Patent Issued for Systems and methods for generating on-demand insurance policies (USPTO 11599951): State Farm Mutual Automobile Insurance Company

2023 MAR 27 (NewsRx) -- By a News Reporter-Staff News Editor at Insurance Daily News -- A patent by the inventors Brannan, Joseph Robert (Bloomington, IL, US), Gross, Ryan Michael (Normal, IL, US), Moore, Eric R. (Heyworth, IL, US), Thoele, Jody Ann (Bloomington, IL, US), filed on December 18, 2020, was published online on March 7, 2023, according to news reporting originating from Alexandria, Virginia, by NewsRx correspondents.

Patent number 11599951 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: “The landscape of vehicle insurance coverage has been changing with the increased popularity of alternative transportation options, such as, for example, transportation network company services, public transportation, and walking. Utilizing these alternative forms of transportation to commute from place to place is becoming increasingly common. Further, users may switch from one transportation mode to another during a single trip and/or throughout the week based upon cost, available modes of transportation, time of day, day of the week, and location. Additionally, individuals generally use mobile devices (e.g., smartphones, tablets) for a variety of purposes and often carry mobile devices while traveling. Individuals may utilize mobile devices to schedule and request rides in real time with various transportation network company services.

“However, at least some known insurance policies may not adequately provide coverage for these different types of transportation options. Conventional techniques may also be inconvenient, awkward, time consuming, and/or have additional drawbacks as well”

In addition to the background information obtained for this patent, NewsRx journalists also obtained the inventors’ summary information for this patent: “The present embodiments may relate to, inter alia, systems and methods for generating dynamic and intelligent insurance offerings in real time. A computer system may be configured to recommend and/or push different modes of transportation and/or travel routes to a user based upon a risk level associated with a particular mode of transportation and/or travel route. The computer system may generate, on a trip-by-trip basis, recommendations for a particular mode of transportation and/or travel route to reduce the user’s risk, and therefore, cost. The computer system may be configured to incorporate on-demand or additional insurance offerings based upon the user’s own personal transportation options, such as, for example, a personal vehicle, scooter, and/or bike.

“In one aspect, an on-demand insurance (ODI) server for generating dynamic user offerings may be provided. The ODI server may include at least one processor and/or associated transceiver in communication with a memory device. The at least one processor and/or associated transceiver may be programmed to (i) receive, from a user computing device associated with a user, an insurance policy request for a trip from a start location to an end location. The request may include trip data and a user identifier associated with the user. The at least one processor and/or associated transceiver may also be programmed to (ii) determine at least one transportation mode available for the trip; (iii) access, from the memory device, contextual data associated with the trip; (iv) assess, based upon at least the accessed contextual data, a risk associated with the at least one transportation mode; (v) calculate, based upon the assessment, a risk score associated with the at least one transportation mode based upon at least the contextual data; (vi) generate, based upon the calculated risk score, an insurance offering associated with the at least one transportation mode; and/or (vii) transmit the insurance offering in real time to the user computing device for purchase by the user. The on-demand insurance (ODI) server may include less, additional, and/or alternative functionality, including that described elsewhere herein.

“In another aspect, a computer-implemented method for generating dynamic user offerings may be provided. The method may be implemented by an on-demand insurance (ODI) server including at least one processor and/or associated transceiver in communication with a memory device. The method may include, via the at least one processor and/or associated transceiver, (i) receiving, from a user computing device associated with a user, an insurance policy request for a trip from a start location to an end location. The request may include trip data and a user identifier associated with the user. The method may also include, via the at least one processor and/or associated transceiver, (ii) determining at least one transportation mode available for the trip; (iii) accessing, from the memory device, contextual data associated with the trip; (iv) assessing, based upon at least the accessed contextual data, a risk associated with the at least one transportation mode; (v) calculating, based upon the assessment, a risk score associated with the at least one transportation mode based upon at least the contextual data; (vi) generating, based upon the calculated risk score, an insurance offering associated with the at least one transportation mode; and/or (vii) transmitting the insurance offering in real time to the user computing device for purchase by the user. The method may include fewer, additional, and/or alternative steps, include those described elsewhere herein.

