AU2013205871A1 - Activity based costing underwriting tool - Google Patents

Abstract

A method o e aiu ting underwriting activities of a company providing insurance coverage i at least one computer, said niethod including receiving, via a computer network o an operator, and storing, in a first database of the at least 5 one computer, comp y formation data and activity information data corresponding With employees of e 'ompany, including a list of tasks associated with an underwriting activity e ormed by each employee, creating, using the at least one computer, employee r' ys to be presented to each employee based on the activity information data corr p ding with the employee, the survey presenting at least a 10 list of tasks perforie he employee and requesting that the employee assign a rank to each of the tas sed on time spent on the task, said rank falling within a numerical range,receiv ia a computer network from each employee, and storing, in a second database o t least one computer, survey results including a rank for each task, including a ft t nployee rank corresponding to a first task, and cost data 15 related to an employe ringg said underwriting activity for said company, calculating, using the a, t one computer, an amount of time spent on each task based upon the correspo i employee ranks, such that the amount of time spent on the first task is calcula s a function of a square of the first employee ranks divided by a sum of the s es of each of the employee ranks corresponding to the 20 first task, and generatin combining data from the first and second databases using the at least one c i iter, and providing the operator, via the computer network, a cost report bas on said calculated amount oftime spent and said cost data. SERVER NETWORK 228 246 268 200 E IRFACE DSLY 23O 202 .INTERFACE DIPA -- - - - - - :r -- ~ '~ ~ ~ -- '- -~ ~ ~ - - - - - ~ - - ~ '~--1 I MEMORY 22i6 comm. 270 266 Co. Profile DIS PLAY COMM. I NTRAEDISPLAY I DRIVER INTERFACE 1 2481 DRIVER I 20 MEMORY I 3 Eploee nfo252 Co. Profile survey Result~s 254 ActivIty Info E ~oea Inpu25 Employee Info FT~s258 Survey Results ' 242 Employee Input EVL. CONTROL 1 260 MyCONTROLI/ I OOL CIRCUIT IFTEs CIRCUIT 204 124 4 2721 SERVER USER COMPUTER 232 102 06/108 FIG. 2

