Risk Unit Based Policies
First Claim
1. A risk unit based system, comprising:
- an insurance system server including one or more processors, and at least one memory storing computer-readable instructions that, when executed by the one or more processors, cause the insurance system server to;
determine, based on historical data, a risk unit, the risk unit representing a cost to insure an average user for a predetermined period of time;
provide, to a least a first user, a predefined number of risk units in association with an insurance policy for a vehicle of the first user, the predefined number of risk units being stored in a risk unit account associated with the first user;
receive, in real-time and from at least one sensor arranged on the vehicle, driving data associated with at least one of;
the first user, and an environment in which the vehicle is being operated;
analyze, in real-time, the received driving data to determine a consumption rate of the risk units; and
reduce a number of risk units in the risk unit account associated with the first user based on operation of the vehicle, wherein a rate at which the number of risk units is reduced is the determined consumption rate.
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Accused Products
Abstract
Methods, computer-readable media, systems and apparatuses for implementing risk unit based insurance policies are presented. A user may receive a plurality of risk units associated with an insurance policy. The risk units may be stored in a risk unit account associated with the user, the vehicle, etc. During operation of the vehicle, sensor data may be received. The sensor data may provide information associated with driving behaviors of the user, environmental conditions in which the vehicle is being operated, and the like. A consumption rate of the risk units may be determined based, at least in part, on the received sensor data. In some examples, the consumption rate may be displayed to the user, such as via a mobile device of the user or a vehicle display. Further, in some arrangements, one or more driving modifications to reduce a consumption rate may be determined and provided to the user.
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Citations
20 Claims
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1. A risk unit based system, comprising:
an insurance system server including one or more processors, and at least one memory storing computer-readable instructions that, when executed by the one or more processors, cause the insurance system server to; determine, based on historical data, a risk unit, the risk unit representing a cost to insure an average user for a predetermined period of time; provide, to a least a first user, a predefined number of risk units in association with an insurance policy for a vehicle of the first user, the predefined number of risk units being stored in a risk unit account associated with the first user; receive, in real-time and from at least one sensor arranged on the vehicle, driving data associated with at least one of;
the first user, and an environment in which the vehicle is being operated;analyze, in real-time, the received driving data to determine a consumption rate of the risk units; and reduce a number of risk units in the risk unit account associated with the first user based on operation of the vehicle, wherein a rate at which the number of risk units is reduced is the determined consumption rate. - View Dependent Claims (2, 3, 4, 5, 6, 7)
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8. A risk unit based system, comprising:
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an insurance system server having at least one processor and at least one memory storing computer-readable instructions that, when executed by the at least one processor, cause the insurance system server to; receive, from a user, a request to obtain a risk unit based insurance policy for a vehicle; generate the risk unit based insurance policy for the vehicle responsive to the received request; and deposit a predetermined number of risk units into a risk unit account associated with the risk unit based insurance policy, each risk unit representing a cost to insure an average user for a predetermined period of time; an on-board vehicle computing device including at least one processor, and at least one memory storing computer-readable instructions that, when executed by the at least one processor, cause the on-board vehicle computing device to; receive, in real-time and from at least one sensor arranged on the vehicle, driving data associated with at least one of;
the user and an environment in which the vehicle is being operated;analyze, in real-time, the received driving data to determine a consumption rate of the risk units; determine at least one recommended modification to at least one of;
a driving behavior of the user and the environment in which the vehicle is being operated; anddisplay the at least one recommended modification to the user. - View Dependent Claims (9, 10, 11, 12, 13)
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14. One or more non-transitory computer-readable media storing computer-executable instructions that, when executed by a processor, cause at least one computing device to:
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determine, based on historical data, a risk unit, the risk unit representing a cost to insure an average user for a predetermined period of time; provide, to a least a first user, a predefined number of risk units in association with an insurance policy for a vehicle of the first user, the predefined number of risk units being stored in a risk unit account associated with the first user; receive, in real-time and from at least one sensor arranged on the vehicle, driving data associated with at least one of;
the first user, and an environment in which the vehicle is being operated;analyze, in real-time, the received driving data to determine a consumption rate of the risk units; and reduce a number of risk units in the risk unit account associated with the first user based on operation of the vehicle, wherein a rate at which the number of risk units is reduced is the determined consumption rate. - View Dependent Claims (15, 16, 17, 18, 19, 20)
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Specification