System tand method using third-party data to provide risk relationship adjustment recommendation based on upcoming life event

Patent metadata

Field	Value
Publication number	US-11734769-B2
Application number	US-202217694885-A
Country	US
Kind code	B2
Filing date	Mar 15, 2022
Priority date	Dec 20, 2019
Publication date	Aug 22, 2023
Grant date	Aug 22, 2023

Abstract

A system to provide a risk relationship life event analytical modeling platform via a back-end application computer server of an enterprise. The system may include a risk relationship data store that contains electronic records representing potential risk relationships between the enterprise and a plurality of entities. Each record may include an electronic record identifier, at least one third-party indication associated with an upcoming life event, and a communication address. The server may determine a selected potential risk relationship and retrieve, from the risk relationship data store, the electronic record associated with the selected potential risk relationship. An analytical model may be executed based on the upcoming life event to generate a proactive notification including information based on the upcoming life event and data in the electronic record. The server may then automatically transmit information about the proactive notification to the communication address.

First claim

What is claimed:

1. A system to provide a risk relationship life event analytical modeling platform via a back-end application computer server of an enterprise, comprising:
(a) a risk relationship data store containing electronic records that represent a plurality of potential risk relationships between the enterprise and a plurality of entities, wherein each electronic record includes an electronic record identifier, at least one third-party indication associated with an upcoming life event, and a communication address;
(b) the back-end application computer server, coupled to the risk relationship data store, including:
a computer processor, and
a computer memory, coupled to the computer processor, storing instructions that, when
executed by the computer processor, cause the back-end application computer server to:
(i) determine a selected potential risk relationship between the enterprise and an entity,
(ii) retrieve, from the risk relationship data store, the electronic record associated with the selected potential risk relationship, including the at least one third-party indication associated with an upcoming life event and a communication address,
(iii) determine an eligibility of the selected potential risk relationship to receive a proactive notification including information based on the upcoming life event and data in the electronic record,
(iv) when it is determined the selected potential risk relationship is not eligible to receive the proactive notification, automatically transmit standard information to the communication address while avoiding the transmission of the proactive notification thereby reducing electronic message traffic in a distributed communication network,
(iv) when it is determined the selected potential risk relationship is eligible to receive the proactive notification, generate the proactive notification, via execution of the analytical model, and

(c) a communication port coupled to the back-end application computer server to facilitate a transmission of data with a remote device to support a graphical interactive user interface display via a distributed communication network, the interactive user interface display providing the proactive notification.

2. The system of claim 1 , wherein generation of the proactive notification is based on execution of a gap analysis comparing a current state and a state based on the upcoming life event.

3. The system of claim 1 , wherein the proactive notification is a personalized recommendation.

4. The system of claim 1 , wherein the information in the proactive notification includes at educational materials.

5. The system of claim 4 , wherein the educational materials are about at least one of: an adjustment to the selected potential risk relationship, and features of the selected potential risk relationship.

6. The system of claim 1 , wherein the analytical model further executes based on internal data of the enterprise.

7. The system of claim 6 , wherein the analytical model is associated with at least one of: (i) employee segmentation, (ii) a product mixture based on employee segmentation, (iii) a cross-product sales offer, (iv) an up-sell product offer, (v) educational material.

8. The system of claim 6 , wherein the analytical model is associated with at least one of: (i) a machine learning model created based on historical risk relationship information, (ii) a predictive model, (iii) supervised learning, (iv) unsupervised learning, (v) reinforcement learning, (vi) self-learning, (vii) feature learning, (viii) sparse dictionary learning, (ix) anomaly detection, (x) association rules, (xi) an artificial neural network, (xii) a decision tree, (xiii) a support vector machine, (xiv) a Bayesian network, (xv) a genetic algorithm, and (xvi) federated learning.

9. The system of claim 1 , wherein the upcoming life event is associated with at least one of: (i) a birth, (ii) a change in marital status, (iii) an address change, (iv) a change in employment, and (v) an age change.

10. The system of claim 9 , wherein the third-party data is associated with at least one of: (i) employer data, (ii) government records, (iii) insurance data, and (iv) a credit score provider.

11. The system of claim 1 , wherein the proactive notification is associated with at least one of: (i) an optimum coverage selection, (ii) a cross-sell opportunity, (iii) a deductible change, (iv) a coverage change, and (v) a premium change.

12. A computerized method to provide a risk relationship life event analytical modeling platform via a back-end application computer server of an enterprise, comprising:
determining, at a computer processor of the back-end application computer server, a selected potential risk relationship between the enterprise and an entity;
retrieving, from a risk relationship data store, an electronic record associated with the selected potential risk relationship, including at least one third-party indication associated with an upcoming life event and a communication address, wherein the risk relationship data store contains electronic records that represent a plurality of potential risk relationships between the enterprise and a plurality of entities, each electronic record including an electronic record identifier;
determining an eligibility of the selected potential risk relationship to receive a proactive notification including information based on the upcoming life event and data in the electronic record;
when it is determined the selected potential risk relationship is not eligible to receive the proactive notification, automatically transmitting standard information to the communication address while avoiding the transmission of the proactive notification thereby reducing electronic message traffic in a distributed communication network;
when it is determined the selected potential risk relationship is eligible to receive the proactive notification, generating the proactive notification, via execution of an analytical model; and
automatically transmitting the proactive notification.

13. The method of claim 12 , wherein generation of the proactive notification is based on execution of a gap analysis comparing a current state and a state based on the upcoming life event.

14. The method of claim 12 , wherein the proactive notification is a personalized recommendation.

15. The method of claim 12 , wherein the information in the proactive notification includes at educational materials about at least one of: an adjustment to the selected potential risk relationship, and features of the selected potential risk relationship.

16. The method of claim 12 , wherein the upcoming life event is associated with at least one of: (i) a birth, (ii) a change in marital status, (iii) an address change, (iv) a change in employment, and (v) an age change.

17. A non-tangible, computer-readable medium storing instructions, that, when executed by a processor, cause the processor to perform a method to provide a risk relationship life event analytical modeling platform via a back-end application computer server of an enterprise, the method comprising:
determining, at a computer processor of the back-end application computer server, a selected potential risk relationship between the enterprise and an entity;
retrieving, from a risk relationship data store, an electronic record associated with the selected potential risk relationship, including at least one third-party indication associated with an upcoming life event and a communication address, wherein the risk relationship data store contains electronic records that represent a plural

Assignees

• Hartford Fire Insurance Comp

Inventors

• Amaral Jennifer Maia
• Brown Matthew
• Gimpl Christopher J

Classifications

• G06Q40/08 Primary

  Insurance · CPC title

• G06Q10/0635 Primary

  Risk analysis of enterprise or organisation activities · CPC title