System and method for providing usage based vehicle insurance
First Claim
1. A non-transitory machine-readable medium comprising instructions, which when implemented by a computer perform the following operations:
- receive fuel transaction data for a party from a fuel dispenser, the fuel transaction data including a fuel cost for a fueling operation that is being initiated;
in response to the fueling operation being initiated, receive insurance policy data for an insurance policy, wherein the insurance policy data is specific to the party;
determine a prospective premium for the insurance policy, wherein the prospective premium is at least partially based on the insurance policy data;
add the prospective premium to the fuel cost to generate a total cost; and
receive payment of the total cost at a conclusion of the fueling operation.
1 Assignment
0 Petitions
Accused Products
Abstract
Methods and systems for providing usage based insurance for one or more vehicles for an insured individual or party. In an example, fuel transaction data is received for a party, the fuel transaction data includes a fuel cost; insurance policy data is received for an insurance policy; a premium is determined for the insurance policy using a computing device and the premium is added to the fuel cost. In an example, a geographic location for a vehicle is determined and a premium is determined using at the least the geographic location. In an example, a number of miles driven in a time period is determined and a premium is determined using at the least the number of miles driven. In an example, a premium is determined for an insurance policy using at least a portion of the fuel transaction data. In an example, at least one vehicle related parameter is predicted from the fuel transaction data and a premium is determined using the vehicle related parameter.
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Citations
24 Claims
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1. A non-transitory machine-readable medium comprising instructions, which when implemented by a computer perform the following operations:
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receive fuel transaction data for a party from a fuel dispenser, the fuel transaction data including a fuel cost for a fueling operation that is being initiated; in response to the fueling operation being initiated, receive insurance policy data for an insurance policy, wherein the insurance policy data is specific to the party; determine a prospective premium for the insurance policy, wherein the prospective premium is at least partially based on the insurance policy data; add the prospective premium to the fuel cost to generate a total cost; and receive payment of the total cost at a conclusion of the fueling operation. - View Dependent Claims (2, 3, 4, 5, 6)
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7. A non-transitory machine-readable medium comprising instructions, which when implemented by a computer perform the following operations:
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receive fuel transaction data for a party from a fuel dispenser, the fuel transaction data at least including a fuel cost for a fueling operation that is being initiated; in response to the fueling operation being initiated, receive insurance policy data for an insurance policy, wherein the insurance policy data is specific to the party; determine a premium component for the insurance policy, wherein the premium is at least partly based on the insurance policy data; determine a bill for the insurance policy for an insured party, the bill being equal to the premium component plus the fuel cost; and receive payment of the bill when the fueling operation is concluded. - View Dependent Claims (8, 9, 10, 11, 12)
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13. A non-transitory machine-readable medium comprising instructions, which when implemented by a computer perform the following operations:
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receive fuel transaction data for a party from a fuel dispenser, the fuel transaction data including a fuel cost for a fueling operation that is being initiated; in response to the fueling operation being initiated, receive insurance policy data for an insurance policy; determine a premium for the insurance policy, wherein the premium is at least partially based on the insurance policy data; communicate the premium to the insured party; and receive payment of the premium at the fuel dispenser when the fueling operation is concluded. - View Dependent Claims (14, 15, 16, 17, 18)
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19. A non-transitory machine-readable medium comprising instructions, which when implemented by a computer perform the following operations:
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receive fuel transaction data for a party, the fuel transaction data including a fuel cost for a fueling operation that is being initiated; in response to the fueling operation being initiated, receive insurance policy data that is both specific to a party and for an insurance policy; determine a prospective premium for the insurance policy, wherein the prospective premium is determined at least partially based on the fuel transaction data and the insurance policy data; add the prospective premium to the fuel cost; and receive payment of the prospective premium and the fuel cost at the conclusion of the fueling operation. - View Dependent Claims (20, 21, 22, 23, 24)
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Specification