Usage-based policies

• US 10,817,950 B1
• Filed: 01/06/2016
• Issued: 10/27/2020
• Est. Priority Date: 01/28/2015
• Status: Active Grant

• Current Assignee: Arity International Limited (Allstate Corporation)
• Original Assignee: Arity International Limited (Allstate Corporation)
• Inventors: Iqbal, Imran, Styrsky, Caryl M., Irey, Grady, Biemer, Edward A.
• Primary Examiner(s): Hamilton, Sara C
• Application Number:
  US14/988,977
• Time in Patent Office: 1,756 Days
• Field of Search: 705 4
• CPC Class Codes: G06Q 40/08 Insurance
• CPC Class Codes: G07C 5/008 communicating information to a remotely located station transmission systems for measured values G08C
• CPC Class Codes: G07C 5/02 Registering or indicating driving, working, idle, or waiting time only apparatus forming part of taximeters G07B13/00
• CPC Class Codes: G07C 5/0808 Diagnosing performance data testing of vehicles G01M17/00; testing of electrical installation on vehicles G01R31/005

Abstract

Methods, computer-readable media, systems and apparatuses for determining and implementing usage-based insurance policies are presented. A first cost per day and second cost per day associated with the usage-based insurance policy may be determined and a cost for a first trip may be determined based on the cost per day and cost per mile. Driving data received during the first trip may be used to modify the cost per day and cost per mile to determine a second cost per day and/or cost per mile that may be used to determine a cost of subsequent driving trips.

Claims

1. A system, comprising:

a plurality of sensors arranged in a vehicle;

an 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 plurality of sensors on the vehicle, driving data associated with operation of the vehicle during a first driving trip, the driving data including at least a start time of the first driving trip, an end time of the first driving trip, a distance of the first driving trip, and a driving behavior associated with the first driving trip; and

transmit, to an insurance system server, the received driving data; and

the insurance system server including one or more processors, and at least one memory storing computer-readable instructions that, when executed by the one or more processors, cause the insurance system server to;

receive a premium for a usage-based insurance policy, the premium including an amount of funds provided by a user and stored in an account associated with one of;

the user and the vehicle;

receive, from an insurance system database, insurance information including a first cost per day and a first cost per mile for operating the vehicle under the usage-based insurance policy, the first cost per day and first cost per mile being independent of the driving data;

receive, from the on-board vehicle computing device, real-time driving data for the first driving trip including the start time of the first driving trip, the end time of the first driving trip, the distance of the first driving trip, and any occurrences of the driving behavior;

receive real-time environmental condition data for the first driving trip;

determine a cost of the first driving trip based on a duration of the first driving trip, the distance of the first driving trip, the first cost per day and the first cost per mile;

reduce the amount of funds associated with the premium and stored in the account by the cost of the first driving trip and storing a balance of remaining funds in the account;

subsequent to determining the cost of the first driving trip, modifying the received first cost per day and first cost per mile for operating the vehicle under the usage-based insurance policy based on the received real-time driving data and the received real-time environmental data and generate a second cost per day and a second cost per mile for operating the vehicle under the usage-based insurance policy based on the modification;

receive real-time driving data for a second driving trip including a start time of the second driving trip, an end time of the second driving trip, a distance of the second driving trip and any occurrences of the driving behavior in the second driving trip;

determine a cost of the second driving trip based on the received real-time driving data for the second driving trip, the second amount per day and the second amount per mile; and

reduce the balance of the remaining funds in the account by the cost of the second driving trip.

2. The system of claim 1, the insurance system server further including instructions that, when executed, cause the insurance system server to:

determine a threshold number of miles per day;

determine whether the distance of the first driving trip is greater than the threshold number of miles per day;

responsive to determining that the distance of the first driving trip is not greater than the threshold number of miles per day, determining the cost of the first driving trip based on the distance of the first driving trip; and

responsive to determining that the distance of the first driving trip is equal to or greater than the threshold number of miles per day, determining the cost of the first driving trip based on the threshold number of miles per day.

3. The system of claim 1, the insurance system server further including instructions that, when executed, cause the insurance system server to:

determine whether the reduced balance of the remaining funds is below a predetermined threshold; and

responsive to determining that the reduced balance of the remaining funds is below the predetermined threshold, automatically attempt to transfer funds from a payment account to the account.

4. The system of claim 3, wherein the payment account is a credit card of the user.

5. The system of claim 1, further including a display of the on-board vehicle computing device, wherein the on-board vehicle computing device further includes instructions that, when executed, cause the on-board vehicle computing device to display at least one of:

the first cost per day, the first cost per mile, the second cost per day, the second cost per mile, the driving data for the first driving trip and the driving data for the second driving trip.

6. The system of claim 1, wherein the driving behavior includes hard braking.

7. The system of claim 1, wherein the driving behavior includes at least one of:

swerving, speeding, and rapid acceleration.

8. The system of claim 1, the insurance system server further including instructions that, when executed, cause the insurance system server to:

determine whether the reduced balance of the remaining funds is below a predetermined threshold; and

responsive to determining that the reduced balance of the remaining funds is below the predetermined threshold, transmit a signal to modify operation of the vehicle.

