SYSTEM AND METHOD FOR COMPUTING TRIP SCORE USING GEO-SPATIAL INFORMATION
First Claim
1. A system for converting geo-spatial information into insurance determinations based on vehicle trip data, the system comprising:
- one or more data storage devices for storing data indicative of telematics data received from a sensor within a vehicle, the telematics data being associated with a plurality of trips and comprising at least one of geo-position information of the vehicle and vehicle kinematics data;
one or more computer processors in communication with the one or more data storage devices;
a communications device in communication with the one or more computer processors and the one or more data storage devices; and
a memory, coupled to the one or more computer processors, storing program instructions which, when executed by the one or more computer processors, cause the one or more computer processors to;
retrieve information related to an automobile insurance policy;
retrieve at least a portion of the stored data indicative of the telematics data from the computer memory;
compute a trips score based on a comparison of paths taken on the plurality of trips, determined from the retrieved telematics data;
store the computed trips score;
perform an insurance calculation for the automobile insurance policy based on the retrieved information related to the policy and the trips score; and
output an insurance determination for the automobile insurance policy based on the insurance calculation.
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Abstract
Systems and methods are disclosed herein for pricing an insurance premium based on a vehicle trip similarity score. The system includes a computer memory and a processor in communication with the computer memory. The computer memory stores telematics data received from a sensor within a vehicle. The telematics data includes at least one of geo-position information of the vehicle and vehicle kinematics data. The processor is configured to compute a similarities score based on the telematics data. The processor is also configured to determine a price, price adjustment, or any other benefit for automobile insurance based on the similarities score.
6 Citations
20 Claims
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1. A system for converting geo-spatial information into insurance determinations based on vehicle trip data, the system comprising:
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one or more data storage devices for storing data indicative of telematics data received from a sensor within a vehicle, the telematics data being associated with a plurality of trips and comprising at least one of geo-position information of the vehicle and vehicle kinematics data; one or more computer processors in communication with the one or more data storage devices; a communications device in communication with the one or more computer processors and the one or more data storage devices; and a memory, coupled to the one or more computer processors, storing program instructions which, when executed by the one or more computer processors, cause the one or more computer processors to; retrieve information related to an automobile insurance policy; retrieve at least a portion of the stored data indicative of the telematics data from the computer memory; compute a trips score based on a comparison of paths taken on the plurality of trips, determined from the retrieved telematics data; store the computed trips score; perform an insurance calculation for the automobile insurance policy based on the retrieved information related to the policy and the trips score; and output an insurance determination for the automobile insurance policy based on the insurance calculation. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9)
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10. A computerized method for converting geo-spatial information into insurance determinations based on vehicle trip data, the method comprising:
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receiving, by one or more computer processors, data indicative of telematics data collected from a sensor within at least one vehicle during a plurality of trips, wherein the telematics data includes at least one of geo-position information and kinematics data; receiving, by the one or more computer processors, information related to an automobile insurance policy; computing, by the one or more computer processors, a trips score based on a comparison of paths taken on the plurality of trips, determined from the telematics data; and performing, by the one or more computer processors, an insurance calculation for the automobile insurance policy based on the received information related to the automobile insurance policy and the trips score; and outputting, by the one or more computer processors, an insurance determination relating to the automobile insurance policy, wherein the insurance determination is based on the insurance calculation. - View Dependent Claims (11, 12, 13, 14, 15, 16, 17)
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18. A system for converting geo-spatial information into insurance determinations based on vehicle trip data, the system comprising:
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one or more data storage devices for storing summary data indicative of telematics data received from a sensor within a vehicle, the telematics data being associated with a plurality of trips; one or more computer processors in communication with the one or more data storage devices; a communications device in communication with the one or more computer processors and the one or more data storage devices; and a memory, coupled to the one or more computer processors, storing program instructions which, when executed by the one or more computer processors, cause the one or more computer processors to; receive, by the communications device from a third party provider of trips scores, a trips score based on a comparison of paths taken on a plurality of trips, the plurality of trips represented in detailed data indicative of telematics data received by the third party provider of trips from a sensor within a vehicle associated with the plurality of trips, wherein the detailed data indicative of telematics data comprises at least one of geo-position information of the vehicle and vehicle kinematics data; perform an insurance calculation for one of an existing or not yet issued automobile insurance policy, wherein the insurance calculation is based on the trips score; and output the insurance determination for the automobile insurance policy, wherein the insurance determination is based on the insurance calculation. - View Dependent Claims (19, 20)
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Specification