PLATFORM FOR AUTONOMOUS MANAGEMENT OF RISK TRANSFER
A system for autonomous management of risk transfer is provided, comprising a network-connected server configured to provide an interface for a requester to submit a request; an automated underwriting processor configured to: create a contract block by compiling the request into a computational graph-based format, link the contract block to the requester, store the contract block into memory, retrieve a plurality of available underwriting agreements from memory, and create an offer list by perform computational graph operations on the contract block to determine viable risk-transfer agreements; and presenting the offer list to the requester.
1 . A system for autonomous management of risk transfer, comprising;
a network-connected server comprising a memory, a processor, and a plurality of programming instructions stored in the memory thereof and operable on the processor thereof, wherein the programmable instructions, when operating on the processor, cause the processor to:
provide an interface for a requester to submit a request; and
an automated underwriting processor comprising a memory, a processor, and a plurality of programming instructions stored in the memory thereof and operable on the processor thereof, wherein the programmable instructions, when operating on the processor, cause the processor to:
create a contract block by compiling the request into a computational graph-based format;
link the contract block to the requester;
store the contract block into memory;
retrieve a plurality of available underwriting agreements from memory; and
create an offer list by perform computational graph operations on the contract block to determine at least a risk-transfer agreement based at least on calculated risk associated with the request, contextual consideration of an existing contract portfolio, and the plurality of available underwriting agreements;
wherein the offer list is returned to the network-connected server to be presented to the requester.
2 . The system of claim 1 , wherein at least a term and a condition of an offer are added to the contract block after the requester agrees to the terms of an offer from the offer list.
3 . The system of claim 2 , further comprising a claims processor comprising a memory, a processor, and a plurality of programming instructions stored in the memory thereof and operable on the processor thereof, wherein the programmable instructions, when operating on the processor, cause the processor to:
receive a claim request from an insured;
retrieve a contract block linked to the insured;
process the claims request to determine a payout amount based at least on a term and a condition stored in the graph-based dataset; and
process the payout amount using a billing and payments manager.
4 . The system of claim 1 , wherein at least a portion of the information contained in the contract block is risk characterization of the contract block, allowing external operations to be peril- and model-agnostic.
5 . A method for autonomous management of risk transfer, comprising the steps of:
(a) providing an interface for a requester to submit a request, with a network-connected server;
(b) creating a contract block by compiling the request into a computational graph-based format, with an automated underwriting processor;
(c) linking the contract block to the requester, with the automated underwriting processor;
(d) storing the contract block into memory, with the automated underwriting processor;
(e) retrieving a plurality of available underwriting agreements from memory, with the automated underwriting processor;
(f) creating an offer list by perform computational graph operations on the contract block to determine at least a risk-transfer agreement based at least on calculated risk associated with the request, contextual consideration of an existing contract portfolio, and the plurality of available underwriting agreements, with the automated underwriting processor; and
(g) presenting the offer list to the requester, with the network-connected server.
6 . The method of claim 5 , wherein at least a term and a condition of an offer are added to the contract block after the requester agrees to the terms of an offer from the offer list.
7 . The method of claim 6 , further comprising a claims processor comprising a memory, a processor, and a plurality of programming instructions stored in the memory thereof and operable on the processor thereof, wherein the programmable instructions, when operating on the processor, cause the processor to:
receive a claim request from an insured;
retrieve a contract block linked to the insured;
process the claims request to determine a payout amount based at least on a term and a condition stored in the graph-based dataset; and
process the payout amount using a billing and payments manager.
8 . The method of claim 5 , wherein at least a portion of the information contained in the contract block is risk characterization of the contract block, allowing external operations to be peril- and model-agnostic.