SYSTEMS AND METHODS FOR AGGREGATING AND ANALYZING ATTRIBUTES FOR HABITATIONAL INSURANCE POLICIES

• US 20150193883A1
• Filed: 11/11/2014
• Published: 07/09/2015
• Est. Priority Date: 11/11/2013
• Status: Active Application

• Current Assignee: TransUnion LLC (TransUnion Corporation)
• Original Assignee: TransUnion LLC (TransUnion Corporation)
• Inventors: Burns, Clifton H., Martin, Jeffrey, Sullins, Anthony
• Application Number:
  US14/538,747
• Publication Number:
  US 20150193883A1
• Time in Patent Office: Days
• US Class Current: 1/1
• CPC Class Codes: G06Q 40/08 Insurance

Abstract

Systems and methods are provided for depersonalizing and aggregating insurance-related attributes for individuals of a multi-unit complex into aggregated insurance-related data, based on received data, and analyzing the aggregated insurance-related data. Data for a multi-unit complex may be received from an insurance carrier or other entity. Insurance-related attributes for individuals of the multi-unit complex may be retrieved from an insurance data database, based on the received data. The insurance-related attributes may be depersonalized and aggregated to generate insurance-related data. The aggregated insurance-related data may be analyzed to generate analytic data, which can be transmitted to the insurance carrier or other entity. Insurance carriers can use the analytic data to obtain more accurate risk assessments for multi-unit complexes so that the insurance carriers can provide improved and more optimal pricing for habitational insurance policies. Financial institutions can use the analytic data to improve commercial lending underwriting.

Claims

1. A method for aggregating and analyzing insurance-related attributes for a habitational insurance policy for a multi-unit complex, using a processor, the method comprising:

receiving insurance policy data for the multi-unit complex at the processor from an electronic device associated with an insurance carrier, the insurance policy data comprising at least one address of the multi-unit complex;

retrieving at least one insurance-related attribute for at least one individual of the multi-unit complex from a database, based on the at least one address of the multi-unit complex, using the processor;

depersonalizing and aggregating the at least one insurance-related attribute for the at least one individual, using the processor, to generate aggregated insurance-related data;

analyzing the aggregated insurance-related data, using the processor;

generating analytic data based on analyzing the aggregated insurance-related data, using the processor; and

transmitting the analytic data from the processor to the electronic device associated with the insurance carrier.

2. The method of claim 1, wherein the insurance policy data further comprises one or more of a policy name, a policy identification number, a name of the multi-unit complex, a type of the multi-unit complex, or a total number of units of the multi-unit complex.

3. The method of claim 2, wherein the type of the multi-unit complex comprises one or more of an apartment building, an apartment complex, a condominium building, or a plurality of single family homes.

4. The method of claim 1, wherein the at least one insurance-related attribute comprises one or more of an automobile insurance score, a property insurance score, an initial habitation date of the at least one individual at the multi-unit complex, or an age of the at least one individual.

5. The method of claim 1, further comprising analyzing credit-related data in the database to generate the at least one insurance-related attribute, using the processor.

6. The method of claim 1, wherein depersonalizing and aggregating comprises depersonalizing and aggregating the at least one insurance-related attribute for the at least one individual at a level of the at least one address of the multi-unit complex, using the processor.

7. The method of claim 1, wherein analyzing the aggregated insurance-related data comprises using the processor, one or more of calculating an average insurance score, calculating a median insurance score, categorizing an insurance score based on risk, calculating an average age, calculating retention statistics, or calculating velocity statistics.

8. The method of claim 1, wherein the analytic data comprises one or more of insurance score data, retention data, velocity data, or age data.

9. The method of claim 1, further comprising storing the analytic data in a historical data database, using the processor.

10. A system for aggregating and analyzing insurance-related attributes for a habitational insurance policy for a multi-unit complex, the system comprising:

a processor in communication with a network;

a memory in communication with the processor, the memory for storing;

an insurance data database comprising insurance-related attributes for at least one individual of the multi-unit complex;

an aggregation and analysis engine for;

receiving insurance policy data for the multi-unit complex from an electronic device associated with an insurance carrier, the insurance policy data comprising at least one address of the multi-unit complex;

retrieving at least one insurance-related attribute for at least one individual of the multi-unit complex from the insurance data database, based on the at least one address of the multi-unit complex;

depersonalizing and aggregating the at least one insurance-related attribute for the at least one individual, to generate aggregated insurance-related data;

analyzing the aggregated insurance-related data;

generating analytic data based on analyzing the aggregated insurance-related data; and

transmitting the analytic data to the electronic device associated with the insurance carrier.

11. The system of claim 10, wherein the insurance policy data further comprises one or more of a policy name, a policy identification number, a name of the multi-unit complex, a type of the multi-unit complex, or a total number of units of the multi-unit complex.

12. The system of claim 11, wherein the type of the multi-unit complex comprises one or more of an apartment building, an apartment complex, a condominium building, or a plurality of single family homes.

13. The system of claim 10, wherein the at least one insurance-related attribute comprises one or more of an automobile insurance score, a property insurance score, an initial habitation date of the at least one individual at the multi-unit complex, or an age of the at least one individual.

14. The system of claim 10, wherein the aggregation and analysis engine is further for analyzing credit-related data in the database to generate the at least one insurance-related attribute.

15. The system of claim 10, wherein the aggregation and analysis engine depersonalizes and aggregates by depersonalizing and aggregating the at least one insurance-related attribute for the at least one individual at a level of the at least one address of the multi-unit complex.

16. The system of claim 10, wherein the aggregation and analysis engine analyzes the aggregated insurance-related data by one or more of calculating an average insurance score, calculating a median insurance score, categorizing an insurance score based on risk, calculating an average age, calculating retention statistics, or calculating velocity statistics.

17. The system of claim 10, wherein the analytic data comprises one or more of insurance score data, retention data, velocity data, or age data.

18. The system of claim 10, wherein:

the memory further comprises a historical data database for storing the analytic data; and

the aggregation and analysis engine is further for storing the analytic data in the historical data database.

19. A method for aggregating and analyzing insurance-related attributes for a multi-unit complex, using a processor, the method comprising:

receiving data related to the multi-unit complex at the processor from an electronic device associated with a financial institution, the data comprising at least one address of the multi-unit complex;

retrieving at least one insurance-related attribute for at least one individual of the multi-unit complex from a database, based on the at least one address of the multi-unit complex, using the processor;

depersonalizing and aggregating the at least one insurance-related attribute for the at least one individual, using the processor, to generate aggregated insurance-related data;

analyzing the aggregated insurance-related data, using the processor;

generating analytic data based on analyzing the aggregated insurance-related data, using the processor; and

transmitting the analytic data from the processor to the electronic device associated with the financial institution.

20. The method of claim 19, wherein the lending data further comprises one or more of a loan identification number, parameters of a loan, a policy name, a policy identification number, a name of the multi-unit complex, a type of the multi-unit complex, or a total number of units of the multi-unit complex.