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US 8,805,805 B1Granted
Retail deployment model
AssigneeAllstate Insurance Company
InventorsLarry Shigeo Kobori, Carl Katsumi Mayeda, Priya Sahai
Life of this patent
Estimating the term…
Abstract
A method of determining and optimizing the location of a new insurance agency is disclosed to increase market penetration of underrepresented markets. The method comprises the use of a scoring algorithm to rank various geographic regions or related zip codes. The scoring algorithm may be implemented by a location modeling system based on variables selected by a user. In addition, the various ranked geographic regions or related zip codes may be analyzed for proximity to natural or man made perils.
Claims17
A method for determining an insurance agency location, the method comprising:
- (a) receiving at least one geographic region to be evaluated for placement of the insurance agency location;
- (b) receiving at least one distance band to a risk border to be evaluated for placement of the insurance agency location, wherein the at least one distance band to the risk border is calculated by considering a curvature of Earth and determining a distance between a furthest state boundary and the risk border;
- (c) determining at least two related zip codes to be evaluated based on the at least one geographic region received in step (a);
- (d) receiving modeling factors to be utilized in the determination of the insurance agency location;
- (e) displaying homeowner counts within the at least one distance band;
- (f) determining the insurance agency location based on the displayed homeowner counts and the received at least one distance band;
- (g) calculating a final score for each of the at least two zip codes determined in step (c), wherein step (g) further comprises:
- calculating a composite score for each of the at least two zip codes determined in (c);
- and
- (h) comparing the final scores for each of the at least two zip codes to rank order the at least two zip codes.
7 more elements
A method for determining an insurance agency location, the method comprising:
- (a) receiving at least one geographic region to be evaluated for placement of the insurance agency location;
- (b) determining at least two related zip codes to be evaluated based on the at least one geographic region received in step (a);
- (c) receiving modeling factors to be utilized in the determination of the insurance agency location;
- (d) receiving distance bands to a risk border to be utilized in the determination of the insurance agency location, wherein the distance bands to the risk border are calculated by considering a curvature of Earth and determining a distance between a furthest state boundary and the risk border;
- (e) calculating a final score for each of the at least two related zip codes determined in step (b), wherein step (e) further comprises:
- calculating a composite score for each of the at least two related zip codes determined in (b);
- (f) comparing the final score for each of the at least two related zip codes to rank order the at least two zip codes;
- (g) determining the insurance agency location based on the final scores, the received distance bands, and homeowner counts within the received distance bands for each determined zip code;
- and
- (h) displaying the final scores for each zip code on a map.
7 more elements
An apparatus comprising:
- (a) a display;
- (b) a memory;
- and
- (c) a processor coupled to the memory and programmed with computer-executable instructions for performing steps comprising:
- (i) receiving at least one geographic region to be evaluated for placement of an insurance agency location;
- (ii) determining at least two related zip codes to be evaluated based on the at least one geographic region received in (i);
- (iii) receiving a distance band to a risk border to be used in determining the placement of the insurance agency location, wherein the distance band to the risk border is calculated by considering a curvature of Earth and determining a distance between a furthest state boundary and the risk border;
- (iv) receiving modeling factors to be utilized in the determination of the insurance agency location
- (v) calculating a final score for each of the at least two related zip codes, wherein step (v) further comprises:
- calculating a composite score for each of the at least two related zip codes determined in (ii);
- and
- (vi) determining the insurance agency location based on the final scores, the received distance band, and homeowner counts within the distance band for each determined zip code.
9 more elements
Dependencies are inferred from the claim text.