Systems and methods for certified location data collection, management, and utilization

• US 9,953,369 B2
• Filed: 03/15/2013
• Issued: 04/24/2018
• Est. Priority Date: 03/28/2012
• Status: Active Grant

• Current Assignee: The Travelers Indemnity Company (The Travelers Cos., Inc.)
• Original Assignee: The Travelers Indemnity Company (The Travelers Cos., Inc.)
• Inventors: Collins, Dean M., Roberts, Thomas J., Maddalena, Thomas J., Tuttle, Ann S., Kimball, Michael
• Primary Examiner(s): Ruiz, Angelica
• Application Number:
  US13/836,429
• Publication Number:
  US 20130262530A1
• Time in Patent Office: 1,866 Days
• CPC Class Codes: G06F 16/22 Indexing; Data structures therefor; Storage structures
• CPC Class Codes: G06F 16/29 Geographical information databases
• CPC Class Codes: G06Q 40/08 Insurance

Abstract

Location information may be gathered, managed, stored, and/or otherwise utilized to determine unique geo-referenced locations. The geo-referenced locations may be utilized to inform various processes and decisions such as insurance underwriting, risk assessment, pricing, and risk/loss control.

Claims

1. A method for managing exposure with respect to a particular building having multiple mailing addresses on different streets, comprising:

identifying, by a central computer system, a first location associated with a first product, wherein the identifying of the first location associated with the first product comprises receiving, from a mobile device of a first potential customer of the first product, at least one of first address information and first coordinate information descriptive of the first location;

identifying, by the central computer system and based on a comparison of the first location to stored location data, a unique building identifier identifying a building associated with the first product, wherein the identifying of the unique building identifier associated with the first product comprises retrieving, from a database, an indication of a data storage relationship between (i) the at least one of the first address information and the first coordinate information and (ii) the unique building identifier;

computing, by the central computer system and based at least in part on the unique building identifier, a risk rating of the first product, wherein the computing of the risk rating of the first product comprises, calculating a total amount of risk exposure associated with customers already having products associated with the building identified by the unique building identifier;

receiving an indication of a request by the first potential customer to purchase the first product;

determining that the calculated total amount of risk exposure associated with customers already having products associated with the building identified by the unique building identifier falls below a predetermined threshold; and

selling, after the determining that the calculated total amount of risk exposure falls below the predetermined threshold, the first product to the first potential customer.

2. The method of claim 1, wherein the identifying of the unique building identifier identifying a building associated with the first product further comprises:

querying a database utilizing the at least one of the first address information and the first coordinate information descriptive of the first location.

3. The method of claim 1, further comprising:

determining, based at least in part on the determined risk rating of the first product, a premium of the first product.

4. The method of claim 1, wherein the total amount of risk exposure associated with customers already having products associated with the building identified by the unique building identifier comprises an aggregate metric based on historic losses for the building.

5. The method of claim 1, further comprising:

determining, by the central computer system, the data storage relationship between (i) the at least one of the first address information and the first coordinate information and (ii) the unique building identifier.

6. The method of claim 5, wherein the determining of the data storage relationship between the (i) the at least one of the first address information and the first coordinate information and (ii) the unique building identifier, comprises:

identifying a street address from the first address information; and

identifying the first coordinate information from stored land polygon data, wherein the stored land polygon is associated with a range of street addresses that comprise the identified street address.

7. The method of claim 5, further comprising:

identifying, by the central computer system and based on the determined data storage relationship between the (i) the at least one of the first address information and the first coordinate information and (ii) the unique building identifier, one or more potential new customers that are located within the same building identified by the unique building identifier as the customers already having products associated with the building identified by the unique building identifier.

8. The method of claim 1, wherein the calculating of the total amount of risk exposure associated with customers already having products associated with the building identified by the unique building identifier, comprises:

determining, for each customer of a plurality of existing customers, a coordinate descriptive of an address for the existing customer; and

comparing the coordinates descriptive of the addresses for the existing customers to at least one coordinate stored in relation to the building identified by the unique building identifier.

9. The method of claim 8, wherein the at least one coordinate stored in relation to the building identified by the unique building identifier comprises one or more of a structure centroid coordinate and a structure vertex coordinate.