Description

P/00/011 Regulation 3.2 AUSTRALIA Patents Act 1990 COMPLETE SPECIFICATION STANDARD PATENT Inv ntion Title: "ACTIVITY BASED COSTING UNDERWRITING TOOL" The following statement is a full dEscription of this invention, including the best method of performing it known to me/us: ACTIVITY BASED COSTING UNDERWRITING TOOL FIELD OF THE INVENTION [0001] The present invention relates generally to computer systems and software tools for an analyzing data, and in particular, to a system and method for evaluating underwriting activities. BACKGROUND OF THE INVENTION (0002] As competition in an industry increases, companies attempt to reduce costs while improving customer service. For example, insurance companies work to improve service to policyholders while reducing the. costs associated with all aspects of its insurance business, Insurance companies may wish to reduce the time required to perform underwriting activities to improve overall operating efficiency. In order to increase operating efficiency, a company can employ computer systems and software tools to analyze various tasks performed by employees. [0003] One way to evaluate activities is by developing an employee survey. By understanding how employees spend their time, the company can detennine the costs associated with specific tasks or activities perfonned by the employees. For example, anl insurance company could survey its employees to detennine the cost of performiing underwriting activities. (0004] The utility of the survey results depends on the survey questions and the accuracy of employee responses. It is therefore desirable to develop a method that provides flexibility in creating a survey and a user-friendly mechanism for administering the survey. Further, when evaluating a specific aspect of a company's activities, such as underwriting activities of an insurance company, it is beneficial to evaluate the activities in view of relevant categories of tasks associated with the activity. Such categories provide greater flexibility in analyzing data and generating reports. [0005) Accordingly, there is a need for a method of and system for evaluating underwriting activities. 1 SUMMARY OF THE INVENION 100061 In one aspect. the present invention provides a method of evaluating underwriting activities of a company providing insurance coverage using at least one computer. said method including receiving,. via a computer network From an operator, and storing. in a first database of the at least one computer. company information data and activity information data corresponding with an employees of the company. including a list of tasks associated with an underwriting activity performed by each empl)yeC. creating. using the at least one computer. an employee surveys to be prcscnted to each employee based on the activity information data corresponding with the emplo ce. the survey presenting at least a list of tasks performed by the employee and requesting that the employee assign a ank to each of the tasks based on time spent on the task. said rank falling within a numerical range. receiving, via a computer network from each employee, and storing. in a second database of the at least one computer. survey results including a rank for each task, including a first employee rank corresponding to a first task. and cost data related to an employee performing said underwriting activity for said company. calculating. using the at least one computer an amount of time spent on each task based upon the corresponding employee ranks, such that the amount of time spent on the first task is calculated as a function of a square of the first employee ranks divided by a sum of the squares of each of the employee ranks corresponding to the first task. and generating. by combining data from the first and second databases using the at least one computer. and providing the operator. via the computer network. a cost report based upon said calculated amount of time spent and said cost data. [00071 In another aspect, the present invention provides a method of evaluating underwriting activities of a company providing insurance coverage using at least one computer, said method including receiving, via a computer network from a operator. and storing in a tirst database of the at least one computer. company information data and activity infonnation data corresponding with employees of the company including a list of tasks associated with an Underwriting activity performed by each employee. creating. using the at least one computer. employee surveys to be presented to each employee based on the activity information data corresponding with the employee. the survey presenting at least a list of tasks performed by the employee and requesting that the employee assign a rank to each of the tasks based on time spent on the task. said rank filling within a numerical range. receiving, via a computer network from each employee, and storing, in a second database of' the at least one computer, survey results including a rank Ior each task. including a first employee rank corresponding to a first task. and salary data related to employees performing said underwriting activities for said company, calculating using the at least one computer. an amount of time spent on each tasks based upon the corresponding employee ranks such that the amount of tile spent on the first task is calculated as a function of a square of the first employee ranks di\ ided by a sum of the squares of each of the employ ee ranks corresponding to the first task. calculating using tile at least onlc computer a cost associated with each of tile tasks, agregating using tie at least one computer the cost associated with each of the tasks Ior a plurality of employees. and generating. by combining data from the first and second databases using the at least one computer, and providing to the operator. via tile computer network. a report based upon said calculated amount of time spent and aggregated said costs. 10007a I In a Lurtlier aspect, the present invention provides a s\steni for evaluoati1g underwriting activities of a colpan\ providil in surance coverage us1111 at least one computer. said System including a first database configured to store company information data and activity illOnrmation data corresponding with the employees of tie company including a list of tasks associated with an underwriting activity performed by each employee. a second database configured to store CIiployee input data. and a controllCr in communications with tile first and second databases. the controller configured to create employee surveys to be presented to each employee based on the activity information data corresponding with the employee: tile survey presenting at least a list of tasks performed by the employee and requesting that tile employee assign a rank to each of the tasks based on time spent Oil the task. said rank fallill within a nuimerical range. receive and store in said second database survey results including an employee rank for each task includliIg a first eiployee rank corresponding to a first task.

and cost data related to an employee performing said underwriting activity for said company. calculate an amount of time spent on each task based upon the corresponding employee ranks such that the amount of time spent on the first task is calculated as a Function of a square of the first employee ranks divided by a sum of the squares of each of Ihe employee ranks corresponding to the first task. and generate. by combining data from the first and second databases. a cost report based upon said calculated amount of tinic spent and said cost data. 10007bj In vet another aspect. the present invention provides a system of evaluating underwriting activities or a company providing insurance coverage using at least one computer, said system including a first database configured to store company information data and activity information data corresponding with the employees of the company including a list of tasks associated with an underwrite in activity performed by each employee. a second database configured to store enployec input data. a controller in communication with the first and second databases. the controller conigured to create employee surveys to be presented to each employee based on the activity information data corresponding with the employee. the survey presenting at least a list of tasks performed by the employee and requesting that the employee assign a rank to cacti of the tasks based on time spent on the task. said rank 1hlling within a numerical range. receive and store in said second database survey results including an employee rank for each task including a first employee rank corresponding to a first task, and salary data related to eniployces performing said underwriting activities for said company, calculate an amount of time spent on each task based upon the corresponding employee ranks such that the amount of ti me spent oin the first task is calculated as a function of a square of the first employee rank divided by a sum of the squares of each of the employee ranks corresponding to the first task. calculate a cost associated with each task. aggregate the costL associated with each of the tasks for a plural itV of employees: and generate. by combining data from the Ilirst and second databases. a cost report based upon said calculated amount of time spent and said aggregated costs.

