System and method for forecasting frequencies associated to future loss and for related automated operation of loss resolving units
First Claim
1. A method for forecasting frequencies associated with future loss and loss distributions for individual risks associated with a plurality of operating units, each of the plurality of operating units having at least one measurable liability exposure, comprising:
- dynamically selecting, by a hardware control unit controller, a subset of measure parameters and measurable parameters transmitted by measuring devices assigned to loss units, the measuring devices dynamically scanning for the measure parameters and the measurable measure parameters, which capture at least one of a dynamic process and a static characteristic of at least one of a plurality of liability risk drivers, when a loss is incurred by at least one of the loss units;
dynamically assigning, by the hardware control unit controller, the subset of the measure parameters and the measurable parameters to the at least one of a plurality of liability risk drivers;
selecting a set of the plurality of liability risk drivers, by a driver selector of the hardware control unit controller, that parameterizes the at least one measurable liability exposure for at least one of the plurality of operating units and generating a liability exposure signal for the at least one of the plurality of operating units, by the hardware control unit controller, based on the selected subset of measure parameters and measurable parameters;
dynamically adapting, by the driver selector, the set of liability risk drivers by varying the liability risk drivers based on periodic changes in the generated liability exposure signal; and
automatically tuning, by the hardware control unit controller, liability risk driven interaction between a loss resolving unit and the at least one of the plurality of operating units based on the adapted set of liability risk drivers.
1 Assignment
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Accused Products
Abstract
Forecasting frequencies associated with future loss and loss distributions for individual risks associated with operating units, each which have a measurable liability exposure, is accomplished via independently operated liability risk drivers. The frequencies associated with future loss and loss distributions are also forecasted for an automated operation of a loss resolving unit via a control unit controller. When a loss occurs at a loss unit, measure parameters are measured and transmitted to the control unit controller. The control unit controller dynamically assigns the measure parameters to the liability risk drivers and tunes the operation of the loss resolving unit by resolving the loss via the loss resolving unit.
4 Citations
12 Claims
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1. A method for forecasting frequencies associated with future loss and loss distributions for individual risks associated with a plurality of operating units, each of the plurality of operating units having at least one measurable liability exposure, comprising:
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dynamically selecting, by a hardware control unit controller, a subset of measure parameters and measurable parameters transmitted by measuring devices assigned to loss units, the measuring devices dynamically scanning for the measure parameters and the measurable measure parameters, which capture at least one of a dynamic process and a static characteristic of at least one of a plurality of liability risk drivers, when a loss is incurred by at least one of the loss units; dynamically assigning, by the hardware control unit controller, the subset of the measure parameters and the measurable parameters to the at least one of a plurality of liability risk drivers; selecting a set of the plurality of liability risk drivers, by a driver selector of the hardware control unit controller, that parameterizes the at least one measurable liability exposure for at least one of the plurality of operating units and generating a liability exposure signal for the at least one of the plurality of operating units, by the hardware control unit controller, based on the selected subset of measure parameters and measurable parameters; dynamically adapting, by the driver selector, the set of liability risk drivers by varying the liability risk drivers based on periodic changes in the generated liability exposure signal; and automatically tuning, by the hardware control unit controller, liability risk driven interaction between a loss resolving unit and the at least one of the plurality of operating units based on the adapted set of liability risk drivers. - View Dependent Claims (2, 3, 4, 5, 6)
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7. A system for forecasting frequencies associated with future loss and loss distributions for individual risks of a plurality of operating units, each of the plurality of operating units having at least one measurable liability exposure, comprising:
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measuring devices that dynamically scan for, measure, and transmit measure parameters to a hardware control unit controller, the hardware control unit controller dynamically assigning the measured measure parameters to at least one of a plurality of liability risk drivers, wherein the hardware control unit controller includes; a trigger module that scans the measuring devices, which are assigned to the loss units, for the measure parameters and that selects a subset of the measure parameters, the measure parameters capturing at least one of a dynamic process and a static characteristic of at least one of a plurality of liability risk drivers, and a driver selector that selects a set of the plurality of liability risk drivers that parameterize the at least one measurable liability exposure at least one of the plurality of operating units, and that generates a liability exposure signal of the operating unit based upon the selected subset of measure parameters, the driver selector further including means to dynamically adapt the set of liability risk driver by varying the liability risk drivers based on periodic changes in the generated liability exposure signal, and to automatically tune the liability risk driven interaction between a loss resolving unit and the at least one of the plurality of operating units based on the adapted set of liability risk drivers. - View Dependent Claims (8, 9, 10, 11, 12)
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Specification