System and method for forecasting frequencies associated to future loss and for related automated operation of loss resolving units
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United States of America Patent
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Jan 28, 2014
Grant Date -
Jun 7, 2012
app pub date -
Dec 2, 2011
filing date -
Dec 3, 2010
priority date (Note) -
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Abstract
Forecasting frequencies associated with future loss and loss distributions for individual risks associated with operating units, each which have a measurable liability exposure, is accomplished via independently operated liability risk drivers. The frequencies associated with future loss and loss distributions are also forecasted for an automated operation of a loss resolving unit via a control unit controller. When a loss occurs at a loss unit, measure parameters are measured and transmitted to the control unit controller. The control unit controller dynamically assigns the measure parameters to the liability risk drivers and tunes the operation of the loss resolving unit by resolving the loss via the loss resolving unit.
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