-3 h BRILF DI:SCRITION 01' TI DRAWINGS 100081 Fig. 1 is a system diagram of a network employing an embodiment of the present invention: 100091 Fig. 2 is a block diagram of a system according to an embodiment of the present invention: 100101 Fig. 3 is a user interface enabling user access according to an embodiment of the present in ention: 100111 Fig. 4 is a Iser intcrfacc For creating a line of business according to an embodiment of the present invention: 10012] Fig. 5 is a user interface for creating a transaction type according to an embodiment of the present invention: 100131 Fig. 6 is a user interface for entering organizational entity -information according to an embodiment of the present invention. 100141 Fig. 7 is a user interface for attaching transaction types to orgaiz17ational entities according to an embodiment of-the present invention: 100151 Fig. 8 is a user interface for entry volume information for transaction types according to an embodiment of the present invention: [00161 Fig. 9 is a user interface for entering task information according to an embodiment ol the present invention: 100171 Fig. 10 is a portion of an exemplary survey related to underwriting activities according to an embodiment of the present invention: 100181 Fig. I I is a user interface enabling a user to access an electronic survey according to an embodiment of the present in ention: 100191 Fig. 12 is a user interface lor entcring lask data according to an embodiment of the present invention: 10020] Fig. 13 is a portion of an exemplary report related to underwriting activities according to an embodiment of the present invention: 100211 Fig. 14 is a l1owk chart showing a method of evaluating underwriting activities of the company according to an embodiment of the present invention: 100221 Fig, 15 is a more detailed flow chart showing a method of evaluating underwriting activities according to an embodiment of the present invention: -3c 100231 Fig. 16 is a flowchart showing a method of entering information related to underwriting activities according to an embodiment of the present invention. [0024] Fig. 17 is a block diagram showing the data files accessed to generate a report according to an embodiment of thc present invention. 10025] Fig. 18 is a flow chart showing a method for generating a report related to underwritim activities according to an embodiment of the present invention: and [00261 Fig. 19 is a database show ing a sample calculation for generating a report related to underwriting activities according to an embodiment of the present invention. DETALIED DESCRIPTION OF THE DRAWINGS [00271 Turning first to Fig. . a s stem diagram of a network employing the present invention is shown. In particular. a sen~er 102 is coupled to network 104. The network 104 could be any type of communication network. such as a local area network, a wide area network. or a network enabling access to another device by way of the Internet. Server 102 communicates with a LISCr computer 106 by way of the network 104. The network 104 could be implemented using a wireless comm ulication network. a wireline communication network. or some combination of a wireless and wirehne communication network. The method and system of the present invention also contemplates the use of portable devices. such as a portable user computer 108.

