Abstract: A web crawling engine is configured to mine auction web sites for auction market data. On-line auction market data are aggregated for use in determining how to best list an item for sale through an on-line auction. The market data include listing options (e.g., duration, opening bid) as well as data descriptive of the auction's progress (e.g., current bid). Auction market data can also be actively accumulated by actively listing items at auction, varying the listing options, and monitoring the same auctions. Data is analyzed to identify correlations between item listing options and desirable auction results, such as closing bid price. A multivariable curve fitting is performed based upon the accumulated data to create a function that yields auction revenue as a function of listing options. A set of options that corresponds to the maxima of this function is identified as an optimal set of listing options for a product.

Abstract: A system funds future losses incurred by an insurance carrier on active workers' compensation insurance claims. Statistical models are used to predict future costs and durations of claims. The statistical models are generated by applying statistical analysis techniques to representative historical insurance claim data with the aid of a professional statistician. Forecasting accuracy is improved by generating several models wherein each model represents a predefined type of insurance claim. Each model is applied to active claims of the corresponding type to obtain cost and duration predictions for those claims. A total cost prediction for a claim is proportioned among various cost categories to more accurately reflect actual and predicted claim costs. For each claim, a reserve amount is calculated which is the predicted cost minus the amount of money paid to date on the claim.

Abstract: A system is disclosed for funding future losses incurred by an insurance carrier on active workers' compensation insurance claims. The system uses statistical models to predict future costs and durations of an insurance carrier's claims. The statistical models are generated by applying statistical analysis techniques to representative historical insurance claim data with the aid of a professional statistician. Forecasting accuracy is improved by generating several models wherein each model represents a predefined type of insurance claim. Each model is applied to the carrier's active claims of the corresponding type to obtain cost and duration predictions for those claims. A total cost prediction for a claim is proportioned among various cost categories to more accurately reflect actual and predicted claim costs. For each claim, a reserve amount is calculated which is the predicted cost minus the amount of money paid to date on the claim.