Carfax Assigned Patent

By Targeted News Service

ALEXANDRIA, Va., Aug. 30 -- Carfax, Centerville, Va.,has been assigned a patent (8,255,244) developed by five co-inventors for a "system and method for insurance underwriting and rating." The co-inventors are Richard Raines, Arlington, Va., Eric Nesson, Falls Church, Va., David Lackey, Centreville, Va., Travis Fritts, Columbia, Mo., and Ian Bush, Round Hill, Va.

The abstract of the patent published by the U.S. Patent and Trademark Office states: "An apparatus and method for underwriting and/or rating an insurance policy, and for generating information for underwriting and/or rating an insurance policy, are provided. The system and method may include identifying a vehicle, determining a value of at least one vehicle history data variable or a group of variables, and underwriting and/or rating the policy based on the value of the at least one vehicle history data variable or a group of variables. The system and method may also include generating a score based on the value of the at least one vehicle history data variable or group of variables."

The patent application was filed on July 13, 2011 (13/181,739). The full-text of the patent can be found at http://patft.uspto.gov/netacgi/nph-Parser?Sect1=PTO2&Sect2=HITOFF&p=1&u=%2Fnetahtml%2FPTO%2Fsearch-bool.html&r=1&f=G&l=50&co1=AND&d=PTXT&s1=8,255,244&OS=8,255,244&RS=8,255,244

Written by Satyaban Rath; edited by Hemanta Panigrahi.

SR0830HP0830-778599