Systems and methods for analyzing vehicle operation data to facilitate insurance policy processing

• US 8,799,036 B1
• Filed: 03/10/2014
• Issued: 08/05/2014
• Est. Priority Date: 03/10/2013
• Status: Active Grant

• Current Assignee: State Farm Mutual Automobile Insurance Company (State Farm)
• Original Assignee: State Farm Mutual Automobile Insurance Company (State Farm)
• Inventors: Gay, Christopher E., Christensen, Scott T., Hayward, Gregory, Cielocha, Steven, Binion, Todd
• Primary Examiner(s): JOHNSON, GREGORY L
• Application Number:
  US14/202,997
• Time in Patent Office: 148 Days
• Field of Search: None
• US Class Current: 705/4
• CPC Class Codes: B60C 1/00 Tyres characterised by the chemical composition or the physical arrangement or mixture of the composition
• CPC Class Codes: B60Q 1/00 Arrangement of optical signalling or lighting devices, the mounting or supporting thereof or circuits therefor for lighting vehicle interior B60Q3/00
• CPC Class Codes: B60R 25/20 Means to switch the anti-theft system on or off
• CPC Class Codes: G06Q 10/0635 Risk analysis of enterprise or organisation activities
• CPC Class Codes: G06Q 30/0207 Discounts or incentives, e.g. coupons or rebates
• CPC Class Codes: G06Q 30/0208 Trade or exchange of goods or services in exchange for incentives or rewards
• CPC Class Codes: G06Q 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes
• CPC Class Codes: G06Q 40/08 Insurance
• CPC Class Codes: G07C 5/00 Registering or indicating the working of vehicles
• CPC Class Codes: G07C 5/008 communicating information to a remotely located station transmission systems for measured values G08C
• CPC Class Codes: G08G 1/096838 where the user preferences are taken into account or the user selects one route out of a plurality
• CPC Class Codes: H04W 4/40 for vehicles, e.g. vehicle-to-pedestrians [V2P]

Abstract

Methods and systems for leveraging a plurality of sensor devices distributed in a geographical area to monitor vehicle usage for assessing, pricing, and provisioning distance-based vehicle insurance. One or more sensor devices may capture information associated with a vehicle and communicate the information to an insurance provider. In aspects, the insurance provider may analyze the information to determine a distance that the vehicle travels within a particular time period. Further, the insurance provider may determine a vehicle usage unit based on the distance traveled as well as provide various insurance coverage types to a customer associated with the vehicle. Based on a selected coverage type, the insurance provider may generate an insurance quote for a policy having an amount of the vehicle usage units and may facilitate a purchase transaction with the customer for the insurance policy.

Claims

1. A computer-implemented method of offering vehicle insurance for a vehicle, the method comprising:

receiving, within a time period, (1) a first set of usage information associated with the vehicle from a first sensor device at a first location and (2) a second set of usage information associated with the vehicle from a second sensor device at a second location;

calculating, by a processor, a distance traveled by the vehicle based on the first set of usage information and the second set of usage information;

determining, by the processor, a vehicle usage unit based on the distance traveled; and

providing, to a customer associated with the vehicle, an option to purchase an insurance policy based at least in part on the vehicle usage unit.

2. The computer-implemented method of claim 1, wherein providing the option to purchase the insurance policy comprises:

identifying at least one coverage type for the vehicle; and

communicating the at least one coverage type to the customer, wherein each of the at least one coverage type identifies a policy rate that is based at least in part on the vehicle usage unit.

3. The computer-implemented method of claim 1, wherein providing the option to purchase the insurance policy comprises:

providing the option to purchase the insurance policy to one of an existing customer or a potential customer.

4. The computer-implemented method of claim 3, further comprising:

receiving a selection of an amount of vehicle usage units from the customer, wherein each of the vehicle usage units is available for purchase at the policy rate; and

facilitating a purchase transaction with the customer for the insurance policy for the amount of the vehicle usage units.

5. The computer-implemented method of claim 1, wherein providing the option to purchase the insurance policy comprises:

identifying an existing insurance policy associated with the customer;

providing, to the customer, an option to supplement the existing insurance policy with the insurance policy based at least in part on the vehicle usage unit.

