SYSTEM AND METHOD FOR FORECASTING FREQUENCIES ASSOCIATED TO FUTURE LOSS AND FOR RELATED AUTOMATED OPERATION OF LOSS RESOLVING UNITS

• US 20120143633A1
• Filed: 12/02/2011
• Published: 06/07/2012
• Est. Priority Date: 12/03/2010
• Status: Active Grant

• Current Assignee: Swiss Reinsurance Company
• Original Assignee: Swiss Reinsurance Company
• Inventors: SALGHETTI, Filippo, BILLETER, Salomon, AEBISCHER, Christophe
• Granted Patent: US 8,639,617 B2
• Time in Patent Office: Days
• US Class Current: 705/4
• CPC Class Codes: G06Q 40/08 Insurance

Abstract

Proposed is a system and method for forecasting frequencies associated to future loss and loss distributions for individual risks of a plurality of operating units (30) with at least one measurable liability exposure (31) by means of independently operated liability risk drivers (311-313), and for related automated operation of a loss resolving unit (40) by means of a control unit controller (10). In case of an occurring loss at a loss unit (20, . . . , 26) measure parameters are measured and transmitted to the control unit controller (10). The control unit controller (10) dynamically assigned the measure parameters to the liability risk drivers (311-313) and tunes the operation of the loss resolving unit (40) by resolving the occurred loss by means of the loss resolving unit (40).

Claims

1. A method for forecasting frequencies associated to future loss and loss distributions for individual risks of a plurality of operating units (30) with at least one measurable liability exposure (31) by means of independently operated liability risk drivers (311-313), and for related automated operation of a loss resolving unit (40) by means of a control unit controller (10), whereas in case of an occurring loss at a loss unit (20, . . . , 26) measure parameters are measured and transmitted to the control unit controller (10) and dynamically assigned to the liability risk drivers (311-313) and whereas the operation of the loss resolving unit (40) is automated tuned by means of the control unit controller (10) resolving the occurred loss by means of the loss resolving unit (40), characterized

in that measuring devices (201, . . . , 261) assigned to the loss units (20, . . . , 26) dynamically scan for measure parameters and measurable measure parameters capturing a process dynamic and/or static characteristic of at least one liability risk driver (311-313) are selected by means of the control unit controller (10),

in that a set (16) of liability risk drivers (311-313) is selected by means of a driver selector (15) of the control unit controller (10) parameterizing the liability exposure (31) of the operating unit (30), whereas a liability exposure signal of the operating unit (30) is generated by means of the control unit controller (10) based upon measuring the selected measure parameters by means of the measuring devices (201, . . . , 261), and

in that the driver selector (15) adapts dynamically the set (16) of liability risk drivers (311-313) varying the liability risk drivers (311-313) in relation to the measured liability exposure signal by periodic time response, and the liability risk driven interaction between the loss resolving unit (40) and the operating unit (30) is adjusted based upon the adapted liability exposure signal.

2. Method according to claim 1, characterized in that measure parameters of at least one of the liability risk drivers (311-313) of the set (16) are generated based on saved historic data of a data storage (17), if one or more measure parameters are not scannable for a liability risk driver of the operating unit (30) by means of the control unit controller (10).

3. Method according to one of the claim 1 or 2, characterized in that historic exposure and loss data assigned to a geographic region are selected from a dedicated data storage (18) comprising region-specific data, and historic measure parameters are generated corresponding to the selected measure parameters and whereas the generated liability exposure signal is weighted by means of the historic measure parameters.

4. Method according to one of claims 1 to 3, characterized in that the measuring devices (201, . . . , 261) comprise a trigger module triggering variation of the measure parameters and transmitting detected variations of one or more measure parameters to the control unit controller (10).

5. Method according to one of claims 1 to 4, characterized in that the control unit controller (10) transmits periodically a request for measure parameter update to the measuring devices (201, . . . , 261) to detect dynamically variations of the measure parameters.

6. Method according to one of claims 1 to 5, characterized in that if the loss resolving unit (40) is activated by the control unit controller (10), the loss resolving unit (40) unlocks an automated repair node assigned to the loss resolving unit (40) by means of appropriate signal generation and transmission to resolve the loss of the loss unit (20, . . . , 26).

7. A system for forecasting frequencies associated to future loss and loss distributions for individual risks of a plurality of operating units (30) with at least one measurable liability exposure (31) by means of independently operated liability risk drivers (311-313), and for related automated operation of a loss resolving unit (40) by means of a control unit controller (10), whereas in case of an occurring loss at a loss unit (20, . . . , 26) the system comprises measuring devices (201, . . . , 261) to scan for, measure and transmit measure parameters to the control unit controller (10), whereas the control unit controller (10) comprises means to dynamically assign the measured measure parameters to the liability risk drivers (311-313) and whereas the control unit controller (10) comprises means to operate the automated loss resolving unit (40) resolving the occurred loss, characterized

in that the control unit controller (10) comprises a trigger module to scan measuring devices (201, . . . , 261) assigned to the loss units (20, . . . , 26) for measure parameters and to select measurable measure parameters capturing a process dynamic and/or static characteristic of at least one liability risk driver (311-313) by means of the control unit controller (10),

in that the control unit controller (10) comprises a driver selector (15) to select a set (16) of liability risk drivers (311-313) parameterizing the liability exposure (31) of the operating unit (30), whereas a liability exposure signal of the operating unit (30) is generated based upon measuring the selected measure parameters by means of the measuring devices (201, . . . , 261), and

in that the driver selector (15) comprises means to dynamically adapt the set (16) of liability risk drivers (311-313) varying the liability risk drivers (311-313) in relation to the measured liability exposure signal by periodic time response, and adjust the liability risk driven interaction between the loss resolving unit (40) and the operating unit (30) based upon the adapted liability exposure signal.

8. System according to claim 7, characterized in that the control unit controller (10) comprises a switch unit to generate measure parameters of at least one of the liability risk drivers (311-313) of the set (16) based on saved historic data of a data storage (17), if one or more measure parameters are not scannable for a liability risk driver of the operating unit (30) by means of the control unit controller (10).

9. System according to one of claim 7 or 8, characterized in that a dedicated data storage (18) of the control unit controller (10) comprises region-specific historic exposure and loss data assigned to a geographic region, and the control unit controller (10) comprises additional means to generate historic measure parameters corresponding to the selected measure parameters and to weight the generated liability exposure signal by means of the historic measure parameters.

10. System according to one of claims 7 to 9, characterized in that the measuring devices (201, . . . , 261) comprise a trigger module to trigger variation of the measure parameters and to transmit detected variations of one or more measure parameters to the control unit controller (10).

11. System according to one of claims 7 to 10, characterized in that the control unit controller (10) comprises an interface module (14) to transmit periodically a request for measure parameter update to the measuring devices (201, . . . , 261) in order to detect dynamically variations of the measure parameters.

12. System according to one of claims 7 to 11, characterized in that if the loss resolving unit (40) is activated by the control unit controller (10), the loss resolving unit (40) comprises a switch unit to unlock an automated repair node assigned to the loss resolving unit (40) by means of appropriate signal generation and transmission to resolve the loss of the loss unit (20, . . . , 26).