SYSTEM AND METHOD FOR EVALUATING A VALUE OF AN INSURANCE POLICY

摘要

The invention relates to a system and method for evaluating valuations groupsof insurance policies. The steps involve a) retrieving at least onecharacteristic foreach policy from the plurality of characteristics for each policy in the groupofpolicies; b) obtaining at least one derived characteristics for each policy inthe groupof policies from plurality of characteristics for each policy in the group ofpolicies; c)calculating a group expected value for each of the at least one characteristicand eachof the at least one derived characteristic; d) receiving from the inputdevice, a set oftolerances for each of the at least one characteristics and each of the atleast onederived characteristic; e) minimizing a linear objective function with a setof policyweights wherein a sum of an at least one weighted characteristic, obtained bymultiplying the policy weight with one each one of the at least onecharacteristic andeach one of the at least one derived characteristic, is equal to or within thereceivedtolerance of the group expected value for each of the one or morecharacteristic andeach of the one or more derived characteristic; f) selecting policies with anon-zeropolicy weight; g) calculating at least one risk valuation result using theselectedpolicies; and h) outputting the result of the at least one risk valuationresult to theoutput device. The results of the at least one risk valuation result using theselectedpolicies substantially correspond to the results of calculating the at leastone riskvaluation result on the group of policies.