Patent ID: 8639617
Filing Date: 2014-01-28
Classification: G06Q

Abstract:
1. A method for forecasting frequencies associated with future loss and loss distributions for individual risks associated with a plurality of operating units, each of the plurality of operating units having at least one measurable liability exposure, comprising: dynamically selecting, by a hardware control unit controller, a subset of measure parameters and measurable parameters transmitted by measuring devices assigned to loss units, the measuring devices dynamically scanning for the measure parameters and the measurable measure parameters, which capture at least one of a dynamic process and a static characteristic of at least one of a plurality of liability risk drivers, when a loss is incurred by at least one of the loss units; dynamically assigning, by the hardware control unit controller, the subset of the measure parameters and the measurable parameters to the at least one of a plurality of liability risk drivers; selecting a set of the plurality of liability risk drivers, by a driver selector of the hardware control unit controller, that parameterizes the at least one measurable liability exposure for at least one of the plurality of operating units and generating a liability exposure signal for the at least one of the plurality of operating units, by the hardware control unit controller, based on the selected subset of measure parameters and measurable parameters; dynamically adapting, by the driver selector, the set of liability risk drivers by varying the liability risk drivers based on periodic changes in the generated liability exposure signal; and automatically tuning, by the hardware control unit controller, liability risk driven interaction between a loss resolving unit and the at least one of the plurality of operating units based on the adapted set of liability risk drivers.