Patent Issued for Methods and systems to automatically generate insurance policy data based upon life event data (USPTO 11120510): State Farm Mutual Automobile Insurance Company

2021 SEP 30 (NewsRx) -- By a News Reporter-Staff News Editor at Insurance Daily News -- A patent by the inventors Engelhorn, Amy (Normal, IL, US), Knarr, Kathryn E. (Bloomington, IL, US), Mitchell, Paul D. (Danvers, IL, US), filed on February 21, 2020, was published online on September 14, 2021, according to news reporting originating from Alexandria, Virginia, by NewsRx correspondents.

Patent number 11120510 is assigned to State Farm Mutual Automobile Insurance Company (Bloomington, Illinois, United States).

The following quote was obtained by the news editors from the background information supplied by the inventors: “Insurance customers may have an insurance policy, or insurance policies, that cover a wide range of items, such as vehicles, homes, life, health, etc. An associated insurance policy rate may be based upon a number of life events, such as a change in marital status of an insured customer, type of vehicle(s) owned by the insured customer, employment of the insured, employment of a spouse of an insured customer, a number of children of the insured customer, a number of vehicles owned by the insured customer, etc.

“Currently, when an insurance customer incurs a change via a life event, the insurance customer may contact an insurance agent or representative, and then the insurance agent or representative may make associated adjustments to a corresponding insurance policy. The insurance agents or representatives may rely on training, along with both written and non-written procedures, for interacting with customers, and submitting policy transactions.”

In addition to the background information obtained for this patent, NewsRx journalists also obtained the inventors’ summary information for this patent: “In one aspect, a computer implemented method for automatically generating insurance policy data may include automatically receiving, at a processor of a computing device, life event data from an electronic device, in response to the processor executing a life event data receiving module. The life event data may be representative of a life event of an insurance customer. The method may also include automatically generating, using a processor of a computing device, insurance policy data, based upon the life event data, in response to the processor executing an insurance policy data generation module. The insurance policy data may be representative of an insurance policy incorporating the life event of the insurance customer.

“In another aspect, a computer system for automatically generating insurance policy data may include a life event data receiving module stored on a memory that, when executed by a processor of a computing device, causes the processor to automatically receive life event data. The life event data may be representative of a life event of an insurance customer. The system may also include an insurance policy data generation module stored on a memory that, when executed by a processor of a computing device, causes the processor to automatically generate insurance policy data, based upon the life event data. The insurance policy data may be representative of an insurance policy incorporating at least one life event of the insurance customer.

“In another aspect, a non-transitory computer-readable medium storing instructions that, when executed by a processor of a computing device, may cause the processor to automatically generate insurance policy data and may include a life event data receiving module that, when executed by a processor of a computing device, may cause the processor to automatically receive life event data. The life event data may be representative of a life event of an insurance customer. The non-transitory computer-readable medium may also include an insurance policy data generation module that, when executed by a processor of a computing device, may cause the processor to automatically generate insurance policy data, based upon the life event data. The insurance policy data may be representative of an insurance policy incorporating at least one life event of the insurance customer.

“Advantages will become more apparent to those of ordinary skill in the art from the following description of the preferred embodiments which have been shown and described by way of illustration. As will be realized, the present embodiments may be capable of other and different embodiments, and their details are capable of modification in various respects. Accordingly, the drawings and description are to be regarded as illustrative in nature and not as restrictive.

“The Figures depict preferred embodiments for purposes of illustration only. One skilled in the art will readily recognize from the following discussion that alternative embodiments of the systems and methods illustrated herein may be employed without departing from the principles of the invention described herein.”

The claims supplied by the inventors are:

“1. A computer implemented method for automatically generating insurance policy data and for updating an insurance policy and/or providing insurance-based recommendations based on the insurance policy data, the method comprising: receive, from an insurance customer via a user interface, original insurance policy data, wherein the original insurance policy data is representative of a life status of an insurance customer when the original insurance policy data is received; automatically receiving, at a processor of a computing device, life event data from at least one data source, in response to the processor executing a life event data receiving module, wherein the life event data is representative of at least one life event of the insurance customer; automatically generating, using a processor of a computing device, changed insurance policy data, based upon a comparison of the original insurance policy data with the life event data, in response to the processor executing an insurance policy data generation module, wherein the changed insurance policy data is representative of an insurance policy incorporating options for the insurance customer; automatically generating, using a processor of an insurance customer computing device, a life event user interface on a display of the insurance customer computing device based on the changed insurance policy data, in response to the processor of the insurance customer computing device executing a life event user interface generation module, wherein the life event user interface notifies the insurance customer of the options for the insurance customer and allows the insurance customer to select at least one option; and receiving, at the processor of the insurance customer computing device, response data, wherein the response data is indicative of a selection of at least one option by the insurance customer.

“2. The method of claim 1, wherein the life event data is further representative of at least one of: a change of state of residency, a marriage, a divorce, purchase of a vehicle, sale of a vehicle, a child birth, an adoption, a change of job, a change of employer, purchase of a home, sale of a home, rental of a home, or a purchase of a personal article.

“3. The method of claim 1, wherein the insurance policy data is representative of at least one of: an insurance policies quote, insurance policy pricing, or insurance policy discounts.

“4. The method of claim 1, wherein the life event data is automatically obtained, at the processor of the computing device, from the insurance customer entering life event information via a user interface of a client device.

