System and method for computerized insurance rating

• US 20090150191A1
• Filed: 11/12/2008
• Published: 06/11/2009
• Est. Priority Date: 12/30/2003
• Status: Active Grant

• Current Assignee: Hartford Fire Insurance Company (The Hartford Financial Services Group, Inc.)
• Original Assignee: Hartford Fire Insurance Company (The Hartford Financial Services Group, Inc.)
• Inventors: Fiorilli, Leonard G., Roschelle, Perry M., Tran, Oai T., McKernan, Michael Robert
• Granted Patent: US 7,783,505 B2
• Time in Patent Office: Days
• US Class Current: 705/4
• CPC Class Codes: G06Q 10/10 Office automation; Time management
• CPC Class Codes: G06Q 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes
• CPC Class Codes: G06Q 40/08 Insurance

Abstract

The invention relates generally to a computer system and method for integrating insurance policy underwriting. In one aspect, it integrates an older legacy insurance policy generating system to on-line rating systems where users access the system through browsers. The computer system to perform the process of dynamically rating includes generating an input XML file of risk information that is sent to a web service and calculated in a calculation engine. The processed data is retrieved by the web service and transmitted as an XML file to a user interface that parses the rating information and displays the data.

Claims

1. An adaptive system for rating possible insurance risk comprising:

a user interface in electronic communication with a user computer for receiving risk information, said user interface in communication with a legacy computer system;

a web service in electronic communication with said legacy computer system for receiving said risk information, wherein said web service also being provided for transmitting rating information to said legacy computer system; and

a calculation engine comprised at least in part of one or more dynamic business logic rating spreadsheets in electronic communication with said web service for calculating said rating information;

said calculation engine transmitting said rating information to said web service, and said legacy system parsing said rating information for display on said user interface.

2. The system of claim 1, wherein the legacy computer system transmits said risk information as an input XML file.

3. The system of claim 2, wherein said web service provides said rating information to said legacy computer system as an output XML file.

4. The system of claim 3, further comprising a data repository in communication with said calculation engine for storing calculations for one or more rating spreadsheets.

5. The system of claim 4, further comprising said data repository in communication with said calculation engine for storing data for said rating spreadsheets.

6. The system of claim 5, wherein said rating spreadsheets are provided to said calculation engine via a communications bus.

7. The system of claim 6, wherein said legacy system has a plurality of rules for converting said user data into said input XML file.

8. The system of claim 7, wherein said web service dynamically maps data in said input XML file into said rating spreadsheet.

9. The system of claim 8, further comprising an upload interface for saving said rating spreadsheets into said data repository.

10. A computer implemented method for rating possible insurance risk, comprising the steps of:

receiving, via a user interface in electronic communication with a user computer, insurance risk information, wherein the user interface is in communication with a legacy computer system;

receiving, via a web service in electronic communication with the legacy computer system, the insurance risk information;

calculating, via a calculation engine in electronic communication with the web service, rating information;

transmitting, via the web service, rating information to the legacy computer system;

parsing, via the legacy computer system, the transmitted rating information; and

displaying, via the user interface, the rating information to the user.

11. The computer implemented method of claim 10, wherein the legacy system provides the insurance risk information to the web service as an input XML document.

12. The computer implemented method of claim 11, wherein the web service provides the rating information to the legacy computer system as an output XML document.

13. The computer implemented method of claim 12, further comprising the step of storing, via a data repository, calculations for rating spreadsheets.

14. The computer implemented method of claim 13, further comprising the step of storing, via the data repository, data for the rating spreadsheets.

15. The computer implemented method of claim 14, wherein the rating spreadsheets are provided to the calculation engine via a communications bus.

16. The computer implemented method of claim 15, wherein the legacy system has a plurality of rules for converting the user information into the input XML file.

17. The computer implemented method of claim 16, wherein the web service maps data in the input XML file into the rating spreadsheet.

18. The computer implemented method of claim 17, further comprising the step of storing, via an upload interface, the rating spreadsheets into the data repository.

19. A system for rating possible insurance risk comprising:

a user interface in electronic communication with a user computer for receiving risk information, said user interface in communication with a legacy computer system;

a web service in electronic communication with said legacy computer system for receiving said risk information, wherein said web service also being provided for transmitting rating information to said legacy computer system;

a calculation engine in electronic communication with said web service for calculating said rating information;

a data repository in communication with said calculation engine for storing calculations for rating spreadsheets, wherein said rating spreadsheets are provided to said calculation engine, and wherein said calculation engine transmits said rating information to said web service, and said legacy system parses said rating information for display on said user interface.