Patent ID: 8676613
Filing Date: 2014-03-18
Classification: G06Q

Abstract:
1. A method for rating insurance products using a programmed computer system comprising: receiving input from a user including a coordinate pair comprising a longitude and a latitude of a location; determining a target coordinate grid block by truncating a decimal representation of the longitude and latitude of the location with a processor; querying a database in communication with the processor for a first set of existing data associated with the target coordinate grid block, wherein the existing data was associated with the target coordinate grid block prior to receiving the coordinate pair; testing the first set of existing data against a minimum amount threshold using the processor; if the first set of existing data fails to include the minimum amount of data, determining a current ring of coordinate grid blocks grid adjacent to and surrounding the target grid block with the processor; querying the database for a second set of existing data associated with each coordinate grid block in the current ring of coordinate grid blocks; testing the second set of existing data against the minimum amount threshold using the processor; if the second set of existing data passes the test by including at least the minimum amount of data, calculating a rating for an insurance product based at least in part on an analysis of the data in the first set and the second set; and communicating the resulting rating for the insurance product to the user.