G - Physics – 06 – Q
Patent
G - Physics
06
Q
G06Q 40/08 (2012.01)
Patent
CA 2604979
The invention relates to a system and method for evaluating valuations groups of insurance policies. The steps involve a) retrieving at least one characteristic for each policy from the plurality of characteristics for each policy in the group of policies; b) obtaining at least one derived characteristics for each policy in the group of policies from plurality of characteristics for each policy in the group of policies; c) calculating a group expected value for each of the at least one characteristic and each of the at least one derived characteristic; d) receiving from the input device, a set of tolerances for each of the at least one characteristics and each of the at least one derived characteristic; e) minimizing a linear objective function with a set of policy weights wherein a sum of an at least one weighted characteristic, obtained by multiplying the policy weight with one each one of the at least one characteristic and each one of the at least one derived characteristic, is equal to or within the received tolerance of the group expected value for each of the one or more characteristic and each of the one or more derived characteristic; f) selecting policies with a non-zero policy weight; g) calculating at least one risk valuation result using the selected policies; and h) outputting the result of the at least one risk valuation result to the output device. The results of the at least one risk valuation result using the selected policies substantially correspond to the results of calculating the at least one risk valuation result on the group of policies.
Dimock Stratton Llp
Phillips Peter
LandOfFree
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