Method and apparatus for evaluating a potentially insurable risk

  • US 4,975,840 A
  • Filed: 06/17/1988
  • Issued: 12/04/1990
  • Est. Priority Date: 06/17/1988
  • Status: Expired due to Term
First Claim
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1. Information processing apparatus for evaluating the insurability of a potentially insurable risk, comprising:

  • a. means providing first and second data bases, an input device and a display;

    b. means for storing information relating to the potentially insurable risk in the first data base;

    c. automated means for evaluating the information stored in the first data base and for identifying additional elements of information required for evaluating the potentially insurable risk, and for requesting entry of said additional information for subsequent storage in the first data base;

    d. means for correlating selected elements of information from the first data base with corresponding elements of information previously stored in the second data base;

    e. means for assigning a weight to at least one of the selected elements of information from the first data base on the basis of predetermined relationships existing between the elements of information in the first data base and corresponding elements of information in the second data base;

    f. means for displaying information from the second data base, corresponding to at least one of the selected elements of information from the first data base, for use in assigning a weight to said element of information, means for monitoring an input device for entry of said weight, and means for storing said weight following entry thereof; and

    g. means for determining at least one risk classification for the potentially insurable risk from the weights assigned to the elements of information in the first data base.

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