9. One or more non-transitory computer-readable media storing instructions that, when executed by a processor, cause a computing device to:

receive a premium for a usage-based insurance policy, the premium including an amount of funds provided by a user and stored in an account associated with one of;

the user and a vehicle;

receive, from an insurance system database, insurance information including a first cost per day and a first cost per mile for operating the vehicle under the usage-based insurance policy, the first cost per day and first cost per mile being independent of the driving data;

receive, from an on-board vehicle computing device and in real-time, driving data for a first driving trip including a start time of the first driving trip, an end time of the first driving trip, a distance of the first driving trip, and any occurrences of a driving behavior;

receive, in real-time, environmental condition data for the first driving trip;

determine a cost of the first driving trip based on a duration of the first driving trip, the distance of the first driving trip, the first cost per day and the first cost per mile;

reduce the amount of funds associated with the premium and stored in an account by the cost of the first driving trip and storing a balance of remaining funds in the account;

subsequent to determining the cost of the first driving trip, modify the first cost per day and first cost per mile for operating the vehicle under the usage-based insurance policy based on the received driving data and the received environmental data and generate a second cost per day and a second cost per mile for operating the vehicle under the usage-based insurance policy based on the modification;

receive, in real-time, driving data for a second driving trip including a start time of the second driving trip, an end time of the second driving trip, a distance of the second driving trip and any occurrences of the driving behavior in the second driving trip;

determine a cost of the second driving trip based on the received driving data for the second driving trip, the second amount per day and the second amount per mile; and

reduce the balance of the remaining funds in the account by the cost of the second driving trip.

10. The one or more non-transitory computer-readable media of claim 9, further including instructions that, when executed, cause the computing device to:

determine a threshold number of miles per day;

determine whether the distance of the first driving trip is greater than the threshold number of miles per day;

responsive to determining that the distance of the first driving trip is not greater than the threshold number of miles per day, determining the cost of the first driving trip based on the distance of the first driving trip; and

responsive to determining that the distance of the first driving trip is equal to or greater than the threshold number of miles per day, determining the cost of the first driving trip based on the threshold number of miles per day.

11. The one or more non-transitory computer-readable media of claim 9, further including instructions that, when executed, cause the computing device to:

determine whether the reduced balance of the remaining funds is below a predetermined threshold; and

responsive to determining that the reduced balance of the remaining funds is below the predetermined threshold, automatically attempt to transfer funds from a payment account to the account.

12. The one or more non-transitory computer-readable media of claim 11, wherein the payment account is a credit card of the user.

13. The one or more non-transitory computer readable media of claim 9, further including a display of the on-board vehicle computing device, wherein the on-board vehicle computing device further includes instructions that, when executed, cause the on-board vehicle computing device to display at least one of:

the first cost per day, the first cost per mile, the second cost per day, the second cost per mile, the driving data for the first driving trip and the driving data for the second driving trip.

14. The one or more non-transitory computer-readable media of claim 9, wherein the driving behavior includes hard braking.

15. The one or more non-transitory computer-readable media of claim 9, wherein the driving behavior includes at least one of:

swerving, speeding, and rapid acceleration.

16. A method, comprising:

receiving, by computing device having at least one processor, a premium for a usage-based insurance policy, the premium including an amount of funds provided by a user and stored in an account associated with one of;

the user and a vehicle;

receiving, by the computing device and from an insurance system database, insurance information including a first cost per day and a first cost per mile for operating the vehicle under the usage-based insurance policy, the first cost per day and first cost per mile being independent of the driving data;

receiving, by the computing device, from an on-board vehicle computing device and in real-time, driving data for a first driving trip including a start time of the first driving trip, an end time of the first driving trip, a distance of the first driving trip, and any occurrences of a driving behavior;

receiving, by the computing device and in real-time, environmental condition data for the first driving trip;

determining, by the at least one processor, a cost of the first driving trip based on a duration of the first driving trip, the distance of the first driving trip, the first cost per day and the first cost per mile;

reducing, by the at least one processor, the amount of funds associated with the premium and stored in an account by the cost of the first driving trip and storing a balance of remaining funds in the account;

subsequent to determining the cost of the first driving trip, modifying, by the at least one processor, the first cost per day and first cost per mile for operating the vehicle under the usage-based insurance policy based on the received driving data and the received environmental data and generating, by the at least one processor, a second cost per day and a second cost per mile for operating the vehicle under the usage-based insurance policy based on the modification;

receiving, by the at least one processor and in real-time, driving data for a second driving trip including a start time of the second driving trip, an end time of the second driving trip, a distance of the second driving trip and any occurrences of the driving behavior in the second driving trip;

determining, by the at least one processor, a cost of the second driving trip based on the received driving data for the second driving trip, the second amount per day and the second amount per mile; and

reducing, by the at least one processor, the balance of the remaining funds in the account by the cost of the second driving trip.

17. The method of claim 16, further including:

determining, by the at least one processor, a threshold number of miles per day;

determining, by the at least one processor, whether the distance of the first driving trip is greater than the threshold number of miles per day;

responsive to determining that the distance of the first driving trip is not greater than the threshold number of miles per day, determining, by the at least one processor, the cost of the first driving trip based on the distance of the first driving trip; and

responsive to determining that the distance of the first driving trip is equal to or greater than the threshold number of miles per day, determining, by the at least one processor, the cost of the first driving trip based on the threshold number of miles per day.

18. The method of claim 16, further including:

determining, by the at least one processor, whether the reduced balance of the remaining funds is below a predetermined threshold; and

responsive to determining that the reduced balance of the remaining funds is below the predetermined threshold, automatically attempting, by the at least one processor, to transfer funds from a payment account to the account.

19. The method of claim 16, wherein the driving behavior includes at least one of:

swerving, speeding, hard braking, and rapid acceleration.

20. The method of claim 16, further including:

determining, by the at least one processor, whether the reduced balance of the remaining funds is below a predetermined threshold; and

responsive to determining that the reduced balance of the remaining funds is below the predetermined threshold, transmitting, by the at least one processor, an instruction to modify operation of the vehicle.