System and method for computerized insurance rating
First Claim
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1. An adaptive system for rating possible insurance risk comprising:
- a user interface in electronic communication with a user computer for receiving risk information, said user interface in communication with a legacy computer system;
a web service in electronic communication with said legacy computer system for receiving said risk information, wherein said web service also being provided for transmitting risk rating information to said legacy computer system;
a calculation engine in electronic communication with said web service and configured to;
load, from a data repository for storing rating spreadsheets for calculation of risk rating data, instances of selected ones of workbooks of the stored spreadsheets;
populate cells of said workbooks with data based on said received risk information;
perform calculations employing formulas included in said workbooks to determine risk rating information;
furnish results of the calculations from the cells of the workbooks to the web service; and
close the instances of the workbooks without saving entered values;
and said legacy system parsing said risk rating information for display on said user interface,wherein the rating spreadsheets are further for calculating premium data;
the calculation engine is further configured to perform calculations employing formulas included in said workbooks to determine premiums; and
said legacy system is further for parsing said premiums for display on said user interface, andwherein the workbooks are loaded responsive to identifying a cell name in a workbook corresponding to a field name in an XML document generated by the legacy system for furnishing the risk information to the web service, and the data from the XML document is mapped to cells in the workbooks having corresponding names.
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Abstract
The invention relates generally to a computer system and method for integrating insurance policy underwriting. In one aspect, it integrates an older legacy insurance policy generating system to on-line rating systems where users access the system through browsers. The computer system to perform the process of dynamically rating includes generating an input XML file of risk information that is sent to a web service and calculated in a calculation engine. The processed data is retrieved by the web service and transmitted as an XML file to a user interface that parses the rating information and displays the data.
348 Citations
22 Claims
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1. An adaptive system for rating possible insurance risk comprising:
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a user interface in electronic communication with a user computer for receiving risk information, said user interface in communication with a legacy computer system; a web service in electronic communication with said legacy computer system for receiving said risk information, wherein said web service also being provided for transmitting risk rating information to said legacy computer system; a calculation engine in electronic communication with said web service and configured to; load, from a data repository for storing rating spreadsheets for calculation of risk rating data, instances of selected ones of workbooks of the stored spreadsheets; populate cells of said workbooks with data based on said received risk information; perform calculations employing formulas included in said workbooks to determine risk rating information; furnish results of the calculations from the cells of the workbooks to the web service; and close the instances of the workbooks without saving entered values; and said legacy system parsing said risk rating information for display on said user interface, wherein the rating spreadsheets are further for calculating premium data;
the calculation engine is further configured to perform calculations employing formulas included in said workbooks to determine premiums; and
said legacy system is further for parsing said premiums for display on said user interface, andwherein the workbooks are loaded responsive to identifying a cell name in a workbook corresponding to a field name in an XML document generated by the legacy system for furnishing the risk information to the web service, and the data from the XML document is mapped to cells in the workbooks having corresponding names. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 22)
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10. A computer implemented method for rating possible insurance risk, comprising the steps of:
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receiving, via a user interface in electronic communication with a user computer, insurance risk information, wherein the user interface is in communication with a legacy computer system; receiving, via a web service in electronic communication with the legacy computer system, the insurance risk information; loading, from a data repository for storing rating spreadsheets for calculation of risk rating data, by a calculation engine in electronic communication with the web service, instances of selected ones of workbooks of the rating spreadsheets; populating cells of said workbooks with data based on said received insurance risk information; calculating, via the calculation engine employing formulas included in said workbooks, risk rating information, furnishing the risk rating information resulting from the calculating, from the cells of the workbooks to the web service, and closing the instances of the workbooks without saving entered values; transmitting, via the web service, the furnished risk rating information to the legacy computer system; parsing, via the legacy computer system, the transmitted risk rating information; and
displaying, via the user interface, the risk rating information to the userwherein the rating spreadsheets are further for calculating premium data;
the calculation engine is further configured to perform calculations employing formulas included in said workbooks to determine premiums; and
said legacy system is further for parsing said premiums for display on said user interface, andwherein the workbooks are loaded responsive to identifying a cell name in a workbook corresponding to a field name in an XML document generated by the legacy system for furnishing the risk information to the web service, and the data from the XML document is mapped to cells in the workbooks having corresponding names. - View Dependent Claims (11, 12, 13, 14, 15, 16, 17, 18)
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19. A system for rating possible insurance risk comprising:
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a user interface in electronic communication with a user computer for receiving risk information, said user interface in communication with a legacy computer system; a web service in electronic communication with said legacy computer system for receiving said risk information, wherein said web service also being provided for transmitting risk rating information to said legacy computer system; a calculation engine in electronic communication with said web service for calculating said risk rating information; a data repository in communication with said calculation engine for storing calculations for rating spreadsheets, wherein instances of selected ones of workbooks of the rating spreadsheets are loaded from the data repository by the calculation engine, cells of the workbooks are populated with data based on said received risk information, calculations in accordance with formulas included in said workbooks are performed to determine risk rating information, results of the calculations from the cells of the workbooks are furnished to the web service, and the instances of the workbooks are closed without saving entered values, and wherein said calculation engine transmits said risk rating information to said web service, and said legacy system parses said risk rating information for display on said user interface wherein the rating spreadsheets are further for calculating premium data;
the calculation engine is further configured to perform calculations employing formulas included in said workbooks to determine premiums; and
said legacy system is further for parsing said premiums for display on said user interface, andwherein the workbooks are loaded responsive to identifying a cell name in a workbook corresponding to a field name in an XML document generated by the legacy system for furnishing the risk information to the web service, and the data from the XML document is mapped to cells in the workbooks having corresponding names. - View Dependent Claims (20, 21)
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Specification