Systems and methods for analyzing property telematics data to update risk-based coverage of a property
First Claim
1. A renter analytics computing device for analyzing property telematics data to update risk-based coverage of a property, the renter analytics computing device comprising a memory and a processor, wherein the processor is programmed to:
- retrieve insurance policy information associated with an insurance policy issued for the property, the insurance policy information including a baseline coverage rate;
store risk analysis rules in the memory, the risk analysis rules associating a level of risk to various rental parameters and identified renter behaviors;
retrieve a pre-rental record including parameters of a short-term rental of the property, the parameters including an anticipated number of renters, a start date, an end date, and an indicator of shared space;
retrieve property telematics data associated with a duration of time between the start date and the end date, wherein the property telematics data is generated by one or more property telematics devices associated with the property, the property telematics data including at least one of utility usage data from one or more utility usage sensors, wireless router data from a wireless router, light-based sensor data from one or more light-based sensors, appliance usage data from one or more appliance usage sensors, security system data from one or more components of a security system, and emergency alert data from one or more emergency sensors, the property telematics data indicative of actual usage of the property during the short-term rental;
develop a risk level profile associated with the short-term rental based upon the parameters of the short-term rental and the property telematics data, wherein developing the risk level profile comprises applying the risk analysis rules to at least one of the parameters of the short-term rental and the property telematics data, wherein the risk level profile is a metric representative of a level of risk of damage to the property associated with the short-term rental;
determine an adjusted coverage rate to cover the property for the duration of time based upon the risk level profile, the adjusted coverage rate independent of the baseline coverage rate;
transmit a coverage report including the adjusted coverage rate to a homeowner associated with the property for review and approval of the adjusted coverage rate;
determine, based upon processing the property telematics data, that an actual number of renters associated with the short-term rental differs from the anticipated number of renters identified in the parameters of the short-term rental;
update the risk level profile; and
increase the adjusted coverage rate based on the updated risk level profile.
1 Assignment
0 Petitions
Accused Products
Abstract
Systems and methods may analyze property telematics data, with homeowner permission or affirmative consent, to update risk-based coverage of a property, such as a house, during a short-term rental. The systems include a renter analytics computing device, a plurality of property telematics devices at the property, including at least one sensor, and a property telematics controller. The renter analytics computing device is configured to retrieve a pre-rental record including parameters of a short-term rental of the property, and retrieve property telematics data, from the property telematics devices, associated with the short-term rental. The renter analytics computing device may develop a risk level profile associated with the short-term rental and determine an adjusted coverage rate to cover the property during the short-term rental. As a result, a homeowner of the property may be protected against damages incurred to the property during the short-term rental.
25 Citations
17 Claims
-
1. A renter analytics computing device for analyzing property telematics data to update risk-based coverage of a property, the renter analytics computing device comprising a memory and a processor, wherein the processor is programmed to:
-
retrieve insurance policy information associated with an insurance policy issued for the property, the insurance policy information including a baseline coverage rate; store risk analysis rules in the memory, the risk analysis rules associating a level of risk to various rental parameters and identified renter behaviors; retrieve a pre-rental record including parameters of a short-term rental of the property, the parameters including an anticipated number of renters, a start date, an end date, and an indicator of shared space; retrieve property telematics data associated with a duration of time between the start date and the end date, wherein the property telematics data is generated by one or more property telematics devices associated with the property, the property telematics data including at least one of utility usage data from one or more utility usage sensors, wireless router data from a wireless router, light-based sensor data from one or more light-based sensors, appliance usage data from one or more appliance usage sensors, security system data from one or more components of a security system, and emergency alert data from one or more emergency sensors, the property telematics data indicative of actual usage of the property during the short-term rental; develop a risk level profile associated with the short-term rental based upon the parameters of the short-term rental and the property telematics data, wherein developing the risk level profile comprises applying the risk analysis rules to at least one of the parameters of the short-term rental and the property telematics data, wherein the risk level profile is a metric representative of a level of risk of damage to the property associated with the short-term rental; determine an adjusted coverage rate to cover the property for the duration of time based upon the risk level profile, the adjusted coverage rate independent of the baseline coverage rate; transmit a coverage report including the adjusted coverage rate to a homeowner associated with the property for review and approval of the adjusted coverage rate; determine, based upon processing the property telematics data, that an actual number of renters associated with the short-term rental differs from the anticipated number of renters identified in the parameters of the short-term rental; update the risk level profile; and increase the adjusted coverage rate based on the updated risk level profile. - View Dependent Claims (2, 3, 4, 5, 6, 7)
