IP Library › Granted Patent US 10,719,882

Granted Patent B2

US 10,719,882 · App. 15/916,152 · Granted Jul 21, 2020

Systems and methods for certified location data collection, management, and utilization

Inventors: Dean M. Collins (Manchester, CT); Thomas J. Roberts (Wallingford, CT); Thomas J. Maddalena (Winsted, CT); Ann S. Tuttle (Windsor, CT); Michael Kimball (East Hartford, CT)

Assignee: The Travelers Indemnity Company

G06Q40/08 G06F16/22 G06F16/29

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Quick Facts

Patent No.: US 10,719,882
App. No.: 15/916,152
Granted: Jul 21, 2020
Kind: B2

External Links

USPTO Patent Center↗ Full Patent PDF↗

Abstract

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.

Claims (77)

1. A method for managing risk exposure with respect to a particular building having multiple mailing addresses on different streets, comprising:

identifying, by a central computer system, a first location associated with a first product, wherein the identifying of the first location associated with the first product comprises receiving, from a mobile device of a first potential customer of the first product, at least one of first address information and first coordinate information descriptive of the first location;

identifying, by the central computer system and based on a comparison of the first location to stored location data, a unique building identifier identifying a building associated with the first product, wherein the identifying of the unique building identifier associated with the first product comprises retrieving, from a database, an indication of a data storage relationship between (i) the at least one of the first address information and the first coordinate information and (ii) the unique building identifier;

computing, by the central computer system and based at least in part on the unique building identifier, a risk rating of the first product, wherein the computing of the risk rating of the first product comprises, calculating a total amount of risk exposure associated with customers already having products associated with the building identified by the unique building identifier;

receiving an indication of a request by the first potential customer to purchase the first product;

determining that the calculated total amount of risk exposure associated with customers already having products associated with the building identified by the unique building identifier falls above a predetermined threshold; and

executing an underwriting action comprising, declining, after the determining that the calculated total amount of risk exposure falls above the predetermined threshold, to sell the first product to the first potential customer.

2. The method of claim 1 , wherein the identifying of the unique building identifier identifying a building associated with the first product further comprises:

querying a database utilizing the at least one of the first address information and the first coordinate information descriptive of the first location.

3. The method of claim 1 , wherein the total amount of risk exposure associated with customers already having products associated with the building identified by the unique building identifier comprises an aggregate metric based on historic losses for the building.

4. The method of claim 1 , wherein the total amount of risk exposure associated with customers already having products associated with the building identified by the unique building identifier comprises an aggregate metric based on stored data representing at least one of a severe weather event, a natural disaster, an evacuation warning, a catastrophic event, an earthquake, a tornado, a hurricane, a blizzard, a mudslide, a typhoon, a war, and a terrorist attack.

5. The method of claim 1 , further comprising:

determining, by the central computer system, the data storage relationship between (i) the at least one of the first address information and the first coordinate information and (ii) the unique building identifier.

6. The method of claim 5 , wherein the determining of the data storage relationship between the (i) the at least one of the first address information and the first coordinate information and (ii) the unique building identifier, comprises:

identifying a street address from the first address information; and

identifying the first coordinate information from stored land polygon data, wherein the stored land polygon is associated with a range of street addresses that comprise the identified street address.

7. The method of claim 1 , wherein the calculating of the total amount of risk exposure associated with customers already having products associated with the building identified by the unique building identifier, comprises:

determining, for each customer of a plurality of existing customers, a coordinate descriptive of an address for the existing customer; and

comparing the coordinates descriptive of the addresses for the existing customers to at least one coordinate stored in relation to the building identified by the unique building identifier.

8. The method of claim 7 , wherein the at least one coordinate stored in relation to the building identified by the unique building identifier comprises one or more of a structure centroid coordinate and a structure vertex coordinate.

9. The method of claim 1 , wherein the computing of the risk rating of the first product, further comprises:

calculating a total amount of risk exposure associated with one or more structures within a predefined proximity to the first location; and

aggregating the total amount of risk exposure associated with customers already having products associated with the building identified by the unique building identifier and the total amount of risk exposure associated with one or more structures within a predefined proximity to the first location.

10. The method of claim 9 , wherein the determining that the calculated total amount of risk exposure associated with customers already having products associated with the building identified by the unique building identifier falls above the predetermined threshold, comprises:

determining that the aggregated total amount of risk exposure associated with customers already having products associated with the building identified by the unique building identifier and the total amount of risk exposure associated with one or more structures within a predefined proximity to the first location, falls above the predetermined threshold.

11. A system for managing risk exposure with respect to a particular building having multiple mailing addresses on different streets, comprising:

an electronic processing device; and

a non-transitory memory device in communication with the electronic processing device and storing (i) a plurality of unique building identifiers, (ii) stored location data comprising at least one of a plurality of address information and a plurality of geographic coordinate information, (iii) a predetermined risk exposure threshold, (iv) existing underwriting product data, and (v) instructions that when executed by the electronic processing device result in:

identifying a first location associated with a first product, wherein the identifying of the first location associated with the first product comprises receiving, from a mobile device of a first potential customer of the first product, at least one of first address information and first coordinate information descriptive of the first location;

identifying, based on a comparison of the at least one of the first address information and the first coordinate information descriptive of the first location to the stored location data, a unique building identifier, from the plurality of unique building identifiers, identifying a building associated with the first product, wherein the identifying of the unique building identifier associated with the first product comprises retrieving, from the non-transitory memory device, an indication of a data storage relationship between (i) the at least one of the first address information and the first coordinate information and (ii) the unique building identifier;

computing, based at least in part on the unique building identifier, a risk rating of the first product, wherein the computing of the risk rating of the first product comprises, calculating, based on the existing underwriting product data, a total amount of risk exposure associated with customers already having products associated with the building identified by the unique building identifier;

receiving an indication of a request by the first potential customer to purchase the first product;

12. The system of claim 11 , wherein the identifying of the unique building identifier identifying a building associated with the first product further comprises:

querying a database utilizing the at least one of the first address information and the first coordinate information descriptive of the first location.

