Patents by Inventor Stephen Fiete
Stephen Fiete has filed for patents to protect the following inventions. This listing includes patent applications that are pending as well as patents that have already been granted by the United States Patent and Trademark Office (USPTO).
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Publication number: 20230196472Abstract: In an illustrative embodiment, systems and methods for calculating risk scores for locations potentially affected by catastrophic events include receiving a risk score request for a location, the risk score request including a request for assessment of risk exposure related to a type of catastrophic event. Based on the type of catastrophic event, a data compression algorithm may be applied to a catastrophic risk model representing amounts of perceived risk to an area surrounding the location. In response to receiving the risk score request, a risk score for the location may be calculated that corresponds to a weighted estimation of one or more data points in a compressed catastrophic risk model. A risk score user interface screen may be generated in real-time to present the catastrophic risk score and one or more corresponding loss metrics for the location due to a potential occurrence of the type of catastrophic event.Type: ApplicationFiled: August 1, 2022Publication date: June 22, 2023Applicant: AON GLOBAL OPERATIONS SE, SINGAPORE BRANCHInventors: Stephen Fiete, Alok Bhattacharya
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Patent number: 11436680Abstract: In an illustrative embodiment, systems and methods for calculating risk scores for locations potentially affected by catastrophic events include receiving a risk score request for a location, the risk score request including a request for assessment of risk exposure related to a type of catastrophic event. Based on the type of catastrophic event, a data compression algorithm may be applied to a catastrophic risk model representing amounts of perceived risk to an area surrounding the location. In response to receiving the risk score request, a risk score for the location may be calculated that corresponds to a weighted estimation of one or more data points in a compressed catastrophic risk model. A risk score user interface screen may be generated in real-time to present the catastrophic risk score and one or more corresponding loss metrics for the location due to a potential occurrence of the type of catastrophic event.Type: GrantFiled: May 13, 2020Date of Patent: September 6, 2022Assignee: AON GLOBAL OPERATIONS SE, SINGAPORE BRANCHInventors: Stephen Fiete, Alok Bhattacharya
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Publication number: 20210097621Abstract: In an illustrative embodiment, systems and methods for calculating risk scores for locations potentially affected by catastrophic events include receiving a risk score request for a location, the risk score request including a request for assessment of risk exposure related to a type of catastrophic event. Based on the type of catastrophic event, a data compression algorithm may be applied to a catastrophic risk model representing amounts of perceived risk to an area surrounding the location. In response to receiving the risk score request, a risk score for the location may be calculated that corresponds to a weighted estimation of one or more data points in a compressed catastrophic risk model. A risk score user interface screen may be generated in real-time to present the catastrophic risk score and one or more corresponding loss metrics for the location due to a potential occurrence of the type of catastrophic event.Type: ApplicationFiled: May 13, 2020Publication date: April 1, 2021Inventors: Stephen Fiete, Alok Bhattacharya
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Patent number: 10657604Abstract: In an illustrative embodiment, systems and methods for calculating risk scores for locations potentially affected by catastrophic events include receiving a risk score request for a location, the risk score request including a request for assessment of risk exposure related to a type of catastrophic event. Based on the type of catastrophic event, a data compression algorithm may be applied to a catastrophic risk model representing amounts of perceived risk to an area surrounding the location. In response to receiving the risk score request, a risk score for the location may be calculated that corresponds to a weighted estimation of one or more data points in a compressed catastrophic risk model. A risk score user interface screen may be generated in real-time to present the catastrophic risk score and one or more corresponding loss metrics for the location due to a potential occurrence of the type of catastrophic event.Type: GrantFiled: June 5, 2019Date of Patent: May 19, 2020Assignee: Aon Global Operations Ltd. (Singapore Branch)Inventors: Stephen Fiete, Alok Bhattacharya
