Patent ID: 8635090

Claim:
A computer system for providing a recommendation of at least one insurance coverage package for a current entity from among a plurality of commercial insurance coverages, the system comprising: a data storage device configured to receive, store, and provide access to historical entity data and insurance coverage package data; a computer processor configured to execute program instructions and retrieve the historical entity data and the insurance coverage package data from the data storage device; a memory, coupled to the computer processor, configured to store program instructions for execution by the computer processor; a recommendation engine comprising the program instructions stored in the memory; the program instructions that when executed by the computer processor, cause the computer processor to perform the steps of: receiving current entity data, creating, using a clustering system, a first plurality of historical entity data clusters, wherein each of the first plurality of historical entity data clusters includes a plurality of historical entity data records, matching the current entity data to a first cluster of the first plurality of historical entity data clusters, creating a current entity representative record based on the first cluster, wherein the current entity representative record is different from the current entity data, creating, using the clustering system, a second plurality of historical entity data clusters for each of a plurality of insurance coverage packages, wherein the creating of the second plurality of data clusters for each of the plurality of insurance coverage packages employs data of historical entities to which an insurance coverage package was issued, creating, for each of the second plurality of historical entity data clusters, a historical entity representative record, matching the current entity representative record to one or more of the historical entity representative records, and identifying one or more of the plurality of insurance coverage packages associated with the matched historical entity representative records; a communication device, coupled to the computer processor, configured to present the identified one or more of the plurality of insurance coverage packages; and a payment device configured to process a payment associated with one of the presented one or more of the plurality of insurance coverage packages, wherein processing the payment establishes an insurance contract with the current entity based on the one of the presented one or more of the plurality of insurance coverage packages.