System and method for administering a telematics-enabled test drive dealer program

• US 9,786,009 B2
• Filed: 11/29/2011
• Issued: 10/10/2017
• Est. Priority Date: 11/29/2011
• Status: Active Grant

• Current Assignee: Hartford Fire Insurance Company (The Hartford Financial Services Group, Inc.)
• Original Assignee: Hartford Fire Insurance Company (The Hartford Financial Services Group, Inc.)
• Inventors: Schumann, Jr., Douglas D., Carges, Alex M., Slattery, Michael Patrick, Lim, Ben J.
• Primary Examiner(s): Ebersman, Bruce I
• Application Number:
  US13/306,388
• Publication Number:
  US 20130138460A1
• Time in Patent Office: 2,142 Days
• CPC Class Codes: G06Q 30/06 Buying, selling or leasing transactions
• CPC Class Codes: G06Q 40/08 Insurance
• CPC Class Codes: G06Q 50/40 Business processes related to the transportation industry shipping G06Q10/083

Abstract

Systems and methods are disclosed herein for pricing an insurance premium based on telematics data. The system includes a communications interface and a business logic processor in communications with the communications interface. The communications interface receives telematics data collected by a telematics acquisition device configured at a dealership for collecting telematics data of a vehicle sold by the dealership. The communications interface also receives vehicle data indicating the make and model of the vehicle sold and vehicle owner data related to the purchaser of the vehicle sold. The business logic processor determines an insurance quote for the purchaser based on the received telematics data, vehicle data, and vehicle owner data. The communications interface transmits the insurance quote for the purchaser of the vehicle. The business logic processor also manages a predetermined incentive that is provided to the purchaser in return for allowing the telematics data acquisition device to collect telematics data.

Claims

1. A system comprising:

a telematics data acquisition device, comprising a processor, a GNSS receiver, an accelerometer and an OBD port interface, configured at a dealership to collect telematics data of a vehicle sold by the dealership while the vehicle is in operation, the processor configured to collect telematics data from the accelerometer at intervals, time and location stamp the collected telematics data, and encrypt the collected telematics data;

a communications interface configured to;

receive encrypted telematics data collected and encrypted by the telematics data acquisition device, the telematics data including vehicle diagnostics data collected from the OBD port interface and data collected by the GNSS receiver and the accelerometer and indicative of operation of the vehicle for a monitoring period subsequent to and commencing substantially upon purchase of the vehicle and continuing until completion of one of a period of time or driving of the vehicle a distance;

receive vehicle data indicating at least a make and a model of the vehicle sold by the dealership;

receive vehicle owner data related to a purchaser of the vehicle and collected at the dealership;

receive data indicative of an automobile insurance policy issued by a second insurer to the vehicle owner and covering the vehicle, the data including a deductible amount under the policy;

provide the telematics data upon completion of the monitoring period, the telematics data indicative of operation of the vehicle for the monitoring period, the vehicle data and the vehicle owner data to a computer processor of a computing device of a first insurer;

receive, after completion of the monitoring period, an insurance quote from the computer processor of the computing device of the first insurer, the insurance quote being for the purchaser and for coverage of the vehicle; and

transmit the insurance quote for the purchaser of the vehicle; and

a computing device of the first insurer in communication with the communications interface, the computing device comprising a computer processor configured to;

receive the telematics data, the vehicle data and the vehicle owner data from the communications interface;

determine, upon completion of the monitoring period, the insurance quote for the purchaser for the coverage of the vehicle based on at least the received telematics data, the received vehicle data, and the received vehicle owner data;

access data indicative of one or more conditions associated with a predetermined incentive provided to the purchaser in return for allowing the telematics data acquisition device to collect the telematics data, the predetermined incentive being an offer to pay at least a portion of the deductible amount for a claim filed with the second insurer under the insurance policy issued by the second insurer, during the monitoring period, and determine, based on the received telematics data, whether the one or more conditions have been met;

responsive to determining that the one or more conditions have been met, provide output data indicative that the at least a portion of the deductible amount will be covered by the first insurer; and

analyze the received vehicle diagnostics data and data indicative of distance traveled to determine at least one of;

the vehicle is malfunctioning; and

the vehicle needs service, and responsive to determining at least one of the vehicle is malfunctioning and the vehicle needs service, generate an alert and communicate the alert to a communications device of the vehicle owner;

wherein configuring the telematics data acquisition device comprises installing a telematics data acquisition application on a smartphone owned by the purchaser, the telematics data acquisition application configuring the smartphone to acquire the telematics data and transmit the telematics data via a wireless communications pathway.

2. The system of claim 1, wherein:

the communications interface is further configured to receive data related to the vehicle purchaser from an application for a loan to fund the purchase of the vehicle; and

the computer processor of the computing device of the first insurer is further configured to determine the insurance quote based on the data collected by the data from the loan application.

3. The system of claim 1, wherein transmitting the insurance quote comprises transmitting an insurance premium price and an insurance premium payment schedule to the dealership.

4. The system of claim 1, wherein the communications interface is configured to receive a payment for insurance transmitted by the dealership.

