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Method of determining a risk score or insurance cost using risk-related decision-making processes and decision outcomes

  • US 20150161738A1
  • Filed: 02/17/2014
  • Published: 06/11/2015
  • Est. Priority Date: 12/10/2013
  • Status: Abandoned Application
First Claim
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1. A method of generating a risk score, a cost of insurance, or a risk score and a cost of insurance for at least one individual based at least in part on a use of one or more specific risk-related decision-making processes and resulting decision outcomes, the method comprising:

  • a. receiving first input data from one or more first sensors of a portable or wearable device;

    b. storing the first input data on a first non-transitory computer-readable media;

    c. executing a decision-making process algorithm on a first processor, the decision-making process algorithm analyzes at least the first input data from the first non-transitory computer-readable media and statistically deduces or infers the use of one or more specific risk-related decision-making processes by the individual;

    d. monitoring the resulting decision outcomes for decisions made by the at least one individual by receiving second input data, the second input data received from one or more second sensors or data sources; and

    e. generating the risk score, the cost of insurance, or the risk score and the cost of insurance for the at least one individual based at least in part on one or more correlations between the use of the one or more specific risk-related decision-making processes and the decisions with the resulting decision outcomes.

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