13. The system of claim 11 , wherein the total amount of risk exposure associated with customers already having products associated with the building identified by the unique building identifier comprises an aggregate metric based on historic losses for the building.

14. The system of claim 11 , wherein the total amount of risk exposure associated with customers already having products associated with the building identified by the unique building identifier comprises an aggregate metric based on stored data representing at least one of a severe weather event, a natural disaster, an evacuation warning, a catastrophic event, an earthquake, a tornado, a hurricane, a blizzard, a mudslide, a typhoon, a war, and a terrorist attack.

15. The system of claim 11 , wherein the instructions, when executed by the electronic processing device, further result in:

determining the data storage relationship between (i) the at least one of the first address information and the first coordinate information and (ii) the unique building identifier.

16. The system of claim 15 , wherein the determining of the data storage relationship between the (i) the at least one of the first address information and the first coordinate information and (ii) the unique building identifier, comprises:

identifying a street address from the first address information; and

identifying the first coordinate information from stored land polygon data, wherein the stored land polygon is associated with a range of street addresses that comprise the identified street address.

17. The system of claim 11 , wherein the calculating of the total amount of risk exposure associated with customers already having products associated with the building identified by the unique building identifier, comprises:

determining, for each customer of a plurality of existing customers, a coordinate descriptive of an address for the existing customer; and

comparing the coordinates descriptive of the addresses for the existing customers to at least one coordinate stored in relation to the building identified by the unique building identifier.

18. The system of claim 17 , wherein the at least one coordinate stored in relation to the building identified by the unique building identifier comprises one or more of a structure centroid coordinate and a structure vertex coordinate.

19. The system of claim 11 , wherein the computing of the risk rating of the first product, further comprises:

calculating a total amount of risk exposure associated with one or more structures within a predefined proximity to the first location; and

20. The system of claim 19 , wherein the determining that the calculated total amount of risk exposure associated with customers already having products associated with the building identified by the unique building identifier falls above the predetermined threshold, comprises:

21. A system for managing exposure with respect to a particular building having multiple mailing addresses on different streets, comprising:

an electronic processing device; and

receiving an indication of a request by the first potential customer to purchase the first product;

selling, after the determining that the calculated total amount of risk exposure falls below the predetermined threshold, the first product to the first potential customer.

22. The system of claim 21 , wherein the identifying of the unique building identifier identifying a building associated with the first product further comprises:

querying a database utilizing the at least one of the first address information and the first coordinate information descriptive of the first location.

23. The system of claim 21 , wherein the instructions, when executed by the electronic processing device, further result in:

determining, based at least in part on the determined risk rating of the first product, a premium of the first product.

24. The system of claim 21 , wherein the total amount of risk exposure associated with customers already having products associated with the building identified by the unique building identifier comprises an aggregate metric based on historic losses for the building.

25. The system of claim 21 , wherein the instructions, when executed by the electronic processing device, further result in:

determining the data storage relationship between (i) the at least one of the first address information and the first coordinate information and (ii) the unique building identifier.

26. The system of claim 25 , wherein the determining of the data storage relationship between the (i) the at least one of the first address information and the first coordinate information and (ii) the unique building identifier, comprises:

identifying a street address from the first address information; and

identifying the first coordinate information from stored land polygon data, wherein the stored land polygon is associated with a range of street addresses that comprise the identified street address.

27. The system of claim 26 , wherein the instructions, when executed by the electronic processing device, further result in:

identifying, based on the determined data storage relationship between the (i) the at least one of the first address information and the first coordinate information and (ii) the unique building identifier, one or more potential new customers that are located within the same building identified by the unique building identifier as the customers already having products associated with the building identified by the unique building identifier.

28. The system of claim 21 , wherein the calculating of the total amount of risk exposure associated with customers already having products associated with the building identified by the unique building identifier, comprises:

determining, for each customer of a plurality of existing customers, a coordinate descriptive of an address for the existing customer; and

comparing the coordinates descriptive of the addresses for the existing customers to at least one coordinate stored in relation to the building identified by the unique building identifier.

29. The system of claim 28 , wherein the at least one coordinate stored in relation to the building identified by the unique building identifier comprises one or more of a structure centroid coordinate and a structure vertex coordinate.

Assignments (1)

ASSIGNMENT OF ASSIGNOR'S INTEREST Recorded Apr 21, 2020

From: COLLINS, DEAN M.; ROBERTS, THOMAS J.; MADDALENA, THOMAS J.; TUTTLE, ANN S.; KIMBALL, MICHAEL

To: THE TRAVELERS INDEMNITY COMPANY

Reel/Frame 052458/0228 →

Continuity (3)

Continuation 13836429 · Mar 15, 2013

Provisional Application 61616629 · Mar 28, 2012

Related Publication 20180204287A1 · Jul 19, 2018