Patent Issued for Systems and methods for generating mobility insurance products using ride-sharing telematics data (USPTO 11544791): State Farm Mutual Automobile Insurance Company
2023 JAN 25 (NewsRx) -- By a
The assignee for this patent, patent number 11544791, is
Reporters obtained the following quote from the background information supplied by the inventors: “Transportation network companies (“TNC”), such as
“Ride-sharing systems may use dynamic pricing models based upon passenger demand and the current supply of vehicles and drivers to determine a market rate. A higher price may be used to encourage drivers to offer rides during high demand or “peak” times when passenger demand is high and low driver supply occurs. By allowing drivers the ability to easily offer or discontinue transportation services, the demand for transportation may be more efficiently met by automatically adjusting the total number of vehicles in operation according to the number of passengers seeking transportation. Prices for transportation services using a flexible model may therefore be lower than if a fixed fleet of vehicles and drivers were deployed.
“Independent operators driving for a TNC may be incentivized to offer services to riders through a number of benefits offered by the TNC including flexible scheduling, freedom from substantial oversight, and potential for significant compensation in highly trafficked areas. However, these incentives may not be sufficient to motivate an adequate number of drivers.
“Drivers face a number of other difficulties that may deter offering transportation services. For example, driving during peak times may be extremely stressful when dealing with congested traffic conditions. In addition, offering driving services during peak times may also increase the possibility of accidents. Operating a vehicle in highly trafficked areas may also incur added maintenance costs further deterring drivers from offering such transportation services. Enhancing peace of mind and/or providing additional incentives may be desirable to encourage independent operators to offer these TNC transportation services.”
In addition to obtaining background information on this patent, NewsRx editors also obtained the inventors’ summary information for this patent: “The present embodiments may relate to systems and methods for enhancing dynamic allocation of transportation services by improving ease of access to personalized insurance protection and rewards-based instruments. The system may include a personalized insurance (“PI”) computing device in communication with one or more transportation network companies (“TNC”), one or more financial service providers, one or more user computing devices, and/or one or more databases.
“In one aspect, a personalized insurance (“PI”) computing device may be provided. The PI computing device may be configured to determine an optimal usage-based insurance (“UBI”) product for a driver operating a vehicle for a transportation network company (“TNC”) during a period of increased demand for transportation services. The PI computing device may have at least one processor (and/or associated transceiver) in communication with at least one memory. The processor and/or associated transceiver may be configured to receive, from the TNC, data indicating the increased demand for transportation services. The processor may further be configured to retrieve driver data for a driver operating a vehicle for the transportation network company, wherein the driver data includes at least the driver history. The processor may be further configured to generate an optimal pricing model for the driver based upon the increased demand and the driver data. The processor may be further configured to execute the model to determine an optimal insurance product, where the optimal insurance product includes characteristics reflecting at least one risk factor associated with the increased demand for transportation services and a risk profile determined from analyzing the driver data. The processor and/or associated transceiver may be further configured to transmit, to a user computing device, an offer, to the driver, to provide transportation services at an increased earnings rate and with the determined optimal insurance product. The PI computing device may be configured to perform additional, less, or alternate functionality, including that discussed elsewhere herein.
“In another aspect, a computer-implemented method for determining an optimal usage-based insurance (“UBI”) product for a driver operating a vehicle for a transportation network company (“TNC”) during a period of increased demand for transportation services using a personal insurance (“PI”) computing device may be provided. The PI computing device may have at least one processor (and/or associated transceiver) in communication with at least one memory. The method may include receiving, via the processor and/or associated transceiver (such as via wireless communication or data transmission over one or more radio frequency links), data from the TNC indicating an increased demand for transportation services. The method may further include retrieving, via the processor, driver data for a driver operating a vehicle for the TNC, where the driver data includes at least the driver history. The method may further include generating, via the processor, an optimal pricing model for the driver based upon the increased demand and the driver data. The method may further include executing, via the processor, the model to determine an optimal insurance product, where the optimal insurance product includes characteristics reflecting at least one risk factor associated with the increased demand for transportation services and a risk profile determined from analyzing the driver data. The method may further include transmitting, via the processor and/or transceiver (such as via wireless communication or data transmission over one or more radio frequency links), to a user computing device, an offer, to the driver, to provide transportation services at an increased earnings rate and with the determined optimal insurance product. The method may include additional, less, or alternate functionality, including that discussed elsewhere herein.
