Systems and methods for managing insurance for devices located within a property based on insurance-related events

• US 10,055,793 B1
• Filed: 04/22/2015
• Issued: 08/21/2018
• Est. Priority Date: 04/25/2014
• Status: Active Grant

• Current Assignee: State Farm Mutual Automobile Insurance Company (State Farm)
• Original Assignee: State Farm Mutual Automobile Insurance Company (State Farm)
• Inventors: Call, Shawn M., Hakimi-Boushehri, Daryoush, Weekes, John H., Bryant, Ronny S., Criswell, Jennifer, Binion, Todd, Jordan, II, Jackie O., McDermeit, Elisabeth, Donovan, John
• Primary Examiner(s): Kwong, Cho
• Application Number:
  US14/692,943
• Time in Patent Office: 1,217 Days
• Field of Search: 705 4
• CPC Class Codes: E03B 7/071 Arrangement of safety devices in domestic pipe systems, e.g. devices for automatic shut-off
• CPC Class Codes: G05B 15/02 electric
• CPC Class Codes: G05B 2219/163 Domotique, domestic, home control, automation, smart, intelligent house
• CPC Class Codes: G05B 2219/2642 Domotique, domestic, home control, automation, smart house
• CPC Class Codes: G06Q 10/10 Office automation; Time management
• CPC Class Codes: G06Q 30/0278 Product appraisal
• CPC Class Codes: G06Q 40/08 Insurance
• CPC Class Codes: G06Q 50/16 Real estate
• CPC Class Codes: G06Q 50/163 Real estate management
• CPC Class Codes: G08B 21/043 detecting an emergency event, e.g. a fall
• CPC Class Codes: G08B 21/20 responsive to moisture
• CPC Class Codes: G16Y 10/50 Finance; Insurance
• CPC Class Codes: G16Y 40/10 Detection; Monitoring
• CPC Class Codes: H04L 12/2803 Home automation networks
• CPC Class Codes: H04L 12/2823 Reporting information sensed by appliance or service execution status of appliance services in a home automation network device-related reporting H04L43/065; arrangements in telecontrol or telemetry systems for selectively calling a substation from a main station, in which substation desired apparatus is selected for applying a control signal thereto or for obtaining measured values therefrom H04Q9/00
• CPC Class Codes: H04L 12/2827 Reporting to a device within the home network; wherein the reception of the information reported automatically triggers the execution of a home appliance functionality

Abstract

Methods and systems for processing insurance policies associated with properties may be provided. A property may be populated with a plurality of smart devices or devices that are connected to a central controller, such as via wired or wireless communication. The plurality of devices may be covered by an insurance policy, such as a homeowners, renters, or personal articles insurance policy. The central controller may detect an insurance-related event and may retrieve sensor data and pricing information from one or more of the devices. The central controller may assess damage to the devices and may generate a proposed insurance claim based upon damage to the identified devices. Additionally, the central controller may facilitate a processing of the proposed insurance claim with a customer and an insurance provider. The smart devices may be, or be attached to, appliances, electronics, computers, televisions, jewelry, vehicles, furniture, or other equipment or personal belongings.

Claims

1. A computer-implemented method of processing insurance claims for an insurance policy associated with a property, the property populated with a controller in communication with a plurality of devices in the property, each of the plurality of devices configured to monitor various conditions associated with the property, the method comprising:

receiving, via a first communication network, a set of sensor data from at least one of the plurality of devices;

determining, by one or more processors from the set of sensor data, that the at least one of the plurality of devices is damaged;

retrieving a replacement cost of the at least one of the plurality of devices, the replacement cost retrieved, via a short range communication, from a data tag associated with the at least one of the plurality of devices;

automatically generating, by the one or more processors, a proposed insurance claim for the insurance policy, the proposed insurance claim including the replacement cost of the at least one of the plurality of devices; and

communicating, to an electronic device associated with a customer having the insurance policy, the proposed insurance claim.

2. The computer-implemented method of claim 1, further comprising:

receiving, from the electronic device associated with the customer, an acceptance of the proposed insurance claim; and

facilitating a processing of the proposed insurance claim with an insurance provider.

