Risk unit based policies

• US 9,361,599 B1
• Filed: 01/28/2015
• Issued: 06/07/2016
• Est. Priority Date: 01/28/2015
• Status: Active Grant

• Current Assignee: Arity International Limited (Allstate Corporation)
• Original Assignee: Allstate Insurance Company (Allstate Corporation)
• Inventors: Irey, Grady, Styrsky, Caryl M., Biemer, Edward A.
• Primary Examiner(s): Hamilton, Sara C
• Application Number:
  US14/607,636
• Time in Patent Office: 496 Days
• Field of Search: 705/4
• 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 insurance 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, the risk unit based insurance policy including a plurality of risk units forming a balance of risk units in a risk unit account, each risk unit representing a cost to insure an average user for a predetermined period of time and the balance of risk units being reduced upon operation of the 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 the risk unit account associated with the risk unit based insurance policy;

at least one vehicle operation sensor arranged in the vehicle, the vehicle operation sensor detecting and recording operational parameters of the vehicle including driving data associated with at least one of;

driving behaviors of the user and an environment in which the vehicle is being operated;

an on-board vehicle computing device in wireless communication with the insurance system server and the at least one vehicle operation sensor arranged in the vehicle, the 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, from the at least one vehicle operation sensor arranged on the vehicle, the driving data associated with at least one of;

driving behaviors of the user and an environment in which the vehicle is being operated;

analyze, in real-time, the received driving data;

determine, in real-time and based on the analyzed received driving data, a consumption rate of the risk units;

display, on at least a vehicle display of the on-board vehicle computing device, the determined consumption rate; and

transmit, to the insurance system server, the determined consumption rate;

the insurance system server 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;

responsive to determining that the number of risk units is below the predetermined threshold, transmit to the on-board vehicle computing device, a notification that the number of risk units in the risk unit account is below a predetermined threshold; and

the on-board vehicle computing device further including instructions that, when executed, cause the on-board vehicle computing device to;

modify operation of at least one system of the vehicle based on the received notification that the number of risk units in the risk unit account is below the predetermined threshold, wherein modifying operation of at least one system of the vehicle includes at least one of;

flashing the headlights, causing the horn to blare, and preventing the vehicle from starting.

2. The risk unit based insurance system of claim 1, wherein the at least one memory of the insurance system further includes instructions that, when executed, cause the insurance system server to:

receive the determined consumption rate; and

reduce the number of risk units in the risk unit account based on the determined consumption rate.

3. The risk unit based insurance system of claim 1, wherein the at least one memory of the insurance system further includes instructions that, when executed, cause the insurance system server to:

transmit, via wireless communication network, the determined consumption rate to a mobile device of the user; and

display the determined consumption rate on a mobile device of the user.

4. The risk unit based insurance system of claim 1, wherein the at least one memory of the insurance system server further includes instructions that, when executed, cause the insurance system server to:

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

transmit, to the on-board vehicle computing device, the determined at least one refill option; and

display, by at least the vehicle display of the on-board vehicle computing device, the at least one refill option.

5. The risk unit based insurance system of claim 4, wherein the at least one refill option is further displayed via a mobile device of the user.

6. The risk unit based insurance system of claim 1, wherein the at least one vehicle operation sensor includes a plurality of sensors.

7. The risk unit based insurance system of claim 6, wherein the plurality of sensors includes at least one of:

accelerometer, speedometer, external temperature, and precipitation sensor.

8. The risk unit based insurance system of claim 1, wherein the driving data associated with driving behaviors of the user includes at least:

hard braking, rapid acceleration, rapid deceleration, and swerving.

9. One or more non-transitory computer-readable media having computer-executable instructions stored thereon that, when executed by a processor, cause at least one computing device to:

receive, by an insurance system server and from a user, a request to obtain a risk unit based insurance policy for a vehicle, wherein at least one vehicle operation sensor is arranged on the vehicle, the risk unit based insurance policy including a plurality of risk units forming a balance of risk units in a risk unit account, each risk unit representing a cost to insure an average user for a predetermined period of time and the balance of risk units being reduced upon operation of the vehicle;

generate, by the insurance system server, the risk unit based insurance policy for the vehicle responsive to the received request;

deposit, by the insurance system server, a predetermined number of risk units into the risk unit account associated with the risk unit based insurance policy;

detect and record, via the at least one vehicle operation sensor arranged in the vehicle, operational parameters of the vehicle including driving data associated with at least one of;

driving behaviors of the user and an environment in which the vehicle is being operated;

receive, by an on-board vehicle computing device in wireless communication with the insurance system server and the at least one vehicle operation sensor arranged in the vehicle, and from the at least one vehicle operation sensor arranged in the vehicle, the driving data associated with at least one of;

driving behaviors of the user and an environment in which the vehicle is being operated;

analyze, by the on-board vehicle computing device and in real-time, the received driving data;

determine, by the on-board vehicle computing device in real-time and based on the analyzed received driving data, a consumption rate of the risk units;

display, by at least a vehicle display of the on-board vehicle computing device, the determined consumption rate;

transmit, to the insurance system server and by the on-board vehicle computing device, the determined consumption rate;

determine, by the insurance system server whether a number of risk units in the risk unit account is below a predetermined threshold;

responsive to determining that the number of risk units is below the predetermined threshold, transmit, by the insurance system server and to the on-board vehicle computing device, a notification that the number of risk units in the risk unit account is below a predetermined threshold; and

modify, by the on-board vehicle computing device, operation of at least one system of the vehicle based on the received notification that the number of risk units in the risk unit account is below the predetermined threshold, wherein modifying operation of at least one system of the vehicle includes at least one of;

flashing the headlights, causing the horn to blare, and preventing the vehicle from starting.