Patent Issued for Systems and methods for adjusting premium rate based on usage (USPTO 11403714): United Services Automobile Association

2022 AUG 24 (NewsRx) -- By a News Reporter-Staff News Editor at Insurance Daily News -- From Alexandria, Virginia, NewsRx journalists report that a patent by the inventors Gravely, Jennifer Lynne (San Antonio, TX, US), Gregorio, Igor Alexandre (San Antonio, TX, US), Medeiros, Mark (Boerne, TX, US), Montemayor, Veronica (San Antonio, TX, US), Ortiz, Eric John (San Antonio, TX, US), Sanzzi, Fernando (San Antonio, TX, US), Sargent, Earl (San Antonio, TX, US), filed on September 23, 2020, was published online on August 2, 2022.

The patent’s assignee for patent number 11403714 is United Services Automobile Association (San Antonio, Texas, United States).

News editors obtained the following quote from the background information supplied by the inventors: “The present disclosure relates generally to systems and methods for generating insurance premium rates. It is now recognized that improved techniques are desirable for providing personal variable insurance premium rates.”

As a supplement to the background information on this patent, NewsRx correspondents also obtained the inventors’ summary information for this patent: “A summary of certain embodiments disclosed herein is set forth below. It should be understood that these aspects are presented merely to provide the reader with a brief summary of these certain embodiments and that these aspects are not intended to limit the scope of this disclosure. Indeed, this disclosure may encompass a variety of aspects that may not be set forth below.

“In one embodiment, a system includes a vehicle system including one or more sensors that to monitor one or more properties related to an operation of a vehicle. The system also includes a processor that receives expected vehicle usage information from an applicant, a database, publicly available sources, or the like and receives a first set of data including the one or more properties from the vehicle system. The first set of data is associated with the expected vehicle usage information. The processor may then determine a premium base rate based at least in part on the first set of data and a risk associated with the applicant and determine a vehicle rate based at least in part of the first set of data and a risk associated with the vehicle. The processor may then display a first visualization including the premium base rate and the vehicle rate on a display.

“In another embodiment, a method includes receiving, via a processor, expected vehicle usage information from an applicant, a database, publicly available sources, or the like. The method may then involve receiving, via the processor, a first set of data including one or more properties related to an operation of a vehicle from a vehicle system of a vehicle, such that the first set of data is associated with the expected vehicle usage information. The method may also involve determining, via the processor, a premium base rate based at least in part on the first set of data and a risk associated with the applicant and a vehicle rate based at least in part on the first set of data and a risk associated with the vehicle. The method may then include displaying a first visualization including the premium base rate and the vehicle rate via a display.

“In another embodiment, a system may include a vehicle system having data related to one or more properties of a vehicle. The one or more properties may include a vehicle type, a vehicle make, a vehicle model, an amount of miles driven, a location of travel, and a frequency of travel of a vehicle. The system also includes a processor that receives expected vehicle usage information from an applicant, a database, publicly available sources, or the like. The processor may receive a first set of data including the one or more properties, such that the first set of data is associated with the expected vehicle usage information. The processor may then determine a premium base rate based at least in part on the expected vehicle usage information and the first set of data and determine a vehicle rate based at least in part on the expected vehicle usage information and the first set of data. The vehicle rate may include a vehicle base rate and a vehicle per mile rate. The processor may then display a first visualization including the premium base rate and the vehicle rate on a display. The processor may also receive a second set of data after the first set of data is received, such that the second set of data includes an updated amount of miles driven by the vehicle. The processor may then determine an invoice for a billing period based on the premium base rate, the vehicle rate, and the second set of data, and display a second visualization including the invoice via the display.

“Various refinements of the features noted above may exist in relation to various aspects of the present disclosure. Further features may also be incorporated in these various aspects as well. These refinements and additional features may exist individually or in any combination. For instance, various features discussed below in relation to one or more of the illustrated embodiments may be incorporated into any of the above-described aspects of the present disclosure alone or in any combination. The brief summary presented above is intended only to familiarize the reader with certain aspects and contexts of embodiments of the present disclosure without limitation to the claimed subject matter.”

The claims supplied by the inventors are:

“1. A system comprising: a mobile device comprising one or more sensors configured to monitor one or more properties related to one or more operations of a vehicle; and a processor configured to: receive a first driving behavior score, wherein the first driving behavior score is associated with an applicant and corresponds to a first driving behavior data of the applicant, wherein the first driving behavior data was acquired over a first period of time; receive a set of data comprising the one or more properties from the mobile device, wherein the set of data is indicative of a second driving behavior data of the applicant acquired over a second period of time; determine if the second driving behavior data of the applicant corresponds to the first driving behavior score; and in response to determining that the second driving behavior data of the applicant corresponds to the first driving behavior score: determine that a renewal period for a premium rate for the applicant is within a threshold amount of time, wherein the premium rate comprises a fixed base rate and a vehicle rate, wherein the fixed base rate is determined based on a risk value associated with the first driving behavior data, and wherein the vehicle rate comprises a fixed vehicle base rate and a vehicle per mile rate; lock the first driving behavior score as a driving behavior score to be used to determine a premium rate discount; determine a premium rate discount based on the first driving behavior score, wherein the premium rate discount is configured to discount a portion of the premium rate for the applicant; and send a notification configured to cause display of a visualization comprising the premium rate discount and the premium rate on a display coupled to the vehicle.

