Massachusetts Mutual Life Insurance‘s patent involves a system that uses an analytic server to evaluate user data for premium financing status. An artificial intelligence model is trained based on historical data to generate scores. The server dynamically adjusts weight factors based on responses to improve accuracy. GlobalData’s report on Massachusetts Mutual Life Insurance gives a 360-degree view of the company including its patenting strategy. Buy the report here.

According to GlobalData’s company profile on Massachusetts Mutual Life Insurance, Predictive modeling techniques was a key innovation area identified from patents. Massachusetts Mutual Life Insurance's grant share as of January 2024 was 95%. Grant share is based on the ratio of number of grants to total number of patents.

Artificial intelligence model for premium financing status evaluation

Source: United States Patent and Trademark Office (USPTO). Credit: Massachusetts Mutual Life Insurance Company

A recently granted patent (Publication Number: US11853913B1) outlines a method and system for utilizing artificial intelligence models to generate scores for users based on various attributes. The method involves executing an artificial intelligence model to identify weight factors and generate scores for users, with the ability to retrain the model based on user feedback. The system includes a server with a processor and computer-readable medium containing instructions to perform these operations. The artificial intelligence model can apply logistic regression algorithms and various other techniques to determine weight factors and predict user scores accurately.

Furthermore, the system allows for the periodic updating of the artificial intelligence model and the presentation of graphical indicators comparing the performance of the artificial intelligence model with a computer model. Users can receive confirmation prompts for generated scores and have the option to provide feedback, leading to the identification of new weight factors through model retraining. The system aims to provide a comprehensive approach to user scoring, with the ability to rank users based on their respective scores and display relevant information for decision-making purposes. Overall, the patent highlights a sophisticated method and system for leveraging artificial intelligence in user scoring applications, with a focus on accuracy, adaptability, and user interaction.

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GlobalData Patent Analytics tracks bibliographic data, legal events data, point in time patent ownerships, and backward and forward citations from global patenting offices. Textual analysis and official patent classifications are used to group patents into key thematic areas and link them to specific companies across the world’s largest industries.