State Farm Mutual Automobile Insurance Company

Jenny L Jacobs

Ryan Michael Gross

Jody Ann Thoele

Shawn Harbaugh

M Eric Riley, Sr

Rick Lovings

Erik Skyten

Jordan Jeffers

Joann C Yant

Systems and methods are described for performing analysis of parametric events. The method may include: (1) receiving weather data from a weather oracle network; (2) calculating, using a first trained machine learning algorithm, a likelihood of a trigger activation for a parametric event (or a trigger event) for a user based at least upon the weather data; (3) calculating, using a second trained machine learning algorithm, an estimated loss for the user based at least upon the likelihood of the trigger activation; (4) determining an initial coverage for the user; and (5) determining whether to offer the user updated coverage for the parametric event based at least upon a comparison of the initial coverage and the estimated loss for the user.

Parametric engine to implement methods using parametric analytics

Growing community of inventors

Normal, IL, United States of America

Jenny L Jacobs