US6186793B1
Expired / Lapsed
US
⏱️ 0.0 years remaining
Process to convert cost and location of a number of actual contingent events within a region into a three dimensional surface over a map that provides for every location within the region its own estimate of expected cost for future contingent events
Assignee: Individual
•
Filing: 1997-11-14
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Granted: 2001-02-13
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Expires: 2017-11-14
Abstract
Abstract A method of establishing the insurance rate at a desired location comprising the steps of selecting a plurality of predetermined points, calculating the insurance rate at each predetermined point, and interpolating among the values of insurance rates at predetermined points adjacent to the desired location to calculate the insurance rate at the desired location.
Inventors
- 👤 Randall E. Brubaker
Bibliographic Details
Application Number
—
Jurisdiction
US
Data Source
google_patents
Last Synchronized
2026-11-09 15:08
CPC Classifications
G; G06; G06Q; G06Q40/00; G06Q40/08; G06Q99/00
Claims Analysis
Total Claims: 14
Claim 1
Independent Claim
155 words
A method that utilizes and transforms historic insurance data such as losses, policyholder location, coverage provided, and other factors affecting likelihood of loss into a three dimensional surface over a map that provides a uniquely estimated rate value for every location desired, comprising the steps of: selecting a plurality of predetermined points such that every location for which rate values are desired is located at or among the predetermined points; determining a rate value for each predetermined point by using data uniquely selected and weighted from other locations; interpolating among the rate values at the predetermined points to determine the rate values at desired locations which are located among the predetermined points; and specifying the rate values calculated at the predetermined points and, by formula, the rate values at desired locations among the predetermined points to create a three dimensional surface over a map that provides a uniquely estimated rate value for every location desired.
Claim 2
Independent Claim
155 words
A method that utilizes and transforms historic insurance data such as losses, policyholder location, coverage provided, and other factors affecting likelihood of loss into a three dimensional surface over a map that provides a uniquely estimated rate value for every location desired, comprising the steps of: selecting a plurality of predetermined points such that every location for which rate values are desired is located at or among the predetermined points; determining a rate value for each predetermined point by using data uniquely selected and weighted from other locations; interpolating among the rate values at the predetermined points to determine the rate values at desired locations which are located among the predetermined points; and specifying the rate values calculated at the predetermined points and, by formula, the rate values at desired locations among the predetermined points to create a three dimensional surface over a map that provides a uniquely estimated rate value for every location desired.
Claim 3
Dependent Claim
18 words
The method of claim 1 , wherein the plurality of predetermined points are uniformly spaced from each other.
Claim 4
Dependent Claim
30 words
The method of claim 1 , wherein the step of calculating the rate values at each predetermined point comprises the step of identifying relevant information affecting the likehood of loss.
Claim 5
Dependent Claim
31 words
The method of claim 3 , wherein the step of calculating the rate values at each predetermined point further comprises the step of assigning relative weights to the historic insurance data.
Claim 6
Dependent Claim
23 words
The method of claim 4 , further comprising the step of adjusting the rate values at each predetermined point to reflect actuarial credibility.
Claim 7
Dependent Claim
23 words
The method of claim 1 , further comprising the step of adjusting the rate values at each predetermined point to reflect actuarial credibility.
Claim 8
Independent Claim
143 words
A method that transforms historic insurance data such as losses, policyholder location, coverage provided, and other factors affecting likelihood of loss into rate values for creating a three dimensional rating surface of uniquely estimated rate values for all locations desired comprising the steps of: selecting a plurality of predetermined points such that all locations for which rate values are desired are located at or among the predetermined points; determining a rate value for each predetermined point by using data uniquely selected and weighted from other locations; interpolating among the rate values at the predetermined points to determine the rate values at desired locations which are located among the predetermined points; transforming the rate values calculated onto a contour of point sets; and plotting the contour point sets to formulate a three dimensional rating surface of uniquely estimated rate values for all locations desired.
Claim 9
Independent Claim
143 words
A method that transforms historic insurance data such as losses, policyholder location, coverage provided, and other factors affecting likelihood of loss into rate values for creating a three dimensional rating surface of uniquely estimated rate values for all locations desired comprising the steps of: selecting a plurality of predetermined points such that all locations for which rate values are desired are located at or among the predetermined points; determining a rate value for each predetermined point by using data uniquely selected and weighted from other locations; interpolating among the rate values at the predetermined points to determine the rate values at desired locations which are located among the predetermined points; transforming the rate values calculated onto a contour of point sets; and plotting the contour point sets to formulate a three dimensional rating surface of uniquely estimated rate values for all locations desired.
Claim 10
Dependent Claim
18 words
The method of claim 7 , wherein the plurality of predetermined points are uniformly spaced from each other.
Claim 11
Dependent Claim
30 words
The method of claim 7 , wherein the step of calculating the rate values at each predetermined point comprises the step of identifying relevant information affecting the likelihood of loss.
Claim 12
Dependent Claim
31 words
The method of claim 9 , wherein the step of calculating the rate values at each predetermined point further comprises the step of assigning relative weights to the historic insurance data.
Claim 13
Dependent Claim
23 words
The method of claim 9 , further comprising the step of adjusting the rate values at each predetermined point to reflect actuarial credibility.
Claim 14
Dependent Claim
22 words
The method of claim 7 further comprising the step of adjusting the rate values at each predetermined point to reflect actuarial credibility.
References Cited (Backward Citations)
US5897619A
Cited
USPTO Annuity & Maintenance Windows
| Annuity Stage | Window Opens | Payment Deadline | Surcharge Period Until | Estimated Fee | Status |
|---|---|---|---|---|---|
| 3.5 Years (Year 4) | 2004-02-13 | 2004-08-14 | 2005-02-13 | $2000.00 | Window Closed / Lapsed |
| 7.5 Years (Year 8) | 2008-02-13 | 2008-08-14 | 2009-02-13 | $3760.00 | Window Closed / Lapsed |
| 11.5 Years (Year 12) | 2012-02-13 | 2012-08-14 | 2013-02-13 | $7700.00 | Window Closed / Lapsed |