Data processing: financial – business practice – management – or co – Automated electrical financial or business practice or... – Insurance
Patent
1997-09-10
1999-10-19
Tkacs, Stephen R.
Data processing: financial, business practice, management, or co
Automated electrical financial or business practice or...
Insurance
705 7, G06F 1760
Patent
active
059704640
ABSTRACT:
A computer implemented method of underwriting profitability analysis delivers the analytic process to a wide cross section of insurance decision makers. The underwriting profitability analysis system leverages an existing investment in databases and improves underwriting business processes. Data mining techniques are applied to historical policy and claims to extract rules that describe policy holders with homogeneous claim frequency and severity characteristics. These rule sets are used to classify policy holders into distinct risk groups, each with its own set of characteristics, including pure premium. Breaking up a book of business into segments allows identification of sub-populations of policy holders that distinctly deviate from the expected normal pure premium. This identification allow the insurance business analysts to interactively adjust eligibility criteria and examine altered characteristics of the covered segments until satisfactory. The system is implemented on a client server using network centric language technology.
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Apte Chidanand Vinayak
Grossman Edna
Pednault Edwin Peter Dawson
Rosen Barry Kumin
Tipu Fateh Ali
International Business Machines - Corporation
Kaufman Stephen C.
Morgan George D.
Tkacs Stephen R.
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