Abstract: Proposed is a digital, state discrete system and platform and corresponding method thereof, for automated underwriting and pricing of individually predicted loss covers using a combination of a Markov Chain modelling structure and configurable elements at least comprising states and/or state transitions and/or cashflows specific to the product it instantiates. The digital system comprises a simulation engine using deterministic transition and interest rates of a discrete process to conduct calculations per policy, wherein parts of the process are used with stochastic transition and interest rates of a discrete process for conducting simulations on portfolio level.

Abstract: Proposed is a digital finite state system and platform and corresponding method thereof, for processing a digital object by object-state triggered processes. The object being capturable by a digital set of defined parameter values comprising at least structural parameter values or state parameter values associated with the object, wherein the digital set of defined parameter values define an initial state and/or set-up of the object, wherein the object is automatedly processed by the digital systems by processing the digital object by a sequence of process steps through which the digital object passes from an initial state to a final state.