Asset management system

• US 20070150317A1
• Filed: 12/23/2005
• Published: 06/28/2007
• Est. Priority Date: 12/23/2005
• Status: Abandoned Application

• Current Assignee: Caterpillar Incorporated
• Original Assignee: Caterpillar Incorporated
• Inventors: Dawson, Jay
• Application Number:
  US11/315,355
• Publication Number:
  US 20070150317A1
• Time in Patent Office: Days
• US Class Current: 705/4
• CPC Class Codes: G06Q 30/012 Providing warranty services
• CPC Class Codes: G06Q 40/06 Asset management; Financial planning or analysis

Abstract

An asset management system is provided. The system may include one or more data collection devices configured to monitor one or more operating conditions of a machine in real time. The system may also include a processor configured to receive data from the one or more data collection devices and compare the received data to a set of usage terms of an insurance policy relating to the machine. The system may be configured to communicate, in real time, to at least one of an owner and an operator, information regarding the insurance coverage of the machine or its components under the insurance policy. The communication of information may be based on the comparison of the received data to the set of usage terms of the insurance policy.

Claims

1. An asset management system, comprising:

one or more data collection devices configured to monitor one or more operating conditions of a machine in real time; and

a processor configured to;

receive data from the one or more data collection devices;

compare the received data to a set of usage terms of an insurance policy relating to the machine;

wherein the system is configured to communicate, in real time, to at least one of an owner and an operator, information regarding the insurance coverage of the machine or its components under the insurance policy based on the comparison of the received data to the set of usage terms of the insurance policy.

2. The system of claim 1, wherein the one or more operating conditions includes operating parameters of the machine.

3. The system of claim 1, wherein the one or more operating conditions includes at least two of the following:

operating parameters of the machine;

geographic parameters; and

atmospheric conditions.

4. The system of claim 1, wherein the system is configured to offload the data from the machine and make the data available for consideration by one or more entities.

5. The system of claim 4, wherein the system is configured to automatically make the data available to at least one entity other than an owner of the machine.

6. The system of claim 5, wherein the at least one entity includes an insurer of the machine.

7. The system of claim 1, wherein the information regarding the insurance policy of the machine or its components includes recommendations for at least one of the following:

one or more operating parameters; and

one or more operating techniques.

8. The system of claim 1, wherein the information regarding the insurance policy of the machine or its components includes an offer of an opportunity to modify the set of usage terms of the insurance policy.

9. The system of claim 1, wherein the system is configured to automatically change one or more of the usage terms of the insurance policy.

10. The system of claim 9, wherein the communicated information includes a notification of the change in the one or more usage terms of the insurance policy.

11. A method of asset management, comprising:

monitoring one or more operating conditions of a machine in real time;

collecting data for the one or more operating conditions;

comparing the collected data to a set of usage terms of an insurance policy relating to the machine; and

communicating, in real time, to at least one of an owner and an operator, information regarding the insurance coverage of the machine or its components under the insurance policy based on the comparison of the collected data to the set of usage terms of the insurance policy.

12. The method of claim 11, wherein the one or more operating conditions includes operating parameters of the machine.

13. The method of claim 11, wherein the one or more operating conditions includes at least two of the following:

operating parameters of the machine;

geographic parameters; and

atmospheric conditions.

14. The method of claim 11, further including offloading the data from the machine and making the data available for consideration by one or more entities.

15. The method of claim 11, automatically making the data available to at least one entity other than an owner of the machine.

16. The method of claim 15, wherein the at least one entity includes an insurer of the machine.

17. The method of claim 16, further including recommending, to at least one of an owner and an operator of the machine, at least one of the following:

one or more operating parameters; and

one or more operating techniques.

18. The method of claim 11, wherein communicating information includes offering, to at least one of an owner and an operator, an opportunity to change the set of terms of the insurance policy.

19. The method of claim 11, further including automatically changing one or more of the usage terms of the insurance policy.

20. The method of claim 19, wherein the communicated information includes a notification of the change in the one or more usage terms of the insurance policy.

21. A machine, comprising:

a frame; and

a power source mounted to the frame;

wherein the machine is integrated with an asset management system including;

one or more data collection devices configured to monitor one or more operating conditions of the machine in real time; and

a processor configured to;

receive data from the one or more data collection devices;

compare the received data to a set of usage terms of an insurance policy relating to the machine; and

wherein the system is configured to communicate, in real time, to at least one of an owner and an operator, information regarding the insurance coverage of the machine or its components under the insurance policy, based on the comparison of the received data to the set of usage terms of the insurance policy.

22. The machine of claim 21, wherein the one or more operating conditions includes operating parameters of the machine.

23. The machine of claim 21, wherein the one or more operating conditions includes at least two of the following:

operating parameters of the machine;

geographic parameters; and

atmospheric conditions.

24. The machine of claim 21, wherein the system is configured to automatically make the data available to at least one entity other than an owner of the machine.

25. The machine of claim 21, wherein the system is configured to offload the data from the machine and make the data available for consideration by one or more entities.

26. The machine of claim 21, wherein the system is configured to automatically make the data available to at least one entity other than an owner of the machine.

27. The machine of claim 26, wherein the at least one entity includes an insurer of the machine.

28. The machine of claim 21, wherein the information regarding the insurance coverage of the machine or its components includes recommendations for at least one of the following:

one or more operating parameters; and

one or more operating techniques.

29. The machine of claim 21, wherein the information regarding the insurance coverage of the machine or its components includes an offer of an opportunity to modify the set of usage terms of the insurance policy.

30. The machine of claim 21, wherein the system is configured to automatically change one or more of the usage terms of the insurance policy.

31. The machine of claim 30, wherein the communicated information includes a notification of the change in the one or more usage terms of the insurance policy.