System and method for computing and sorting trip similarities using geo-spatial information
First Claim
1. A system for pricing an insurance premium based on vehicle trip similarities, the system comprising:
- a computer memory for storing data indicative of telematics data received from a sensor within a vehicle, the telematics data being associated with a plurality of trips and comprising at least one of geo-position information of the vehicle and vehicle kinematics data; and
a processor in communication with the memory, wherein the processor is configured for;
retrieving information related to an automobile insurance policy;
retrieving at least a portion of the stored telematics data from the computer memory;
computing a similarities score for routes traversed in the plurality of trips based on similarity of location data points along the routes traversed, determined from the retrieved telematics data;
storing the computed similarities score;
calculating a price adjustment for the insurance premium for the automobile insurance policy based on the retrieved information related to the policy and the similarities score;
applying the price adjustment to the insurance premium; and
outputting the adjusted price for the insurance premium for the automobile insurance policy.
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Abstract
Systems and methods are disclosed herein for pricing an insurance premium based on a vehicle trip similarity score. The system includes a computer memory and a processor in communication with the computer memory. The computer memory stores telematics data received from a sensor within a vehicle. The telematics data includes at least one of geo-position information of the vehicle and vehicle kinematics data. The processor is configured to compute a similarities score based on the telematics data. The processor is also configured to determine a price, price adjustment, or any other benefit for automobile insurance based on the similarities score.
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Citations
29 Claims
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1. A system for pricing an insurance premium based on vehicle trip similarities, the system comprising:
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a computer memory for storing data indicative of telematics data received from a sensor within a vehicle, the telematics data being associated with a plurality of trips and comprising at least one of geo-position information of the vehicle and vehicle kinematics data; and a processor in communication with the memory, wherein the processor is configured for; retrieving information related to an automobile insurance policy; retrieving at least a portion of the stored telematics data from the computer memory; computing a similarities score for routes traversed in the plurality of trips based on similarity of location data points along the routes traversed, determined from the retrieved telematics data; storing the computed similarities score; calculating a price adjustment for the insurance premium for the automobile insurance policy based on the retrieved information related to the policy and the similarities score; applying the price adjustment to the insurance premium; and outputting the adjusted price for the insurance premium for the automobile insurance policy. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 29)
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9. A system for pricing an insurance premium based on vehicle trip similarities, the system comprising:
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a computer memory for storing telematics data received from a sensor within a vehicle, the telematics data being associated with a plurality of trips and comprising at least one of geo-position information of the vehicle and vehicle kinematics data; and a processor in communication with the memory, wherein the processor is configured for; computing a similarities score for routes traversed in the plurality of trips based on similarity of location data points along the routes traversed, determined from the telematics data received from the computer memory; and determining a price, adjustment, or other benefit for automobile insurance for the driver based on the similarities score. - View Dependent Claims (10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20)
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21. A method for pricing an insurance premium based on vehicle trip similarities, the method comprising:
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receiving, by a processor, data indicative of telematics data collected from a sensor coupled to at least one vehicle during a plurality of trips, wherein the telematics data includes at least one of geo-position information and kinematics data; computing, by the processor, a similarities score for routes traversed in the plurality of trips based on similarity of location data points along the routes traversed, determined from the telematics data; and determining, by the processor, a price for automobile insurance for a driver based on the similarities score. - View Dependent Claims (22, 23, 24)
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25. A non-transitory computer readable medium having stored therein instructions for, upon execution, causing a computer to implement a method for pricing an insurance premium based on vehicle trip similarities, the method comprising:
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receiving, by a processor, telematics data collected from a sensor coupled to a vehicle throughout a plurality of trips taken by the vehicle, wherein the telematics data includes at least one of geo-position information of the vehicle and vehicle kinematics data; computing, by the processor, a similarities score for routes traversed in the plurality of trips based on similarity of location data points along the routes traversed, determined from the telematics data; and determining, by the processor, a price for automobile insurance for a driver based on the similarities score. - View Dependent Claims (26, 27, 28)
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Specification