INSURANCE VERTICAL MARKET SPECIALIZATION
First Claim
1. A system for facilitating vertical market specialization for automobile insurance, comprising:
- a travel information component that receives parameters related to a route of an automobile;
a market determination component that defines an insurance market based at least in part on the parameters related to the route of the automobile and transmits the insurance market to a plurality of insurance companies; and
a rate receiving component that obtains one or more insurance policy premium quotes from the plurality of insurance companies based at least in part on the parameters related to the route of the automobile.
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0 Petitions
Accused Products
Abstract
Vertical insurance market specialization is provided where policies can be created based on granular information related to actual usage of an object. The information can be received in real time or near real time, and specific market definitions can be created based on the information. Insurance companies can bid on specific market definitions, and an owner of the object can select coverage. In cases of automobile insurance, route information or other sensed parameters (such as driving behavior) can be provided to define an insurance market for a specific driver. Allowing companies to bid on the specific instances allows for increased competition and lower cost than current blanket solutions.
123 Citations
20 Claims
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1. A system for facilitating vertical market specialization for automobile insurance, comprising:
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a travel information component that receives parameters related to a route of an automobile; a market determination component that defines an insurance market based at least in part on the parameters related to the route of the automobile and transmits the insurance market to a plurality of insurance companies; and a rate receiving component that obtains one or more insurance policy premium quotes from the plurality of insurance companies based at least in part on the parameters related to the route of the automobile. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9)
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10. A method that facilitates obtaining vertical market insurance coverage information, comprising:
employing a processor to execute computer executable instructions stored in memory to perform the following acts; obtaining information regarding a route of an automobile; defining an insurance market definition based at least in part on the route; and providing the insurance market definition to one or more insurance companies. - View Dependent Claims (11, 12, 13, 14, 15, 16, 17)
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18. A system for receiving insurance rates according to a vertical market definition, comprising:
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means for receiving one or more parameters related to a route of an automobile; means for generating an insurance market definition based at least in part on the one or more parameters related to the route of the automobile; and means for sending the insurance market definition to a plurality of insurance companies. - View Dependent Claims (19, 20)
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Specification