“2. The system of claim 1, comprising one or more sensors configured to monitor one or more additional properties related to the operation of the vehicle, and wherein the processor is configured to receive an additional set of data comprising the one or more properties from the one or more sensors.

“3. The system of claim 2, wherein the additional set of data is indicative of mileage of the vehicle, frequency of travel of the vehicle, or location of travel of the vehicle, or a combination thereof.

“4. The system of claim 3, wherein the processor is configured to determine an invoice for a billing period based on the first driving behavior score and the premium rate discount, wherein the invoice comprises the premium rate, and wherein the set of data comprises an amount of miles driven for the billing period.

“5. The system of claim 4, wherein the processor is configured to display a second visualization comprising the invoice via the display, wherein the second visualization comprises the set of data displayed as a bar graph, and wherein the bar graph comprises the amount of miles driven for a current billing period and one or more previous billing periods.

“6. The system of claim 1, wherein the one or more properties are related to usage of the mobile device during the operation of the vehicle.

“7. The system of claim 1, wherein the premium rate discount is a percentage between 0%-25%.

“8. The system of claim 1, wherein the second driving behavior data includes data indicative of movement of the mobile device, quantity of phone calls using the mobile device, length of phone calls using a hands-free mode, or braking of the vehicle, or a combination thereof.

“9. The system of claim 1, wherein the mobile device comprises an accelerometer.

“10. The system of claim 1, wherein the processor is configured to: in response to determining that the second driving behavior data of the applicant corresponds to the second driving behavior score: assign the second driving behavior score to the applicant; determine that the renewal period for the premium rate for the applicant is within the threshold amount of time; lock the second driving behavior score as the driving behavior score to be used to determine the premium rate discount; determine a second premium rate discount based on the second driving behavior score; and send a second notification configured to cause display of an additional visualization comprising the second premium rate discount on the display.

“11. A method performed by a processor, the method comprising: receiving a first driving behavior score, wherein the first driving behavior score is associated with an applicant and corresponds to a first driving behavior data of the applicant acquired over a first period of time, wherein the first driving behavior data is acquired over a first period of time; receiving a set of data comprising one or more properties related to one or more operations of a vehicle from a mobile device comprising one or more sensors configured to monitor the one or more properties in the vehicle, wherein the set of data is indicative of a second driving behavior data of the applicant acquired over a second period of time; determining if the second driving behavior data of the applicant corresponds to first driving behavior score; and in response to determining that the second driving behavior data of the applicant corresponds to first driving behavior score: determining that a renewal period for a premium rate for the applicant is within a threshold amount of time, wherein the premium rate comprises a fixed base rate and a vehicle rate, wherein the fixed base rate is determined based on a risk value associated with the first driving behavior data, and wherein the vehicle rate comprises a fixed vehicle base rate and a vehicle per mile rate; locking the first driving behavior score as a driving behavior score to be used to determine a premium rate discount; determining a premium rate discount based on the first driving behavior score, wherein the premium rate discount is configured to discount a portion of the premium rate for the applicant; and sending a notification configured to cause display of a visualization comprising the premium rate discount and the premium rate on a display coupled to the vehicle.

“12. The method of claim 11, comprising: receiving an additional set of data from one or more sensors of a vehicle system, wherein the one or more sensors are configured to monitor one or more additional properties related to the operation of the vehicle.

“13. The method of claim 12, comprising: determining an invoice for a billing period based on the first driving behavior score and the premium rate discount, wherein the invoice comprises the premium rate, and wherein the additional set of data comprises an amount of miles driven for the billing period.

“14. The method of claim 13, comprising: sending a second notification configured to cause display of a second visualization comprising the invoice on the display, wherein the second visualization comprises the set of data displayed as a bar graph, wherein the bar graph comprises the amount of miles driven for a current billing period and one or more previous billing periods; and updating the second visualization in real-time.”

For additional information on this patent, see: Gravely, Jennifer Lynne. Systems and methods for adjusting premium rate based on usage. U.S. Patent Number 11403714, filed September 23, 2020, and published online on August 2, 2022. 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=11403714.PN.&OS=PN/11403714RS=PN/11403714

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