“In a further aspect, a non-transitory computer-readable storage medium having computer-executable instructions embodied thereon may be provided. When executed by an on-demand insurance (ODI) server having at least one processor in communication with at least one memory device, the computer-executable instructions may cause the at least one processor and/or associated transceiver to (i) receive, from a user computing device associated with a user, an insurance policy request for a trip from a start location to an end location. The request may include trip data and a user identifier associated with the user. The instructions may cause the at least one processor and/or associated transceiver to (ii) determine at least one transportation mode available for the trip; (iii) access, from the memory device, contextual data associated with the trip, (iv) assess, based upon at least the accessed contextual data, a risk associated with the at least one transportation mode; (v) calculate, based upon the assessment, a risk score associated with the at least one transportation mode based upon at least the contextual data; (vi) generate, based upon the calculated risk score, an insurance offering associated with the at least one transportation mode; and/or (vii) transmit the insurance offering in real time to the user computing device for purchase by the user. The computer-executable instructions may provide additional, less, and/or alternative functionality, including that described elsewhere herein.

“In yet another aspect, a computer system for providing a flex insurance policy may be provided. The computer system may include at least one processor and/or associated transceiver in communication with at least one memory device. The at least one processor and/or associated transceiver may be configured to (i) determine that a vehicle associated with a user is listed for rent on a peer-to-peer (P2P) car-sharing platform; and (ii) receive, from a computing device associated with the P2P car-sharing platform, vehicle listing information associated with the user. The vehicle listing information may include a user identifier associated with the user. The at least one processor and/or associated transceiver may also be configured to (iii) retrieve, from the memory device, a user profile associated with the user identifier. The user profile may include information associated with (a) a personal automobile insurance policy associated with the vehicle, and (b) a personal mobility policy associated with the user. The at least one processor and/or associated transceiver may also be configured to (iv) extract, from the user profile, a first identifier associated with the personal automobile insurance policy and a second identifier associated with the personal mobility policy; and/or (v) automatically transmit, to an insurance provider computing device, instructions to (a) suspend and/or otherwise adjust (such as adjust the price, limits, deductibles, and/or coverages of) the personal automobile insurance policy associated with the first identifier, and (b) activate and/or otherwise adjust (such as adjust the price, limits, deductibles, and/or coverages of) the personal mobility policy associated with the second identifier. The computer system may include less, additional, and/or alternative functionality, including that described elsewhere herein.”

The claims supplied by the inventors are:

“1. An on-demand insurance (ODI) server for generating dynamic user offerings, the ODI server comprising at least one processor in communication with a memory device, the at least one processor programmed to: generate a user profile associated with a user by processing telematics data received from a user computing device associated with the user; receive, from the user computing device, an insurance policy request for a trip from a start location to an end location, the request including trip data and a user identifier associated with the user; determine at least one transportation mode available for the trip based upon the request; receive real-time contextual data associated with the trip and the user profile; determine, based upon at least the real-time contextual data and the user profile, at least one risk associated with use of the at least one transportation mode by the user during the trip; calculate, based upon the at least one risk, a risk score associated with the use of the at least one transportation mode; generate, based upon the calculated risk score, an insurance offering associated with the use of the at least one transportation mode; and transmit the insurance offering in real time to the user computing device for purchase by the user.

“2. The ODI server of claim 1, wherein the real-time contextual data includes at least one of weather data, age of the user, data associated with the start location, and data associated with the end location.

“3. The ODI server of claim 1, wherein the at least one transportation mode is one of a ride-sharing service and public transportation.

“4. The ODI server of claim 1, wherein the at least one processor is further programmed to calculate the risk score by: retrieving, from the memory device using the user identifier, the user profile associated with the user; accessing, from the retrieved user profile, user preference data and historical insurance purchase data; and assessing the risk associated with the at least one transportation mode by analyzing the real-time contextual data, the user preference data, and the historical insurance purchase data.

“5. The ODI server of claim 1, wherein the insurance offering includes a price associated with the insurance offering, the price associated with the calculated risk score.

“6. The ODI server of claim 1, wherein the at least one processor is further programmed to: determine a plurality of transportation modes available for the trip by accessing transportation data associated with the trip; calculate a plurality of risk scores, each calculated for each of the plurality of transportation modes; compare the calculated risk scores to one another; rank, based upon the comparison, the plurality of transportation modes based upon the calculated risk scores; generate, based upon an associated rank, a plurality of insurance offerings, each generated for each of the plurality of transportation modes, wherein each insurance offering includes a price corresponding to the associated rank; and transmit the plurality of insurance offerings to the user computing device for selection by the user.

“7. The ODI server of claim 1, wherein the at least one processor is further programmed to: determine a plurality of travel routes available for the trip by accessing transportation data associated with the trip; calculate a plurality of risk scores, each calculated for each of the plurality of travel routes; compare the calculated risk scores to one another; rank, based upon the comparison, the plurality of travel routes based upon the calculated risk scores; generate, based upon an associated rank, a plurality of insurance offerings, each generated for each of the plurality of travel routes, wherein each insurance offering includes a price corresponding to the associated rank; and transmit the plurality of insurance offerings to the user computing device for selection by the user.

