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System and method for computerized insurance rating

  • US 7,881,951 B2
  • Filed: 05/11/2010
  • Issued: 02/01/2011
  • Est. Priority Date: 12/30/2003
  • Status: Active Grant
First Claim
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1. A computerized system for rating possible insurance risk, comprising:

  • an insurance computer system for receiving and storing risk information;

    a web service in electronic communication with said insurance computer system for receiving said risk information from the insurance computer system, wherein said web service also being provided for transmitting risk rating information to said insurance computer system; and

    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 and premium data; and

    furnish results of the calculations from the cells of the workbooks to the web service;

    said insurance computer system configured to receive said risk rating information and premium data from said web service and parse said risk rating information and premium data for display on a user interface;

    wherein the workbooks are loaded responsive to identifying a cell name in a workbook corresponding to a field name in a document generated by the insurance computer system for furnishing the risk information to the web service, andwherein the document is in XML format, and the data from one or more fields in the XML format document is mapped to one or more cells in the workbook having the corresponding name.

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