Systems and methods for prospecting and rounding business insurance customers
First Claim
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1. A system for an insurance company to adjust an insurance process, comprising:
- a database; and
at least one processor configured to;
receive identification of at least one prospect;
retrieve information associated with the at least one prospect from the database;
execute a first predictive model to determine a prospect underwriting affinity score representative of the likelihood that insurance will be offered to the at least one prospect, based on the retrieved information;
execute a second predictive model to determine a prospect affinity score representative of the likelihood that the prospect will accept an insurance offer, based on the retrieved information;
execute a third predictive model to determine a combined prospect score based at least partly on the prospect underwriting affinity score and the prospect affinity score; and
adjust an insurance workflow process based on the combined prospect score.
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Abstract
Systems and methods are disclosed herein for identifying potential insurance prospects. The potential customers or prospects are identified by determining prospect underwriting affinity scores, prospect affinity scores, and prospect context scores with predictive models. The scores are then combined into a combined prospect score, which is used to adjust insurance underwriting, workflow, and premium determination processes for the prospects.
135 Citations
25 Claims
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1. A system for an insurance company to adjust an insurance process, comprising:
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a database; and at least one processor configured to; receive identification of at least one prospect; retrieve information associated with the at least one prospect from the database; execute a first predictive model to determine a prospect underwriting affinity score representative of the likelihood that insurance will be offered to the at least one prospect, based on the retrieved information; execute a second predictive model to determine a prospect affinity score representative of the likelihood that the prospect will accept an insurance offer, based on the retrieved information; execute a third predictive model to determine a combined prospect score based at least partly on the prospect underwriting affinity score and the prospect affinity score; and adjust an insurance workflow process based on the combined prospect score. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11)
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12. A computerized method for an insurance company to adjust an insurance process, comprising:
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receiving identification of at least one prospect; retrieving information associated with the at least one prospect from a database; determining, by a first predictive model executing on a processor, a prospect underwriting affinity score representative of the likelihood that insurance will be offered to the at least one prospect, based on the retrieved information; determining, by a second predictive model executing on a processor, a prospect affinity score representative of the likelihood that the prospect will accept an insurance offer, based on the retrieved information; determining, by a third predictive model executing on a processor, a combined prospect score based at least partly on the prospect underwriting affinity score and the prospect affinity score; and adjusting, by a processor, an insurance workflow process based on the combined prospect score. - View Dependent Claims (13, 14, 15, 16, 17, 18, 19)
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20. A computer readable medium storing computer executable instructions, which, when executed by a processor, cause the processor to carry out a method of adjusting an insurance process, the method comprising:
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receiving identification of at least one prospect; retrieving information associated with the at least one prospect from a database; determining, by a first predictive model executing on a processor, a prospect underwriting affinity score representative of the likelihood that insurance will be offered to the at least one prospect, based on the retrieved information; determining, by a second predictive model executing on a processor, a prospect affinity score representative of the likelihood that the prospect will accept an insurance offer, based on the retrieved information; determining, by a predictive model executing on a processor, a combined prospect score based at least partly on the prospect underwriting affinity score and the prospect affinity score; and adjusting, by a processor, an insurance workflow process based on the combined prospect score. - View Dependent Claims (21, 22, 23, 24, 25)
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Specification