Financial markets are a part of the changing business paradigms, across the globe - G. N. Bajpai
Today, globalization of competencies, thinking and perspectives has been the part of Strategic Action Plan of all the major players in the financial markets, globally - G. N. Bajpai
"The focus over the last year has been around proving the value of IT as a key contributor to business success," - David Holtzman
Real-time documents provide faster time to market with a personal touch - Penn National Insurance
Search Strategy
Search date: 14 Sept, 2006
Database: Micropatent (PatSearch Fulltext)
Search Strings, Hits & Scope:
Search I
Query: (Life) AND (Insurance OR Reinsurance OR Polic* OR Annuit*) - 532 hits
Search scope ? Title, Abstract & Claims, Date - 2000 till date
Databases: US, EP, WO, JP, DE, GB and FR (common for all)
Search II
Query: (computer) and (Insurance OR Reinsurance) and (Polic* OR Annuit*) ? 511 hits
Search scope ? Title, Abstract & Claims, Date 1991 till date
Search III
Query: (Insurance OR Reinsurance OR polic* or Annuit*) limited by assignee (Insurance OR Bank) ? 345 hits
Search scope ? Title, Abstract & Claims, Date ? 1991 till date ? 345 hits
Total # of records - Search I + Search II + Search III = 1239 (excluding duplicates and family members but includes off-target)
Note:All search hits exclude family members and duplicate patent records
Market data - Insurance sector
Insurance and risk management is an immense global industry. In America alone, the insurance business employs about 2.5 million people
Life and health insurance in the United States will be about a $725 billion in gross revenues business in 2006, compared to only about $500 billion in 2002
U.S. life insurance firms hold about $3.8 trillion in assets
Personal lines comprise another vast sector of insurance. For example, private passenger automobile insurance will be about a $172 billion annual premium market in the U.S. for 2006
Homeowners insurance is about a $50 billion market
Property and Casualty insurance premiums will total about $450 billion in the U.S. for 2006
Year wise IP activity
Graph depicts IP activity based on publication year
866 patents filed in a span of 16 years (1991 - 15th Sept, 2006). Out of which 792 patents filed in last 7 years
Trend indicates high IP activity during 2002 followed by sudden fall during 2003, since then recovering gradually
Assignee wise IP activity
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Graph depicts assignee and number of patents to their credit
MITSUI SUMITOMO INSURANCE leading in IP activity race with 60 patents to its credit, followed by TOKIO MARINE & FIRE INSURANCE with 49 and AIOI INSURANCE with 23 patent records to their credit
Note: Below mentioned assignees patents added together and presented as one in above graph
SUMITOMO LIFE INSURANCE and MITSUI SUMITOMO INSURANCE is presented as MITSUI SUMITOMO INSURANCE
GE MORTGAGE HOLDINGS and GE FINANCIAL ASSURANCE HOLDING is presented as GE FINANCIAL ASSURANCE HOLDING
NICHIDO FIRE & MARINE INSURANCE , TOKIO MARINE AND FIRE INSURANCE , TOKIO MARINE & NICHIDO LIFE INSURANCE , TOKIO MARINE & NICHIDO FIRE INSURANCE and TOKIO MARINE & FIRE INSURANCE is presented as TOKIO MARINE & FIRE INSURANCE
NIPPONKOA INSURANCE , NIPPON ELECTRIC and NIPPON LIFE INSURANCE is presented as NIPPON LIFE INSURANCE
Country wise IP activity
Graph indicates IP activity based on priority country
United States with 506 patent records is the most happening destination for insurance related IP activities followed by Japan (314) and Australia (9)