Systems and methods for determining a fixed rate based on behavior

• US 10,679,297 B1
• Filed: 06/06/2017
• Issued: 06/09/2020
• Est. Priority Date: 06/06/2016
• Status: Active Grant

• Current Assignee: United Services Automobile Association
• Original Assignee: United Services Automobile Association
• Inventors: Young, Stephen, Merwarth, Michael A., Kowall, Jon-Michael, Kyne, Michael, Knopf, Carolyn
• Primary Examiner(s): Lemieux, Jessica
• Application Number:
  US15/615,637
• Time in Patent Office: 1,099 Days
• Field of Search: 705 4
• CPC Class Codes: G06F 16/00 Information retrieval; Database structures therefor; File system structures therefor
• CPC Class Codes: G06Q 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes
• CPC Class Codes: G06Q 40/08 Insurance
• CPC Class Codes: G06Q 50/00 Information and communication technology [ICT] specially adapted for implementation of business processes of specific business sectors, e.g. utilities or tourism healthcare informatics G16H
• CPC Class Codes: G08G 1/096775 where the origin of the information is a central station
• CPC Class Codes: G08G 1/127 to a central station ; Indicators in a central station
• CPC Class Codes: G08G 1/205 Indicating the location of the monitored vehicles as destination, e.g. accidents, stolen, rental

Abstract

A system may include a vehicle system configured to monitor one or more monitor variables related to a vehicle. The system may also include a processor that may receive a selection of the one or more monitor variables to monitor and receive data from the vehicle system. The data may be limited based on the selection of the one or more monitor variables. The processor may then determine a fixed rate premium for at least two years based on the data and display a visualization that may include the fixed rate premium on a display.

Claims

1. A system, comprising:

a vehicle system comprising;

one or more sensors configured to monitor one or more monitor variables related to a driving operation of a vehicle; and

an electronic display;

a processor configured to;

receive a selection of the one or more monitor variables to monitor;

receive a first set of data from the vehicle system over a first period of time while a user drives the vehicle, wherein the first set of data is limited based on the selection of the one or more monitor variables;

determine a fixed rate premium for at least two years based on the first set of data;

disable receiving the first set of data from the vehicle system in response to the fixed rate premium being determined; and

display a visualization comprising the fixed rate premium on the electronic display.

2. The system of claim 1, wherein the one or more monitor variables comprise a number of miles driven by the vehicle, a type of braking used by the vehicle, one or more times when the vehicle is driven, and any combination thereof.

3. The system of claim 1, wherein the processor is configured to:

receive a second set of data indicating activity of a mobile device while the vehicle is in motion; and

determine the fixed rate premium based on the first set of data and the second set of data.

4. The system of claim 1, wherein the processor is configured to:

receive a second set of data from the vehicle system after the fixed rate premium is determined;

determine whether the second set of data is within one or more thresholds associated with a policy that corresponds to the fixed rate premium;

adjust the fixed rate premium when the second set of data is not within the one or more thresholds; and

display a modified visualization comprising the adjusted fixed rate premium on the display.

5. The system of claim 1, comprising a wearable device configured to acquire a second set of data related to the health of a human, wherein the processor is configured to adjust the fixed rate premium for the at least two years based the second set of data.

6. The system of claim 1, comprising a home system configured to acquire a second set of data related to one or more properties of a home, wherein the processor is configured to determine the fixed rate premium for the at least two years based on the first set of data and the second set of data.