Patent ID: 8315934

Claim:
An insurance rate server apparatus comprising: An insurance rate processor; and memory storing historical insurance information in a first database, storing a rate model in a second database, and further storing computer readable instructions that, when executed, cause the insurance rate server apparatus to perform: analyzing the historical insurance information to determine, for each of a plurality of rate factors, an insurance risk associated with each of multiple different values of each rate factor; determining one or more assumptions based on historical insurance information, wherein each assumption is true for at least a predetermined percentage of historical insured individuals in the historical insurance information; selecting a subset of the plurality of rate factors that, combined with the one or more assumptions, yields a substantially accurate insurance estimate when a value input filter corresponding to the subset of rate factors is applied to the historical insurance information and is input into an insurance rate model based on the subset of the plurality of rate factors, wherein each rate factor of the subset of the plurality of rate factors comprises non-personally identifying information; receiving via a network interface module, user input for each of the subset of the plurality of rate factors using each corresponding value input filter; and automatically determining an estimated insurance premium using the rate model based on the received user input.