Patent ID: 8036919

Claim:
A method for determining the prospective profitability and productivity of a licensed insurance professional, the method comprising the steps of: obtaining first data concerning a selected licensed insurance professional from at least one source of said first data; obtaining historical data concerning a plurality of licensed insurance professionals from at least one source of said historical data; obtaining external data from at least one external data source including variables predictive of at least one of profitability and productivity of said licensed insurance professionals; utilizing a data processor, normalizing said historical data using actuarial transformations to generate working data; utilizing said data processor, calculating at least one of a loss ratio, frequency and lapse rate associated with each of said plurality of licensed insurance professionals based on said working data; utilizing said data processor, calculating at least one of a cumulative loss ratio, frequency and an average lapse rate associated with said variables based on said working data; identifying statistical relationships between (i) said at least one of a cumulative loss ratio, frequency and an average lapse rate and (ii) said variables; creating a statistical model utilizing ones of said variables; generating an overall prediction of at least one of profitability and productivity of said licensed insurance professionals; and utilizing said data processor, generating a score for said selected licensed insurance professional indicative of at least one of profitability and productivity using said statistical model.