SYSTEMS AND METHODS FOR CERTIFIED LOCATION DATA COLLECTION, MANAGEMENT, AND UTILIZATION
Location information may be gathered, managed, stored, and/or otherwise utilized to determine unique geo-referenced locations. The geo-referenced locations may be utilized to inform various processes and decisions such as insurance underwriting, risk assessment, pricing, and risk/loss control.
1 . A method, comprising:
determining, by a processing device, a location associated with an insurance product;
determining, by the processing device and based on the location, at least one of a polygon identifier and a structure identifier associated with the insurance product; and
determining, by the processing device and based at least in part on the at least one of the polygon identifier and the structure identifier, a risk rating of the insurance product.
2 . The method of claim 1 , wherein the determining of the location comprises:
receiving an indication of at least one of an address and a coordinate.
3 . The method of claim 2 , wherein the receiving comprises:
receiving the coordinate from a mobile device of a potential customer of the insurance product.
4 . The method of claim 1 , wherein the determining of the at least one of the polygon identifier and the structure identifier associated with the insurance product comprises:
querying a database utilizing at least one of address information and coordinate information descriptive of the location; and
retrieving, from the database and in response to the querying, an indication of a relationship between (i) the at least one of the address information and the coordinate information and (ii) the at least one of the polygon identifier and the structure identifier.
5 . The method of claim 1 , wherein the determining of the risk rating of the insurance product comprises:
determining an amount of risk exposure associated with customers already existing at one or more of: (i) the same polygon identified by the polygon identifier, and (ii) the same structure identified by the structure identifier.
6 . The method of claim 1 , further comprising:
determining, based at least in part on the determined risk rating of the insurance product, an insurance premium of the insurance product.
7 . The method of claim 6 , further comprising:
receiving an indication of a request by a customer to purchase the insurance product; and
selling, after the determining of the insurance premium of the insurance product, the insurance product to the customer.
8 . The method of claim 7 , further comprising:
determining, after the selling of the insurance product to the customer, a claim made on the insurance product.
9 . The method of claim 8 , further comprising:
determining, after the determining of the claim made on the insurance product, a value of a risk rating for at least one of: (i) a polygon identified by the polygon identifier, and (ii) a structure identified by the structure identifier.
10 . The method of claim 9 , further comprising:
updating, based on the value of the risk rating for the at least one of: (i) the polygon identified by the polygon identifier, and (ii) the structure identified by the structure identifier, the risk rating of the insurance product.
11 . The method of claim 10 , further comprising:
updating, based on the value of the risk rating for the at least one of: (i) the polygon identified by the polygon identifier, and (ii) the structure identified by the structure identifier, the insurance premium of the insurance product.
12 . The method of claim 1 , wherein the processing device comprises a computer system of an insurance company.
13 . An apparatus, comprising:
a processor; and
a memory in communication with the processor, the memory storing instructions that when executed by the processor result in:
determining a location associated with an insurance product;
determining, based on the location, at least one of a polygon identifier and a structure identifier associated with the insurance product; and
determining, based at least in part on the at least one of the polygon identifier and the structure identifier, a risk rating of the insurance product.
14 . The apparatus of claim 13 , wherein the determining of the location comprises:
receiving an indication of at least one of an address and a coordinate.
15 . The apparatus of claim 14 , wherein the receiving comprises:
receiving the coordinate from a mobile device of a potential customer of the insurance product.
16 . The apparatus of claim 13 , wherein the determining of the at least one of the polygon identifier and the structure identifier associated with the insurance product comprises:
querying a database utilizing at least one of address information and coordinate information descriptive of the location; and
retrieving, from the database and in response to the querying, an indication of a relationship between (i) the at least one of the address information and the coordinate information and (ii) the at least one of the polygon identifier and the structure identifier.
17 . The apparatus of claim 13 , wherein the determining of the risk rating of the insurance product comprises:
determining an amount of risk exposure associated with customers already existing at one or more of: (i) the same polygon identified by the polygon identifier, and (ii) the same structure identified by the structure identifier.
18 . The apparatus of claim 13 , wherein the instructions, when executed by the processor, further result in:
determining, based at least in part on the determined risk rating of the insurance product, an insurance premium of the insurance product.
19 . The apparatus of claim 18 , wherein the instructions, when executed by the processor, further result in:
receiving an indication of a request by a customer to purchase the insurance product; and
selling, after the determining of the insurance premium of the insurance product, the insurance product to the customer.
20 . An article of manufacture comprising a computer-readable memory storing instructions that when executed by a processor result in:
determining a location associated with an insurance product;
determining, based on the location, at least one of a polygon identifier and a structure identifier associated with the insurance product; and
determining, based at least in part on the at least one of the polygon identifier and the structure identifier, a risk rating of the insurance product.
21 . The article of manufacture of claim 20 , wherein the determining of the location comprises:
receiving an indication of at least one of an address and a coordinate.
22 . The article of manufacture of claim 21 , wherein the receiving comprises:
receiving the coordinate from a mobile device of a potential customer of the insurance product.
23 . The article of manufacture of claim 20 , wherein the determining of the at least one of the polygon identifier and the structure identifier associated with the insurance product comprises:
querying a database utilizing at least one of address information and coordinate information descriptive of the location; and
retrieving, from the database and in response to the querying, an indication of a relationship between (i) the at least one of the address information and the coordinate information and (ii) the at least one of the polygon identifier and the structure identifier.
24 . The article of manufacture of claim 20 , wherein the determining of the risk rating of the insurance product comprises:
determining an amount of risk exposure associated with customers already existing at one or more of: (i) the same polygon identified by the polygon identifier, and (ii) the same structure identified by the structure identifier.
25 . The article of manufacture of claim 20 , wherein the instructions, when executed by the processor, further result in:
determining, based at least in part on the determined risk rating of the insurance product, an insurance premium of the insurance product.
26 . The article of manufacture of claim 25 , wherein the instructions, when executed by the processor, further result in:
receiving an indication of a request by a customer to purchase the insurance product; and
selling, after the determining of the insurance premium of the insurance product, the insurance product to the customer.