Patent ID: 8046243

Claim:
A method for providing an initial valuation of an insurance premium based on EPC-related data, comprising: providing a plurality of program interfaces for allowing one or more accessing applications residing on a variety of systems to access shared EPC-related data, the program interfaces forming a multi-layer framework including at least a service layer, a data definition layer, and an abstract data model layer, the abstract data model layer defining the shared EPC-related data that includes master data and event data, the event data describing a specific observation of the an Electronic Product Code (EPC) during a business process, and the master data describing a business context for interpreting the event data; initiating setup of an insurance policy; determining one or more objects covered by the insurance policy based on EPC-related data associated with the one or more objects; valuating the one or more objects based on the associated EPC-related data; and determining an insurance premium for the insurance policy based on the valuation of the one or more objects.