Monitoring system for determining and communicating a cost of insurance
First Claim
1. A system for determining the cost of insurance related to the operation of a motor vehicle associated with a party, the system comprising:
- a device for obtaining and recording operational characteristics and operator actions relating to a level of risk applicable to the motor vehicle;
a means for the party associated with the motor vehicle to review the recorded information in conjunction with information indicating how the recorded information would affect the cost of insurance;
a means for the party associated with the motor vehicle to selectively control whether to submit the recorded information to an insurer;
a means for the party associated with the motor vehicle to submit the recorded information to the insurer, if the party elects to do so;
a means for assigning a risk level based in part on the recorded information; and
a means for determining a cost of insurance for the motor vehicle based on the assigned risk level.
3 Assignments
0 Petitions
Accused Products
Abstract
Means are provided for recording, storing, calculating, communicating and reviewing one or more operational aspects of a machine. Insurance costs are based, in part, on activities of the machine operator. A discount may be provided in exchange for recording the operational aspects and providing the recorded information to the insurer. The party may review information and decide whether to provide it to the insurer. The means for reviewing may present comparative information. Information that causes insurance costs to vary may be highlighted. Provided data may be used to verify insurance application information, generate actuarial information or determine insurance rates. Operating data may be reviewed on a computer, a Web site or other display medium so a party can observe how his operating behavior compares to that of other operators of similar machines and may be manipulated so a party can understand how changes in operating behavior can affect his insurance rates.
730 Citations
85 Claims
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1. A system for determining the cost of insurance related to the operation of a motor vehicle associated with a party, the system comprising:
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a device for obtaining and recording operational characteristics and operator actions relating to a level of risk applicable to the motor vehicle;
a means for the party associated with the motor vehicle to review the recorded information in conjunction with information indicating how the recorded information would affect the cost of insurance;
a means for the party associated with the motor vehicle to selectively control whether to submit the recorded information to an insurer;
a means for the party associated with the motor vehicle to submit the recorded information to the insurer, if the party elects to do so;
a means for assigning a risk level based in part on the recorded information; and
a means for determining a cost of insurance for the motor vehicle based on the assigned risk level. - View Dependent Claims (2, 3, 4, 5, 6)
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7. A method for reviewing operational data collected from a motor vehicle and determining how that data affects the cost of insuring the motor vehicle, the method comprising:
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providing a means for obtaining and recording information regarding one or more aspects of motor vehicle operation; and
providing a means for a party associated with the motor vehicle to review the recorded information in conjunction with information regarding at least one risk factor and indicating how the recorded information, if provided to an insurer, would affect the cost of insurance. - View Dependent Claims (8, 9, 10, 11, 12, 13, 14, 15, 16)
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17. A system for analyzing the operational actions and behavior of a motor vehicle operator, the system comprising:
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a data logger that is operative to record information regarding at least one aspect of motor vehicle operation; and
a display device that is operative to receive a copy of the recorded information from the data logger and display at least a portion of the recorded information in conjunction with information regarding at least one risk factor and indicating how the recorded information, if provided to an insurer, would affect the cost of insurance. - View Dependent Claims (18, 19, 20, 21, 22, 23, 24, 25)
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26. A method for analyzing how a cost of insurance would be affected by altering the operation actions and behavior of an operator of a motor vehicle, the method comprising:
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providing a means for entering information regarding at least one aspect of the operation of the motor vehicle;
providing a means to display the entered information regarding the at least one aspect of motor vehicle operation in conjunction with information related to how the entered information would affect the cost of insurance; and
providing a means to manipulate the displayed information in conjunction with information on how modifying operation of the motor vehicle would affect the cost of insurance. - View Dependent Claims (27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37)
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38. A method for comparing the operational characteristics of a motor vehicle operator with the operational characteristics of operators of other motor vehicles, the method comprising:
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providing a means for recording one or more aspects of the operation of the motor vehicle by the operator;
providing a means for the operator to review recorded information regarding at least one aspect of motor vehicle operation by the operator in conjunction with information related to the operation of other motor vehicles. - View Dependent Claims (39, 40, 41, 42, 43, 44, 45)
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46. A method of determining a cost of insurance related to the operation of a machine associated with a party, the method comprising:
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offering a device for recording at least one aspect of the operation of the machine; and
determining the cost of insurance based at least in part on actions taken by the party related to the use of the device after the device is offered. - View Dependent Claims (47, 48, 49, 50, 51, 52)
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53. A device for recording at least one aspect of machine operation and transmitting the information to a computational platform, the device comprising:
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a processor;
a log;
a clock;
a machine interface;
a computational platform interface; and
a program storage including instructions for directing the processor to receive information from a component of the machine through the machine interface, store the information in the log in association with time information from the clock, at least some of the information being stored in an encrypted form, and transmit at least the encrypted information to the computational platform. - View Dependent Claims (54, 55, 56, 57, 58, 59, 60, 61, 62, 63, 64, 65, 66, 67, 68, 69, 70)
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71. A device for recording at least one aspect of machine operation and transmitting the information to a computational platform, the device comprising:
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a processor;
a log;
a clock;
a machine interface;
a computational platform interface; and
a program storage including instructions directing the processor to receive speed information from a component of the machine through the machine interface, calculate an acceleration or deceleration based on the speed information, compare the calculated acceleration or deceleration to an acceleration or deceleration threshold and store the acceleration or deceleration in the log in association with time information from the clock and the speed information if the calculated acceleration or deceleration is beyond the acceleration or deceleration threshold. - View Dependent Claims (72, 73, 74, 75, 76, 77, 78, 79, 80, 81, 82, 83, 84, 85)
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Specification