General Electric Company

Genworth Financial, Inc.

Sabic Innovative Plastics IP B.v.

William Estel Cheetham

Piero Patrone Bonissone

Paul Edward Cuddihy

Sanjay Braj Mishra

Srikant Vitta

Jaehong Suh

Vinod Amladi

Dagumati Dayakara Reddy

A process is described for evaluating the decision-making confidence of a process and system for at least a partial underwriting of insurance policies where placement of an insurance application to an underwriting category is based on its similarity to previous insurance applications. The confidence factor computed is a measure of the correctness of the decision for a given application for insurance.

Process for determining a confidence factor for insurance underwriting suitable for use by an automated system

A system is described for evaluating the decision-making confidence of a process and system for at least a partial underwriting of insurance policies where placement of an insurance application to an underwriting category is based on its similarity to previous insurance applications. The confidence factor computed is a measure of the correctness of the decision for a given application for insurance.

System for determining a confidence factor for insurance underwriting suitable for use by an automated system

Material selection systems and methods for quickly identifying which existing material best matches a desired set of properties are described so that product development time can be minimized. Users may input the properties they desire in a material, which properties they want searched and scored, the acceptable values of those properties, and a priority value for each property. Preliminary matching materials may be retrieved from a materials database, and an index value for each property value may be calculated. One of four fuzzy membership functions may then be utilized to calculate a scored property value for each property of each material. The scored property value may then be weighted to account for the priority value assigned to each property. The results may then be sorted in descending order based on their overall match scores, and output to the user so the best matching material(s) is readily identifiable by the user.

Systems and methods for selecting a material that best matches a desired set of properties

A method for estimating the price of real property such as a single family residence. A set of real estate properties comparable to the subject property is retrieved. The comparable properties and the subject property are characterized by a plurality of common attributes each having a respective value. Each attribute value from the comparable properties are evaluated to the same attribute value of the subject property on a fuzzy preference scale indicating desirable and tolerable deviations from an ideal match with the subject property. A measurement of similarity between each comparable property and the subject property is then determined. Next, the price of the comparable properties are adjusted to the value of the subject property and the best properties are extracted for further consideration. The extracted comparable properties are then aggregated into an estimate price of the subject property.

Method for estimating the value of real property

A computer-implemented method for estimating a dollar per square foot value of a subject property. A set of properties comparable to the subject property are retrieved. The comparable properties are characterized by a plurality of common attributes each having a respective value. The plurality of common attributes include distance from the subject property, sale price, and living area. The distance of the comparable properties to the subject property are rated on a fuzzy preference scale indicating desirable and tolerable deviations from an ideal match with the subject property. Each evaluation generates a weighted preference. The sale price and the living area from each of the comparable properties are then aggregated with the weighted preference for that comparable into a dollar per square foot estimate of the subject property.

Method for estimating the price per square foot value of real property

A computer-implemented method for validating specified prices on real property. A set of real estate properties comparable to the subject property are retrieved. A measurement of similarity between each comparable property and the subject property is then determined. A plurality of adjustment rules are then applied to adjust the price of the comparable properties. The adjusted comparable properties are then extracted, sorted, and ranked, according to the specified sale price. The extracted comparable properties are then aggregated into an estimate price of the subject property. After aggregation, the estimate price of the subject property is compared to the specified price and a measurement of confidence validating the reliability of the specified price is then generated.

Method for validating specified prices on real property

The present invention discloses a system and a method for estimating a measure of confidence in a match generated from a case-based reasoning system. The measure of confidence is determined by using a confidence function that is derived for all existing cases in the case base. The confidence function is then used to estimate the confidence of any matches between a new case and an existing case. In the present invention, a retrieval unit uses a similarity index and retrieves any existing cases from the case base that has a measurement of similarity to the new case that is within a predetermined similarity threshold. The confidence function then maps the similarity measurement for each retrieved case to a corresponding measure of how many different outcomes are likely given the level of similarity. A report of the existing cases that have the best measures of confidence are then provided in a list. In another embodiment, the confidence estimation is used to analyze an error log generated from a malfunctioning machine.

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Clifton Park, NY, United States of America

William Estel Cheetham