40)
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Specification