SYSTEM AND METHOD FOR IDENTIFYING AND EVALUATING NANOMATERIAL-RELATED RISK

• US 20110191125A1
• Filed: 02/14/2011
• Published: 08/04/2011
• Est. Priority Date: 11/20/2007
• Status: Abandoned Application

• 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: Patton, William Eugene
• Application Number:
  US13/026,924
• Publication Number:
  US 20110191125A1
• Time in Patent Office: Days
• US Class Current: 705/4
• CPC Class Codes: G06Q 40/08 Insurance
• CPC Class Codes: Y10S 977/70 Nanostructure

Abstract

A system, method, and processor-readable medium are provided for quantitatively evaluating risk associated with nanotechnology. An insurance company computing system obtains nanomaterial-related data from a variety of sources, including nanomaterial sensors such as differential mobility analyzers located on-site at an insured facility. The insurance computing system uses the obtained data and a computerized model to compute a risk score that is used in evaluating the insurability of the facility or the operating entity. An insurance policy or modifications to an existing insurance premium are subsequently produced based on the computed risk score.

Claims

1. A system for determining an insurance evaluation of an entity, the system comprising:

a memory;

a computerized model stored on the memory; and

a processor configured to;

retrieve from memory data related to an insurance risk of an entity, the retrieved data including data representative of a public perception of at least one of the entity and a risk related to the entity;

evaluate an insurability of the entity responsive at least in part to the data representative of the public perception; and

output the results of the evaluation as an insurance evaluation of the entity.

2. The system of claim 1, wherein the processor is configured to calculate, using the computerized model, a risk score that is indicative of a level of insurance risk of the entity based on the retrieved data representative of public perception.

3. The system of claim 2, wherein the processor is configured to evaluate the insurability of the entity responsive at least in part to the calculated risk score.

4. The system of claim 1, wherein the data representative of the public perception is indicative of a public perception of a risk posed by at least one of a product produced by the entity, a raw material used by the entity, a nanomaterial employed by the entity, and a construction material employed by the entity.

5. The system of claim 1, wherein the processor is configured to output a cost for an insurance policy based on the evaluation.

6. The system of claim 1, wherein the processor is configured to alter a provision of the insurance in response to the retrieved data.

7. The system of claim 1, wherein the public perception of at least one of the entity and a risk related to the entity is obtained from a third party data provider.

8. The system of claim 1, wherein the results of the evaluation include at least one of an offer of insurance, a denial of insurance, a price of an insurance premium, and an adjustment to a price of an insurance premium.

9. A method for determining an insurance evaluation of an entity, the method comprising:

receiving data related to insurance risk of an entity, the retrieved data including data representative of a public perception of at least one of the entity and a risk related to the entity;

storing the received data in a database in communication with a processor;

accessing, by the processor, stored data including the data representative of a public perception; and

evaluating, by the processor, an insurability of the entity responsive at least in part to the data representative of the public perception; and

electronically outputting, by the processor, the results of the evaluation as an insurance evaluation of the entity.

10. The method of claim 9, further comprising calculating, by the processor, using a computerized model, a risk score that is indicative of a level of insurance risk of the entity based on the retrieved data, wherein the risk score is calculated based at least in part on the data representative of a public perception of at least one of the entity and the risk related to the entity.

11. The method of claim 10, further comprising evaluating the insurability of the entity responsive at least in part to the calculated risk score.

12. The method of claim 9, wherein the data representative of the public perception is indicative of a public perception of a risk posed by at least one of a product produced by the entity, a raw material used by the entity, a nanomaterial employed by the entity, and a construction material employed by the entity.

13. The method of claim 9, further comprising outputting, by the processor, a cost for an insurance policy based on the evaluation.

14. The method of claim 9, further comprising altering, by the processor, a provision of the insurance in response to the retrieved data.

15. The method of claim 9, further comprising obtaining, by the processor, the public perception of at least one of the entity and a risk related to the entity from a third party data provider.

16. The method of claim 9, further comprising outputting at least one of an offer of insurance, a denial of insurance, a price of an insurance premium, and an adjustment to a price of an insurance premium.

17. A system for determining an insurance risk of an entity, the system comprising:

a communications port for receiving data representative of a public perception of at least one of the entity and a risk related to the entity;

a memory for storing the data representative of a public perception;

a computerized model stored on the memory; and

a processor configured to;

retrieve from memory data related to an insurance risk of an entity;

evaluate an insurance risk of the entity responsive at least in part to the data representative of the public perception; and

output the results of the evaluation as an insurance risk of the entity.

18. The system of claim 17, wherein the results of the evaluation include at least one of an offer of insurance, a denial of insurance, a price of an insurance premium, and an adjustment to a price of an insurance premium.

19. The system of claim 18, wherein the processor is configured to calculate, using the computerized model, a risk score that is indicative of a level of insurance risk of the entity based on the retrieved data representative of public perception.

20. The system of claim 17, wherein the processor is configured to evaluate the insurability of the entity responsive at least in part to the calculated risk score.

21. The system of claim 17, wherein the data representative of the public perception is indicative of a public perception of a risk posed by at least one of a product produced by the entity, a raw material used by the entity, a nanomaterial employed by the entity, and a construction material employed by the entity.

22. The system of claim 17, wherein the processor is configured to output a cost for an insurance policy based on the evaluation.

23. The system of claim 17, wherein the processor is configured to alter a provision of the insurance in response to the retrieved data.

24. The system of claim 17, wherein the public perception of at least one of the entity and a risk related to the entity is obtained from a third party data provider.