SYSTEMS AND METHODS FOR GENERATING VEHICLE INSURANCE PREMIUM QUOTES BASED ON A VEHICLE HISTORY
First Claim
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1. A method for generating an insurance premium quote for a consumer seeking insurance coverage for a vehicle using a computer, comprising:
- determining at the computer a vehicle history score indicative of a likelihood of a future auto insurance claim for the vehicle, wherein the vehicle score is based on both VIN based data and historical data of the vehicle;
determining at the computer an insurance score for the consumer, based on at least one of a credit score, a driving record and a claim record; and
generating at the computer the insurance premium quote based on the determined vehicle score and the insurance score.
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Abstract
A method is provided for generating an insurance premium quote for a consumer seeking insurance coverage for a vehicle. The method determines a vehicle score indicative of a likelihood of a future auto insurance claim for the vehicle, wherein the vehicle score is based on both VIN based data and historical data of the vehicle. The method determines an insurance score for the consumer, based on at least one of a credit score, a driving record and a claim record. The method further generates the insurance premium quote based on the determined vehicle score and the insurance score.
200 Citations
21 Claims
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1. A method for generating an insurance premium quote for a consumer seeking insurance coverage for a vehicle using a computer, comprising:
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determining at the computer a vehicle history score indicative of a likelihood of a future auto insurance claim for the vehicle, wherein the vehicle score is based on both VIN based data and historical data of the vehicle; determining at the computer an insurance score for the consumer, based on at least one of a credit score, a driving record and a claim record; and generating at the computer the insurance premium quote based on the determined vehicle score and the insurance score. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10)
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11. A non-transitory computer readable medium comprising:
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a first code segment configured to determine a vehicle history score indicative of a likelihood of a future auto insurance claim for a vehicle, wherein the vehicle score is based on both VIN based data and historical data of the vehicle; a second code segment configured to determine an insurance score for the vehicle'"'"'s owner, based on at least one of a credit score, a driving record and a claim record; and a third code segment configured to generate an insurance premium quote for the owner based on the determined vehicle score and the insurance score. - View Dependent Claims (12, 13, 14, 15, 16, 17, 18, 19, 20)
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21. A system for generating an insurance premium quote for a consumer seeking insurance coverage for a vehicle, comprising:
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a processor; and a memory configured to receive data from at least one remote source; wherein the memory is configured to determine a vehicle history score indicative of a likelihood of a future auto insurance claim for the vehicle, based on both VIN based data and historical data of the vehicle; determine an insurance score for the consumer, based on at least one of a credit score, a driving record and a claim record; and generate the insurance premium quote based on the determined vehicle score and the insurance score.
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Specification