[0028] Turning now to Fig. 2, a block diagram of the system of Fig. I according to the present invention is shown. In particular, server 102 is coupled to a user computer 106 or portable computer 108 by vay of a communication link 202. The communication link could be implemented by any wired or wireless means. For example, the communication link 202 to be implemented by the network 104, or simply by the use of a cable. Alternatively, communication between the server and the user computer could be enabled by usc of portable memory devices, such as CDs or disks, accessible by an input/output port. 10029] Server 102 comprises a control circuit 204 having a user interface 206 and coupled to a memory 208. The memory 208 preferably comprises a plurality of data files including a company profile 210, activity information 212, employee information 214, survey results 216, employee input 218, and full time equivalents (FTEs) 220. As will be described in detail later, FTE's can be calculated in real time upon demand. The memory 208 also comprises an evaluation tool 222. The evaluation tool comprises a software program for accessing the various data files of the memory 108. The various data files and function of the evaluation tool 222 will be described in more detail in reference to later figures. The control circuit 204 is also coupled to a display driver 226 and a display 228. Finally, a communication interface 230 enables communication by way of the communication link 202 with the user computer 106. Alternatively, an I/O port 232 enables the transfer of data and information by way of a memory transfer device, such as a disk or CD-ROM. [0030] Similarly, user computer 106 and portable user computer 108 comprises a control circuit 244 having a user interface 246 and coupled to a memory 248. The memory 248 preferably comprises a plurality of corresponding data files including a company profile 250, activity information 252, employee information 254, survey results 256, employee input 258, and FTEs 260. While the data files of the server may retain information related to all users, the data file of the user computer only includes data for users of that particular user computer. The memory 248 also comprises an evaluation tool 262. The control circuit 244 is also coupled to a display driver 266 and display 268. Finally, a communication interface 270 enables communication by way of the communication link 4 202 with the user computer 106. Alternatively, an I/O port 232 enables the transfer of data and information. [00311 As described above, company information 210 is collected and stored in memory 208 of server computer 102. The company information can include a total number of employees, the number of employees per office, a list ofjob positions in the company, the median salary for each job position, benefits costs for each job position, and the number of employees in each job position. To provide added flexibility in the survey analysis, the job positions can be assigned to a job category such as "administration" or "underwriting." Company profile information 210 is used to create the survey that is presented to the employee. In general, the survey presents a list of the tasks performed by an employee and requests the employee to assign a rank to each of the tasks based on the amount of time the employee spends on the activity. The survey creation and contents are explained in greater detail below. [00321 Activity information 212 preferably includes a task List of all tasks, or activities, performed by employees of the company. In the task list, a company's tasks related to underwriting activities can be assigned to a line of business and/or transaction type. The task list is specific to a line of business of the company, including (he company's claims and underwriting services. The nature of underwriting generally involves three different types of transaction types: new business, renewals, and endorsements. The tasks that are specific to new business are listed with a transaction type designation NB in the beginning of the task name, while renewals have a transaction type designation RE, and endorsements have a transaction type designation EN, or some other appropriate designation. Tasks which are not associated to any of the three types are listed as general with a GEN designation in the task name. A task which is done in all three transaction types should preferably appear three times in the task list, with the proper transaction type in the task description. Each task is also preferably designated as core or non-core. A core task directly affects the underwriting decision, while a non-core task leads to the underwriting decision. The task list can be modified within the tool using the edit button, Once the general task list has been modified it must be updated in the tool. 100331 Certain intbrnation will need to be determined and gathered in order to be entered into the evaluation tool of the present invention, including process and phase 5 categories. Processes and phase categories are various activities which may be performed for a given transaction type, or all transaction type, are preferably selected to enahle benchmarking. Tasks which fall under the general phase categories (i.e. administration, book/producer management, correspondence, and supervision) can be placed under the general process category since they are not specifically associated as being either a new business, endorsement, or renewal task. 100341 Examples of phase and process categories related to underwriting activities are shown below. Phase Categories: , Account Initiation 2. Administration 3. Book and Issue Policy 4. BooklProducer Management 5. Correspondence 6. Customer Service 7. Identify and Evaluate Exposure 8. Make Underwriting Decision 9. Negotiate 10. Set Price and Premium 11. Supervision Process Categories: 1. Al_Endorsements (Account Initiation) 2. AINew Business 3. AlRenewal 4. B3P_Endorsements (Book and Issue Policy) 5. BIP New Business 6. BIP_Renewal 7. CSEndorsements (Customer Service) 8. CSNew Business 9. CS Renewal 10. IEEEndorsements (Identify and Evaluate Exposure) 11. IEE Now Business 12. EE Renewal 13. VRID _Endorsements (Make Underwriting D&ision) 14. MUD New Business 15. MUDRenewal 16. N Endorsements (Negotiate) 17. N New Business 18.N_Renewal 6 19, SPP Endorsements (Set Price and Premium) 20. SPPNew Business 21. SPPRenewal 22. General [0035] In addition to the task list, activity information 212 can include the company name; total number of employees, claim volume, claim types, organizational entities, etc. Organizational entities, e.g., "Chicago North Clark Office, Unit A," describe the structural units of a company with great flexibility. The company is not limited to traditional, rigid descriptions, e.g., headquarters or branch office, but can group its activities and employees into any organizational scheme for purposes of the survey. The survey can then be administered to employees in select organizational entities, or the survey results can be reported and the organizational entity level. [0036] The memory 208 also includes employee information 214, which can include information related to different companies, and can be itemized for individual companies. Finally, memory 208 contains survey results 216 based upon employee input 218 entered in response to the survey. Except for information entered in the exemplary survey of Fig. 10 or user interface of Fig. 11, the information related to various companies and employees is preferably entered by an operator, which could be for example a computer or information technology specialist. The employee or user participating in the survey enters specific information related to his or her tasks,.as described in reference to Figs. 10 and 11. [0037] Turning now to Fig. 3, a user interface enabling user.access according to the present invention is shown. In particular, a user interface 302, such as a window or web page displayed on a computer, enables an operator to access the evaluation tool of the present invention. An operator can access various features by selecting the feature by way of the user interface.. For example, an operator can select a User Access Control feature 304, an Add New Company feature 306, a Set Up Company Information feature 308, and Generate Report feature 310, or a Take Survey feature 312. The user interface also preferably provides information regarding a current user in a user field area 314. Finally, a help area 316 provides information accessible by the operator to enable use of 7 the evaluaLion tool. The various features described above