The patent badge is an abbreviated version of the USPTO patent document. The patent badge does contain a link to the full patent document.
The patent badge is an abbreviated version of the USPTO patent document. The patent badge covers the following: Patent number, Date patent was issued, Date patent was filed, Title of the patent, Applicant, Inventor, Assignee, Attorney firm, Primary examiner, Assistant examiner, CPCs, and Abstract. The patent badge does contain a link to the full patent document (in Adobe Acrobat format, aka pdf). To download or print any patent click here.
Patent No.:
Date of Patent:
May. 27, 2014
Filed:
Mar. 27, 2013
State Farm Mutual Automobile Insurance Company, Bloomington, IL (US);
Curt Stewart, Bloomington, IL (US);
Matthew T. Frank, Bloomington, IL (US);
Neale McCormick, Bloomington, IL (US);
Matt Baughman, Normal, IL (US);
Rama Duvvuri, Bloomington, IL (US);
State Farm Mutual Automobile Insurance Company, Bloomington, IN (US);
Abstract
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.