Craig D Isaacs

US Patent:

20220215476, Jul 7, 2022

Filed:

Jun 24, 2020

Appl. No.:

16/910687

Inventors:

- Bloomington IL, US
Jeff McCarty - Bloomington IL, US
Craig Dean Isaacs - Bloomington IL, US
Kelli Taylor - Bloomington IL, US
Sara Frankowiak - Bloomington IL, US

International Classification:

G06Q 40/08
G06Q 10/10
G06Q 30/08

Abstract:

A computer-implemented method includes dividing consumers into multiple affinity groups based upon characteristics and preferences of the consumers, at least by analyzing the characteristics and/or preferences using a machine learning model. The method also includes auctioning an opportunity to provide insurance for one or more of the affinity groups, receiving one or more bids for purchase and/or offers of insurance for the one or more of the affinity groups, and accepting a winning bid. The method further includes causing individual insurance policies or a group insurance policy to be provide to or updated for consumers associated with a particular affinity group corresponding to the winning bid, thereby providing lower cost insurance and/or insurance that is more reflective of actual risk, or lack thereof, for the consumers associated with the particular affinity group