Methods for grid-based insurance rating
First Claim
1. A method for rating insurance products using a programmed computer system comprising:
- receiving input from a user including a coordinate pair comprising a longitude and a latitude of a location;
determining a target coordinate grid block by truncating a decimal representation of the longitude and latitude of the location with a processor;
querying a database in communication with the processor for a first set of existing data associated with the target coordinate grid block, wherein the existing data was associated with the target coordinate grid block prior to receiving the coordinate pair;
testing the first set of existing data against a minimum amount threshold using the processor;
if the first set of existing data fails to include the minimum amount of data, determining a current ring of coordinate grid blocks grid adjacent to and surrounding the target grid block with the processor;
querying the database for a second set of existing data associated with each coordinate grid block in the current ring of coordinate grid blocks;
testing the second set of existing data against the minimum amount threshold using the processor;
if the second set of existing data passes the test by including at least the minimum amount of data, calculating a rating for an insurance product based at least in part on an analysis of the data in the first set and the second set; and
communicating the resulting rating for the insurance product to the user.
2 Assignments
0 Petitions
Accused Products
Abstract
A method for rating insurance products using a programmed computer system having steps including receiving a coordinate pair comprising a longitude and a latitude of a location; determining a target coordinate grid block by truncating a decimal representation of the longitude and latitude of the location; querying a database for a first set of existing data associated with the target coordinate grid block; setting a ring counter to an initial value; determining a current ring of coordinate grid blocks grid adjacent to and surrounding the target grid block; querying the database for a second set of existing data associated with each coordinate grid block in the current ring of coordinate grid blocks; and calculating a rating for an insurance product based on an analysis of the data.
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Citations
9 Claims
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1. A method for rating insurance products using a programmed computer system comprising:
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receiving input from a user including a coordinate pair comprising a longitude and a latitude of a location; determining a target coordinate grid block by truncating a decimal representation of the longitude and latitude of the location with a processor; querying a database in communication with the processor for a first set of existing data associated with the target coordinate grid block, wherein the existing data was associated with the target coordinate grid block prior to receiving the coordinate pair; testing the first set of existing data against a minimum amount threshold using the processor; if the first set of existing data fails to include the minimum amount of data, determining a current ring of coordinate grid blocks grid adjacent to and surrounding the target grid block with the processor; querying the database for a second set of existing data associated with each coordinate grid block in the current ring of coordinate grid blocks; testing the second set of existing data against the minimum amount threshold using the processor; if the second set of existing data passes the test by including at least the minimum amount of data, calculating a rating for an insurance product based at least in part on an analysis of the data in the first set and the second set; and communicating the resulting rating for the insurance product to the user. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9)
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Specification