Information describing employment, income and assets are tendered during a telephone interview, an electronic file is created, a credit report is secured and an algorithm delivers an automated underwriting decision.
The decision leaves for future litigation questions about whether software that involves an algorithm based on natural laws, for example, or patents on certain medical procedures will survive review.
The algorithm will be presented next week at MIT's Interdisciplinary Workshop on Information and Decision in Social Networks, should you wish to dig into the nitty gritty of the math behind the madness.