Hail History Evaluation System for Automated Risk Scoring
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Solution Overview
Problem
Assessing the likelihood of hail damage to specific properties is challenging due to the localized nature of hail storms and varying hail sizes, making it difficult for insurers to determine the risk of previous damage for new insurance policies or claims.
Innovation Solution
A computerized system that generates historical hail evaluation data by accessing information from a third-party weather reporting service, calculating a hail history score, and transmitting it to insurers, facilitating automated and accurate assessments.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Ease of operation
If manual assessment methods are used to evaluate hail damage risk for individual properties, then flexibility and customization can be achieved, but the process becomes time-consuming and labor-intensive
Solution Approach 1:
The patent replaces manual mechanical assessment processes with an automated computer system that retrieves historical weather data, processes it through algorithms, and generates hail risk scores automatically. This substitution eliminates the need for manual evaluation while maintaining assessment accuracy and enabling rapid processing of multiple properties.
Solution Approach 2:
The system enables self-service by allowing insurers and agents to independently generate hail risk assessments without requiring manual intervention from specialists. The automated retrieval of weather data and calculation of risk scores empowers users to perform assessments on their own, reducing dependency on external experts and accelerating the underwriting process.
2Measurement precision
If comprehensive historical weather data is collected and analyzed for each property, then assessment accuracy improves, but data processing complexity and computational resources increase
Solution Approach 1:
The system extracts only the relevant historical weather data elements needed for hail risk assessment from comprehensive weather databases. By identifying and isolating specific parameters such as hail occurrence frequency, intensity, and geographic patterns, the system maintains high assessment accuracy while reducing the volume of data that requires processing and analysis.
Solution Approach 2:
The patent transforms comprehensive weather data into standardized hail risk score parameters through systematic processing. By converting raw weather observations into normalized risk metrics with consistent scales and weightings, the system simplifies complex data while preserving the essential information needed for accurate risk assessment and comparison across different properties.
3Reliability
If detailed property-specific hail risk analysis is performed, then underwriting decision quality improves, but the cost and time of insurance processing increase
Solution Approach 1:
The system performs preliminary hail risk assessments automatically before formal underwriting decisions are made. By pre-calculating risk scores based on historical weather data and property characteristics, the system provides underwriters with advance information that guides decision-making, reduces the need for detailed manual analysis, and accelerates the overall processing timeline while maintaining decision quality.
Solution Approach 2:
The patent segments the underwriting process into distinct phases: automated data retrieval, risk score calculation, and human decision-making. This segmentation allows the time-consuming data processing tasks to be handled automatically by the system, while human underwriters focus on interpreting results and making final decisions, thereby improving both processing speed and decision reliability.
Data Source
AI summary
According to some embodiments, a hail history storage device may store information periodically received from a remote third-party weather reporting service. A hail history score request associated with a geographic location and a date range may be received from a remote requester device. Responsive to the received hail history score request, a computer processor of a hail history server may automatically access information in the hail history storage device based on the geographic location and date range. Moreover, the computer processor may automatically evaluate accessed information to calculate a hail history score value. The computer processor may then transmit, to the remote requester device, historical hail evaluation data including the calculated hail history score value.