-
-
8. A computer-implemented method for analyzing property telematics data to update risk-based coverage of a property, the method implemented using a renter analytics computing device including a processor in communication with a memory, the method comprising:
-
retrieving insurance policy information associated with an insurance policy issued for the property, the insurance policy information including a baseline coverage rate; retrieving a pre-rental record including parameters of a short-term rental of the property, the parameters including an anticipated number of renters, a start date, an end date, and an indicator of shared space; retrieving property telematics data associated with a duration of time between the start date and the end date, wherein the property telematics data is generated by one or more property telematics devices associated with the property, the property telematics data including at least one of utility usage data from one or more utility usage sensors, wireless router data from a wireless router, light-based sensor data from one or more light-based sensors, appliance usage data from one or more appliance usage sensors, security system data from one or more components of a security system, and emergency alert data from one or more emergency sensors, the property telematics data indicative of actual usage of the property during the short-term rental; developing a risk level profile associated with the short-term rental based upon the parameters of the short-term rental and the property telematics data, wherein developing the risk level profile comprises applying the risk analysis rules to at least one of the parameters of the short-term rental and the property telematics data, wherein the risk level profile is a metric representative of a level of risk of damage to the property associated with the short-term rental; determining an adjusted coverage rate to cover the property for the duration of time based upon the risk level profile, the adjusted coverage rate independent of the baseline coverage rate; transmitting a coverage report including the adjusted coverage rate to a homeowner associated with the property for review and approval of the adjusted coverage rate; determining, based upon processing the property telematics data, that an actual number of renters associated with the short-term rental differs from the anticipated number of renters identified in the parameters of the short-term rental; updating the risk level profile; and increasing the adjusted coverage rate based on the updated risk level profile. - View Dependent Claims (9, 10, 11, 12, 13, 14)
-
-
15. At least one non-transitory computer-readable storage media having computer-executable instructions embodied thereon, wherein, when executed by one or more processors of a renter analytics computing device, the computer-executable instructions cause the one or more processors to:
-
retrieve insurance policy information associated with an insurance policy issued for the property, the insurance policy information including a baseline coverage rate; retrieve a pre-rental record including parameters of a short-term rental of the property, the parameters including an anticipated number of renters, a start date, an end date, and an indicator of shared space; retrieve property telematics data associated with a duration of time between the start date and the end date, wherein the property telematics data is generated by one or more property telematics devices associated with the property, the property telematics data including at least one of utility usage data from one or more utility usage sensors, wireless router data from a wireless router, light-based sensor data from one or more light-based sensors, appliance usage data from one or more appliance usage sensors, security system data from one or more components of a security system, and emergency alert data from one or more emergency sensors, the property telematics data indicative of actual usage of the property during the short-term rental; develop a risk level profile associated with the short-term rental based upon the parameters of the short-term rental and the property telematics data, wherein developing the risk level profile comprises applying the risk analysis rules to at least one of the parameters of the short-term rental and the property telematics data, wherein the risk level profile is a metric representative of a level of risk of damage to the property associated with the short-term rental; determine an adjusted coverage rate to cover the property for the duration of time based upon the risk level profile, the adjusted coverage rate independent of the baseline coverage rate; transmit a coverage report including the adjusted coverage rate to a homeowner associated with the property for review and approval of the adjusted coverage rate; determine, based upon processing the property telematics data, that an actual number of renters associated with the short-term rental differs from the anticipated number of renters identified in the parameters of the short-term rental; update the risk level profile; and increase the adjusted coverage rate based on the updated risk level profile. - View Dependent Claims (16, 17)
-
Specification