Patent ID: 7610210
Filing Date: 2009-10-27
Classification: G06Q

Abstract:
1. A computerized method of insuring a property comprising: identifying a plurality of Standard Industrial Codes (SICs), wherein each SIC represents a manner of use for a potentially insurable property; storing the plurality of SICs in a computer; associating each SIC with a SIC-specific underwriting guideline in the computer; receiving, by the computer, a request to insure the property by entering into the computer data representing the property; receiving, by the computer, an indication of an intended use of the property by selecting with the computer a SIC from the plurality of stored SICs; collecting sensor data related to the property and storing the collected sensor data in the computer; and calculating, by the computer, a premium for an insurance policy for the property based at least in part on the collected sensor data, wherein an effect of the collected sensor data on the calculating of the premium is determined based on the selected SIC.