Risk Unit Based Policies

• US 20160239925A1
• Filed: 04/26/2016
• Published: 08/18/2016
• Est. Priority Date: 01/28/2015
• Status: Active Grant

• Current Assignee: Arity International Limited (Allstate Corporation)
• Original Assignee: Allstate Insurance Company (Allstate Corporation)
• Inventors: Biemer, Edward A., Irey, Grady, Styrsky, Caryl M.
• Granted Patent: US 10,719,880 B2
• Time in Patent Office: Days
• US Class Current: 1/1
• CPC Class Codes: G06Q 10/0635 Risk analysis of enterprise or organisation activities
• CPC Class Codes: G06Q 40/08 Insurance

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.

Claims

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.

2. The risk unit based system of claim 1, wherein the consumption rate is determined based on real-time driving data.

3. The risk unit based system of claim 1, wherein the predefined period of time is one of:

one week, one day, and one month.

4. The risk unit based system of claim 1, wherein a cost to the user is associated with each risk unit and wherein the cost to the user is determined based on a fixed date.

5. The risk unit based system of claim 1, further including instructions that, when executed, cause the insurance system server to:

determine whether a number of risk units in the risk unit account is below a predetermined threshold; and

responsive to determining that the number of risk units is below the predetermined threshold, provide at least one refill option to the user.

6. The risk unit based system of claim 5, wherein the at least one refill option is provided to the user via a mobile device of the user.

7. The risk unit based system of claim 5, further including instructions that, when executed, cause the insurance system server to:

provide a notification to the user including a number of risk units in the risk unit account.

8. A risk unit based system, comprising:

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; and

display the at least one recommended modification to the user.

9. The risk unit based system of claim 8, wherein the at least one recommended modification is displayed to the user via a vehicle display of the on-board vehicle computing device.

10. The risk unit based system of claim 8, wherein the at least one recommended modification is displayed to the user via a mobile device of the user.

11. The risk unit based insurance system of claim 8, wherein the driving behavior of the user includes at least one of:

speed, braking time, braking distance, and distance between vehicles.

12. The risk unit based system of claim 8, wherein the environment in which the vehicle is being operated includes at least one of:

type of road, time of day, traffic volume, and weather conditions.

13. The risk unit based system of claim 8, wherein the consumption rate of the risk units is determined based on real-time driving data.

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:

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.

15. The one or more non-transitory computer-readable media of claim 14, wherein the consumption rate is determined based on real-time driving data.

16. The one or more non-transitory computer-readable media of claim 14, wherein the predefined period of time is one of:

one week, one day, and one month.

17. The one or more non-transitory computer-readable media of claim 14, wherein a cost to the user is associated with each risk unit and wherein the cost to the user is determined based on a fixed date.

18. The one or more non-transitory computer-readable media of claim 14, further including instructions that, when executed, cause the computing device to:

determine whether a number of risk units in the risk unit account is below a predetermined threshold; and

responsive to determining that the number of risk units is below the predetermined threshold, provide at least one refill option to the user.

19. The one or more non-transitory computer-readable media of claim 18, wherein the at least one refill option is provided to the user via a mobile device of the user.

20. The one or more non-transitory computer-readable media of claim 18, further including instructions that, when executed, cause the computing device to:

provide a notification to the user including a number of risk units in the risk unit account.