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Automatic insurance adjustments using real world awareness

  • US 8,271,308 B2
  • Filed: 09/13/2011
  • Issued: 09/18/2012
  • Est. Priority Date: 07/17/2007
  • Status: Active Grant
First Claim
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1. A method for providing an initial valuation of an insurance premium based on Electronic Product Code-related (EPC-related) data, comprising:

  • receiving product data from a sensor during a business process;

    filtering the product data according to filtering criteria set by a capturing application;

    incorporating the product data into EPC-related data, the EPC-related data representing a business context of the business process;

    accessing the EPC-related data through a plurality of program interfaces, the program interfaces forming a multi-layer framework including at least a service layer, a data definition layer, and an abstract data model layer;

    initiating setup of an insurance policy;

    determining one or more objects covered by the insurance policy based on EPC-related data associated with the one or more objects;

    evaluating the one or more objects based on the associated EPC-related data; and

    determining an insurance premium for the insurance policy based on the valuation of the one or more objects.

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