State Farm Mutual Automobile Insurance Company

Matthew T Frank

Curt Stewart

Neale McCormick

Rama Duvvuri

Matthew W Baughman

Matt Baughman

Ramakrishna Duvvuri

A computer readable medium containing a set of computer readable instructions that when loaded into a computer configure that computer to: receive demographic data, fire station data, or other data associated with a location; receive a coordinate pair including a longitude and latitude of a location; determine a coordinate grid block bounded by latitude and longitude lines, which grid block is associated with the coordinate pair; query a database for a plurality of existing data associated with the coordinate grid block; and determine a rate based at least in part on the plurality of existing data and the demographic data, fire station data, or other data associated with a location.

Computer readable medium containing a set of computer readable instructions for grid-based insurance rating

A method for rating insurance products using a programmed computer system comprising: receiving a coordinate pair comprising a longitude and a latitude of a location; determining a target coordinate grid block bounded by latitude and longitude lines, which grid block is associated with the coordinate pair; querying a database for a first set of existing data associated with the target coordinate grid block, wherein the existing data was associated with the target coordinate grid block prior to receiving the coordinate pair; querying a database for a second set of existing data associated with a regulator, which regulates insurance policies in a geographic area comprising the location; and calculating a pure premium based on constant values and an analysis of the data in the first set and the second set.

Methods for grid-based rating insurance products using a programmed computer system

A method for rating insurance products using a programmed computer system having steps including receiving a coordinate pair comprising a longitude and a latitude of a location; determining a target coordinate grid block by truncating a decimal representation of the longitude and latitude of the location; querying a database for a first set of existing data associated with the target coordinate grid block; setting a ring counter to an initial value; determining a current ring of coordinate grid blocks grid adjacent to and surrounding the target grid block; querying the database for a second set of existing data associated with each coordinate grid block in the current ring of coordinate grid blocks; and calculating a rating for an insurance product based on an analysis of the data.

Methods for grid-based insurance rating

A method for rating insurance products using a programmed computer system comprising receiving a coordinate pair including a longitude and a latitude of a location; determining a target coordinate grid block bounded by latitude and longitude lines, wherein the target coordinate grid block encompasses the coordinate pair, querying a database for a target set of existing data associated with the target coordinate grid block, wherein the existing data was associated with the target coordinate grid block prior to receiving the coordinate pair, and calculating a pure premium based at least in part on analyzing the data in the target set.

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Bloomington, IL, United States of America

Matthew T Frank