Insurance Policy Data Analysis and Decision Support System and Method

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United States of America Patent

SERIAL NO

13115983

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Abstract

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A method for determining a fire risk score includes extracting data from real estate values, map data, FIRS data, and building data that includes an address, an age, a size, an indication whether or not sprinklers are present, and an indication whether one or more smoke detectors are remotely monitored; assigning weights to the extracted building data; identifying one or more fire stations near the building; obtaining or determining a driving time from the one or more fire stations to the building; performing a statistical regression analysis to: at least the driving time from the one or more fire stations to the building, the age of the building and the size of the building to determine an expected loss to the building in the event of a fire, and calculating a fire risk score for the building to assist an insurance company assess a risk of insuring the building.

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Patent Owner(s)

Patent OwnerAddress
UL LLC333 PFINGSTEN ROAD NORTHBROOK IL 60062

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Inventor(s)

Inventor Name Address # of filed Patents Total Citations
Chapin, J T Alpharetta, US 1 66
Gandhi, Pravinray Elk Grove Village, US 1 66
Hasbrook, Christopher E Chicago, US 1 66
Kerber, Stephen I Mundelein, US 1 66

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