Automated Mitigation Estimate Generation Using Historical Data

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Solution Overview

Problem

Current methods for generating mitigation estimates are inefficient, inaccurate, and laborious, often requiring extensive manual processes and outdated information, which complicates the assessment of damage from disasters like fires, earthquakes, and flooding, making it difficult for insurance companies to provide timely and accurate estimates.

Innovation Solution

An automated system using computer software that analyzes data, applies relevant rules, and aids adjusters and contractors in generating estimates quickly and cost-effectively by leveraging past mitigation and restoration data to identify trends and latent issues, thereby improving the accuracy and efficiency of the estimation process.

Engineering Contradictions & Design Principles

VSEngineering Contradiction Analysis

1Productivity

If manual methods are used to generate mitigation estimates, then the process allows for human judgment and flexibility, but the process is inefficient, laborious, and time-consuming

Engineering Contradiction:

Improveestimate generation speedVSAvoidtime for inspections and estimate preparation

Core Design Contradiction:

ProductivityVSLoss of time

Solution Approach 1:

The patent replaces manual mechanical processes of estimate generation with an automated computer-based system that uses algorithms, databases, and software applications to perform data analysis, calculate estimates, and generate reports automatically, eliminating manual labor while maintaining accuracy

Inventive Principle:

Principle #28Mechanics substitution (Replace mechanical system)

Solution Approach 2:

The system enables self-service by allowing the automated software to independently access databases, retrieve historical data, perform calculations, and generate estimates without requiring continuous human intervention, making the process autonomous and efficient

Inventive Principle:

Principle #25Self-service

2Measurement precision

If extensive manual inspection and analysis are performed to improve estimate accuracy, then the precision of damage assessment increases, but the complexity and resource requirements of the process increase

Engineering Contradiction:

Improveaccuracy of damage assessmentVSAvoidcomplexity of inspection and analysis process

Core Design Contradiction:

Measurement precisionVSDevice complexity

Solution Approach 1:

The patent creates a universal system that performs multiple functions including data collection, analysis, calculation, and report generation within a single integrated platform, reducing the need for separate tools and processes while maintaining comprehensive assessment capabilities

Inventive Principle:

Principle #6Universality (Multi-functionality)

Solution Approach 2:

The system performs preliminary actions by pre-populating estimate templates with historical data, standard procedures, and predetermined calculation parameters before the actual estimate generation, reducing the complexity of manual preparation and analysis during the inspection process

Inventive Principle:

Principle #10Preliminary action

3Reliability

If outdated information and methods are used for estimate generation, then the process is simpler to implement, but the accuracy and reliability of the estimates decrease

Engineering Contradiction:

Improvereliability of estimate dataVSAvoidease of implementing updated systems

Core Design Contradiction:

ReliabilityVSEase of manufacture

Solution Approach 1:

The patent implements feedback mechanisms where the system continuously updates its databases with new inspection data, actual loss information, and corrected estimates from completed claims, using this feedback to improve future estimate accuracy and maintain current, reliable information

Inventive Principle:

Principle #23Feedback

Solution Approach 2:

The system acts as an intermediary between historical data and current estimates, using databases and software algorithms to bridge the gap between outdated information and modern assessment requirements, translating historical patterns into current predictive models

Inventive Principle:

Principle #24Intermediary (Mediator)

4Productivity

If automated systems are implemented to improve efficiency, then the speed and consistency of estimate generation increase, but the initial implementation complexity and cost increase

Engineering Contradiction:

Improveefficiency of claims processingVSAvoidcomplexity of automated system implementation

Core Design Contradiction:

ProductivityVSDevice complexity

Solution Approach 1:

The patent segments the automated system into modular components including separate databases, calculation engines, user interfaces, and reporting modules, allowing for phased implementation and easier maintenance while achieving high overall efficiency

Inventive Principle:

Principle #1Segmentation

Solution Approach 2:

The system utilizes parameter changes by allowing flexible configuration of estimation parameters, thresholds, and calculation methods that can be adjusted without changing the underlying system architecture, enabling adaptation to different insurance products and damage types

Inventive Principle:

Principle #35Parameter changes

Data Source

PatentUS20230019362A1Sequential estimate automation

Publication Date: 2023.01.19 ACCURENCE INC

AI summary

Methods and systems for sequential estimate automation are described, wherein data extracted from an initial estimate is analyzed using a database of rules and a database of previous estimate data. Mitigation estimates or other information provided to the method or system may be supplemented through the use of intelligent decisions. Results of the methods and systems may be used to automatically generate a scope of work estimate.