System for rule-based insurance underwriting suitable for use by an automated system

Abstract

A system for at least a partial underwriting of insurance policies is described. Various rules are created, along with a degree of satisfaction for each rule. Rules may be directed toward various insurance underwriting components (e.g., cholesterol levels, blood pressure, etc.). Based on the degree of satisfaction for each rule, a component may be assigned to a category. Based on the category for each component, the insurance application may be assigned an underwriting category.

1 . A system for underwriting an insurance application comprising:
 a receiver for receiving a request to underwrite an insurance application, where the request includes information about at least one application component;   an evaluation module for evaluating the at least one application component based on at least one rule associated with the at least one application component; and   an assignment module for:
 a) assigning a measurement to the at least one application component; and 
 b) assigning the at least one application component to a specific component category out of a plurality of component categories based on the assigned measurement. 
   
     
     
         2 . The system according to  claim 1 , wherein the assignment module further assigns the insurance application to a specific application category out of a plurality of application categories, where the one specific application category is based at least in part on the specific component category. 
     
     
         3 . The system according to  claim 2 , wherein the plurality of component categories are identical to the plurality of application categories. 
     
     
         4 . The system according to  claim 1 , wherein the evaluation of the at least one application component includes:
 defining the at least one rule;   assigning the at least one rule to the at least one application component; and   defining a plurality of parameters associated with the at least one rule, wherein each parameter corresponds to a particular category of the plurality of component categories.   
     
     
         5 . The system according to  claim 4 , wherein the assignment module further assigns the insurance application to a specific application category out of a plurality of application categories, wherein the specific application category is based at least in part on the component category. 
     
     
         6 . The system according to  claim 5 , wherein the plurality of component categories are identical to the plurality of application categories. 
     
     
         7 . The system according to  claim 1 , wherein the at least one rule is a fuzzy logic rule. 
     
     
         8 . A system for underwriting an insurance application comprising:
 a receiver for receiving a request to underwrite an insurance application, wherein the insurance application includes a plurality of application components;   an evaluation module for evaluating the plurality of application components based on a plurality of rules, wherein each of the plurality of rules is associated with each of the plurality of application components; and   an assignment module for:
 a) assigning a measurement to each of the plurality of application components; and 
 b) assigning each of the plurality of application components to a specific component category out of a plurality of component categories based on the assigned measurement. 
   
     
     
         9 . The system according to  claim 8 , wherein the assignment module further assigns the insurance application to a specific application category out of a plurality of application categories, wherein the specific application category is based at least in part on the component categories for each of the plurality of component categories. 
     
     
         10 . The system according to  claim 9 , wherein the plurality of component categories are identical to the plurality of application categories. 
     
     
         11 . The system according to  claim 8 , wherein the evaluation of the plurality of application components includes:
 defining the plurality of rules;   assigning each of the plurality of rules to one of the plurality of components;   and   defining a plurality of parameters associated with each of the plurality of rules, wherein each parameter corresponds to a particular category of the plurality of component categories.   
     
     
         12 . The system according to  claim 11 , wherein the assignment module further assigns the insurance application to a specific application category out of a plurality of application categories, wherein the specific application category is based at least in part on the component categories for each of the plurality of component categories. 
     
     
         13 . The system according to  claim 12 , wherein the plurality of component categories are identical to the plurality of application categories. 
     
     
         14 . The system according to  claim 8 , wherein the plurality of rules are fuzzy logic rules. 
     
     
         15 . A system for underwriting an insurance application comprising:
 a receiver for receiving a request to underwrite an insurance application for a customer, wherein the insurance application includes a plurality of application components;   an evaluation module for evaluating the plurality of application components based on a plurality of rules, wherein each of the plurality of rules is associated with each of the plurality of application components;   an assignment module for:
 a) assigning a measurement to each of the plurality of application components; 
 b) assigning each of the plurality of application components to a specific component category out of a plurality of component categories based on the assigned measurement; and 
 c) assigning the insurance application to a specific application category out of a plurality of application categories, wherein the specific application category is based at least in part on the specific component category; and 
   an issuance module for issuing the insurance application to the customer.   
     
     
         16 . The system according to  claim 15 , wherein the plurality of component categories are identical to the plurality of application categories. 
     
     
         17 . The system according to  claim 15 , wherein the evaluation of the at least one application component includes:
 defining the at least one rule;   assigning the at least one rule to the at least one component; and   defining a plurality of parameters associated with the at least one rule, wherein each parameter corresponds to a particular category of the plurality of component categories.   
     
     
         18 . The system according to  claim 17 , wherein the assignment module further assigns the insurance application to a specific application category out of a plurality of application categories, wherein the specific application category is based at least in part on the component category. 
     
     
         19 . The system according to  claim 18 , wherein the plurality of component categories are identical to the plurality of application categories. 
     
     
         20 . The system according to  claim 15 , wherein the plurality of rules are fuzzy logic rules. 
     
     
         21 - 45 . (canceled)