3. The computer-implemented method of claim 1, further comprising:

communicating the proposed insurance claim to an insurance provider, wherein the insurance provider reconciles the replacement cost with additional replacement costs associated with additional devices similar to the at least one of the plurality of devices.

4. The computer-implemented method of claim 3, further comprising:

receiving, from the insurance provider, a set of modifications to the proposed insurance claim.

5. The computer-implemented method of claim 1, further comprising:

accessing additional replacement cost data associated with additional devices similar to the at least one of the plurality of devices;

comparing the replacement cost to the additional replacement cost data; and

modifying the replacement cost based upon the comparing.

6. The computer-implemented method of claim 1, further comprising:

receiving, from a third-party source, an updated replacement cost of the at least one of the plurality of devices; and

modifying the replacement cost according to the updated replacement cost.

7. The computer-implemented method of claim 1, wherein communicating the proposed insurance claim comprises:

communicating the proposed insurance claim to the electronic device associated with the customer via a second communication network.

8. The computer-implemented method of claim 1, wherein receiving the set of sensor data is responsive to:

detecting an insurance-related event.

9. A system for processing an insurance policy associated with a property, the property populated with a plurality of devices configured to monitor various conditions associated with the property, comprising:

a memory for storing non-transitory computer executable instructions;

a communication module for communicating data; and

a processor interfacing with the communication module, wherein the processor is configured to execute the non-transitory computer executable instructions to cause the processor to;

receive, via the communication module, a set of sensor data from at least one of the plurality of devices,

determine, from the set of sensor data, that the at least one of the plurality of devices is damaged,

retrieve, via the communication module, a replacement cost of the at least one of the plurality of devices, the replacement cost retrieved, via a short range communication, from a data tag associated with the at least one of the plurality of devices,

automatically generate a proposed insurance claim for the insurance policy, the proposed insurance claim including the replacement cost of the at least one of the plurality of devices, and

communicate, via the communication module to an electronic device associated with a customer having the insurance policy, the proposed insurance claim.

10. The system of claim 9, wherein the processor is further configured to:

receive, from the electronic device associated with the customer via the communication module, an acceptance of the proposed insurance claim, and

facilitate a processing of the proposed insurance claim with an insurance provider.

11. The system of claim 9, wherein the processor is further configured to:

communicate the proposed insurance claim to an insurance provider, wherein the insurance provider reconciles the replacement cost with additional replacement costs associated with additional devices similar to the at least one of the plurality of devices.

12. The system of claim 11, wherein the processor is further configured to:

receive, from the insurance provider, a set of modifications to the proposed insurance claim.

13. The system of claim 9, wherein the processor is further configured to:

access additional replacement cost data associated with additional devices similar to the at least one of the plurality of devices,

compare the replacement cost to the additional replacement cost data, and

modify the replacement cost based upon the comparing.

14. The system of claim 9, wherein the processor is further configured to:

receive, from a third-party source, an updated replacement cost of the at least one of the plurality of devices, and

modify the replacement cost according to the updated replacement cost.

15. The system of claim 9, wherein to communicate the proposed insurance claim, the processor is configured to:

communicate the proposed insurance claim to the electronic device associated with the customer via a second communication network.

16. A computer-implemented method of processing insurance claims for an insurance policy associated with a property, the property populated with a controller in communication with a plurality of devices in the property, each of the plurality of devices configured to monitor various conditions associated with the property, the method comprising:

receiving, via a first communication network, a set of sensor data associated with least one of the plurality of devices;

determining, by one or more processors from the set of sensor data, that the at least one of the plurality of devices is damaged;

retrieving a replacement cost of the at least one of the plurality of devices, the replacement cost retrieved, via a short range communication, from a data tag associated with the at least one of the plurality of devices;

automatically generating, by the one or more processors, a proposed insurance claim for the insurance policy, the proposed insurance claim including the replacement cost of the at least one of the plurality of devices; and

causing, by the one or more processors, the proposed insurance claim to be presented on a display of an electronic device for customer review.