“5. The method of claim 1, wherein the changed insurance policy data is stored in an insurance provider data source.

“6. The method of claim 1, wherein the data source is at least one of: a bureau of motor vehicle data source, a court data source, a municipal data source, an obituary data source, an employment data source, a medical data source, or an adoption data source.

“7. A computer system for automatically generating insurance policy data and for updating an insurance policy and/or providing insurance-based recommendations based on the insurance policy data, the system comprising: an original insurance policy data receiving module stored on a memory that, when executed by a processor of a computing device, causes the processor to receive original insurance policy data from an insurance customer via a user interface, wherein the original insurance policy data is representative of a life status of an insurance customer when the original insurance policy data is receive; a life event data receiving module stored on a memory that, when executed by a processor of a computing device, causes the processor to automatically receive life event data from at least one data source, wherein the life event data is representative of at least one life event of the insurance customer; an insurance policy data generation module stored on a memory that, when executed by a processor of a computing device, causes the processor to automatically generate changed insurance policy data, based upon a comparison of the original insurance policy data with the life event data, wherein the changed insurance policy data is representative of an insurance policy incorporating options for the insurance customer; a life event user interface generation module stored on a memory that, when executed by a processor of an insurance customer computing device, causes the processor of the insurance customer computing device to automatically generate a life event user interface on a display of the insurance customer computing device based on the changed insurance policy data, wherein the life event user interface notifies the insurance customer of options for the insurance customer and allows the insurance customer to select at least one option; and an insurance customer response data receiving module stored on a memory that, when executed by the processor of the insurance customer computing device, causes the processor to receive response data, wherein the response data is indicative of a selection of at least one option by the insurance customer.

“8. The system of claim 7, further comprising: a life events user interface module stored on a memory that, when executed by a processor of a client device, causes the processor to receive the life event data.

“9. The system of claim 8, further comprising: a life events data transmission module stored on a memory that, when executed by the processor of the client device, causes the processor to automatically transmit the life event data from the processor of the client device to a remote computing device.

“10. The system of claim 9, wherein the insurance policy data generation module is stored on a memory of the remote computing device and, wherein a processor of the remote computing device, executing the insurance policy data generation module, generates the insurance policy data based upon the life event data.

“11. The system of claim 7, wherein the life event data receiving module is stored on a memory of a remote computing device and, wherein a processor of the remote computing device, executing the life event data receiving module, automatically receives the life event data from at least one of: a bureau of motor vehicle data source, a court data source, a municipal data source, an obituary data source, an employment data source, a medical data source, or an adoption data source.

“12. A non-transitory computer-readable medium storing instructions that, when executed by a processor of a computing device, cause the processor to automatically generate insurance policy data and for updating an insurance policy and/or providing insurance-based recommendations based on the insurance policy data, the non-transitory computer-readable medium comprising: an original insurance policy data receiving module that, when executed by a processor of a computing device, causes the processor to receive original insurance policy data from an insurance customer via a user interface, wherein the original insurance policy data is representative of a life status of an insurance customer when the original insurance policy data is receive; a life event data receiving module that, when executed by a processor of a computing device, causes the processor to automatically receive life event data from at least one data source, wherein the life event data is representative of at least one life event of the insurance customer; an insurance policy data generation module that, when executed by a processor of a computing device, causes the processor to automatically generate changed insurance policy data, based upon a comparison of the original insurance policy data with the life event data, wherein the changed insurance policy data is representative of an insurance policy incorporating options for the insurance customer; a life event user interface generation module that, when executed by a processor or an insurance customer computing device, causes the processor of the insurance customer computing device to automatically generate a life event user interface on a display of the insurance customer computing device based on the changed insurance policy data, wherein the life event user interface notifies the insurance customer of the options for the insurance customer and allows the insurance customer to select at least one option; and an insurance customer response data receiving module that, when executed by the processor of the insurance customer computing device, causes the processor to receive response data, wherein the response data is indicative of a selection of at least one option by the insurance customer.

“13. The non-transitory computer-readable medium of claim 12, further comprising: a life events user interface module that, when executed by a processor of a client device, causes the processor to receive the life event data.

“14. The non-transitory computer-readable medium of claim 13, further comprising: a life events data transmission module that, when executed by the processor of the client device, causes the processor to automatically transmit the life event data from the processor of the client device to a remote computing device.

“15. The non-transitory computer-readable medium of claim 14, wherein a processor of the remote computing device, executing the insurance policy data generation module, generates the insurance policy data based upon the life event data.

“16. The non-transitory computer-readable medium of claim 12, wherein a processor of a remote computing device, executing the life event data receiving module, automatically receives the life event data from at least one of: a bureau of motor vehicle data source, a court data source, a municipal data source, an obituary data source, an employment data source, a medical data source, or an adoption data source.”

There are additional claims. Please visit full patent to read further.

URL and more information on this patent, see: Engelhorn, Amy. Methods and systems to automatically generate insurance policy data based upon life event data. U.S. Patent Number 11120510, filed February 21, 2020, and published online on September 14, 2021. Patent URL: http://patft.uspto.gov/netacgi/nph-Parser?Sect1=PTO1&Sect2=HITOFF&d=PALL&p=1&u=%2Fnetahtml%2FPTO%2Fsrchnum.htm&r=1&f=G&l=50&s1=11120510.PN.&OS=PN/11120510RS=PN/11120510

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