6. The computer-implemented method of claim 1, wherein receiving the first set of usage information and the second set of usage information comprises:

receiving (1) the first set of usage information at a beginning of the time period and (2) the second set of usage information at an end of the time period.

7. The computer-implemented method of claim 1, wherein receiving the first set of usage information and the second set of usage information comprises:

receiving a first image from the first sensor;

performing an optical character recognition technique on the first image to identify a license plate of the vehicle;

receiving a second image from the second sensor; and

performing the optical character recognition technique on the second image to identify the license plate.

8. The computer-implemented method of claim 1, wherein providing the option to purchase the insurance policy comprises:

providing the option to purchase the insurance policy to an electronic device associated with the customer.

9. The computer-implemented method of claim 1, wherein providing the option to purchase the insurance policy comprises:

providing the option to purchase the insurance policy to an on-board device in the vehicle.

10. The computer-implemented method of claim 1, wherein determining the vehicle usage unit comprises:

determining at least one of a distance-based vehicle usage unit that is based on the distance traveled and a time-based vehicle usage unit that is based on both the distance traveled and the time period.

11. A system for offering vehicle insurance for a vehicle, comprising:

a communication module adapted communicate data;

a memory adapted to store non-transitory computer executable instructions; and

a processor adapted to interface with the communication module, wherein the processor is configured to execute the non-transitory computer executable instructions to cause the processor to;

receive, via the communication module within a time period, (1) a first set of usage information associated with the vehicle from a first sensor device at a first location and (2) a second set of usage information associated with the vehicle from a second sensor device at a second location,

calculate a distance traveled by the vehicle based on the first set of usage information and the second set of usage information,

determine a vehicle usage unit based on the distance traveled, and

provide, to a customer associated with the vehicle via the communication module, an option to purchase an insurance policy based at least in part on the vehicle usage unit.

12. The system of claim 11, wherein to provide the option to purchase the insurance policy, the processor is configured to:

identify at least one coverage type for the vehicle, and

communicate, via the communication module, the at least one coverage type to the customer, wherein each of the at least one coverage type identifies a policy rate that is based at least in part on the vehicle usage unit.

13. The system of claim 11, wherein the customer is one of an existing customer or a potential customer.

14. The system of claim 13, wherein the processor is configured to execute the non-transitory computer executable instructions to further cause the processor to:

receive, via the communication module, a selection of an amount of vehicle usage units from the customer, wherein each of the vehicle usage units is available for purchase at the policy rate, and

facilitate a purchase transaction with the customer for the insurance policy for the amount of the vehicle usage units.

15. The system of claim 11, wherein to provide the option to purchase the insurance policy, the processor is configured to:

identify an existing insurance policy associated with the customer;

provide, to the customer via the communication module, an option to supplement the existing insurance policy with the insurance policy based at least in part on the vehicle usage unit.

16. The system of claim 11, wherein to receive the first set of usage information and the second set of usage information, the processor is configured to:

receive, via the communication module, (1) the first set of usage information at a beginning of the time period and (2) the second set of usage information at an end of the time period.

17. The system of claim 11, wherein to receive the first set of usage information and the second set of usage information, the processor is configured to:

receive, via the communication module, a first image from the first sensor,

perform an optical character recognition technique on the first image to identify a license plate of the vehicle,

receive, via the communication module, a second image from the second sensor, and

perform the optical character recognition technique on the second image to identify the license plate.

18. The system of claim 11, wherein to provide the option to purchase the insurance policy, the processor is configured to:

provide, via the communication module, the option to purchase the insurance policy to an electronic device associated with the customer.

19. The system of claim 11, wherein to provide the option to purchase the insurance policy, the processor is configured to:

provide, via the communication module, the option to purchase the insurance policy to an on-board device in the vehicle.

20. The system of claim 11, wherein to determine the vehicle usage unit, the processor is configured to:

determine at least one of a distance-based vehicle usage unit that is based on the distance traveled and a time-based vehicle usage unit that is based on both the distance traveled and the time period.