INSURANCE VERTICAL MARKET SPECIALIZATION
First Claim
1. A system that collects data regarding automobile usage for receiving insurance quotes related to the automobile, comprising:
- a policy specification component that obtains one or more parameters related to a route of an automobile and provides the one or more parameters to a market definition component;
a rate receiving component that receives rate and policy information from the market definition component based at least in part on the one or more parameters; and
a user interface component that renders the rate and policy information.
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Accused Products
Abstract
Vertical insurance market specialization is provided where policies can be created based on granular information related to actual usage of an object. The information can be received in real time or near real time, and specific market definitions can be created based on the information. Insurance companies can bid on specific market definitions, and an owner of the object can select coverage. In cases of automobile insurance, route information or other sensed parameters (such as driving behavior) can be provided to define an insurance market for a specific driver. Allowing companies to bid on the specific instances allows for increased competition and lower cost than current blanket solutions.
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Citations
20 Claims
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1. A system that collects data regarding automobile usage for receiving insurance quotes related to the automobile, comprising:
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a policy specification component that obtains one or more parameters related to a route of an automobile and provides the one or more parameters to a market definition component; a rate receiving component that receives rate and policy information from the market definition component based at least in part on the one or more parameters; and a user interface component that renders the rate and policy information. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9)
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10. A method that facilitates providing sensed information regarding use of an object for vertical insurance market specialization, comprising:
employing a processor to execute computer executable instructions stored in memory to perform the following acts; automatically sensing one or more usage parameters of an object; providing the one or more usage parameters to a market definition component along with one or more additional parameters regarding a user to whom the one or more usage parameters relate; and receiving one or more insurance policies and corresponding rates from the market definition component based on the usage and additional parameters. - View Dependent Claims (11, 12, 13, 14, 15, 16, 17)
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18. A system that receives insurance policies related to an automobile, comprising:
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means for that receiving one or more parameters related to a route of an automobile and providing the one or more parameters to a market definition component; means for obtaining rate and policy information based at least in part on the one or more parameters; and means for rendering the rate and policy information. - View Dependent Claims (19, 20)
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Specification