SYSTEM AND METHOD FOR DESTINATION BASED UNDERWRITING
First Claim
1. A system for determining insurance risk associated with a vehicle, the system comprising:
- a receiver, configured to receive information associated with telematics data related to the vehicle;
a processor configured to determine, based at least in part on the telematics data, that the vehicle has reached a destination, a length of time spent at the destination and a time of day during which the vehicle is at a location;
the processor further configured to determine a direct exposure rating for the vehicle based on at least a determined destination, the length of time spent at the destination, and the time of day during which the vehicle is at the location;
the processor further configured to adjust an insurance pricing information related to the vehicle based on the direct exposure rating; and
a transmitter configured to transmit the adjusted pricing information to a user device, user transmission device or web server.
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Accused Products
Abstract
A system for determining risk associated with a driver, the system comprising a receiver, configured to receive information associated with telematics data; a processor further configured to determine, based at least in part on the telematics data, that a vehicle has reached a destination, a length of time spent at the destination and a times of day during which the vehicle is at the destination; the processor configured to determine a direct exposure rating based on at least the determined destination, the length of time spent at the destination, and the times of day during which the vehicle is at the location; the processor further configured to adjust an insurance pricing information based on the direct exposure rating; and a transmitter configured to transmit the adjusted pricing information to a user device.
195 Citations
20 Claims
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1. A system for determining insurance risk associated with a vehicle, the system comprising:
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a receiver, configured to receive information associated with telematics data related to the vehicle; a processor configured to determine, based at least in part on the telematics data, that the vehicle has reached a destination, a length of time spent at the destination and a time of day during which the vehicle is at a location; the processor further configured to determine a direct exposure rating for the vehicle based on at least a determined destination, the length of time spent at the destination, and the time of day during which the vehicle is at the location; the processor further configured to adjust an insurance pricing information related to the vehicle based on the direct exposure rating; and a transmitter configured to transmit the adjusted pricing information to a user device, user transmission device or web server. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 19, 20)
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11. A computer based method for determining insurance pricing information associated with a vehicle, the method comprising:
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receiving, by a receiver, information associated with telematics data related to the vehicle; determining, by a processor, based at least in part on the telematics data, that the vehicle has reached a destination, a length of time spent at the destination and times of day during which the vehicle is at a location; determining, by the processor, a direct exposure rating based on at least the determined destination, the length of time spent at the destination, and the times of day during which the vehicle is at the location; adjusting, by the processor, insurance pricing information associated with the vehicle based on the direct exposure rating; and transmitting, by a transmitter, the adjusted pricing information to a user device, user transmission device or web server. - View Dependent Claims (12, 13, 14, 15, 16, 17)
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18. A system for determining insurance pricing information associated with a vehicle, the system comprising:
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a receiver, configured to receive information associated with telematics data related to the vehicle; a processor configured to determine, based at least in part on the telematics data, a direct exposure rating for the vehicle based on at least the determined destination and the length of time spent at the destination; the processor further configured to determine, based at least in part on the telematics data, an indirect exposure rating for the vehicle based on at least the determined destination and the length of time spent at the destination; and the processor further configured to adjust an insurance pricing information related to the vehicle based on the direct and indirect exposure rating.
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Specification