General insurance

2006-10-09T06:43:29Z

59.93.69.96:

'''General insurance:'''
General insurance policies, including automobile and homeowners policies, provide payments depending on the loss from a particular financial event. General insurance typically comprises any insurance that is not determined to be life insurance, and is called property and casualty insurance in the U.S..

Project scope

2006-10-09T06:42:44Z

59.93.69.96: /* Distribution of patents - Based on insurance type */

=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''
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=IP Activity Over Years=
The total count here is not equal to 1239, 8 patents (priority date prior to 1990) have already been dropped during 1st filtering
process.

[[image:IP activity.jpeg|thumb|center|700 px|IP Activity Over Years]]

'''Priority date:''' ''The initial date of filing of a patent application, normally in the applicant's domestic patent office.
This date is used to help determine the novelty of an invention.''
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=Assignees Involved – First cut=
* Assignee names available for only 687 out of 1239 patents
* 459 patents are having inventor name
* In 93 patent records assignee name is not available
* Dolcera will incorporate missing assignee names during the process wherever possible from known sources

[[image:Assignees Involved – First cut.jpeg|thumb|center|700 px|Assignees Involved – First cut]]
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=Other Assignees=
* There are other insurance companies also involved apart from key players which will be indicated in final report
* Technology companies apart from GE, IBM
# Accenture
# Nippon Electric
# Ntt DoCoMo
# Xerox Corp etc…..
* Banks involved are
# Bank Of America
# Bank Of Montreal
# Bank Of New York
# Chase Manhattan Bank
# First USA Bank
# JP Morgan Chase Bank
# UFJ Bank etc…….
* Above and other Insurance, Banking and Technology assignees will be incorporated in final report
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=Note=
* # of patents (1239) will be reduced after filtering off-target patents, so the numbers presented here will vary in final report
* Patents will be considered for analysis starting date from 1990
* Report completion will take 3-4 weeks
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=Deliverable=
* Content
# IP landscape
# Competitor landscape
# Market landscape
# Technology landscape
## Various dimensions under which patents have been filed
## Core insurance firms patents on their internal processes
## Technology companies and their activity in Insurance domain
# Geographic distribution
# Other standard Dolcera indicators (Dash board, Mind maps etc..)
* Report format
# Power point
# Wiki

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=Insurance - Background=
* '''Definition of Insurance :'''
** Insurance is defined as the equitable transfer of the risk of a potential loss, from one entity to another, in exchange for a premium and duty of care.

=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=

[[Image:Year.png|thumb|center|500 px|Assignee wise IP activity]]

=Assignee wise IP activity=
* Graph depicts assignee and number of patents to their credit based on their patent filing activity
* Assignees having single patent record depicted in [[table]]

[[Image:Assignee1.png|thumb|center|600 px|Assignee wise IP activity]]

=Country wise IP activity=
[[Image:Country.png|thumb|center|600 px|Assignee wise IP activity]]

=Distribution of patents - Based on insurance type=
* 200 patents have been analyzed and categorized based on type of insurance
* For definitions follow the [[link]]
* Number in () indicates # of patents
* '''Trend - Top insurance filing sectors'''
** Maximum number of patents file under [[general insurance]] category (110) followed by
** Life insurnace (37) and
** Automobile insurance (22)
[[Image:Overall_-_Insurance_types1.png|thumb|center|500 px|Distribution of patents - Level-I Analysis]]

=Distribution of patents - Based on activity=
* Above 200 patents further analyzed for more granularity to project various patterns involved
* '''Trend based on various activities under insurance: '''
** Maximum patent filed on insurance information management system (33) followed by
** Insurance contract management system (28) and
** on various parameters of insurance premium (18)

[[Image:LevelII.png|thumb|center|800 px|Distribution of patents - Level-II Analysis]]

=Overall Trend - Based on insurance sector and respective activities=
'''Automobile Insurance'''
* Customize insurance policy and customized insurance premium for different cars and people
* Keeping uninsured from driving

'''Casualty insurance'''
* Automatic accident reporting system of an insured person

'''Health insurance'''
* Pharmacy benefits calculator – selects a cost effective insurance plan form the group of plans

'''General Insurance'''
* Capability modeling – Computerized, customized and flexible insurance accepting, declining and design system
* Contract management –
** Converting current insurance contract to newly launch insurance terms
** System for decreasing insurance – Computer program calculates point based on the transaction data
** Reducing insurance policy issuing time by automating assessment processing - Application contents are automatically assessed after checking predefined conditions on applicant terminal
* Real-time insurance coverage verification system
* Online policy and insurance portfolio analysis for greater value and low risk – Analyzing data of present and proposed insurance policies and provides user comparative output for different policies
* Automated insurance processing – processes (mainly verifies) current status of insurance policies
* Risk assessment system – evaluates history of natural/man made disasters in a particular geographical area and sets insurance premium
* Insurance selling system – online auction for life settlement and vertical transactions
* Straight through processing – Insurance policy issuance and management system

'''Life Insurance'''
* Annuity – Automated benefit scheme administration apparatus
* Package – Selling other services (funeral plan) along with life insurance
* Retirement – Computer based retirement planning and income arrangement system

'''Property insurance'''
* GPS Mobile insurance system – Monitoring current location and condition

DolceraWiki - User contributions [en]

General insurance

Project scope