INSURANCE VERTICAL MARKET SPECIALIZATION
First Claim
1. A system for facilitating vertical market specialization for automobile insurance, comprising:
- a processor that executes or facilitates execution of the following computer executable components stored in memory;
a travel information component that receives real time parameters regarding driver information, automobile behavior, automobile operational condition, and route of an automobile, wherein the driver information comprises biometric feedback information collected in real-time from the driver; and
a rate receiving component that obtains in real-time one or more insurance policy premium quotes from a plurality of insurance companies based at least in part on the parameters received from the travel information component.
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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.
26 Citations
20 Claims
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1. A system for facilitating vertical market specialization for automobile insurance, comprising:
a processor that executes or facilitates execution of the following computer executable components stored in memory; a travel information component that receives real time parameters regarding driver information, automobile behavior, automobile operational condition, and route of an automobile, wherein the driver information comprises biometric feedback information collected in real-time from the driver; and a rate receiving component that obtains in real-time one or more insurance policy premium quotes from a plurality of insurance companies based at least in part on the parameters received from the travel information component. - 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 receiving real time parameters regarding driver information, automobile behavior, automobile operational condition, and route of an automobile, wherein the driver information comprises biometric feedback information collected in real-time from a driver; and receiving in real-time one or more insurance policy premium quotes from the one or more insurance companies based at least in part on the received real time parameters. - 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