Nationwide Mutual Insurance has been granted a patent for a computer-implemented method that involves executing mathematical models during a transition period. The method includes receiving data describing sets of models, a transition period, and a launch event. The models in the transition-from set are executed on data prior to the launch event, while the models in the transition-to set are executed on data after the launch event. The outputs of both sets of models are combined and made available to consuming applications. GlobalData’s report on Nationwide Mutual Insurance gives a 360-degree view of the company including its patenting strategy. Buy the report here.
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According to GlobalData’s company profile on Nationwide Mutual Insurance, digital lending was a key innovation area identified from patents. Nationwide Mutual Insurance's grant share as of June 2023 was 1%. Grant share is based on the ratio of number of grants to total number of patents.
The patent is granted for a computer implemented method for transitioning and combining mathematical models
A recently granted patent (Publication Number: US11681840B1) describes a computer implemented method for transitioning between different sets of models in a data processing system. The method involves receiving data describing multiple sets of models, including a "transition-from" set and a "transition-to" set. The method also involves receiving data specifying a transition period of time, with a start point associated with a launch event.
Using a computer processor, the method executes the transition-from set on first sets of data that have a processing date prior to the launch event. It then executes the transition-to set on second sets of data that have a processing date after the launch event. After the transition period of time, the method executes the models in the transition-to set on both the first and second sets of data. The output of the execution of the transition-from set on the first sets of data is combined with the output of the execution of the transition-to set on the second sets of data. Finally, the output is made available to one or more consuming applications.
The patent also includes additional claims. Claim 2 specifies executing the models in the transition-from set on sets of data with a processing date after the launch event, and executing the models in the transition-to set on sets of data with a processing date prior to the launch event. Claim 3 describes discarding the output of the processing of the models in the transition-from set on sets of data with a processing date after the launch event, as well as discarding the output of the processing of the models in the transition-to set on sets of data with a processing date prior to the launch event. Claim 4 involves converting the output from a first format to a second format associated with the consuming application.
In addition to the method, the patent also describes a system comprising memory and at least one processor, as well as a non-transitory computer readable storage medium containing computer executable instructions that configure a computer to perform the method.
Overall, the granted patent outlines a computer implemented method for transitioning between different sets of models in a data processing system, allowing for the execution and combination of these models based on specified transition periods and launch events.
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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.
