Patent ID: 7908157
Filing Date: 2011-03-15
Classification: G06Q

Abstract:
1. A computer based system for providing to a prospective insured a set of premium versus loss data for a reinsurance participation plan for workers compensation insurance coverage, said system comprising: a. an input device for receiving data about said prospective insured, said data being sufficient to categorize said prospective insured into an Expected Ultimate Loss Group, EULG; b. a first computer configured to calculate said set of premium versus loss data for said EULG, said premium versus loss data being described by the equation: c. an output device for presenting said set of premium versus loss data to said prospective insured; and wherein said computer based system further comprises a second computer configured to calculate said set of premium versus loss data using the equation: and wherein said premium ratio function is approximately described over a first CDF range by the equation: where: CDF is greater than zero and less than one; A is a non-zero slope of said premium ratio function in said first CDF range; and p