SYSTEM AND METHOD FOR ADMINISTERING A TELEMATICS-ENABLED TEST DRIVE DEALER PROGRAM

• US 20130138460A1
• Filed: 11/29/2011
• Published: 05/30/2013
• Est. Priority Date: 11/29/2011
• 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: Schumann, Douglas D. Jr., Carges, Alex M., Slattery, Michael Patrick, Lim, Ben J.
• Granted Patent: US 9,786,009 B2
• Time in Patent Office: Days
• US Class Current: 705/4
• CPC Class Codes: G06Q 30/06 Buying, selling or leasing transactions
• CPC Class Codes: G06Q 40/08 Insurance
• CPC Class Codes: G06Q 50/40 Business processes related to the transportation industry shipping G06Q10/083

Abstract

Systems and methods are disclosed herein for pricing an insurance premium based on telematics data. The system includes a communications interface and a business logic processor in communications with the communications interface. The communications interface receives telematics data collected by a telematics acquisition device configured at a dealership for collecting telematics data of a vehicle sold by the dealership. The communications interface also receives vehicle data indicating the make and model of the vehicle sold and vehicle owner data related to the purchaser of the vehicle sold. The business logic processor determines an insurance quote for the purchaser based on the received telematics data, vehicle data, and vehicle owner data. The communications interface transmits the insurance quote for the purchaser of the vehicle. The business logic processor also manages a predetermined incentive that is provided to the purchaser in return for allowing the telematics data acquisition device to collect telematics data.

Claims

1. A system for processing vehicle data related to determination of an insurance quote for a vehicle, the system comprising:

a communications interface configured to;

receive telematics data collected by a telematics data acquisition device, wherein the telematics data acquisition device is configured at a dealership to collect telematics data of a vehicle sold by the dealership, the telematics data indicative of operation of the vehicle subsequent to purchase of the vehicle and for a period of time or a driving distance;

receive vehicle data indicating at least a make and a model of the vehicle sold by the dealership;

receive vehicle owner data related to a purchaser of the vehicle and collected at the dealership;

provide the telematics data, the vehicle data and the vehicle owner data to a business logic processor;

receive an insurance quote from the business logic processor, the insurance quote being for the purchaser and for coverage of the vehicle; and

transmit the insurance quote for the purchaser of the vehicle; and

a business logic processor in communication with the communications interface, the business logic processor configured to;

receive the telematics data, the vehicle data and the vehicle owner data from the communications interface;

determine the insurance quote for the purchaser for the coverage of the vehicle based on at least the received telematics data, the received vehicle data, and the received vehicle owner data; and

access data indicative of one or more conditions associated with a predetermined incentive provided to the purchaser in return for allowing the telematics data acquisition device to collect the telematics data, and determine, based on the received telematics data, whether the one or more conditions have been met.

2. The system of claim 1, wherein the predetermined incentive is an offer to pay for a deductible cost for a claim filed with a second insurer.

3. The system of claim 1, wherein the predetermined incentive is an offer to pay for a service performed on the vehicle by the dealership.

4. The system of claim 1, wherein the predetermined incentive is an offer to provide at least one of a service performed on the vehicle and a replacement vehicle if the vehicle malfunctions.

5. The system of claim 4, wherein:

the communications interface is further configured to receive data related to a vehicle malfunction; and

the business logic processor is further configured to process a claim made by the purchaser related to the malfunction.

6. The system of claim 1, wherein:

the communications interface is further configured to receive data related to the vehicle purchaser from an application for a loan to fund the purchase of the vehicle; and

the business logic processor is further configured to determine the insurance quote based on the data collected by the data from the loan application.

7. The system of claim 1, wherein transmitting the insurance quote comprises transmitting an insurance premium price and an insurance premium payment schedule to the dealership.

8. The system of claim 1, wherein the communications interface is configured to receive a payment for insurance transmitted by the dealership.

9. The system of claim 1, wherein the business logic processor is further configured to, at a time of the purchase of the vehicle and prior to receipt of the vehicle telematics data, determine a quote for insurance for the purchaser for coverage of the vehicle, issuing immediately and for a term up to six months, wherein the quote for insurance for the term up to six months is based on the vehicle data and the vehicle owner data.

10. The system of claim 1, wherein the business logic processor is further configured to determine the insurance quote after receiving a predetermined amount of telematics data.

11. The system of claim 1, wherein the telematics data acquisition device is a first telematics data acquisition device, and:

the communications interface is configured to receive telematics data collected by a second telematics data acquisition device; and

the business logic processor is further configured to determine the insurance quote based on the telematics data collected by the second telematics data acquisition device.

12. The system of claim 11, wherein the telematics data collected by the second telematics data acquisition device is collected during a period of time before data is collected by the first telematics data acquisition device.

13. The system of claim 1, wherein configuring the telematics data acquisition device comprises installing a telematics data acquisition application on a smartphone owned by the purchaser, the telematics data acquisition application configuring the smartphone to acquire the telematics data and transmit the telematics data via a wireless communications pathway.

14. The system of claim 1, wherein configuring the telematics data acquisition device comprises installing in the vehicle a telematics data acquisition device configured for running a telematics data acquisition program.