5. The system of claim 1, wherein the computer processor of the computing device of the first insurer is further configured to determine the insurance quote after receiving a predetermined amount of telematics data.

6. The system of claim 1, wherein the telematics data acquisition device is a first telematics data acquisition device, and:

the communications interface is configured to receive telematics data collected by a second telematics data acquisition device; and

the computer processor of the computing device of the first insurer is further configured to determine the insurance quote based on the telematics data collected by the second telematics data acquisition device.

7. The system of claim 6, wherein the telematics data collected by the second telematics data acquisition device is collected during a period of time before data is collected by the first telematics data acquisition device.

8. The system of claim 1, wherein configuring the telematics data acquisition device comprises installing in the vehicle a telematics data acquisition device configured for running a telematics data acquisition program.

9. A method comprising:

collecting, by a telematics data acquisition device, comprising a processor, a GNSS receiver, an accelerometer and an OBD port interface, configured at a dealership to collect telematics data of a vehicle sold by the dealership while the vehicle is in operation, telematics data of the vehicle, the collecting including collecting, by the processor, telematics data from the accelerometer at intervals, and time and location stamping, by the processor, the collected telematics data;

encrypting, by the processor of the telematics data acquisition device, the collected telematics data;

receiving, by a communications interface, encrypted telematics data collected by the telematics data acquisition device, comprising a GNSS receiver and an accelerometer, the received telematics data including data collected by the GNSS receiver and the accelerometer indicative of operation of the vehicle subsequent to purchase of the vehicle and for a monitoring period commencing substantially upon vehicle purchase and continuing for one of a period of time or a driving distance, and vehicle diagnostics data collected via the OBD port interface;

receiving, by the communications interface, vehicle data indicating at least a make and a model of the vehicle sold by the dealership;

receiving, by the communications interface, vehicle owner data related to a purchaser of the vehicle and collected at the dealership;

receiving, by the communications interface, data indicative of an automobile insurance policy issued by a second insurer to the vehicle owner and covering the vehicle, the data including a deductible amount under the policy;

transmitting, upon completion of the monitoring period, by the communications interface, the telematics data indicative of operation of the vehicle for the monitoring period, the vehicle data and the vehicle owner data, to a computer processor of a computing device of a first insurer;

determining, after completion of the monitoring period, by the computer processor of the computing device of the first insurer, an insurance quote for the purchaser based on the received telematics data, the received vehicle data, and the received vehicle owner data;

providing by the computer processor of the computing device of the first insurer the insurance quote to the communications interface;

transmitting, by the communications interface, the insurance quote for the purchaser of the vehicle;

accessing, by the computer processor of the computing device of the first insurer, data indicative of one or more conditions associated with a predetermined incentive provided to the purchaser in return for allowing the telematics data acquisition device to collect telematics data, the predetermined incentive being an offer to pay at least a portion of the deductible amount for a claim filed with the second insurer under the insurance policy issued by the second insurer, during the monitoring period, and determining, based on the received telematics data, whether the one or more conditions have been met;

responsive to determining that the one or more conditions have been met, providing by the computer processor of the computing device of the first insurer output data indicative that the at least a portion of the deductible amount will be covered by the first insurer; and

analyzing the received vehicle diagnostics data and data indicative of distance traveled to determine at least one of;

the vehicle is malfunctioning and the vehicle needs service, and responsive to determining at least one of the vehicle is malfunctioning and the vehicle needs service, generating an alert and communicating the alert to a communications device of the vehicle owner;

wherein configuring the telematics data acquisition device comprises installing a telematics data acquisition application on a smartphone owned by the purchaser, the telematics data acquisition application configuring the smartphone to acquire the telematics data and transmit the telematics data via a wireless communications pathway.

10. The method of claim 9, further comprising:

receiving, by the communications interface, data related to the vehicle purchaser from an application for a loan to fund the purchase of the vehicle; and

determining, by the computer processor of the computing device of the first insurer, the insurance quote based on the data collected by the data from the loan application.

11. The method of claim 9, wherein transmitting the insurance quote comprises transmitting an insurance premium price and an insurance premium payment schedule to the dealership.

12. The method of claim 9, further comprising receiving, by the communications interface, a payment for insurance transmitted by the dealership.

13. The method of claim 9, further comprising determining, by the computer processor of the computing device of the first insurer, the insurance quote after receiving a predetermined amount of telematics data.

14. The method of claim 9, wherein the telematics data acquisition device is a first telematics data acquisition device, the method further comprising:

receiving, by the communications interface, telematics data collected by a second telematics data acquisition device; and

determining, by the computer processor of the computing device of the first insurer, the insurance quote based on the telematics data collected by the second telematics data acquisition device.

15. The method of claim 14, wherein the telematics data collected by the second telematics data acquisition device is collected during a period of time before data is collected by the first telematics data acquisition device.

16. The method of claim 9, wherein configuring the telematics data acquisition device comprises installing in the vehicle a telematics data acquisition device configured for running a telematics data acquisition program.