“In another aspect, a non-transitory computer-readable storage media having computer-executable instructions embodied thereon may be provided. When the computer-executable instructions are executed by a personalized insurance (“PI”) computing device having at least one processor (and/or associated transceiver) in communication with at least one memory, the computer-executable instructions may cause the at least one processor and/or associated transceiver to receive, from a transportation network company (“TNC”), data indicating an increased demand for transportation services. The computer-executable instructions may also cause the at least one processor to retrieve driver data for a driver operating a vehicle for the TNC, where the driver data includes at least the driver history. The computer-executable instructions may further cause the at least one processor to generate an optimal pricing model for the driver based upon the increased demand and the driver data. The computer-executable instructions may also cause the at least one processor to execute the model to determine an optimal insurance product where the optimal insurance product includes characteristics reflecting at least one risk factor associated with the increased demand for transportation services and a risk profile determined from analyzing the driver data. The computer-executable instructions may further cause the at least one processor and/or associated transceiver to transmit, to a user computing device, an offer, to the driver, to provide transportation services at an increased earnings rate and with the determined optimal insurance product. The instructions may direct additional, less, or alternate functionality, including that discussed elsewhere herein.
“In yet another aspect, a personalized insurance (“PI”) computing device for facilitating automatic insurance payments through a hybrid savings account (“HSA”) associated with a driver operating a vehicle for a transportation network company (“TNC”) may be provided. The PI computing device may have at least one processor (and/or associated transceiver) in communication with at least one memory. The processor and/or associated transceiver may be configured to receive, from the TNC, funds earned by a driver operating the vehicle for the TNC. The processor and/or associated transceiver may also be configured to transmit the funds to a financial institution to be deposited into the HSA associated with the driver. The processor and/or associated transceiver may be further configured to receive, from a user computing device associated with the driver, a signal indicating (i) initiation of a ride for a passenger, and (ii) a request for insurance coverage for the ride. The processor and/or associated transceiver may also be configured to transfer, from the HSA to an insurance provider, payment for the requested insurance coverage. The PI computing device may be configured to perform additional, less, or alternate functionality, including that discussed elsewhere herein.”
The claims supplied by the inventors are:
“1. A personalized insurance (“PI”) computing device for generating an incentive for a driver operating a vehicle for a transportation network company, the PI computing device having a processor in communication with at least one memory, the processor configured to: receive, from a maintenance network by executing a communications component of the PI computing device, maintenance data for the vehicle associated with the driver; analyze, by executing a modeling component of the PI computing device, the maintenance data to determine a level of maintenance of the vehicle; determine whether the vehicle is well-maintained based upon the level of maintenance; generate, by executing a telematics analysis component of the PI computing device and using telematics data associated with the vehicle, a driving score for each trip driven by the driver; compare the driving score for each trip to a predetermined threshold to determine whether the driver is eligible for a reward, the predetermined threshold determined based upon environmental data and aggregated driver data associated with driving history of a plurality of drivers driving in an area where each trip occurred; and in response to determining that the vehicle is well-maintained and the driver is eligible for the reward, generate, by executing a rewards component of the PI computing device, the reward for the driver, the reward including a monetary amount to be paid to the driver or to be discounted to the driver from a service provider providing a service to the driver.
“2. The PI computing device of claim 1, wherein the processor is further configured to: receive and analyze the telematics data to generate the driving score for the driver; and determine that the driver is eligible for the reward based upon the driving score exceeding the predetermined threshold.
“3. The PI computing device of claim 1, wherein the PI computing device is in communication with a financial institution configured to operate a vehicle replacement savings account, and wherein the processor is further configured to transmit the reward to the financial institution for deposit into the vehicle replacement savings account.
“4. The PI computing device of claim 1, wherein the generated reward is a discount for maintenance services, and wherein the reward is transmitted to the maintenance network for redemption by the driver.
“5. The PI computing device of claim 1, wherein the maintenance data received from the maintenance network is one of a periodic and continuous stream of updates indicating maintenance activities performed on the vehicle.
“6. The PI computing device of claim 1, wherein the processor is further configured to: receive a payment from a passenger for a completed ride; deduct the reward from the payment; and transmit the payment after deducting the reward to the transportation network company.
“7. The PI computing device of claim 1, wherein the processor is further configured to: retrieve driver data for the driver; retrieve, from the transportation network company, data indicating a level of demand for transportation services; and generate the reward further based on analyzing the retrieved driver data and the retrieved data indicating the level of demand.
