Retail deployment model
First Claim
Patent Images
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, wherein the at least one distance band to the risk border is calculated by considering a curvature of Earth and determining a distance between a furthest state boundary and the risk border;
(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) displaying homeowner counts within the at least one distance band;
(f) determining the insurance agency location based on the displayed homeowner counts and the received at least one distance band;
(g) calculating a final score for each of the at least two zip codes determined in step (c), wherein step (g) further comprises;
calculating a composite score for each of the at least two zip codes determined in (c); and
(h) comparing the final scores for each of the at least two zip codes to rank order the at least two zip codes.
1 Assignment
0 Petitions
Accused Products
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.
94 Citations
17 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, wherein the at least one distance band to the risk border is calculated by considering a curvature of Earth and determining a distance between a furthest state boundary and the risk border; (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) displaying homeowner counts within the at least one distance band; (f) determining the insurance agency location based on the displayed homeowner counts and the received at least one distance band; (g) calculating a final score for each of the at least two zip codes determined in step (c), wherein step (g) further comprises;
calculating a composite score for each of the at least two zip codes determined in (c); and(h) comparing the final scores for each of the at least two zip codes to rank order the at least two zip codes. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8)
-
-
9. 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, wherein the distance bands to the risk border are calculated by considering a curvature of Earth and determining a distance between a furthest state boundary and the risk border; (e) calculating a final score for each of the at least two related zip codes determined in step (b), wherein step (e) further comprises;
calculating a composite score for each of the at least two related zip codes determined in (b);(f) comparing the final score for each of the at least two related zip codes to rank order the at least two zip codes; (g) determining the insurance agency location based on the final scores, the received distance bands, and homeowner counts within the received distance bands for each determined zip code; and (h) displaying the final scores for each zip code on a map. - View Dependent Claims (10, 11, 12, 13, 14)
-
-
15. An apparatus comprising:
-
(a) a display; (b) a memory; and (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, wherein the distance band to the risk border is calculated by considering a curvature of Earth and determining a distance between a furthest state boundary and the risk border; (iv) receiving modeling factors to be utilized in the determination of the insurance agency location (v) calculating a final score for each of the at least two related zip codes, wherein step (v) further comprises;
calculating a composite score for each of the at least two related zip codes determined in (ii); and(vi) determining the insurance agency location based on the final scores, the received distance band, and homeowner counts within the distance band for each determined zip code. - View Dependent Claims (16, 17)
-
Specification