Importance

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Abstract

An automated method for identifying those claims of a raw claims insurance claims database for which reinsurance is applicable. The method develops a database of uniquely clustered catastrophic events such as storm reports. This 'CatNodes' database may be developed manually or automatically through the use of a neural network approach. A fuzzy degree of belonging is employed to quantify the likelihood that a given insurance claim is properly associated with a given catastrophic event or storm. The assignment of a degree of belonging is derived by approaches which consider four factors: the date of the loss; the location of the loss; the type of the loss; and the presence of special keywords in the claim description.

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First Claim