“8. The ODI server of claim 1, wherein the at least one processor is further programmed to provide a discount associated with the insurance offering when the risk score indicates that the at least one transportation mode is associated with a low level of risk to the user.

“9. The ODI server of claim 1, wherein the at least one transportation mode is a ride via a bicycle from the start location to the end location, and wherein the at least one processor is further programmed to: access, from the memory device, bicycle data, the bicycle data including a make and model of the bicycle to be utilized for the trip by the user; generate, based upon the accessed bicycle data and the real-time contextual data, a bicycle insurance offering associated with the bicycle; and transmit the bicycle insurance offering to the user computing device for purchase by the user.

“10. The ODI server of claim 1, wherein the at least one processor is further programmed to generate an interactive user interface configured to provide a gamification opportunity to the user to encourage the user to utilize less risky forms of transportation modes.

“11. The ODI server of claim 10, wherein the gamification opportunity is a weekly challenge associated with a plurality of eligibility conditions for one or more incentives.

“12. A computer-implemented method for generating dynamic user offerings, the method implemented by an on-demand insurance (ODI) server including at least one processor in communication with a memory device, the method comprising: generating a user profile associated with a user by processing telematics data received from a user computing device associated with the user; receiving, from the user computing device, an insurance policy request for a trip from a start location to an end location, the request including trip data and a user identifier associated with the user; determining at least one transportation mode available for the trip based upon the request; receiving real-time contextual data associated with the trip and the user profile; determining, based upon at least the real-time contextual data and the user profile, at least one risk associated with use of the at least one transportation mode by the user during the trip; calculating, based upon the at least one risk, a risk score associated with the use of the at least one transportation mode; generating, based upon the calculated risk score, an insurance offering associated with the use of the at least one transportation mode; and transmitting the insurance offering in real time to the user computing device for purchase by the user.

“13. The computer-implemented method of claim 12, wherein the real-time contextual data includes at least one of weather data, age of the user, data associated with the start location, and data associated with the end location.

“14. The computer-implemented method of claim 12, wherein the at least one transportation mode is one of a ride-sharing service and public transportation.

“15. The computer-implemented method of claim 12, wherein calculating the risk score comprises: retrieving, from the memory device using the user identifier, the user profile associated with the user; accessing, from the retrieved user profile, user preference data and historical insurance purchase data; and assessing the risk associated with the at least one transportation mode by analyzing the real-time contextual data, the user preference data, and the historical insurance purchase data.

“16. The computer-implemented method of claim 12, wherein the insurance offering includes a price associated with the insurance offering, the price associated with the calculated risk score.

“17. The computer-implemented method of claim 12, further comprising: determining a plurality of transportation modes available for the trip by accessing transportation data associated with the trip; calculating a plurality of risk scores, each calculated for each of the plurality of transportation modes; comparing the calculated risk scores to one another; ranking, based upon the comparison, the plurality of transportation modes based upon the calculated risk scores; generating, based upon an associated rank, a plurality of insurance offerings, each generated for each of the plurality of transportation modes, wherein each insurance offering includes a price corresponding to the associated rank; and transmitting the plurality of insurance offerings to the user computing device for selection by the user.

“18. The computer-implemented method of claim 12, further comprising: determining a plurality of travel routes available for the trip by accessing transportation data associated with the trip; calculating a plurality of risk scores, each calculated for each of the plurality of travel routes; comparing the calculated risk scores to one another; ranking, based upon the comparison, the plurality of travel routes based upon the calculated risk scores; generating, based upon an associated rank, a plurality of insurance offerings, each generated for each of the plurality of travel routes, wherein each insurance offering includes a price corresponding to the associated rank; and transmitting the plurality of insurance offerings to the user computing device for selection by the user.

“19. The computer-implemented method of claim 12, further comprising providing a discount associated with the insurance offering when the risk score indicates that the at least one transportation mode is associated with a low level of risk to the user.”

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

URL and more information on this patent, see: Brannan, Joseph Robert. Systems and methods for generating on-demand insurance policies. U.S. Patent Number 11599951, filed December 18, 2020, and published online on March 7, 2023. Patent URL (for desktop use only): https://ppubs.uspto.gov/pubwebapp/external.html?q=(11599951)&db=USPAT&type=ids

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