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System and method for insurance underwriting and rating

DC
  • US 8,255,244 B2
  • Filed: 07/13/2011
  • Issued: 08/28/2012
  • Est. Priority Date: 04/20/2007
  • Status: Expired due to Fees
First Claim
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1. A method of determining insurability of a vehicle comprising:

  • identifying a vehicle;

    forming, in a physical memory of a data processing system, a plurality of data groupings using a processing device of the data processing system, wherein each of the plurality of data groupings includes at least one vehicle history data variable of the identified vehicle;

    processing the at least one vehicle history data variable of at least one data grouping of the plurality of data groupings using the processing device of the data processing system;

    determining an overall value of said at least one data grouping using the processing device of the data processing system; and

    calculating an insurability of the identified vehicle, using the processing device of the data processing system, wherein calculating the insurability of the identified vehicle comprises underwriting an insurance policy for the identified vehicle based on said overall value of the at least one data grouping.

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