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INSURANCE RISK EVALUATION SYSTEMS AND METHODS

  • US 20190311438A1
  • Filed: 04/05/2019
  • Published: 10/10/2019
  • Est. Priority Date: 04/06/2018
  • Status: Active Application
First Claim
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1. A computer system including a processor and a memory, the memory containing software instructions configuring the system to perform acts including:

  • receive a first data set from one or more insurance data sources, wherein the first data set comprises insurance claims data collected from one or more types of insurance offerings, wherein the first data set includes data from each of a plurality of insurance consumers;

    store the first data set from the one or more insurance data sources into a data store;

    receive a second data set from a plurality of research organizations;

    store the second data set from the plurality of research organizations into the data store;

    receive a third data set from one or more third party databases;

    store the third data set from the one or more third party databases into the data store;

    for each of the plurality of insurance consumers, determine one or more risk modification factors based on the first, second, and third data sets and one or more risk methodologies;

    based on the one or more risk modification factors, determine a risk profile for each of the plurality of insurance consumers; and

    determine a segmentation of the plurality of insurance consumers based on the determined risk profiles, wherein the segmentation is usable for insurance underwriting.

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