INSURANCE VISIBILITY

• US 20100131305A1
• Filed: 11/05/2009
• Published: 05/27/2010
• Est. Priority Date: 11/26/2008
• Status: Active Grant

• Current Assignee: Great Lakes Incubator, LLC, RCK-IP, LLC
• Original Assignee: Great Lakes Incubator, LLC
• Inventors: Takieh, Seyed Vahid Sharifi, Turocy, Gregory, Asquith, Brian, Amin, Himanshu S., Krosky, Ronald Charles, Collopy, Fred, Nard, Craig Allen, Narvaez, Gustavo Arnaldo, Noonan, David
• Granted Patent: US 8,620,692 B2
• Time in Patent Office: Days
• US Class Current: 705/4
• CPC Class Codes: G06Q 30/0201 Market modelling; Market analysis; Collecting market data
• CPC Class Codes: G06Q 30/0224 based on user history
• CPC Class Codes: G06Q 30/0251 Targeted advertisements
• CPC Class Codes: G06Q 30/0265 Vehicular advertisement
• CPC Class Codes: G06Q 30/0269 based on user profile or attribute
• CPC Class Codes: G06Q 30/0273 Determination of fees for advertising
• CPC Class Codes: G06Q 30/04 Billing or invoicing
• CPC Class Codes: G06Q 30/06 Buying, selling or leasing transactions
• CPC Class Codes: G06Q 40/08 Insurance

Abstract

Dynamic insurance rate adjustments are communicated to a vehicle operator in order to allow the vehicle operator to adjust various parameters before an actual change to an insurance rate is communicated to a service provider or trusted third party. The various parameters can be external parameters and/or internal parameters and further can include historical information, current information, and/or predicted information. Communicating the insurance rate adjustments provides for insurance visibility for both the operator and passengers of the vehicle. The insurance rate adjustment is communicated though a device located within a vehicle to enable perception by a vehicle occupant.

Claims

1. A system for enabling visibility of insurance, comprising:

a monitoring component that gathers one or more parameters related to a vehicle;

an adjustment component that selectively modifies a base rate of insurance to produce a surcharge or a discount as a function of the one or more parameters; and

a render component that dynamically outputs the surcharge or the discount to an operator of the vehicle while the vehicle is in operation.

2. The system of claim 1, the one or more parameters are a driving behavior, operating conditions, an environment, or combinations thereof.

3. The system of claim 1, the render component outputs a visual representation of the surcharge or the discount.

4. The system of claim 1, the render component includes a color element that varies in color across a spectrum to represent the surcharge or the discount.

5. The system of claim 1, further comprising an interface component that engages the operator in an interchange related to the surcharge, the discount, the one or more parameters, or combinations thereof.

6. The system of claim 1, wherein the adjustment component produces the discount if the one or more parameters tend to decrease an amount of insurance claims or produces the surcharge if the one or more parameters tend to increase the amount of insurance claims.

7. The system of claim 1, wherein the render component is located within the vehicle to enable perception by a vehicle occupant.

8. The system of claim 1, wherein the adjustment component selectively produces the discount or the surcharge in real-time.

9. The system of claim 1, wherein the one or more parameters include a frequency portion, an intensity portion, or combinations thereof.

10. The system of claim 1, further comprising a notification component that conveys information related to the one or more parameters, the discount, the surcharge, or combinations thereof, to a service provider or a trusted third party, wherein the information is conveyed to the service provider or the trusted third party less often than the render component dynamically outputs the surcharge or the discount to the operator of the vehicle.

11. A method that facilitates providing visibility of a cost of insurance, comprising:

gathering one or more parameters related to a vehicle covered by an insurance policy;

selectively creating a modified cost of the insurance policy as a function of the one or more parameters; and

presenting the modified cost of the insurance policy to an operator of the vehicle.

12. The method of claim 11, wherein selectively modifying the cost of the insurance policy comprises applying a discount if the one or more parameters decreases a number of insurance claims or applying a surcharge if the one or more parameters increases the number of insurance claims.

13. The method of claim 11, further comprising:

prompting the operator of the vehicle for information related to the modified cost of the insurance policy, the one or more parameters, or combinations thereof,

receiving a response from the operator of the vehicle; and

utilizing the response to further modify the cost of the insurance policy.

14. The method of claim 13, further comprising:

notifying an insurance provider or a trusted third party of the modified cost of the insurance policy, the one or more parameters, the response from the operator of the vehicle, or combinations thereof.

15. The method of claim 11, wherein gathering the one or more parameters comprises gathering historical information, current information, predicted information, or combinations thereof.

16. The method of claim 11, wherein selectively modifying the cost of the insurance policy based on the one or more parameters comprises modifying the cost of the insurance policy in real time, the method further comprising:

monitoring the one or more parameters, or additional parameters, over time; and

providing a further modification to the cost of the insurance policy based on the monitoring over time.

17. The method of claim 11, wherein presenting the modified cost of the insurance policy to the operator of the vehicle comprises displaying the modified cost of the insurance policy in a dashboard-mounted display.

18. A system that provides insurance visibility, comprising:

means for obtaining one or more parameters associated with an insured vehicle;

means for utilizing the one or more parameters to generate a modified insurance cost of the insured vehicle; and

means for outputting the modified insurance cost, a comparison between an original insurance cost and the modified insurance cost, and the one or more parameters to an operator of the insured vehicle while the insured vehicle is in operation.

19. The system of claim 18, further comprising:

means for engaging the operator of the insured vehicle in a dialogue associated with the modified insurance cost, wherein, based on the dialogue the means for utilizing the one or more parameters to generate the modified insurance cost applies a further modification to the modified insurance cost.

20. The system of claim 18, wherein the means for utilizing the one or more parameters to generate the modified insurance cost increases a base rate or decreases the base rate as a function of whether the one or more parameters tend to increase or decrease an amount of insurance claims.