Patent ID: 8738408

Claim:
A method for rating insurance products using a programmed computer system comprising: receiving a coordinate pair comprising a longitude and a latitude of a location associated with an insurance product; determining a target coordinate grid block bounded by latitude and longitude lines, which rectangular grid block contains the location; querying a database for a first set of existing data associated with the target coordinate grid block, wherein the existing data was associated with the target coordinate grid block prior to receiving the coordinate pair; automatically determining that the quantity of the first set of existing data associated with the target coordinate grid block is below a threshold level; in response to determining that the quantity of existing data associated with the coordinate grid block is below the threshold level, defining a current ring of coordinate grid blocks surrounding the coordinate grid block; querying the database for a supplemental set of existing data associated with the current ring of coordinate grid blocks; querying a database for a second set of existing data associated with a regulator, which regulates insurance policies in a geographic area comprising the location; calculating a rating for the insurance product based at least in part on the data in the first set of existing data, the supplemental set of existing data, and the second set of existing data; and transmitting the calculated rating to a user.