SYSTEMS AND METHODS FOR ANALYZING SENSOR DATA
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Abstract
The invention herein generally pertains to underwriting an insurance policy utilizing sensors to detect, determine, measure and assess one or more conditions, states of affairs, physical properties and process as each relates an insurable property interest. More specifically is disclosed a method and computerized system for managing the underwriting, quoting and binding an insurance policy with regard to the technology used to militate against the financial consequences of certain property losses. The significance of operable safety related devices or system loads are important diagnostic safety markers for measuring one or more properties affecting the safety or risk aversion and for underwriting an insurable interest. This invention also relates to a system and a method for acquiring and assessing the qualities, variables and parameters that affect the underwriting premium for a building structure (commercial or residential), vehicle, aircraft, marine craft or cargo.
208 Citations
77 Claims
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1-53. -53. (canceled)
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54. A computerized method of insuring a property comprising:
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providing a computer having electronic access to; a plurality of standard industry codes, wherein each standard industry code represents a manner of use for a potentially insurable property; a plurality of standard industry code-specific underwriting guidelines; an association between each standard industry code and a respective standard industry code-specific underwriting guideline; executing, by the computer, computer executable instructions stored on a computer readable medium, thereby causing the computer to; obtain an association between the property and one of the stored industry codes; and calculate a premium for an insurance policy for the property based at least in part on sensor data collected regarding the property, wherein an effect of the collected sensor data on the calculating of the premium is determined based on the industry code associated with the property. - View Dependent Claims (55, 56, 57, 58, 59, 60, 61, 62, 63)
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64. A system for insuring a property comprising:
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a computer having electronic access to; a plurality of standard industry codes, wherein each standard industry code represents a manner of use for a potentially insurable property; a plurality of standard industry code-specific underwriting guidelines; an association between each standard industry code and a respective standard industry code-specific underwriting guideline; computer executable instructions stored on a computer readable medium, which when executed cause the computer to; obtain an association between the property and one of the stored industry codes; and calculate a premium for an insurance policy for the property based at least in part on sensor data collected regarding the property, wherein an effect of the collected sensor data on the calculating of the premium is determined based on the industry code associated with the property. - View Dependent Claims (65, 66, 67, 68, 69, 70, 71, 72, 73)
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74. A computer readable medium storing computer executable instructions, which when executed cause the computer to carry out a method comprising:
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electronically accessing a database that stores; a plurality of standard industry codes, wherein each standard industry code represents a manner of use for a potentially insurable property; a plurality of standard industry code-specific underwriting guidelines; and an association between each standard industry code and a respective standard industry code-specific underwriting guideline; obtaining an association between the property and one of the stored industry codes; and calculating a premium for an insurance policy for the property based at least in part on sensor data collected regarding the property, wherein an effect of the collected sensor data on the calculating of the premium is determined based on the industry code associated with the property. - View Dependent Claims (75, 76, 77)
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Specification