SYSTEM AND METHOD FOR GEOCODED INSURANCE PROCESSING USING MOBILE DEVICES

• US 20110161116A1
• Filed: 04/05/2010
• Published: 06/30/2011
• Est. Priority Date: 12/31/2009
• Status: Active Grant

• Current Assignee: Hartford Fire Insurance Company (The Hartford Financial Services Group, Inc.)
• Original Assignee: Hartford Fire Insurance Company (The Hartford Financial Services Group, Inc.)
• Inventors: Peak, David F., Borden, Richard M., Walters, Eugene J., Busque, Keven J., Amigo, Andrew J.
• Granted Patent: US 9,558,520 B2
• Time in Patent Office: Days
• US Class Current: 705/4
• CPC Class Codes: G01C 21/3461 Preferred or disfavoured areas, e.g. dangerous zones, toll or emission zones, intersections, manoeuvre types, segments such as motorways, toll roads, ferries
• CPC Class Codes: G01C 21/36 Input/output arrangements for on-board computers
• CPC Class Codes: G06Q 10/067 Enterprise or organisation modelling
• CPC Class Codes: G06Q 10/10 Office automation; Time management
• CPC Class Codes: G06Q 20/3223 Realising banking transactions through M-devices
• CPC Class Codes: G06Q 20/3278 RFID or NFC payments by means of M-devices
• CPC Class Codes: G06Q 40/08 Insurance
• CPC Class Codes: G06Q 50/22 Social work or social welfare, e.g. community support activities or counselling services
• CPC Class Codes: G16H 10/40 for data related to laboratory analysis, e.g. patient specimen analysis
• CPC Class Codes: G16H 10/60 for patient-specific data, e.g. for electronic patient records
• CPC Class Codes: G16H 10/65 stored on portable record carriers, e.g. on smartcards, RFID tags or CD
• CPC Class Codes: G16H 40/63 for local operation
• CPC Class Codes: G16H 40/67 for remote operation

Abstract

Pursuant to some embodiments, insurance systems, methods and devices are provided which include a data storage device for storing, updating and providing access to loss risk score data, a computer processor for executing program instructions and for retrieving the loss risk score data from the data storage device, a memory, coupled to the computer processor, for storing program instructions for execution by the computer processor, a geocoding engine comprising program instructions stored in the memory for geocoding historical loss data and a plurality of loss risk factors, a scoring engine comprising program instructions stored in the memory for calculating a loss risk score for each of a plurality of geographical locations based on said historical loss data and said plurality of loss risk factors, and a communication device, coupled to the computer processor, to output loss risk score data based on geographical location.

Claims

1. An insurance system, comprising:

a data storage device for storing, updating and providing access to loss risk score data;

a computer processor for executing program instructions and for retrieving the loss risk score data from the data storage device;

a memory, coupled to the computer processor, for storing program instructions for execution by the computer processor;

a geocoding engine comprising program instructions stored in the memory for geocoding historical loss data and a plurality of loss risk factors;

a scoring engine comprising program instructions stored in the memory for calculating a loss risk score for each of a plurality of geographical locations based on said historical loss data and said plurality of loss risk factors; and

storing said loss risk score for each of said plurality of geographical locations in said data storage device.

2. The insurance system of claim 1, further comprising a communication device, coupled to the computer processor, to output loss risk score data based on geographical location.

3. The insurance system of claim 2, wherein said communication device receives a user location from a user operating a mobile device, said scoring engine further comprising program instructions to calculate a loss risk score for said user location.

4. The insurance system of claim 1, said scoring engine further comprising program instructions stored in the memory for determining at least a portion of said loss risk score using data mining techniques including text mining.

5. The insurance system of claim 3, wherein said communication device transmits said loss risk score in a format for display by said mobile device.

6. The insurance system of claim 5, wherein said format is as a map overlay format.

7. The insurance system of claim 2, wherein said communication device receives a route request from a user operating a mobile device, said route request specifying a destination, said scoring engine further comprising program instructions to calculate a trip risk score associated with at least one route to said destination.

8. The insurance system of claim 1, said scoring engine further comprising program instructions to calculate a first trip risk score associated with a first route to said destination, and a second trip risk score associated with a second route to said destination, one of said routes having a lower trip risk score.

9. The insurance system of claim 7, wherein said communication device transmits said trip risk score associated with each of said routes in a format for display by said mobile device.

10. The insurance system of claim 1, wherein said communication device receives trip data from a mobile device associated with an entity, said scoring engine further comprising program instructions to calculate an entity risk score associated with travel of said entity over a period of time.

11. The insurance system of claim 10, wherein said entity is at least one of a person and a vehicle, and said entity risk score is at least one of a person risk score and a vehicle risk score.

12. The insurance system of claim 10, wherein said entity risk score is calculated based on the total distance traveled by said entity over said period of time and the relative percentage of said total distance traveled in locations having a higher risk score.

13. The insurance system of claim 10, further comprising a pricing engine, said pricing engine receiving said person risk score and calculating or adjusting a policy premium responsive to said entity risk score.

14. The insurance system of claim 1, wherein said plurality of loss risk factors include variable data from public data sources including a weather condition data source and a traffic condition data source.

