Patent ID: 8694339
Filing Date: 2014-04-08
Classification: G06Q

Abstract:
1. A method, comprising: calculating, by a computing device, an element factor for each of a plurality of elements based on a modeled company loss for a plurality of events and a modeled industry loss for the plurality of events; assigning a weight that modifies the modeled company loss to each event, the weight being based on a value of the modeled company loss for each event in relation to a defined range of losses in a layer of interest for each event, wherein the defined range of losses for each event is less than an entire range of losses for each event; modify the modeled company loss for each event based on the weight assigned to the corresponding event; calculating, by the computing device, a modeled company index loss for each element based on the element factor and the modified modeled industry loss for each of the corresponding elements for each of a plurality of events; and comparing, by the computing device, the modeled company index loss for each element to the modeled company loss for each element for each of the events, wherein the comparing occurs within the layer of interest to determine a basis risk for each of the events.