Apparatuses, methods, and systems for providing a risk scoring engine user interface
The present disclosure describes an approach to constructing and implementing risk rating products that provides a number of advantages. Instead of hard-coding attributes of a risk rating scheme, which requires the assistance of a trained programming specialist for any modifications, adjustments, or new products, the present invention provides a set of modular tools that assist non-specialists in on-the-fly generation and implementation of risk rating products. The modularity of this approach facilitates the modification and/or updating of a system component without affecting the operation of other components. Described herein are embodiments of system tools configured to read a risk rating scheme data-structure and generate a user interface whereby a user may enter information characteristic of an insurable risk and receive risk assessments, evaluations, and/or financial metrics associated with a candidate insurable risk.
1. A processor-implemented method to provide a reinsurance product risk assessment, comprising:
reading a reinsurance product database for reinsurance product identifying base criteria;
providing a reinsurance product selecting interface to display the reinsurance product identifying base criteria and allow a user to select among the reinsurance product identifying base criteria;
loading a reinsurance product data-structure from the reinsurance product database based on a user's selections from the reinsurance product selecting interface;
reading risk specific data-structure elements from the reinsurance product data-structure;
generating a reinsurance risk user interface from the risk specific data-structure elements;
providing a reinsurance risk user interface to a user;
receiving user specifications via the reinsurance risk user interface;
retrieving logic sets specified by the reinsurance product data-structure;
applying logic sets to user specifications; and,
providing a reinsurance product specific risk assessment to the user if the user's specifications were acceptable.
2. The method of claim 1 , wherein the reinsurance product data-structure comprises an XML document.
3. The method of claim 1 , wherein the risk specific data-structure elements comprise input fields admitting information descriptive of an insurable risk.
4. The method of claim 3 , wherein the insurable risk is a property and the reinsurance product specific quote is directed to a property casualty reinsurance product.
5. The method of claim 4 , wherein the user specifications comprise a property geocode.
6. The method of claim 4 , wherein the user specifications comprise property construction characteristics.
7. The method of claim 1 , wherein the risk specific data-structure elements include a set of lookup table calls to a lookup tables database.
8. The method of claim 1 , wherein the reinsurance product specific risk assessment comprises at least one financial metric.
9. The method of claim 8 , wherein the financial metric comprises a profit margin.
10. The method of claim 1 , wherein providing a reinsurance product specific risk assessment comprises:
passing the user specifications and elements of the risk specific data-structure to an external event loss table generator;
receiving an event loss table from the external event loss table generator corresponding to the user specifications and elements of the risk specific data-structure; and
generating a reinsurance product specific risk assessment based on elements of the event loss table.
11. The method of claim 10 , wherein the user specifications and elements of the risk specific data-structure are passed to the external event loss table generator via an interface module.
12. The method of claim 11 , wherein the interface module further comprises components configured to translate risk specific data-structure coded information to external event loss table generator coded information.
13. The method of claim 1 , providing a reinsurance product specific risk assessment comprises:
querying an event loss table database based on the user specifications and elements of the risk specific data-structure;
receiving event loss table values from the event loss table database; and
generating risk assessment evaluation information based on the event loss table values.
14. The method of claim 13 , wherein the user specifications and elements of the risk specific data-structure are passed to the event loss table database via an interface module.
15. The method of claim 14 , wherein the interface module further comprises components configured to translate risk specific data-structure coded information to event loss table database coded information.
16. An apparatus to provide a reinsurance product risk assessment, comprising:
a memory;
a processor disposed in communication with said memory, and configured to issue a plurality of instructions stored in the memory, wherein the instructions issue signals to:
read a reinsurance product database for reinsurance product identifying base criteria;
provide a reinsurance product selecting interface to display the reinsurance product identifying base criteria and allow a user to select among the reinsurance product identifying base criteria;
load a reinsurance product data-structure from the reinsurance product database based on a user's selections from the reinsurance product selecting interface;
read risk specific data-structure elements from the reinsurance product data-structure;
generate a reinsurance risk user interface from the risk specific data-structure elements;
provide a reinsurance risk user interface to a user;
receive user specifications via the reinsurance risk user interface;
retrieve logic sets specified by the reinsurance product data-structure;
apply logic sets to user specifications; and,
provide a reinsurance product specific risk assessment to the user if the user's specifications were acceptable.
17. A medium readable by a processor to provide a reinsurance product risk assessment, comprising:
instruction signals in the processor readable medium, wherein the instruction signals are issuable by the processor to:
read a reinsurance product database for reinsurance product identifying base criteria;
provide a reinsurance product selecting interface to display the reinsurance product identifying base criteria and allow a user to select among the reinsurance product identifying base criteria;
load a reinsurance product data-structure from the reinsurance product database based on a user's selections from the reinsurance product selecting interface;
read risk specific data-structure elements from the reinsurance product data-structure;
generate a reinsurance risk user interface from the risk specific data-structure elements;
provide a reinsurance risk user interface to a user;
receive user specifications via the reinsurance risk user interface;
retrieve logic sets specified by the reinsurance product data-structure;
apply logic sets to user specifications; and,
provide a reinsurance product specific risk assessment to the user if the user's specifications were acceptable.