Automatic insurance adjustments using real world awareness
AssigneeSap SE
InventorSteve Winkler
Life of this patent
Estimating the term…
Abstract
An electronic product code information service (EPCIS) interface is provided that allows accessing applications residing on a variety of systems to receive EPC-related data. In setting up an insurance policy, the EPC-related data may be used to determine objects covered by the insurance policy and to valuate the covered objects. An insurance premium may be generated for the insurance policy based on this valuation. In addition, changes to the covered objects may be detected based on the EPC-related data and may be used to automatically adjust the insured value and/or insurance premium.
Claims12
A method for providing an initial valuation of an insurance premium based on EPC-related data, comprising:
- providing an interface capable of allowing one or more accessing applications residing on a variety of systems to access shared EPC-related data;
- initiating setup of an insurance policy;
- determining one or more objects covered by the insurance policy based on EPC-related data associated with the one or more objects;
- valuating the one or more objects based on the associated EPC-related data;
- and
- determining an insurance premium for the insurance policy based on the valuation of the one or more objects.
A system for providing an initial valuation of an insurance premium based on EPC-related data, comprising:
- a processor configured to:
- provide an interface capable of allowing one or more accessing applications residing on a variety of systems to access shared EPC-related data;
- initiate setup of an insurance policy;
- determine one or more objects covered by the insurance policy based on EPC-related data associated with the one or more objects;
- valuate the one or more objects based on the associated EPC-related data;
- and
- determine an insurance premium for the insurance policy based on the valuation of the one or more objects.
A computer-readable medium having instructions thereon, when executed by a processor, performs a method comprising:
- providing an interface capable of allowing one or more accessing applications residing on a variety of systems to access shared EPC-related data;
- initiating setup of an insurance policy;
- determining one or more objects covered by the insurance policy based on EPC-related data associated with the one or more objects;
- valuating the one or more objects based on the associated EPC-related data;
- and
- determining an insurance premium for the insurance policy based on the valuation of the one or more objects.
Dependencies are inferred from the claim text.