SYSTEM FOR SEARCHING AND SOLVING FOR INSURANCE PRODUCTS

SYSTEM FOR SEARCHING AND SOLVING FOR INSURANCE PRODUCTS

A method for evaluating and scoring insurance products by interfacing with illustration engines relating to insurance products. The method includes calculating a series of cash flows for the proposed policy by applying a decrement factor to the set of values; calculating an internal rate of return f...

Ausführliche Beschreibung

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Bibliographische Detailangaben
Hauptverfasser: TURNER, SAMUEL, H, MAURER, KEITH, J, BRASWELL, ELIZABETH, A, KENDALL, ERROL, O
Format: Patent
Sprache:eng ; fre ; ger
Schlagworte:
CALCULATING
COMPUTING
COUNTING
HANDLING RECORD CARRIERS
PHYSICS
PRESENTATION OF DATA
RECOGNITION OF DATA
RECORD CARRIERS
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Beschreibung
Zusammenfassung:A method for evaluating and scoring insurance products by interfacing with illustration engines relating to insurance products. The method includes calculating a series of cash flows for the proposed policy by applying a decrement factor to the set of values; calculating an internal rate of return for the proposed policy from the series of cash flows, and a statistical distribution of a plurality of internal rate of returns of a proposed policy for each of the one or more insurance products; determining a value for a quantitative scoring component for the proposed policy based on a comparison of the internal rate of return for the proposed policy to a quantitative factor; and obtaining an over score for the proposed policy by combining a plurality of values for each of a plurality of scoring components.