are preferably available in any of the user interfaces, as shown in Figs. 4-8. [0038] Also shown in Fig. 3 is a plurality of user entry fields. In particular, a user entry window 320 comprises a LISCr field 322, a Jogin field 324, and a domain name field 326. These fields enable an operator to set up the proper information for a user of the evaluation tool. That is, in addition to enabling a user to access the evaluation tool by entry information related to the user, the operator can also enter information related to access permission by selecting various fields in an access permission field 328. Similarly, the operator can indicate whether the user is involved in claims or underwriting by selecting the appropriate fields in the function field 330. Accordingly, the various tasks associated with claims or underwriting, for example, would automatically be accessed for that user's survey. That is, a users survey would automatically be populated with tasks associated with the particular services of an insurance business, such as claims or underwriting service. Finally, the operator can select an appropriate company in the company field 332. As shown above the window 320, previously entered users are displayed. The operator has the option to edit or remove these users as desired. [00391 Turning now to Fig. 4, a user interface for creating a line of business according to the present invention is shown. Because different insurance companies and/or offices of an insurance company provide different insurance coverage, it is desirable to add a line of. business associated with the insurance company. As shown in the user portion 402, an operator can add a line of business related to an insurance company by accessing an entry field 404. In particular, the operator enters the line of business in the user entry field 406, and adds the line of business by selecting the add button 408. Because underwriting is performed for different transactions, it is desirable to indicate the type of transaction for a given line of business. Accordingly, the various transaction types are preferably provided under the line of business, as shown in Fig. 4. An operator can also access a user interface for creating a transaction type according to the present invention, as shown in Fig. 5. In particular, a transaction type name can be entered in a user entry field 506. These can then be selected by an add button 508 to enter the new transaction type. As shown above, three transaction types are included. In particular, new business, renewal, 8 and endorsement transaction types are shown. Thc operator can select to remove ihe transaction type if desired. 10040] Turning now to Fig. 6, a uscr interface for entering organizational entity information according to the present invention is shown. In particular, au operator Caln enter information in entity information window 604. The operator can enter (he name and city in entry fields 608 and 610. The operator can also enter entity employee information in a window 612. The operator can enter the total number of employees in an entry field 614, and update the employee information by selecting the update button 616. The operator can then enter lincs of business and transaction types associated with thc entity in a window 618. As shown in Fig. 7, a user interface 702 for attaching transaction types to lines of businesses according to the present invention is shown. In pailicular, a user can select a transaction type by selecting a box associated with a line of business. [0041) Turning now to Fig. 8, a user interface 802 for entiy of volume information for transaction types according to the present invention is shown. In particular, an operator can enter information related to the number of new submissions, new policies, policies quoted, policies bound, renewing policies, policies renewed, and endorsements. This information can be entered at the office level or at the company level. The operator can then update by selecting the update button 804. 100421 Turning now to Fig. 9, a user interface 902 for entering task information according to the present invention is shown. In particular, an Add Task Information field 904 includes a number of entry or selection fields, including a Task Name field 906, a Task Description field 908, a Phase field 910, a Process field 912. An operator can also select to indicate that the task is associated with a specific line of business by selecting a box 914, or indicated that the task is a core or non-core task by selecting a core or non core designation 916. The operator can also indicate where the task should be positioned in the list of task by entering a task number in a field 918, and saving or resetting the task by selecting a save button 920 or reset button 922. Tasks associated with other aspects of the insurance business, such as claims, for example, could also be entered according to the present invention. As described above, the various tasks associated with various services of an insurance company, such as claims or underwriting, are used to populate a 9 survey responded to by a user depending upon the user's participation in an aspect of that business. [0043) Turning now to Fig. 10, a portion of an exemplary survey related to underwriting activities according to the present invention is shown. In particular, the exemplary survey of Fig. 10, is preferably a paper survey which enables a user to respond to an initial survey to simplify the electronic survey. The user preferably enters general information regardinghis or her identity and background. The user then answers a plurality of questions. The questions could be numbered and describe a particular task and subtask. The user can then enter whether the task is performed. If the task is performed, the user can then indicate whether the task is a significant task in terms of volume, for example by indicating high, medium or low. The user then ranks the task from 1-15. For example, tasks categorized as high would be given a numeric ranking between I1-15, tasks categorized as medium would be given a numeric ranking between 6-10, and tasks categorized as low would be given a numeric ranking between 1-5. By first indicating whether a task is given a high, medium or low designation, it is easier for a user to give a numeric ranking required by the electronic survey described in reference to Fig. 12. By enabling simple criteria for characterizing transaction types for underwriting activities, the results of the survey can provide significant information. One benefit of employing a paper survey prior to entering information on an electronic survey is that a user does not need to read questions that were not designated as a task that they completed. Accordingly, the users will need less computer time to complete the electronic survey, thereby minimizing the requirements for computer resources. [00441 Turning now to Fig. 11, a user interface 1102 enabling a user to access an electronic survey according to the present invention is shown. In particular, a user enters general information in an information field I 104. The information could include, for example; the user's organizational entity, the average hours worked per week, the number of years in the industry, the number of years with the company, and the number or years in underwriting, for example, The user could also enter specific information related to the user's position in a field 1106. This information could include a job title, whether the job is full time or part time (including the percentage of time if part time), the number of years in the current position, and the number of direct reports if a manager or supervisor. 