System and method for categorizing driving behavior using driver mentoring and/or monitoring equipment to determine an underwriting risk

  • US 8,577,703 B2
  • Filed: 07/17/2007
  • Issued: 11/05/2013
  • Est. Priority Date: 07/17/2007
  • Status: Active Grant
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1. A method of determining a cost of automobile insurance for a selected period based upon monitoring, recording and communicating data representative of operator and vehicle driving characteristics during said period, whereby the cost is adjustable by relating the driving characteristics to predetermined safety standards, the method comprising:

  • monitoring, through electronic software operating in conjunction with electronic computer hardware, vehicle operation during a baseline period, wherein the electronic software is operable to provide feedback to a driver of a vehicle;

    disabling feedback during the baseline period;

    determining, through electronic software operating in conjunction with electronic computer hardware, a base cost of automobile insurance based at least in part on the vehicle operation during the baseline period;

    monitoring, through electronic software operating in conjunction with electronic computer hardware, vehicle operation parameters during a period after the baseline period;

    mentoring, through electronic software operating in conjunction with electronic computer hardware, the driver during operation of the vehicle based at least, in part upon at least one vehicle operation parameter exceeding threshold;

    determining a reaction of the driver in response to the mentoring;

    determining an adjustment to the base cost based at least in part upon the reaction; and

    determining, through electronic software operating in conjunction with electronic computer hardware, a final cost of automobile insurance for the period, the final cost based at least in part upon the adjustment.

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