Sensor Based System And Method For Augmenting Underwriting Of Insurance Policies

• US 20170091869A1
• Filed: 09/30/2015
• Published: 03/30/2017
• Est. Priority Date: 09/30/2015
• Status: Active Grant

• Current Assignee: Johnson Controls Tyco IP Holdings LLP (Johnson Controls International plc)
• Original Assignee: Sensormatic Electronics LLC (Johnson Controls International plc)
• Inventors: Trainor, Christine, Vavrasek, David
• Granted Patent: US 10,902,524 B2
• Time in Patent Office: Days
• US Class Current: 1/1
• CPC Class Codes: G06N 20/00 Machine learning
• CPC Class Codes: G06N 20/20 Ensemble learning
• CPC Class Codes: G06N 5/04 Inference or reasoning models
• CPC Class Codes: G06Q 40/08 Insurance

Abstract

Techniques for detecting physical conditions at a physical premises from collection of sensor information from plural sensors execute one or more unsupervised learning models to continually analyze the collected sensor information to produce operational states of sensor information, produce sequences of state transitions, detect during the continual analysis of sensor data that one or more of the sequences of state transitions is a drift sequence, correlate determined drift state sequence to a stored determined condition at the premises, and generate an alert based on the determined condition. Various uses are described for these techniques.

Claims

1. A computer program product tangibly stored on a computer readable hardware storage device, the computer program product for underwriting of insurance based upon data received from the sensors and service records, the computer program product comprising instructions to cause a processor to:

collect sensor information from plural sensors deployed in a premises;

continually analyze the collected sensor information by one or more unsupervised learning models to continually analyze operational characteristics of the premises and produce operational states of sensor information;

produce sequences of state transitions from the operational states;

detect during the continual analysis that one or more of the produced sequences of state transitions is a drift state sequence;

forming a prediction an event in the form of an alert, which is based on the detected drift state sequence;

evaluate in real time by an automated underwriting system the predicted event against a particular insurance company'"'"'s unique set of underwriting guidelines; and

adjust rates based on the evaluation.

2. The computer program product of claim 1 further comprising instructions to:

send adjusted rates to an external system.

3. The computer program product of claim 1 further comprising:

receive a verification from an automated underwriting process that processes a customer application for insurance confirmation of a provision in an underwritten policy that allows the insurance company to accept state data from a third party entity system and/or sensor data and service record data that originate at the insured premises.

4. The computer program product of claim 1 further comprising instructions to:

evaluate the predicted changes against specific sensor-based underwriting rules are generated for the specific policy type; and

send results of evaluation of the predicted changes by the sensor-based underwriting rules to an automatic underwriting system.

5. A system comprises:

plural sensor devices installed at a premises;

a gateway to couple the plural sensors to a network;

a server computer comprising processor and memory, the sever computer coupled to the network;

a storage device storing a computer program product for detecting conditions at the premises, the computer program product comprising instructions to cause the server to;

collect sensor information from the plural sensors;

continually analyze the collected sensor information by one or more unsupervised learning models to continually analyze operational characteristics of the premises and produce operational states of sensor information;

produce sequences of state transitions from the operational states;

detect during the continual analysis that one or more of the produced sequences of state transitions is a drift state sequence;

forming a prediction an event in the form of an alert, which is based on the detected drift state sequence;

evaluate in real time by an automated underwriting system the predicted event against a particular insurance company'"'"'s unique set of underwriting guidelines; and

adjust rates based on the evaluation.

6. The system of claim 5 wherein the computer program product further comprises instructions to:

send adjusted rates to an external system.

7. The system of claim 5 wherein the computer program product further comprises instructions to:

receive a verification from an automated underwriting process that processes a customer application for insurance confirmation of a provision in an underwritten policy that allows the insurance company to accept state data from a third party entity system and/or sensor data and service record data that originate at the insured premises.

8. The system of claim 5 wherein the computer program product further comprising instructions to:

evaluate the predicted changes against specific sensor-based underwriting rules are generated for the specific policy type; and

send results of evaluation of the predicted changes by the sensor-based underwriting rules to an automatic underwriting system.

9. A computer implemented method comprises:

collecting sensor information from plural sensors deployed in a premises, which plural sensors sense physical conditions at the premises;

sending by a gateway the collected sensor information configured with an identity of the premises and identity of physical objects monitored by the sensors in the identified premises to one or more server computers that comprise processor devices and memory;

executing by the one or more server computers one or more unsupervised learning models to continually analyze the collected sensor information to produce operational states of the sensor information;

producing by the one or more server computers sequences of state transitions from the operational states;

detecting by the one or more server computers during the continual analysis that one or more of the produced sequences of state transitions is a drift state sequence;

forming by the one or more server computers a prediction an event in the form of an alert, which is based on the detected drift state sequence;

evaluating by the one or more server computers in real time by an automated underwriting system the predicted event against a particular insurance company'"'"'s unique set of underwriting guidelines to form an indicator of an adjustment of rates based on the evaluation.

10. The method of claim 9 further comprising:

sending by the one or more server computers the adjustment indicator to an external insurance risk determination system.

11. The method of claim 9 further comprising:

receiving by the one or more server computers a verification from an automated underwriting process that processes a customer application for insurance confirmation of a provision in an underwritten policy that allows the insurance company to accept state data from a third party entity system and/or sensor data and service record data that originate at the insured premises.

12. The method of claim 9 comprising:

evaluating by the one or more server computers the predicted changes against specific sensor-based underwriting rules are generated for the specific policy type; and

sending by the one or more server computers results of evaluation of the predicted changes by the sensor-based underwriting rules to an automatic underwriting system.