“8. A computer-implemented method for generating an incentive for a driver operating a vehicle for a transportation network company using a personalized insurance (“PI”) computing device, the PI computing device having at least one processor in communication with at least one memory, the method comprising: receiving, by a communications component of the PI computing device and from a maintenance network, maintenance data for the vehicle associated with the driver; analyzing, by a modeling component of the PI computing device, the maintenance data to determine a level of maintenance of the vehicle; determining whether the vehicle is well-maintained based upon the level of maintenance; generating, by a telematics analysis component of the PI computing device and using telematics data associated with the vehicle, a driving score for each trip driven by the driver; comparing the driving score for each trip to a predetermined threshold to determine whether the driver is eligible for a reward, the predetermined threshold determined based upon environmental data and aggregated driver data associated with driving history of a plurality of drivers driving in an area where each trip occurred; and in response to determining that the vehicle is well-maintained and the driver is eligible for the reward, generating, by a rewards component of the PI computing device, the reward for the driver, the reward including a monetary amount to be paid to the driver or to be discounted to the driver from a service provider providing a service to the driver.
“9. The computer-implemented method of claim 8, the method further comprising: receiving and analyze the telematics data to generate the driving score for the driver; and determining that the driver is eligible for the reward based upon the driving score exceeding the predetermined threshold.
“10. The computer-implemented method of claim 8, wherein the PI computing device is in communication with a financial institution configured to operate a vehicle replacement savings account, the method further comprising transmitting the reward to the financial institution for deposit into the vehicle replacement savings account.
“11. The computer-implemented method of claim 8, wherein the generated reward is a discount for maintenance services, and wherein the reward is transmitted to the maintenance network for redemption by the driver.
“12. The computer-implemented method of claim 8, wherein the maintenance data received from the maintenance network is one of a periodic and continuous stream of updates indicating maintenance activities performed on the vehicle.
“13. The computer-implemented method of claim 8, the method further comprising: receiving a payment from a passenger for a completed ride; deducting the reward from the payment; and transmitting the payment after deducting the reward to the transportation network company.
“14. The computer-implemented method of claim 8, the method further comprising: retrieving driver data for the driver; retrieving, from the transportation network company, data indicating a level of demand for transportation services; and generating the reward further based on analyzing the retrieved driver data and the retrieved data indicating the level of demand.
“15. One or more non-transitory computer-readable storage media having computer-executable instructions embodied thereon, when executed by a personalized insurance (“PI”) computing device having at least one processor in communication with at least one memory, the computer-executable instructions causing the at least one processor to: receive, from a maintenance network by executing a communications component of the PI computing device, maintenance data for a vehicle associated with a driver driving the vehicle for a transportation network company (“TNC”); analyze, by executing a modeling component of the PI computing device, the maintenance data to determine a level of maintenance of the vehicle; determine whether the vehicle is well-maintained based upon the level of maintenance; generate, by executing a telematics analysis component of the PI computing device and using telematics data associated with the vehicle, a driving score for each trip driven by the driver; compare the driving score for each trip to a predetermined threshold to determine whether the driver is eligible for a reward, the predetermined threshold determined based upon environmental data and aggregated driver data associated with driving history of a plurality of drivers driving in an area where each trip occurred; and in response to determining that the vehicle is well-maintained and the driver is eligible for the reward, generate, by executing a rewards component of the PI computing device, the reward for the driver, the reward including a monetary amount to be paid to the driver or to be discounted to the driver from a service provider providing a service to the driver.
“16. The non-transitory computer-readable storage media of claim 15, wherein the computer-executable instructions further cause the at least one processor to: receive and analyze the telematics data to generate the driving score for the driver; and determine that the driver is eligible for the reward based upon the driving score exceeding the predetermined threshold.
“17. The non-transitory computer-readable storage media of claim 15, wherein the PI computing device is in communication with a financial institution configured to operate a vehicle replacement savings account, and wherein the computer-executable instructions further cause the at least one processor to transmit the reward to the financial institution for deposit into the vehicle replacement savings account.
“18. The non-transitory computer-readable storage media of claim 15, wherein the computer-executable instructions further cause the at least one processor to: receive a payment from a passenger for a completed ride; deduct the reward from the payment; and transmit the payment after deducting the reward to the transportation network company.
“19. The non-transitory computer-readable storage media of claim 15, wherein the computer-executable instructions further cause the at least one processor to: retrieve driver data for the driver; retrieve, from the transportation network company, data indicating a level of demand for transportation services; and generate the reward further based on analyzing the retrieved driver data and the retrieved data indicating the level of demand.”
There are additional claims. Please visit full patent to read further.
For more information, see this patent: Brannan,
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