GPS mobil equipment insurance method, apparatus, and product
First Claim
1. A GPS Mobil Equipment Insurance Method comprising:
- a. inputting into a computer a database of GPS equipment data losses, b. inputting a software program into the computer to actuarially compute a rate reduction for GPS mobile equipment all risk insurance coverage, b. installing GPS systems on mobile equipment to be insured, c. testing the GPS systems for operability by transmission via satellite to a GPS manufacturer'"'"'s central control facility, d. issuing a new reduced premium all risk insurance policy or reducing the premium of an existing insurance policy to the owner of mobile equipment installed with GPS systems.
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Accused Products
Abstract
A GPS Mobil Equipment Insurance Method, Apparatus and Insurance Product for mobile equipment adapted with GPS systems comprising: inputting into a computer processor a database of mobile equipment adapted with GPS systems from all GPS manufacturers within a geographical area, including data containing, but not limited to the name of the owner, the mailing address, type, year, and brand of equipment, and any equipment identification number; tracking the status of said equipment, and computer processing the database of mobile equipment to generate a discounted rate and providing an all risk insurance policy covering the GPS manufacturer and owner of mobile equipment adapted with GPS systems.
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Citations
20 Claims
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1. A GPS Mobil Equipment Insurance Method comprising:
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a. inputting into a computer a database of GPS equipment data losses, b. inputting a software program into the computer to actuarially compute a rate reduction for GPS mobile equipment all risk insurance coverage, b. installing GPS systems on mobile equipment to be insured, c. testing the GPS systems for operability by transmission via satellite to a GPS manufacturer'"'"'s central control facility, d. issuing a new reduced premium all risk insurance policy or reducing the premium of an existing insurance policy to the owner of mobile equipment installed with GPS systems. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 20)
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11. A GPS Mobile Equipment Insurance Apparatus for providing GPS mobile equipment with discounted all risk insurance coverage comprising:
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a. a plurality of GPS transmitters installed in designated vehicles, b. an orbital satellite GPS receiving and relay system in communication with the GPS transmitters, c. a GPS manufacturer'"'"'s equipment control center with receivers, which receive the status of the mobile equipment transmissions, and transmitters to transmit electronic information regarding the location, type of mobile equipment unit, and condition of the same, d. an insurance control center with corresponding receptors and transmitters to receive the GPS electronic information from the manufacturer'"'"'s equipment control center, e. a database in the insurance control center of the location, type of mobile equipment unit and condition of the same, f. a computer in the insurance control center into which the database is entered, and g. an actuarial program entered into the computer to generate a discount insurance rate for all risk insurance covering the GPS mobile equipment, which is then transmitted via the computer transmitter to send an all risk mobile equipment discount rate for an insurance policy covering both the GPS system operator and owner to the GPS control center. - View Dependent Claims (12, 13, 14, 15, 16, 17, 18, 19)
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Specification