15. A method for processing data relating to determining an insurance quote for a vehicle, the method comprising:

receiving, by a communications interface, telematics data collected by a telematics data acquisition device, wherein the telematics data acquisition device is configured at a dealership to collect telematics data of a vehicle sold by the dealership, the telematics data indicative of operation of the vehicle subsequent to purchase of the vehicle and for a period of time or a driving distance;

receiving, by the communications interface, vehicle data indicating at least a make and a model of the vehicle sold by the dealership;

receiving, by the communications interface, vehicle owner data related to a purchaser of the vehicle and collected at the dealership;

transmitting, by the communications interface, the telematics data, the vehicle data and the vehicle owner data, to a business logic processor;

determining, by the business logic processor, an insurance quote for the purchaser based on the received telematics data, the received vehicle data, and the received vehicle owner data;

providing by the business logic processor the insurance quote to the communications interface;

transmitting, by the communications interface, the insurance quote for the purchaser of the vehicle; and

accessing, by the business logic processor, data indicative of one or more conditions associated with a predetermined incentive provided to the purchaser in return for allowing the telematics data acquisition device to collect telematics data and determining, based on the received telematics data, whether the one or more conditions have been met.

16. The method of claim 15, wherein the predetermined incentive is an offer to pay for a deductible cost for a claim filed with a second insurer.

17. The method of claim 15, wherein the predetermined incentive is an offer to pay for a service performed on the vehicle by the dealership.

18. The method of claim 15, wherein the predetermined incentive is an offer to provide at least one of a service performed on the vehicle and a replacement vehicle if the vehicle malfunctions.

19. The method of claim 18, further comprising:

receiving, by the communications interface, data related to a vehicle malfunction; and

processing, by the business logic processor, a claim made by the purchaser related to the malfunction.

20. The method of claim 15, further comprising:

receiving, by the communications interface, data related to the vehicle purchaser from an application for a loan to fund the purchase of the vehicle; and

determining, by the business logic processor, the insurance quote based on the data collected by the data from the loan application.

21. The method of claim 15, wherein transmitting the insurance quote comprises transmitting an insurance premium price and an insurance premium payment schedule to the dealership.

22. The method of claim 15, further comprising receiving, by the communications interface, a payment for insurance transmitted by the dealership.

23. The method of claim 15, further comprising determining, by the business logic processor, at a time of the purchase of the vehicle and prior to receipt of the vehicle telematics data, a quote for insurance for the purchaser for coverage of the vehicle, issuing immediately for the term up to six months based on the vehicle data and the vehicle owner data.

24. The method of claim 15, further comprising determining, by the business logic processor, the insurance quote after receiving a predetermined amount of telematics data.

25. The method of claim 15, wherein the telematics data acquisition device is a first telematics data acquisition device, the method further comprising:

receiving, by the communications interface, telematics data collected by a second telematics data acquisition device; and

determining, by the business logic processor, the insurance quote based on the telematics data collected by the second telematics data acquisition device.

26. The method of claim 25, wherein the telematics data collected by the second telematics data acquisition device is collected during a period of time before data is collected by the first telematics data acquisition device.

27. The method of claim 15, wherein configuring the telematics data acquisition device comprises installing a telematics data acquisition application on a smartphone owned by the purchaser, the telematics data acquisition application configuring the smartphone to acquire the telematics data and transmit the telematics data via a wireless communications pathway.

28. The method of claim 15, wherein configuring the telematics data acquisition device comprises installing in the vehicle a telematics data acquisition device configured for running a telematics data acquisition program.

29. A system for selling insurance for a vehicle, the system comprising:

a communications interface configured to;

receive an indication of whether telematics data is being collected by a telematics data acquisition device, wherein the telematics data acquisition device is configured at a dealership to collect telematics data of a vehicle sold by the dealership;

receive vehicle data indicating at least a make and a model of the vehicle sold by the dealership;

receive vehicle owner data related to a purchaser of the vehicle and collected at the dealership; and

transmit an insurance quote for the purchaser of the vehicle; and

a business logic processor in communication with the communications interface, the business logic processor configured to;

determine the insurance quote for the purchaser based on at least the indication of whether telematics data is being collected, the received vehicle data, and the received vehicle owner data; and

access data indicative of one or more conditions associated with a predetermined incentive provided to the purchaser in return for allowing the telematics data acquisition device to collect the telematics data, and determine, based on the received telematics data, whether the one or more conditions have been met.

30. The system of claim 29, wherein the communications interface is further configured to receive the telematics data collected by the telematics data acquisition device, and the business logic processor is further configured to determine the insurance quote for the purchaser based in part on the received telematics data.

31. The system of claim 29, wherein the business logic processor is further configured to apply a discount to the insurance quote based on an indication that telematics data is being collected by the telematics data acquisition device.

32. The system of claim 29, wherein the communications interface is further configured to receive an indication of the frequency or duration of telematics data acquisition, and the business logic processor is further configured to determine a discount to apply to the insurance quote based on at least one of the frequency or the duration of the telematics data acquisition.

33. The system of claim 29, wherein the business logic processor is further configured to condition the providing of the predetermined incentive to the purchaser on whether telematics data is being collected by the telematics data acquisition device.

34. The system of claim 29, wherein the communications interface is further configured to receive an indication of the frequency or duration of telematics data acquisition, and the business logic processor is further configured for conditioning the providing of the predetermined incentive to the purchaser on at least one of the frequency or the duration of the telematics data acquisition.