Patent ID: 8515783

Claim:
A web-based process for quantitatively assessing risks associated with a selected enterprise for the purpose of enabling or disabling offering of insurance coverage on the enterprise, the enterprise engaged in a computer services industry, the process utilizes a computer system with a processor for collecting and processing information, the process comprising the steps of: (a) assigning a plurality of pre-defined business-related component activities to the computer services industry, the plurality of component activities assigned to the computer services industry are pre-defined activities identified as typically performed by an enterprise included within the computer services industry and include a quantifiable risk; (b) assigning a plurality of known risk factors to each insurance coverage classification being offered to the enterprise included within the computer services industry, each risk factor is an actual risk exposure potentially occurring as part of the enterprise performing at least one of the assigned component activities, each insurance coverage classification includes risk factors having common characteristics; (c) generating a series of known risk factors based on the insurance coverage classification being analyzed, the series of risk factors is generated from the plurality of known risk factors assigned to each insurance coverage classification being offered; (d) developing at least one matrix including the component activities assigned to the computer services industry and the generated series of known risk factors for assessing the identified component activities with respect to the series of known risk factors; (e) determining within the at least one matrix an intersection of a risk factor and an associated risk activity, wherein the intersection provides a numeric activity score for each component activity assigned to the computer services industry and each assigned risk factor, the numeric activity score is based on a likelihood of a claim and an amount of a claim based on a risk associated with a particular risk factor occurring with respect to a given identified component activity of the enterprise; (f) using the processor to process activity scores stored for each risk factor and calculate a risk rating for each associated component activity; (g) upon said risk rating for a selected activity exceeding a selected decline score, automatically disabling, by the processor, the offering of insurance coverage on the associated component activity; and (h) upon said risk rating for a selected activity not exceeding said decline score, enabling the automatic offering, by the processor, of insurance coverage of said component activity.