Systems and methods for processing vehicle or driver performance data

  • US 8,180,655 B1
  • Filed: 09/24/2007
  • Issued: 05/15/2012
  • Est. Priority Date: 09/24/2007
  • Status: Active Grant
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First Claim
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1. A method of issuing and maintaining a dynamic vehicle insurance policy, the method comprising:

  • receiving, by a computing device having a computer processor and computer-readable code stored on a computer-readable medium and executable by the computer processor, vehicle data from a data processing module installed in a vehicle covered by the vehicle insurance policy;

    deriving, by the computing device, a premium and issuing a vehicle insurance policy for the vehicle using the vehicle data, the issued vehicle insurance policy having the derived premium;

    receiving, by the computing device, further vehicle data from the data processing module;

    deriving, by the computing device, a modified premium using the further vehicle data;

    computing, by the computing device, an arithmetical difference between the premium mid the modified premium;

    determining, by the computing device, if the arithmetical difference between the premium and the modified premium exceeds a threshold value; and

    modifying, by the computing device, the issued vehicle insurance policy to have the modified premium if the threshold value is exceeded.

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