==Rationale==* 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
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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.''----=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]]----=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----=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----=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 ----=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<br>
* 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<br>
* 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
[[Image:PUYear.png|thumb|center|600 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 with less than 3 patent record is depicted in [[tableTABLE]]* 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
[[Image:Assignee1.png|thumb|center|600 px|Assignee wise IP activity]]
[[Image:PAssignee1.png|thumb|center|700 px|Assignee wise IP activity]] '''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)* [[Country code]]
[[Image:PCountry.png|thumb|center|600 px|Assignee wise IP activity]]
==Distribution of patents - Based on insurance type==
* 95 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 life insurance category (39) followed by
[[Image:Insurance_Types_(95).jpeg|thumb|center|600 px|Distribution of patents - Level-I Analysis]]
==Distribution of patents - Based on activity==
* Above 95 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 (23) followed by
** Insurance payment process (21) and on
** Insurance selling system and various selling parameters (15)
[[Image:Insurance_activityInsurance_activity_-_95_(2).png|thumb|center|850 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
'''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'''
'''Property insurance'''
* GPS Mobile insurance system – Monitoring current location and condition
==Insurance type Vs assignee and their activities==
'''Automobile insurance'''
[[Image:Automobile.png|thumb|center|850 px|Automobile insurance - Assignee wise patent distribution]]