Patent ID: 7895062
Filing Date: 2011-02-22
Classification: G06Q

Abstract:
1. A system for optimizing an insurance application underwriting decision, of an insurance application, in a computer implemented insurance underwriting system, the system comprising: an input module that includes a process, represented by code, that processes an insurance application, the input module tangibly embodied in a computer device; a processor module, tangibly embodied in the computer device, that applies the process to a plurality of certified insurance applications, including parameters thereof, to render a second decision, a comparison module, tangibly embodied in the computer device, that compares, to generate a comparison, the first decisions upon which the certified insurance applications were placed in the case base, to the second decisions performed by applying the process, the comparison generating a result, the result relating to whether at least one of the decisions of the certified applications matches a corresponding underwriting decision performed by applying the process; and outputting the result of the comparison between the second decisions and the first decisions performed by applying the process; and further comprising a penalty module that generates at least one penalty based on the comparison of the second decisions performed by applying the process and the first decisions, the generates at least one penalty including aggregating (1) penalties for misclassifications, between the second decisions performed by applying the process and the first decisions, with (2) rewards for correct classifications, between the second decisions performed by applying the process and the first decisions; further comprising a redefinition module that redefines the plurality of underwriting rules based on the generated penalty and the comparison of the first decisions and the second decisions performed by applying the plurality of underwriting rules.