Electronic device utilizing a risk reduction mechanism to manage property
First Claim
1. A system for providing a notification based on a degradation condition, comprising:
- a processing device; and
a memory device in communication with the processing device, the memory device storing instructions that when executed by the processing device result in;
receiving, by the processing device, a first input corresponding to an asset of a user from an electronic device associated with the asset and in communication with the processing device, the first input comprising a first set of sensor data received from one or more sensors associated with the asset;
deriving, by the processing device, as a second input, a benchmark from system data stored on a database communicatively coupled to the processing device, wherein the system data comprises;
policy data itemizing insurance policy information; and
a second set of sensor data detected by a plurality of sensors monitoring a plurality of insured assets associated with the policy data, wherein the insured assets are of a same asset type as the asset;
calculating, by the processing device, a difference between the first input and the second input, wherein a difference exceeding a predetermined amount indicates existence of the degradation condition, in which substantial damage to or failure of the asset or a component of the asset is imminent; and
outputting, by the processing device, the notification in response to the indication of the existence of the degradation condition, the notification prompting an action to prevent the substantial damage to or the failure of the asset or the component of the asset, wherein the outputting of the notification comprises sending the notification to a user device at a time prior to the substantial damage to or the failure of the asset or the component of the asset occurring, and the user device comprises a user interface having one or more icons wherein at least one of the icons when activated by the user is configured to image the asset to verify a condition of the asset.
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Accused Products
Abstract
A system for risk reduction is provided. The system includes a processing device and a memory device. The memory device stores instructions that when executed by the processing device may result in receiving a first input corresponding to an asset of a user and deriving as a second input a benchmark from system data stored on a database. The instructions that when executed by the processing device may further result in calculating a difference between the first input and the second input, wherein a difference exceeding a predetermined amount indicates existence of the degradation condition, in which substantial damage to or failure of the asset or a component of the asset is imminent.
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Citations
19 Claims
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1. A system for providing a notification based on a degradation condition, comprising:
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a processing device; and a memory device in communication with the processing device, the memory device storing instructions that when executed by the processing device result in; receiving, by the processing device, a first input corresponding to an asset of a user from an electronic device associated with the asset and in communication with the processing device, the first input comprising a first set of sensor data received from one or more sensors associated with the asset; deriving, by the processing device, as a second input, a benchmark from system data stored on a database communicatively coupled to the processing device, wherein the system data comprises; policy data itemizing insurance policy information; and a second set of sensor data detected by a plurality of sensors monitoring a plurality of insured assets associated with the policy data, wherein the insured assets are of a same asset type as the asset; calculating, by the processing device, a difference between the first input and the second input, wherein a difference exceeding a predetermined amount indicates existence of the degradation condition, in which substantial damage to or failure of the asset or a component of the asset is imminent; and outputting, by the processing device, the notification in response to the indication of the existence of the degradation condition, the notification prompting an action to prevent the substantial damage to or the failure of the asset or the component of the asset, wherein the outputting of the notification comprises sending the notification to a user device at a time prior to the substantial damage to or the failure of the asset or the component of the asset occurring, and the user device comprises a user interface having one or more icons wherein at least one of the icons when activated by the user is configured to image the asset to verify a condition of the asset. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14)
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15. A computer program product comprising a non-transitory storage medium embodied with computer program instructions that when executed by a processing device cause the processing device to implement:
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receiving, by the processing device, a first input corresponding to an asset of a user from an electronic device associated with the asset and in communication with the processing device, the first input comprising a first set of sensor data received from one or more sensors associated with the asset; deriving, by the processing device, as a second input, a benchmark from system data stored on a database communicatively coupled to the processing device, wherein the system data comprises; policy data itemizing insurance policy information; and a second set of sensor data detected by a plurality of sensors monitoring a plurality of insured assets associated with the policy data, wherein the insured assets are of a same asset type as the asset; calculating, by the processing device, a difference between the first input and the second input, wherein a difference exceeding a predetermined amount indicates existence of the degradation condition, in which substantial damage to or failure of the asset or a component of the asset is imminent; and outputting, by the processing device, the notification in response to the indication of the existence of the degradation condition, the notification prompting an action to prevent the substantial damage to or the failure of the asset or the component of the asset, wherein the outputting of the notification comprises sending the notification to a user device at a time prior to the substantial damage to or the failure of the asset or the component of the asset occurring, and the user device comprises a user interface having one or more icons wherein at least one of the icons when activated by the user is configured to image the asset to verify a condition of the asset. - View Dependent Claims (16, 17, 18, 19)
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Specification