System for improved network data processing

An apparatus to improve processing associated with automated dynamic rating application, comprising:

• a communication device to receive, from a remote device via a communication network, single input information provided at the remote device including information associated with a business including a quote request, for at least one of business owner's policy coverage or standalone general liability coverage, specifying a business type and a business location, and to transmit the single input information to a plurality of platforms, thereby reducing errors in input information;
• a first computing platform coupled to the communication device, including:
• a first processor coupled to the communication device;
• and
• a first storage device in communication with the first processor and storing instructions defining an automated dynamic rating application and adapted to be executed by the processor to:
• receive, via the communication device, the single input information provided at the remote device;
• identify at least a first applicable business owner's policy coverage or standalone general liability coverage based on receipt of the business type and the business location from the communication device responsive to the request for quote,
• based on the at least a first applicable business owner's policy coverage or standalone general liability coverage, identify at least a first relevant coverage formula including at least a first territory factor and data lookups to retrieve and apply a relevant rate from a business owner's policy coverage rating database, the at least a first territory factor based on the geographical location of the business,
• receive claim data from a claims processing system, the claims processing system associated with the remote device and adapted to receive information about a claim, determine Extended Reporting Period (“ERP”) information associated with the claim, and provide claim data to the automated dynamic rating application;
• and
• query a rating database using the at least a first relevant coverage formula, the business type the business location, and the received claim data, the query resulting in at least a first price for the at least first applicable business owner's policy coverage or standalone general liability coverage;
• and
• a second computing platform coupled to the communication device, operating in parallel with the first computing platform, including:
• a second processor;
• a second storage device in communication with the second processor and storing instructions adapted to be executed by the processor to:
• receive, via the communication device, the single input information provided at the remote device;
• responsive to receipt of the single input information provided at the remote device, based on the business type automatically received in parallel with the first computing platform from the communication device, responsive to the quote request, modify a base professional liability form with at least one product feature, and
• query a professional liability rating database using the business type, business location, and the at least one product feature, the query resulting in a professional liability premium value,
• wherein the second computing platform is configured to process the single input information in parallel with the first computing platform, thereby providing an expedited response to the single input information;
• wherein the apparatus is configured to transmit a response to the quote request, the response including the at least a first price, the at least first applicable coverage, and the professional liability premium value;
• and
• wherein the apparatus is further configured to:
• store, in a single database, data indicative of an insurance policy identifier, a price of coverage corresponding to the first price, the at least one product feature, a price based on the professional liability premium value, and to
• generate and provide to the remote device, in response to the single input information, a single graphical user interface display, employing data items extracted from the single database, showing on the single graphical user interface display results from the first and second platforms, including a policy identifier, a price of coverage corresponding to the first price, the at least one product feature, and the price based on the professional liability coverage feature.