15. The insurance system of claim 1, wherein said calculating a loss risk score for each of a plurality of geographical locations based on said historical loss data and said plurality of loss risk factors includes computing a result of a function involving at least two of an average claim severity, a crime risk factor, a day risk factor, a weather risk factor and a time of day risk factor.

16. The insurance system of claim 1, wherein said calculating a loss risk score for each of a plurality of geographical locations based on said historical loss data and said plurality of loss risk factors includes computing a result of a function involving a user generated risk factor.

17. The insurance system of claim 1, wherein said calculating a loss risk score for each of a plurality of geographical locations based on said historical loss data and said plurality of loss risk factors includes computing a result of a function involving a person risk factor and a vehicle risk factor.

18. The insurance system of claim 1, wherein said geographical locations are identified by street-level geocode data.

19. The insurance system of claim 18, wherein said loss risk score is calculated for a plurality of street intersections.

20. The insurance system of claim 1, further comprising a claims processing module, the claims processing module comprising program instructions for receiving notice of loss information associated with a claim.

21. The insurance system of claim 20, wherein said claims processing module is coupled to said communication device, said communication device receiving said notice of loss information from a mobile device.

22. The insurance system of claim 20, wherein said notice of loss information received from said mobile device includes data collected from a location associated with said notice of loss, said collected data including at least one of:

a timestamp, geolocation data, a picture, a voice recording, and a description of said loss.

23. The insurance system of claim 21, wherein said mobile device is a mobile device associated with a policy holder submitting said notice of loss.

24. The insurance system of claim 23, said communication device receiving independent data associated with said notice of loss, said independent data received from a second mobile device operated by a user other than said policy holder.

25. The insurance system of claim 21, wherein said notice of loss information is provided to said scoring engine to update said loss risk score for said location associated with said notice of loss.

26. A computerized method, comprising:

receiving over a communications network, from a user operating a mobile device, a request for information associated with a location identified by location data;

operating a computer processing system to process said location data to generate a geocode of said location;

operating a computer processing system to generate a loss risk score associated with said geocode of said location, said loss risk score based on a function of an average claim and loss severity of said geocode, and a plurality of variable loss risk factors of said geocode;

operating a computer processing system to generate a response to said request for information, said response including a representation of said loss risk score and mapping data; and

transmitting, over a communications network, said response to said mobile device for presentation to said user.

27. The computerized method of claim 26, wherein said request for information associated with a location is a request for route information to a destination location, the method further comprising:

operating a computer processor to generate a trip risk score associated with at least a first route to said destination location.

28. The computerized method of claim 27, wherein said trip risk score is based on a function of a plurality of said loss risk scores associated with a plurality of geocodes associated with said at least first route to said destination.

29. The computerized method of claim 26, wherein said generating a response to said request for route information is a representation of said at least first route to said destination with a representation of a trip risk score associated with said at least first route.

30. The computerized method of claim 26, wherein said request for information is automatically generated by an application associated with said mobile device based on a current route associated with said mobile device.

31. The computerized method of claim 27, further comprising receiving said response by said mobile device and alerting said user of said loss risk score.

32. The computerized method of claim 26, wherein said geographical locations are identified by street-level geocode data.

33. The computerized method of claim 32, wherein said loss risk score is calculated for a plurality of street intersections.

34. A computerized method for processing insurance data, comprising:

receiving over a wireless communications network, from an application associated with a mobile device, data associated with the travel of said mobile device while carried in a vehicle by a user, said data associated with the travel including geolocation data;

operating a processor to calculate a entity risk score based on said data associated with the travel of said mobile device, said entity risk score calculated based on the total amount of said travel in geolocations having a high loss risk score, the total amount of said travel in geolocations having a normal loss risk score, and the total amount of said travel in geolocations having a low loss risk score;

operating a processor to at least one of (i) generate a policy premium, and (ii) modify a policy premium for said user responsive to said entity risk score; and

updating a policy database to include a policy premium associated with said user.

35. The computerized method of claim 34, wherein said entity risk score is at least one of a vehicle risk score and a person risk score.

36. The computerized method of claim 34, further comprising operating a computer to generate said loss risk scores based on historical loss risk data and a plurality of loss risk factors associated with each of said geolocations.

37. The computerized method of claim 34, wherein said geographical data includes street-level geocode data.

38. The computerized method of claim 34, wherein said generated policy premium is for a policy renewal.

39. A portable wireless communication device, comprising:

a touch-sensitive display screen;

a communication port;

a processor;

a memory;

and a program, wherein the program is stored in the memory and configured to be executed by the processor, the program including;

instructions for detecting a user action requesting a route risk score, said route comprising a plurality of street level geographical locations, with respect to the touch-sensitive display screen,

instructions for communicating the request for the route risk score based on said historical loss data and a plurality of loss risk factors associated with at least one geographical location in said route via the communication port, and

instructions for displaying a received risk score on the touch-sensitive display screen.

40. The device of claim 39, wherein said instructions for displaying a received risk score include instructions for displaying said received risk score as an overlay on a map displayed on the touch-sensitive display screen.