10 A user could also enter lines of businesses or transaction types in a field ) 108. Also, a "pop-up" box I 110 could appear in response to (lie selection of a save/continue button 1112. The pop-up box I110 provides a user number, such as 100 as shown, enabling a user to Jogin to the survey to avoid having to re-enter the information if the survey is interrupted or tcrinifated early. Finally, a cancel button I 14 could be selected to return to a previous screen. [00451 Turning now to Fig. 12, a uscr interface for entering tasks according to the present invention is shown. In particular, various tasks associated with a line of business are listed numerically in a task number column 1204, enabling a user to enter a rank in a rank column 1206 associated with the description in a task name column 1208. Preferably, any of the selection options or fields ofany of the user interfaces described would include a "mouse over" feature, whereby additional information regarding the selection option or field would be provided when the operator or user would use a computer mouse to place an arrow over the selection option or field, without selecting the option or field. Finally, information regarding hours allocated to the task, such as hours per week, or percentage of time can be shown in columns 1212 and 1214, respectively, in response to the selection of the analyse button 1216 ora save button 1218, which would also same the results. By selecting the rank column, the tasks are sorted according to the rank the user input into the fields starting with the largest ranks at the top of the list. Enabling the user to view all the tasks that are of the same rank and determine if they all take relatively the same amount of time to complete. By selecting the Task # column, the tasks will be soiled based on the task number staying with task-#1 for easy reference in relation to the paper survey. Finally, the user could end the survey by selecting an exit button 1220. [0046] Turning now to Fig. 13, a portion of an exemplary report related to underwriting activities according to the present invention is shown. In particular, the exemplary report would be categorized by the task, as described above. The report would also indicate whether the task was a core or non-core task. The report would preferably indicate a percentage of tirne spent any particular task, the FTE, and the costs associated with performing the task. Each phase would preferably be totaled. For example, a total for the account initiation phases would be provided as shown in Fig. 132.. Although certain 11 categories are shown, other information could be included in the report according to the present invention. [0047) Turning now to Fig. 14, a flow chart shows a method of evaluating underwriting activities of the company according to (he present invention. In particular, company and user information is entered to enable underwriting analysis at a step 1402, Surveys of employees are conducted to analyze underwriting activities iii a step 1404. Finally, reports are generated based upon underwriting activities at a step 1406. [00481 Turning now to Fig. 15, a more detailed flow chart shows a method of evaluating underwriting activities according to the present invention. In particular, users of the evaluation tool are entered and/or edited at a step 1502. Company information is also entered at a step 1504. Lines of businesses for the company are created at a step 1506. Transaction types for a business are created a step 1508. For example, transaction types for underwriting activities could include new business, renewals, or endorsements. Organizational entity information is created at a step 1510. A line of business and transaction type information is attached to the organizational entity at a step 1512. Volume information for the line of business and transaction types is provided at a step 1514. A list of jobs is created at a step 1516. Phase categories are created at a step 15 18. Process categories are created at a step 1520. A task list is created at a step 1522. Surveys are conducted of employees to analyze underwriting activities at a set 1524. Finally, reports are generated based upon underwriting activities in a step 1526, [0049) Turning now to Fig. 16, a flowchart shows a method of a user entering information related to underwriting activities according to the present invention is shown. In particular, a user enters general information in at a step 1602. The user then enters a rank for a task on a numeric scale at a step 1604. Responses are then analyzed at a step 1606. Data regarding time and percentage of time on designated tasks is then provided at a step 1608. Tasks can then be displayed according to the amount of time spent on a task at a step 1610 , 100501 Turning nox to Fig. 17, a block diagram shows the data files accessed to generate a report according to the present invention. In particular, data 1702 from a 12 first database comprising employee information 214 is combined with data 1704 from a second database comprising employee input 218 in [he control circuit 214 to generate output data 1706. The data 1702 could comprise information entered for the user, for example information entered in Fig. 3 during the set up of employee data. The data 1704 could be information entered by the employee, for example information entered by the employee in Fig. 11. Data provided by the control the control circuit would include at least salary information and other costs associated with the employee provided by the employee and/or the employer, as well as ranking data related to tasks provided by the employees. (00511 Turning now to Fig. 18, a more detailed flow chart a method for generating a report related to underwriting activities according to the present invention. The ranks entered by users for a plurality of tasks are received at a step 1802. The ranks entered by user are squared at a step 1804. The squares of each rank axe sumnmed to create squared rank sum at a step 1806. The square of the rank is divided by the sum of the squared ranks to create full time equivalent representing a percentage of time spend on a task at a step 1808. The hours per week an employees spends on particular tasks is calculated for each task by multiplying the fill time equivalent by the typical work week, such as 40 hours, at a step 1810. An example calculation showing the calculation of a full time equivalent and other desired report data is shown in Fig. 18. It is then determined whether minutes per day is desired to be calculated at a step 1812. If so, the hours per week for a task is divided by five and multiplied by 60 at a step 1814. It is also determined whether hours per month is desired to be calculated at a step 1716. If so, the hours per week is multiplied by 4 at a step 18 18. A cost for each employee performing a task is then calculated at a step 1820. The cost is calculated based upon the amount of tiie spent on a task multiplied by the employees salary, or an average salary for a certain grade level for the employee. Finally, the costs are aggregated to determine (he costs of a plurality of employees performing a task, and to calculate overall total costs associated with underwriting activities at a step 1822, That is, the amount of time spent by each employee on a give task is multiplied by the cost per time unit for that employee (or 13 - 14 average cost for that level employee, and the costs related to a task for all of the employees is aggregated. 10052] Turning now to Fig. 19, a database showing a sample calculation for generating a report related to underwriting activities according to the present 5 invention is shown, As can be seen in this example, 10 tasks are listed, and the employee ranked the first three tasks with a one, the second three tasks with a two, the third three tasks with a three and the last task with a 4. A square of the rank is then generated, and a full time equivalent is calculated by dividing the square of the rank by the sum of all of the squares of the ranks. Finally, hours per month and 10 minutOs per dlay can be calculated and put into a report. Costs for the insurance company completing various tasks can then be calculated for a given period by multiplying the amount of time spent during that period by the employee's salary or average salary for the employee's level. The costs for the specific tasks as well as overall underwriting costs can be determined by aggregating the costs for a desired 15 category (i.e. a specific task or group of tasks) over a given period. [00531 It can therefore be appreciated that tie new and novel method of evaluating underwriting activities has been described. It will be appreciated by those skilled in the art that, given the teaching herein, numerous alternatives and equivalents will be seen to exist which incorporate the disclosed invention. As a 20 result, the invention is not to be limited by the foregoing embodiments, but only -by the following claims. 100541 Throughout this specification and the claims which follow, unless the context requires otherwise, (he word "comprise", and variations such as "comprises" and "comprising", will be understood to imply the inclusion of a stated integer or 25 step or group of integers or steps but not the exclusion of any other integer or step or group of integers or steps. [00551 The reference to any prior art in this specification is not, and should not, be taken as an acknowledgment or any form or suggestion that the prior art forns part of the common general knowledge in Australia. 30

