System and method for automated risk-based pricing of a vehicle warranty insurance policy
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United States of America Patent
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Jan 30, 2001
Grant Date -
N/A
app pub date -
Nov 23, 1998
filing date -
Nov 23, 1998
priority date (Note) -
Expired
status (Latency Note)
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Abstract
A system and method for automated risk-based pricing of a vehicle-warranty insurance policy. A vehicle warranty policy request input source receives a request for a vehicle warranty policy. A processor receives the request and uses analytical tools in conjunction with an environmental database, a vehicle database, and a historical database, to service the request. The processor generates a price, conditions and terms for the request using a risk-based pricing algorithm. A system operator reviews the price, conditions and terms and either accepts or rejects the policy request. The system operator also has the option to adjust the price, conditions and terms derived from the processor.
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