SYSTEMS FOR EVALUATING EXPOSURE TO INSURANCE POLICIES CAUSED BY CATOSTROPHIC EVENTS

• US 20160042465A1
• Filed: 08/11/2014
• Published: 02/11/2016
• Est. Priority Date: 08/11/2014
• Status: Active Grant

• Current Assignee: Validus Holdings Ltd. (American International Group Incorporated)
• Original Assignee: Validus Services (Bermuda) Ltd. (American International Group Incorporated)
• Inventors: Ritz, Jonathan
• Granted Patent: US 11,062,393 B2
• Time in Patent Office: Days
• US Class Current: 1/1
• CPC Class Codes: G06Q 40/08 Insurance
• CPC Class Codes: Y02A 10/40 Controlling or monitoring, e.g. of flood or hurricane; Forecasting, e.g. risk assessment or mapping

Abstract

A computing device programmed to receive and use event data, such as hurricane, earthquake, fire, flood, and storm event data, and map that data to computer display map along with insured data related to an insurance portfolio that can also be mapped by geographic area and value, so that a user can quickly determine the exposure to a portfolio from an event. The event can be either a real-time event or a historical event.

Claims

1. An insurance evaluation system for evaluating the exposure to insurance in a geographic area due to a catastrophic event, comprising:

computer memory for storing insured data comprising an insured value and an insured geographic area associated with the insured value; and

a first computer processor programmed to acquire event data comprising an event type, event severity, and event geographic area, display the event data in a computer display, acquire the insured data and display the insured data on the computer display for determining whether the insured data is implicated by the event data.

2. The system of claim 1, further comprising an electrical receiver for receiving the event data in real-time and that is electrically connected to the first computer processor for providing the event data to the first computer processor.

3. The system of claim 1, further comprising wherein the event data is historical event data stored in the computer memory.

4. The system of claim 3, further comprising a second computer and wherein the historical event data is stored within a second computer event memory.

5. The system of claim 1, wherein the computer memory is contained in a second computer that is remotely located with respect to the first computer processor.

6. The system of claim 1, further comprising a second computer for providing real-time event data to the first computer processor.

7. The system of claim 6, further comprising a third computer that comprises memory have the insured data.

8. The system of claim 6, further comprising a fourth computer comprising event data that is historical event data for providing to the first computer processor.

9. The system of claim 1, wherein the event type comprises one selected from the group of hurricane, tornado, earthquake, cyclone, tsunami, fire, tropical depression, and flood.

10. The system of claim 1, further comprising an electrical receiver for receiving the event data from a provider that is streaming the event data and wherein the receiver is electrically connected to the computer processing for providing the event data to the first computer processor.

11. The system of claim 1, wherein the first computer processor is a mobile station and further comprising a second computing system that is remotely located with respect to the first computer processor and comprises memory comprising historical and real-time event data and insured data.

12. A mobile station, comprising:

a first computer processor programmed to acquire event data comprising an event type, event severity, and event geographic area, display the event data in a computer display, acquire insured data comprising an insured value and an insured geographic area associated with the insured value and display the insured data on a computer display for determining whether the insured data is implicated by the event data;

a transceiver for interfacing with a system that provides the insured data and a system that provides the event data.

13. The system of claim 12, wherein the event data comprises real-time data.

14. The system of claim 12, wherein the event data comprises historical event data.

15. The system of claim 13, wherein the event data further comprises historical event data.

16. The system of claim 13, wherein the processor further comprises instructions for searching a memory have event data.

17. An insurance evaluation system for evaluating the exposure to insurance in a geographic area due to a catastrophic event, comprising:

a first computing system comprising a first computer memory for storing insured data comprising an insured value and an insured geographic area associated with the insured value and a first processor for providing the insured data to a mobile station;

a second computing system comprising a second memory for storing event data comprising an event type, severity, and geographic event area, and a second processor for providing the event data to a mobile station; and

a mobile station comprising a computer processor programmed with executable instructions for acquiring the event data and the insured data and displaying the event data and the insured data graphically on a computer display.

18. The system of claim 17, wherein the event data comprises real-time data.

19. The system of claim 17, wherein the event data comprises historical event data.

20. The system of claim 18, wherein the event data further comprises historical event data.