METHODS AND SYSTEMS FOR PROVIDING CUSTOMIZED RISK MITIGATION/RECOVERY TO AN INSURANCE CUSTOMER

• US 20110137685A1
• Filed: 09/07/2010
• Published: 06/09/2011
• Est. Priority Date: 09/04/2009
• Status: Active Grant

• Current Assignee: The Travelers Indemnity Company (The Travelers Cos., Inc.)
• Original Assignee: The Travelers Indemnity Company (The Travelers Cos., Inc.)
• Inventors: Berry, Lauren, Tracy, Joseph, Cornell, Scott
• Granted Patent: US 8,515,788 B2
• Time in Patent Office: Days
• US Class Current: 705/4
• CPC Class Codes: G06Q 40/08 Insurance

Abstract

A loss mitigation computer system includes a customer interface electronically receiving customer information data from a customer computer system via a communications network, a risk assessment computer processing module processing the customer information data and identifying at least one peril associated with the customer information data, a risk mitigation computer processing module generating at least one risk mitigation option based on the at least one peril and receiving customer selected risk mitigation options responsive to the generated at least one risk mitigation option from the customer computer system; and a customization computer processing module generating at least one of a calculated insurance premium, a current risk assessment, a future risk assessment, recommendations, and a gap analysis based on the received at least one customer selected risk mitigation option. Various alternative embodiments are also disclosed, including a computer implemented loss mitigation method and/or loss recovery system.

Claims

1. A loss mitigation computer system, comprising:

a customer interface electronically receiving customer information data from a customer computer system via a communications network;

a risk assessment computer processing module processing the customer information data and identifying at least one peril associated with the customer information data;

a risk mitigation computer processing module generating at least one risk mitigation option based on the at least one peril and receiving customer selected risk mitigation options responsive to the generated at least one risk mitigation option from the customer computer system; and

a customization computer processing module generating at least one of a calculated insurance premium, a current risk assessment, a future risk assessment, recommendations, and a gap analysis based on the received at least one customer selected risk mitigation option.

2. The loss mitigation computer system as recited in claim 1, further comprising a data collection interface electronically compiling additional data, and wherein the risk assessment computer processing module processes the additional data and identifies the at least one peril based on the customer information data and the additional data.

3. The loss mitigation computer system as recited in claim 2, wherein the additional data includes at least one of third-party data, loss experience data, resources available data, exposure data, interdependencies data, location and off-premise data, and transit data.

4. The loss mitigation computer system as recited in claim 1, wherein the risk assessment computer processing module includes predictive modeling.

5. The loss mitigation computer system as recited in claim 1, wherein the user interface includes at least two selectable configuration settings.

6. The loss mitigation computer system as recited in claim 5, wherein the at least two configuration settings include a self-selected setting and a system generated setting.

7. The loss mitigation computer system as recited in claim 6, wherein the at least one risk mitigation option is customized by the risk mitigation computer processing module based on the customer information data when the system generated setting is selected.

8. The loss mitigation computer system as recited in claim 6, wherein at least one of the at least one risk mitigation option is pre-selected by the risk mitigation computer processing module based on the customer information data when the system generated setting is selected.

9. The loss mitigation computer system as recited in claim 1, wherein the gap analysis includes recommended risk mitigation options.

10. The loss mitigation computer system as recited in claim 1, wherein the at least one risk mitigation option includes at least one of a mobile sting trailer, tracking, monitoring, a global positioning system, a radio frequency device, a telematics device and recovery services.

11. The loss mitigation computer system as recited in claim 1, wherein the customer information data includes at least one of type of business, product data, route data, and location data.

12. The loss mitigation computer system as recited in claim 1, wherein the at least one risk mitigation options includes at least one security, monitoring, predictive tools, prevention, training and education, tracking, protective hardware, back-up, and suggested routes.

13. The loss mitigation computer system as recited in claim 1, further comprising a loss recovery computer processing module processing and initiating at least one loss recovery mechanism.

14. A computer implemented method for mitigating loss, the method comprising:

electronically receiving customer information data via a communications network;

processing, by a computer, the customer information data and identifying at least one peril associated with the customer infoimation data;

generating, by a computer, at least one risk mitigation option based on the at least one peril and receiving customer selected risk mitigation options from the generated at least one risk mitigation option; and

generating, by a computer, at least one of a calculated insurance premium based on the received customer selected risk mitigation options and a gap analysis based on the received customer selected risk mitigation options.

15. The method for mitigating loss as recited in claim 14, further comprising a compiling, by a computer, additional data, and wherein the processing includes processing the additional data and identifying the at least one peril based on the customer information data and the additional data.

16. The method for mitigating loss as recited in claim 15, wherein the additional data includes at least one of third-party data, loss experience data, resources available data, exposure data, interdependencies data, location and off-premise data, and transit data.

17. The method for mitigating loss as recited in claim 16, wherein the computer user interface includes at least two selectable configuration settings.

18. The method for mitigating loss as recited in claim 17, wherein the at least two configuration settings include a self-selected setting and a system generated setting.

19. The method for mitigating loss as recited in claim 18, wherein the at least one risk mitigation option is customized based on the customer information data when the system generated setting is selected.

20. The method for mitigating loss as recited in claim 19, wherein the gap analysis includes recommended risk mitigation options.

21. The method for mitigating loss as recited in claim 14, further comprising applying, by a computer, predictive modeling in at least one of generating the at least one risk mitigation option, generating the calculated insurance premium based, and generating the gap analysis.

22. The method for mitigating loss as recited in claim 14, further comprising processing and initiating at least one loss recovery mechanism or loss recovery service.