Systems, Methods, and Apparatus for Hazard Grade Determination for an Insurance Product

摘要

Systems, apparatus, methods, and articles of manufacture provide for determining a hazard grade associated with an insurance product (e.g., for use in calculating a premium for the insurance product). Some embodiments allow for an insurance agent to provide underwriting information and receive a quote based on an automated insurance underwriting process.

主权项

1. A specially-programmed computerized processing device, comprising:
a computerized processor; and a memory in communication with the processor, the memory storing specially-programmed instructions that when executed by the computerized processor result in: receiving, from a user device, an indication of identifying information of a business for which an insurance product is sought; determining a business classification of the business; determining at least one available insurance policy type for the insurance product based on the business classification; determining an initial hazard grade for the insurance product based on the business classification; providing, to the user device, a plurality of underwriting questions based on the at least one available insurance policy type; receiving, in response to the providing of the plurality of underwriting questions, at least one answer to the plurality of underwriting questions; determining, based on the initial hazard grade and the at least one answer to the plurality of underwriting questions, a final hazard grade for the insurance product; and determining a premium for the insurance product based on the final hazard grade.