System and method to determine an initial insurance policy benefit based on telematics data collected by a smartphone

  • US 9,037,394 B2
  • Filed: 06/21/2012
  • Issued: 05/19/2015
  • Est. Priority Date: 05/22/2012
  • Status: Active Grant
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First Claim
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1. A computer system for processing telematics data, the system comprising:

  • a computer memory for storing data indicative of preliminary telematics data collected by a smartphone associated with a vehicle, the preliminary telematics data comprising at least one of geo-position information of the vehicle and vehicle kinematics data collected prior to issuance of an insurance policy for the vehicle; and

    a processor in communication with the memory, wherein the processor is configured to;

    receive, before an insurance policy for the vehicle has been issued to a driver seeking the insurance policy, the preliminary telematics data collected by the smartphone associated with the vehicle;

    calculate, based on the preliminary telematics data received from the smartphone, the initial insurance policy benefit to be applied upon issuance of the insurance policy;

    responsive to receipt of data indicative of an agreement to participate in a telematics program from a driver seeking the insurance policy for the vehicle, issue the insurance policy in accordance with the initial insurance policy benefit in exchange for receiving data indicative of actual telematics data from a data collection device in the vehicle other than the smartphone;

    receive, after the insurance policy for the vehicle has been issued to the driver seeking the insurance policy, data indicative of actual telematics data collected by the data collection device, the actual telematics data comprising at least one of geo-position information of the vehicle and vehicle kinematics data collected after the issuance of the insurance policy for the vehicle;

    determine whether the data indicative of the actual telematics data meets a pre-determined condition,responsive to a determination that the data indicative of the actual telematics data meets the pre-determined condition, compute a final insurance policy benefit based on the actual telematics data, and replace the initial insurance policy benefit with the final insurance policy benefit, andoutput an indication of the final insurance policy benefit for the insurance policy.

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