Systems and methods for processing vehicle or driver performance data

  • US 8,566,126 B1
  • Filed: 09/24/2007
  • Issued: 10/22/2013
  • Est. Priority Date: 09/24/2007
  • Status: Active Grant
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First Claim
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1. A method of processing data received from a vehicle covered by a 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, behavior data from a data processing module installed in the vehicle, wherein the behavior data is a measure of driving behavior of one or more drivers operating the vehicle and is derived by the data processing module from vehicle performance data for the vehicle acquired by the data processing module;

    calculating, by the computing device, at least one insurance risk for the vehicle using the behavior data; and

    determining, by the computing device, a premium for the vehicle insurance policy for the vehicle using the at least one insurance risk;

    issuing, by the computing device, the vehicle insurance policy for the vehicle, the issued vehicle insurance policy having the premium;

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

    calculating, by the computing device, at least one insurance risk for the vehicle using the further behavior data;

    determining, by the computing device, a modified premium for the vehicle insurance policy for the vehicle using the at least one insurance risk calculated using the further behavior data;

    determining, by the computing device, if a threshold change between the premium and the modified premium is exceeded; and

    modifying, by the computing device, only if it is determined the threshold change is exceeded, the issued vehicle insurance policy to have the modified premium.

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