System of charging for automobile insurance
First Claim
1. A computer-implemented method of calculating automobile insurance for a vehicle of a customer of a contracting company, the computer-implemented method comprising:
- acquiring location information of the vehicle with a location system on the vehicle;
acquiring vehicle performance information from a computation device on a vehicle;
deriving a first cost increment with said computation device by evaluating at least said location information, said vehicle performance information and a pricing database, wherein said deriving of said first cost increment is performed on the vehicle;
connecting a billing transmission system on the vehicle with the contracting company;
transmitting said first cost increment with said billing transmission system to the contracting company, wherein said first cost increment is devoid of said location information and said vehicle performance information;
restricting access to said location information and said vehicle performance information with said billing transmission system by at least encrypting said information and said vehicle performance information;
accessing said location information and said vehicle performance information with said billing transmission system by at least decrypting said location information and said vehicle performance information with an access key, wherein said access key consists of a first passkey retained by the customer and a second passkey retained by a contracting company;
providing access with a computing device for the customer outside of the vehicle to said first cost increment prior to the contracting company billing the customer, wherein said providing access to said first cost increment is adapted to permit the customer to alter driving habits to adjust a second cost incrementtransmitting said second cost increment with said billing transmission system to the contracting company, wherein said second cost increment is devoid of location information and said vehicle performance information; and
determining billing for the customer from the contracting company based on at least said first and said second cost increments from said billing transmission system.
1 Assignment
0 Petitions
Accused Products
Abstract
A method and apparatus for determining an incremental cost of insurance for the operation of a motor vehicle and billing the same to an operator of the vehicle. The system uses an internal system for determining one or more operational factors associated with the vehicle, such as its geographic location, speed, acceleration, etc, in at least near real time, and recording the information in a database. From this information incremental insurance cost information is determined relating to the cost of insuring the vehicle for a predetermined time during, for example one day. The insurance cost information is transmitted to a contracting company, which may comprise an underwriting company responsible for providing the insurance coverage for the vehicle. The invention makes it possible for an operator to better gauge how driving habits and/or usage of the vehicle affect the cost of the insurance, as well as providing insurance companies with near real time information from which even more accurate determinations of risk can be made, and insurance costs to the operator adjusted accordingly.
59 Citations
19 Claims
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1. A computer-implemented method of calculating automobile insurance for a vehicle of a customer of a contracting company, the computer-implemented method comprising:
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acquiring location information of the vehicle with a location system on the vehicle; acquiring vehicle performance information from a computation device on a vehicle; deriving a first cost increment with said computation device by evaluating at least said location information, said vehicle performance information and a pricing database, wherein said deriving of said first cost increment is performed on the vehicle; connecting a billing transmission system on the vehicle with the contracting company; transmitting said first cost increment with said billing transmission system to the contracting company, wherein said first cost increment is devoid of said location information and said vehicle performance information; restricting access to said location information and said vehicle performance information with said billing transmission system by at least encrypting said information and said vehicle performance information; accessing said location information and said vehicle performance information with said billing transmission system by at least decrypting said location information and said vehicle performance information with an access key, wherein said access key consists of a first passkey retained by the customer and a second passkey retained by a contracting company; providing access with a computing device for the customer outside of the vehicle to said first cost increment prior to the contracting company billing the customer, wherein said providing access to said first cost increment is adapted to permit the customer to alter driving habits to adjust a second cost increment transmitting said second cost increment with said billing transmission system to the contracting company, wherein said second cost increment is devoid of location information and said vehicle performance information; and determining billing for the customer from the contracting company based on at least said first and said second cost increments from said billing transmission system. - View Dependent Claims (2, 3, 4, 5, 6, 7)
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8. A vehicle insurance computation apparatus that is installed in a vehicle and communicates with a contracting company that is remote to the vehicle and provides billing to a customer, the vehicle insurance computation apparatus comprising:
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a computation device that acquires location information of the vehicle, acquires vehicle performance information from the vehicle and derives a first cost increment by evaluating at least said location information, said performance information and a pricing database; and a transmitting device that sends said first cost increment to the contracting company, wherein said first cost increment is devoid of said location information and said vehicle performance information, wherein access to said performance information and said location information of the vehicle is restricted by at least encrypting said location information and said vehicle performance information, wherein access is granted by at least decrypting said location information and said vehicle performance information with an access key, wherein said access key consists of a first passkey retained by the customer and a second passkey retained by the contracting company, wherein said computation device is configured to provide access for the customer outside of the vehicle to said first cost increment prior to the billing of the customer by contracting company, wherein said access for the customer outside of the vehicle to said first cost increment is adapted to permit the customer to alter driving habits to adjust a second cost increment; wherein said transmitting device sends said second cost increment to the contracting company, wherein said second cost increment is devoid of said location information and said vehicle performance information, and wherein said sending of said second cost increment to the contracting company permits the contracting company to prepare the billing for the customer based on at least said first and said second cost increments. - View Dependent Claims (9, 10, 11, 12, 13, 14)
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15. A computer-implemented method of determining a cost of insuring a motor vehicle, comprising:
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using a monitoring apparatus located on-board the motor vehicle to at least assist in monitoring an operational factor associated with the vehicle in real time; recording information with a computation device relating to said operational factor; determining a first incremental insurance cost with said computation device using said recorded information for the motor vehicle related to a given incremental time period; transmitting said first incremental insurance cost to the contracting company with said billing transmission system, wherein said first incremental insurance cost is devoid of said location information and said operational factor; restricting access to said operational factor and said vehicle performance information with said billing transmission system by at least encrypting said operational factor; accessing said operational factor and said billing transmission system by at least decrypting said operational factor with an access key, wherein said access key consists of a first passkey retained by the customer and a second passkey retained by a contracting company; providing access with a computing device for the customer outside of the vehicle to said first incremental insurance cost prior to the contracting company billing the customer, wherein said providing access to said first incremental insurance cost is adapted to permit the customer to alter driving habits to adjust a second incremental insurance cost; transmitting said second incremental insurance cost with said billing transmission system to the contracting company, wherein said second incremental insurance cost is devoid of operational factor; and determining billing for the customer from the contracting company based on at least said first and said second incremental insurance costs from said billing transmission system. - View Dependent Claims (16, 17, 18, 19)
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Specification