Claims (19)

1. A method of evaluating underwriting activities of a company providing insurance coverage using at least one computer, said method including: 5 receiving, via a computer network from an operator, and storing, in a first database of the at least one computer, company information data and activity information data corresponding with employees of the company, including a list of tasks associated with an underwriting activity performed by each employee; creating, using the at least one computer, employee surveys to be presented to 10 each employee based on the activity information data con-esponding with the employee, the survey presenting at least a list of tasks performed by the employee and requesting that the employee assign a rank to each of the tasks based on time spent on the task, said rank falling within a numerical range; receiving, via a computer network from each employee, and storing, in a 15 second database of the at least one computer, survey results including a rank for each task, including a first employee rank corresponding to a first task, and cost data related to an employee performing said underwriting activity for said company; calculating, using the at least one computer, an amount of time spent on each task based upon the corresponding employee ranks, such that the amount of time 20 spent on the first task is calculated as a function of a square of the first employee ranks divided by a sum of the squares of each of the employee ranks corresponding to the first task; and generating, by combining data from the first and second databases using the at least one computer, and providing the operator, via the computer network, a cost 25 report based upon said calculated amount of time spent and said cost data.

2. A method according to claim 1, wherein calculating the time spent includes calculating the number of hours per week on a task. 30

3. A method according to either claim I or claim 2, wherein calculating the time spent includes calculating the number of hours per month on a task. -16

4. A method according to any one of the preceding claims, wherein calculating the time spent includes calculating the number of minutes per day on a task.

5 5. A method accord ng to any one of the preceding claims, further including calculating a cost associa ed with a task.

