US Patent Issued to Insurance Quantified on Nov. 4 for "System and method for machine learning modeling and estimation of loss" (Michigan Inventors)

ALEXANDRIA, Va., Nov. 6 -- United States Patent no. 12,462,309, issued on Nov. 4, was assigned to Insurance Quantified LLC (Dover, Del.).

"System and method for machine learning modeling and estimation of loss" was invented by Brian Theodore Bien (Northville, Mich.) and Alexander Douglas Findlater (Linden, Mich.).

According to the abstract* released by the U.S. Patent & Trademark Office: "Techniques including a system and method for analyzing insurance claims. The techniques may involve the use of a system. The system may include a plurality of machine learning models trained on a plurality of insurance loss claim records, the plurality of machine learning models comprising: at least one machine learning model trained on open claims recor...