Technique for providing automobile insurance

  • US 20040260579A1
  • Filed: 06/19/2003
  • Published: 12/23/2004
  • Est. Priority Date: 06/19/2003
  • Status: Abandoned Application
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First Claim
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1. A method of providing automobile insurance, comprising the steps of:

  • setting a term and a periodic monetary payment for an automobile insurance policy based upon a rating applied to an entity, wherein the rating is based at least in part upon an initial driving record associated with the entity, and wherein the periodic monetary payment is paid by the entity to an insurer to maintain the automobile insurance policy in force;

    monitoring a driving record associated with the entity during the term of the automobile insurance policy; and

    providing a monetary payment from the insurer to the entity upon expiration of the term when the driving record associated with the entity during the term is above a minimum performance level.

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