SYSTEMS AND METHODS FOR PREDICTING THE VALUE OF PERSONAL PROPERTY

摘要

Accurate, appropriate valuation of the contents of a residence is facilitated based on characteristics of the household and the residence. These factors are used to estimate the proper value of the contents and may be based, at least in part and in various embodiments, on information collected in the course of the insurance underwriting process and from public and non-public consumer spending data.

主权项

1. A method of processing a property claim for an insurance policy held by a consumer, the method comprising:
providing a computing device having a processor, a database accessible to the processor, and a memory; storing in the database, for the consumer, (i) categories of personal property typically found in homes, (ii) a geographic location of the consumer's home, and (iii) demographic characteristics of the consumer; accessing a bulk source of consumer spending data for personal property; segregating the consumer spending data based on the categories of personal property, the geographic location, and the demographic characteristics; determining, using the processor, an inception date corresponding to when the consumer became an adult; computing an amount of time since the inception date; and compiling an aggregate lifetime spending amount for at least one category of property based on the segregated consumer spending data and the amount of time since the inception date, depleting the aggregate lifetime spending amount using at least one depletion factor indicative of an average property retention duration for the at least one category of property; receiving, from a claim adjuster, a percentage factor representing a portion of the consumer's home subject to the property claim; and determining, using the processor, a property claim value equal to the depleted aggregate lifetime spending amount times the percentage factor.