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18377403. CLIMATE RISK ASSESSMENT SYSTEM AND METHOD FOR CLIMATE CHANGE MITIGATION (Allstate Insurance Company)

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CLIMATE RISK ASSESSMENT SYSTEM AND METHOD FOR CLIMATE CHANGE MITIGATION

Organization Name

Allstate Insurance Company

Inventor(s)

Andrew Young of Livingston NJ US

Marvin Lu of Chicago IL US

Sarah K. Webster of Wilmington NC US

CLIMATE RISK ASSESSMENT SYSTEM AND METHOD FOR CLIMATE CHANGE MITIGATION

This abstract first appeared for US patent application 18377403 titled 'CLIMATE RISK ASSESSMENT SYSTEM AND METHOD FOR CLIMATE CHANGE MITIGATION

Original Abstract Submitted

Disclosed are systems, apparatuses, methods, and computer readable medium for a climate risk assessment system. A disclosed climate risk assessment system can include a machine learning (ML) model or other neural network that is capable of understanding unstructured data to build loss models that can estimate effects of climate change and risks associated with building based on the effects of climate change. A method of the climate risk assessment system includes: receiving an unstructured document; identifying a property associated with the document based on geographical information extracted from the unstructured document; identifying at least one modified building property associated the unstructured document; updating a data structure corresponding to the building to include the at least one modified building property; and updating a loss model associated with the property based on the data structure.

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