6. A method accord g to claim 5, where n calculating cost information includes aggregating the cost asso iated with a task for a plurality of employees. 10

7. A method of eva eating underwriting activities of a company providing insurance coverage using -t least one computer, said method including: receiving, via a c computer network from an operator, and storing, in a first database of the at least >ne computer, con pany information data and activity 15 information data correspo hiding with employees of the company including a list of tasks associated with an u iderwriting activity performed by each employee; creating, using the At least one computer, employee surveys to be presented to each employee based on the activity information data corresponding with the employee, the survey pres nting at least a list of tasks performed by the employee 20 and requesting that the en ployee assign a rank to each of the tasks based on time spent on the task, said ran: falling within a numerical range; receiving, via a co mputer network from each employee, and storing, in a second database of the at Il st one computer, survey results include ing a rank for each task, including a first emp oyee rank corresponding to a first task, and salary data 25 related to employees perfo -ming said underwriting activities for said company; calculating, using th c at least one computer, an amount of time spent on each task based upon the corre ponding employee ranks such that the amount of time spent on the first task is c Iculated as a function of a square of the first employee ranks divided by a sum of tt e squares of each of the employee ranks corresponding to 30 the first task; -17 calculating, using the at least one computer, a cost associated with each of the tasks; aggregating using the at least one con puter, the cost associated with each of the tasks for a plurality of employees; and 5 generating, by combining data from the first and second databases using the at least one computer, and providing to the operator, via the computer network, a report based upon said calculated amount of time spent and aggregated said costs.

8. A system for evaluating underwriting activities of a company providing 10 insurance coverage using at least one computer, said system including: a first database configured to store c rmpany information data and activity information data corresponding with the employees of the company including a list of tasks associated with an underwriting active ity performed by each employee; a second database configured to store employee input data; and 15 a controller in communication with the first and second databases, the controller configured to: create employee surveys to be prescpted to each employee based on the activity information data corresponding with the employee, the survey presenting at least a list of tasks performed by the employee and requesting that the employee 20 assign a rank to each ot'the tasks based on tilie spent on the task, said rank falling within a numerical range; receive and store in said second database survey results including an employee rank for each task including a first employee rank corresponding to a first task, and cost data related to an employee performing said underwriting activity for 25 said company; calculate an amount of time spent on each task based upon the corresponding employee ranks such that the amount of time spent on the first task is calculated as a function of a square of the first employee ran s divided by a sum of the squares of each of the employee ranks corrCsponding to the first task; and 30 generate, by combining data from the first and second databases, a cost report based upon said calculated amount of time spent and said cost data. -18

9. A system according to clairn 8, wherein calculating the time spent includes squaring a rank entered for each task. 5

10, A system according to claim 9, wherein calculating the time spent includes summing the squares of the ranks entered for a plurality of tasks.

11. A system according to claim 10, wherein calculating the time spent includes dividing the square of the rank by the sum of the square of the rank to generate a full 10 time equivalent for each task.

12. A system according to any one of claims 8 to 11, wherein calculating the time spent includes calculating the number of hours per week on a task. 15

13. A system according to any one of claims 8 to 12, wherein calculating the time spent includes calculating the number of hours per month on a task.

14. A system according to any one of claims 8 to 13, wherein calculating the time spent includes calculating the number of minutes per day on a task. 20

15. A system according to any one of claims 8 to 14, further including calculating a cost associated with a task.

16. A system according to claim 15, wherein calculating cost information 25 includes aggregating the cost associated with a task for a plurality of employees.

17. A system of evaluating underwriting activities of a company providing insurance coverage using at least one computer, said system including: a first database configured to store company information data and activity 30 information data corresponding with the employees of the company including a list of tasks associated with an underwriting activity performed by each employee; -19 a second database configured to store employee input data; a controller in communication with the first and second databases, the controller configured to: create employee surveys to be presented to each employee based on the 5 activity information data corresponding with the employee, the survey presenting at least a list of tasks performed by the employee and requesting that the employee assign a rank to each of the tasks based on time spent on the task, said rank falling within a numerical range; receive and store in said second database survey results including an 10 employee rank for each task, including a first employee rank corresponding to a first task, and salary data related to employees performing said underwriting activities for said company; calculate an amount of time spent on each task based upon the corresponding employee ranks such that the amount of time spent on the first task is 15 calculated as a function of a square of the first employee rank divided by a sum of the squares of each of the employee ranks corresponding to the first task; calculate a cost associated with each task; aggregate the cost associated with each of the tasks for a plurality of employees; and 20 generate, by combining data from the first and second databases, a cost report based upon said calculated amount of time spent and said aggregated costs.

18. A method according to either claim I or claim 7, substantially as hereinbefore described with reference to the accompanying figures. 25

19. A system according to either claim 8 or claim 17, substantially as hereinbefore described with reference to the accompanying figures.