Abstract: A system and method of generating insurance risk samples and for comparing hypothetical and real insurance premiums of different insurance companies is disclosed. In some embodiments, one or more rating factors are defined and have a plurality of possible values at least partially defining an insurance risk. Values for the one or more rating factors are selected according to a predetermined distribution. The selected values are then used to generate sample risks, calculate sample premiums for the risks, and/or compare sample premiums for different types of insurance policies.
Type:
Grant
Filed:
January 27, 2009
Date of Patent:
December 17, 2013
Assignee:
Atera Solutions, LLC
Inventors:
Michael Fredrick Weitermann, Lisa Marie Mrochinski
Abstract: A system and method of generating insurance risk samples and for comparing hypothetical and real insurance premiums of different insurance companies is disclosed. In some embodiments, one or more rating factors are defined and have a plurality of possible values at least partially defining an insurance risk. By generating random numbers that are used to select the values of these parameters, a user can generate sample risks, calculate sample premiums for the risks, and/or compare sample premiums for different types of insurance policies.
Type:
Grant
Filed:
August 23, 2002
Date of Patent:
January 27, 2009
Assignee:
Atera /Solutions LLC
Inventors:
Michael Frederick Weitermann, Lisa Marie Mrochinski