“Personalized Insurance Systems” in Patent Application Approval Process (USPTO 20230252574): Patent Application

2023 AUG 29 (NewsRx) -- By a News Reporter-Staff News Editor at Insurance Daily News -- A patent application by the inventor Wasserman, Robert (Wheaton, IL, US), filed on October 10, 2022, was made available online on August 10, 2023, according to news reporting originating from Washington, D.C., by NewsRx correspondents.

This patent application has not been assigned to a company or institution.

The following quote was obtained by the news editors from the background information supplied by the inventors: “Vehicle insurance policies are generally purchased by insurance customers from various insurance providers. When applying for a vehicle insurance policy, a customer may provide personal and financial information, vehicle information, and anticipated usage information such as the vehicle’s primary drivers, other authorized drivers of the vehicle, and the anticipated number of miles that the vehicle will be driven during the insurance term. Based on the received information, the insurance provider may calculate policy terms, premiums, and the like.

“Many vehicles include sensors and internal computer systems designed to store and monitor driving data, vehicle operation data, driving conditions, and driving functions. Many vehicles also include one or more communication systems designed to send and receive information from inside or outside the vehicle. Such information can include, for example, vehicle operational data, driving conditions, and communications from other vehicles or systems.”

In addition to the background information obtained for this patent application, NewsRx journalists also obtained the inventor’s summary information for this patent application: “The following presents a simplified summary in order to provide a basic understanding of some aspects of the disclosure. The summary is not an extensive overview of the disclosure. It is neither intended to identify key or critical elements of the disclosure nor to delineate the scope of the disclosure. The following summary merely presents some concepts of the disclosure in a simplified form as a prelude to the description below.

“Aspects of the disclosure relate to methods, computer-readable media, and apparatuses for determining and implementing personalized vehicle insurance policies. Such policies may be driver-specific, vehicle-specific, time-specific, and/or driving trip-specific, and the insurance terms and parameters for personalized insurance policies may be determined based on risk analyses of specific drivers, vehicles, and driving trips. After determining a personalized vehicle insurance policy, the policy may be presented to and accepted by a driver, for example, via the driver’s mobile device, a vehicle-based device, or other computing devices and systems. After a personalized vehicle insurance policy has been accepted and activated, data from the driver’s mobile devices and associated vehicles may be monitored to detect and process the driver’s vehicle usage data and driving data in accordance with the personalized insurance policy.

“Additional aspects of the disclosure relate to determining and implementing different personalized insurance policies and related vehicle usage-based features. A personalized insurance system may analyze a driver’s and/or a vehicle’s potential risk data and corresponding potential losses to determine vehicle usage-based parameters. For example, a personalized insurance system may determine different sets of insurance terms or conditions and/or insurance costs for different drivers and vehicles, and for different types of vehicle usage, such as a first rate for vehicle driving and a second rate for vehicle parking. In various examples, the terms and conditions of personalized insurance may vary based on driving routes, geographic locations, driving times, weather conditions, traffic conditions, and the like. In further examples, one or more personalized insurance offers may be determined and presented to users for specific driving trips.

“Other features and advantages of the disclosure will be apparent from the additional description provided herein.”

The claims supplied by the inventors are:

“1. A method comprising: receiving, by a mobile device and from one or more sensors of a first vehicle, data identifying the first vehicle and data identifying a driver of the first vehicle; retrieving, based on the data identifying the driver of the first vehicle, driver information; retrieving, based on the data identifying the first vehicle, first vehicle information; determining driving trip information for a driving trip associated with the driver and the first vehicle, wherein the driving trip information indicates a destination comprising a first parking location for parking the vehicle during the driving trip; transmitting, to a server and via a network, a request for insurance coverage for the driving trip, the request comprising the driver information, the first vehicle information, and the driving trip information; receiving, from the server and via the network, one or more insurance offers, wherein each of the one or more insurance offers comprises an alternate parking location for parking the first vehicle during the driving trip and an insurance cost savings for parking the first vehicle at the alternate parking location, instead of the first parking location, during the driving trip; and displaying, on a display associated with the mobile device, a first insurance offer, from among the received one or more insurance offers, including at least the alternate parking location and the insurance costs savings for parking the first vehicle at the alternate parking location.”

URL and more information on this patent application, see: Wasserman, Robert. Personalized Insurance Systems. U.S. Patent Application Number 20230252574, filed October 10, 2022 and posted August 10, 2023. Patent URL (for desktop use only): https://ppubs.uspto.gov/pubwebapp/external.html?q=(20230252574)&db=US-PGPUB&type=ids

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