Patent ID: 8271308

Claim:
A method for providing an initial valuation of an insurance premium based on Electronic Product Code-related (EPC-related) data, comprising: receiving product data from a sensor during a business process; filtering the product data according to filtering criteria set by a capturing application; incorporating the product data into EPC-related data, the EPC-related data representing a business context of the business process; accessing the EPC-related data through a plurality of program interfaces, the program interfaces forming a multi-layer framework including at least a service layer, a data definition layer, and an abstract data model layer; initiating setup of an insurance policy; determining one or more objects covered by the insurance policy based on EPC-related data associated with the one or more objects; evaluating the one or more objects based on the associated EPC-related data; and determining an insurance premium for the insurance policy based on the valuation of the one or more objects.