Patent Document ID: 7844477
Application ID: 10173000
Patent Status: 1

Claim One:
1. A method for underwriting an insurance application, implemented by a tangibly embodied computer device, comprising the steps of: receiving a request to underwrite an insurance application, where the request includes information about a plurality of application components; evaluating the plurality of application components based on rules associated with the application components; assigning measurements to the application components, such that each application component is assigned a level; and assigning, by the computer device, each of the application components to a specific component category out of a plurality of component categories based on the assigned measurements, including: each component category being respectively defined as cat 1 , cat 2 , and cat 3 , and cat 1 being assigned a level 1 , cat 2 being assigned level 2 , and cat 3 being assigned level 3 ; respectively determining a particular category to which to assign each application component based on sequentially: determining whether each application component possesses a level of level 1 or higher and assigning such application component to cat 1 ; determining whether each application component possesses a level of level 2 or higher and assigning such application component to cat 2 ; determining whether each application component possesses a level of level 3 or higher and assigning such application component to cat 3 ; assigning the insurance application to a category based on a distribution of what component categories the application components are assigned.