Retail deployment model

• US 8,219,535 B1
• Filed: 06/18/2008
• Issued: 07/10/2012
• Est. Priority Date: 02/15/2006
• Status: Active Grant

• Current Assignee: Allstate Insurance Company (Allstate Corporation)
• Original Assignee: Allstate Insurance Company (Allstate Corporation)
• Inventors: Kobori, Larry Shigeo, Mayeda, Carl Katsumi, Sahai, Priya
• Primary Examiner(s): Vital, Pierre
• Assistant Examiner(s): Rostami, Mohammad S
• Application Number:
  US12/141,746
• Time in Patent Office: 1,483 Days
• Field of Search: 707/999.101, 707/999.102, 707/999.006
• US Class Current: 707/694
• CPC Class Codes: G06F 16/29 Geographical information databases
• CPC Class Codes: G06Q 10/0637 Strategic management or analysis, e.g. setting a goal or target of an organisation; Planning actions based on goals; Analysis or evaluation of effectiveness of goals
• CPC Class Codes: G06Q 30/02 Marketing; Price estimation or determination; Fundraising
• CPC Class Codes: G06Q 30/0205 Location or geographical consideration
• CPC Class Codes: G06Q 40/08 Insurance

Abstract

A method of determining and optimizing the location of a new insurance agency is disclosed to increase market penetration of underrepresented markets. The method comprises the use of a scoring algorithm to rank various geographic regions or related zip codes. The scoring algorithm may be implemented by a location modeling system based on variables selected by a user. In addition, the various ranked geographic regions or related zip codes may be analyzed for proximity to natural or man made perils.

Claims

1. A method for determining an insurance agency location, the method comprising:

(a) receiving at least one geographic region to be evaluated for placement of the insurance agency location;

(b) receiving at least one distance band to a risk border to be evaluated for placement of the insurance agency location;

(c) determining at least two related zip codes to be evaluated based on the at least one geographic region received in step (a);

(d) receiving modeling factors to be utilized in the determination of the insurance agency location;

(e) determining homeowner counts within the received at least one distance band for the determined zip codes, wherein step (e) further comprises using a risk border distance calculation tool, the risk border distance calculation tool utilizing nodes and line segments to determine the homeowner counts within the received at least one distance band for the determined zip codes;

(f) displaying the homeowner counts within the at least one distance band;

(g) determining the insurance agency location based on the displayed homeowner counts and the received at least one distance band;

(h) calculating a final score for each of the at least two zip codes determined in step (c), wherein step (h) further comprises the steps of;

(i) calculating a composite score for each of the at least two zip codes determined in (c); and

(ii) calculating the final score for each of the at least two zip codes based on an equation, where “

μ

”

is mean, and “

σ

”

is standard deviation

2. The method of claim 1, wherein displaying the homeowner counts comprises displaying homeowner locations within the at least one distance band on a map.

3. The method of claim 2, wherein the map includes street level information.

4. The method of claim 2, wherein the map includes aerial imagery.

5. The method of claim 2, wherein the map includes the use of 3D cartography.

6. The method of claim 1, wherein the displaying the homeowner counts comprises displaying homeowner locations within the at least one distance band in a report.

7. The method of claim 1, wherein the composite score comprises a weighted composite score.

8. A method for determining an insurance agency location, the method comprising:

(a) receiving at least one geographic region to be evaluated for placement of the insurance agency location;

(b) determining at least two related zip codes to be evaluated based on the at least one geographic region received in step (a);

(c) receiving modeling factors to be utilized in the determination of the insurance agency location;

(d) receiving distance bands to a risk border to be utilized in the determination of the insurance agency location;

(e) calculating a final score for each of the at least two zip codes determined in step (b), wherein the calculating the final score further comprises the steps of;

(i) calculating a composite score for each of the at least two zip codes; and

(ii) calculating the final score for each of the at least two zip codes based on an equation, where “

μ

”

is mean, and “

σ

”

is standard deviation,

9. The method of claim 8, wherein the composite score comprises a weighted composite score.

10. The method of claim 8, wherein the map comprises street level information, aerial imagery, and 3D cartography.

11. An apparatus comprising:

(a) a display;

(b) a memory;

(c) a processor coupled to the memory and programmed with computer-executable instructions for performing steps comprising;

(i) receiving at least one geographic region to be evaluated for placement of an insurance agency location;

(ii) determining at least two related zip codes to be evaluated based on the at least one geographic region received in (i);

(iii) receiving a distance band to a risk border to be used in determining the placement of the insurance agency location;

(iv) receiving modeling factors to be utilized in the determination of the insurance agency location

(v) determining homeowner counts within the received distance band for the at least two zip codes determined in (ii), wherein step (iv) further comprises the step of using a risk border distance calculation tool, the risk border distance calculation tool utilizing nodes and line segments to determine the homeowner counts within the received distance band for the determined zip codes;

(vi) calculating a final score for each of the at least two zip codes, wherein the calculating the final score further comprises the steps of;

(a) calculating a composite score for each of the at least two zip codes; and

(b) calculating the final score for each of the at least two zip codes based on an equation, where “

μ

”

is mean, and “

σ

”

is standard deviation,

12. The apparatus of claim 11, the processor further configured to perform the steps comprising:

(vii) displaying the determined homeowner counts within the distance bands for each determined zip code; and

(viii) displaying the final scores for each zip code.

13. The apparatus of claim 12, wherein the displaying the homeowner counts within distance bands and the final scores comprises displaying the homeowner counts and the final scores on a map.

14. The apparatus of claim 13, wherein the map comprises street level information, aerial imagery, and 3D cartography.