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Publication number: 20190378216Abstract: In an illustrative embodiment, systems and methods for calculating risk scores for locations potentially affected by catastrophic events include receiving a risk score request for a location, the risk score request including a request for assessment of risk exposure related to a type of catastrophic event. Based on the type of catastrophic event, a data compression algorithm may be applied to a catastrophic risk model representing amounts of perceived risk to an area surrounding the location. In response to receiving the risk score request, a risk score for the location may be calculated that corresponds to a weighted estimation of one or more data points in a compressed catastrophic risk model. A risk score user interface screen may be generated in real-time to present the catastrophic risk score and one or more corresponding loss metrics for the location due to a potential occurrence of the type of catastrophic event.Type: ApplicationFiled: June 5, 2019Publication date: December 12, 2019Applicant: Aon Global Operations Ltd. (Singapore Branch)Inventors: Stephen Fiete, Alok Bhattacharya
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Patent number: 10109013Abstract: A system and method for calculating and applying insurance costs. For vehicle insurance under one embodiment of the present invention, insurance costs are calculated on a per-mile basis in a nonlinear fashion, assigning different levels of risk based upon the distance driven by a customer. In one embodiment of the present invention, the first miles or kilometers driven by a customer are assigned a greater level of risk than later-driven miles or kilometers. The present invention provides an actuarial method that more closely conforms the cost of insurance for a particular vehicle to its annual mileage by creating a Rate Per Mile Factor (RMF), where the RMF is expressed as a function of annual mileage.Type: GrantFiled: July 24, 2014Date of Patent: October 23, 2018Assignee: Allstate Insurance CompanyInventors: Frederick F. Cripe, Stephen Fiete
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Patent number: 8812330Abstract: A system and method for calculating and applying insurance costs. For vehicle insurance under one embodiment of the present invention, insurance costs are calculated on a per-mile basis in a nonlinear fashion, assigning different levels of risk based upon the distance driven by a customer. In one embodiment of the present invention, the first miles or kilometers driven by a customer are assigned a greater level of risk than later-driven miles or kilometers. The present invention provides an actuarial method that more closely conforms the cost of insurance for a particular vehicle to its annual mileage by creating a Rate Per Mile Factor (RMF), where the RMF is expressed as a function of annual mileage.Type: GrantFiled: September 11, 2012Date of Patent: August 19, 2014Assignee: Allstate Insurance CompanyInventors: Frederick F. Cripe, Stephen Fiete
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Patent number: 8280752Abstract: A system and method for calculating and applying insurance costs. For vehicle insurance under one embodiment of the present invention, insurance costs are calculated on a per-mile basis in a nonlinear fashion, assigning different levels of risk based upon the distance driven by a customer. In one embodiment of the present invention, the first miles or kilometers driven by a customer are assigned a greater level of risk than later-driven miles or kilometers. The present invention provides an actuarial method that more closely conforms the cost of insurance for a particular vehicle to its annual mileage by creating a Rate Per Mile Factor (RMF), where the RMF is expressed as a function of annual mileage.Type: GrantFiled: April 4, 2011Date of Patent: October 2, 2012Assignee: Allstate Insurance CompanyInventors: Frederick F. Cripe, Stephen Fiete
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Patent number: 7937278Abstract: A system and method for calculating and applying insurance costs. For vehicle insurance under one embodiment of the present invention, insurance costs are calculated on a per-mile basis in a nonlinear fashion, assigning different levels of risk based upon the distance driven by a customer. In one embodiment of the present invention, the first miles or kilometers driven by a customer are assigned a greater level of risk than later-driven miles or kilometers. The present invention provides an actuarial method that more closely conforms the cost of insurance for a particular vehicle to its annual mileage by creating a Rate Per Mile Factor (RMF), where the RMF is expressed as a function of annual mileage.Type: GrantFiled: January 6, 2006Date of Patent: May 3, 2011Assignee: Allstate Insurance CompanyInventors: Frederick F. Cripe, Stephen Fiete