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Method and apparatus for improving the loss ratio on an insurance program book

  • US 7,240,016 B1
  • Filed: 02/01/2001
  • Issued: 07/03/2007
  • Est. Priority Date: 02/01/2000
  • Status: Active Grant
First Claim
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1. A method of enabling an underwriter to improve the loss ratio on an existing book of insurance, the book comprising insurance policies for a set of insured entities, the method comprising the steps of:

  • a) obtaining from the underwriter a set of predefined underwriting criteria;

    b) obtaining a set of policy information for the existing insured entities upon which binding of each policy was based;

    c) using a computer having a user interface display for inputting data from responses to a set of survey questions, the display including a plurality of spaces for survey data input;

    d) surveying at least some of the set of existing insured entities, the survey eliciting responses to the set of survey questions in step “

    c”

    ;

    e) on an individual basis, for at least some of the set of existing insured entities surveyed, inputting data from the responses received in step “

    c”

    into the computer at the spaces provided for in the display in step “

    c”

    ;

    f) validating the policy information obtained in step “

    b”

    by using a computer to compare the data inputted during step “

    e”

    on an individual basis with at least a portion of the policy information obtained in step “

    a”

    ; and

    for at least some of the set of existing insured entities surveyed, having the computer flag any disparity for each insured entity that does not meet the set of predefined underwriting criteria;

    g) reporting to the underwriter survey information on at least some of the existing insured entities who were flagged in step “

    f”

    .

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