Company Filing History:
Years Active: 2008-2014
Title: The Innovative Mind of Craig Nies
Introduction
Craig Nies is a notable inventor based in Carlsbad, California. He has made significant contributions to the fields of auction pricing and insurance fraud detection. With a total of 3 patents to his name, Nies has demonstrated a strong commitment to innovation and problem-solving.
Latest Patents
One of Craig Nies' latest patents is a computer-based method and computer program product for setting floor prices for items sold at auction. This adaptive method estimates the selling price for an item at auction to set a reserve. The method calculates the selling price based on previously sold items and their feature differences. It employs distance metrics to compare the item to be sold with similar items, selecting a subset of the most comparable items. A weighting function is calculated for each item based on its distance metric value, and the selling price is estimated using these functions and differential values. The differential values are modeled as a linear dynamical system and updated using a Kalman filter, which takes into account actual sales prices and uncertainty estimates.
Another significant patent addresses the detection of insurance premium fraud or abuse using a predictive software system. This predictive model assesses the likelihood of fraud for each policy by producing a score that indicates the risk of premium fraud or abuse. The system processes policies for scoring, stores relevant data in a database, and derives variables for the model. Additionally, a rule-based analysis detects specific inconsistencies in the data that may indicate fraud. The model scores and red-flag indicators can be further processed to provide customized outputs for users.
Career Highlights
Throughout his career, Craig Nies has worked with prominent companies such as Fair Isaac Corporation and Opera Solutions, LLC. His experience in these organizations has allowed him to refine his skills and contribute to innovative projects.
Collaborations
Craig has collaborated with talented individuals, including Arati S Deo and Anu Kumar Pathria. These partnerships have likely enriched his work and led to further advancements in his inventions.
Conclusion
Craig Nies is a distinguished inventor whose work in auction pricing and insurance fraud detection showcases his innovative spirit. His contributions have the potential to impact various industries significantly.