By a News Reporter-Staff News Editor at Politics & Government Week -- From Washington, D.C., VerticalNews journalists report that a patent application by the inventors HUANG, He Yuan (Beijing, CN); DUAN, Ning (Beijing, CN); WANG, Zhi Hu (Beijing, CN); LI, Kai (Shanghai, CN), filed on October 15, 2015, was made available online on April 27, 2017.

No assignee for this patent application has been made.

News editors obtained the following quote from the background information supplied by the inventors: "The present invention relates to detecting fraud, and more specifically, to detecting fraud in the usage-based automotive insurance model by using contextual data to check on a driver's representations for user-based coverage.

"Usage-Based Insurance (UBI), also known as Pay As You Drive (PAYD) and Pay How You Drive (PHYD) and Mile-Based Auto Insurance (MBAI), is a type of vehicle insurance in which the cost is dependent upon such parameters as the type of vehicle used, time, place, distance of travel, and driving behavior. The simplest form of the UBI model bases the insurance cost simply on number of miles driven, but the UBI model also includes other schemes in which coverage is based on additional data collected from the vehicle, including, for example, information on speed, time of day, historic riskiness of the road, and driving actions, as well as the distance or time travelled.

"In more sophisticated versions of the UBI model vehicle data is transmitted to an insurance processing center (e.g., telematic usage-based insurance), using an on-board telematic device connected, for example, to the vehicle's OnBoard Diagnostic (OBD-II) port, which has been available on automobiles built after 1996. At least one insurance carrier has experimented under the UBI model with using an app on the user's smart phone for transmitting vehicular data to the insurance company's processing center. Another carrier uses the transmission capabilities available to OnStar subscribers.

"FIG. 1 shows automobile/driver 102 transmitting trip data under the UBI model to insurance processing center 104 via telematic device 106. The precise mechanism and path for transmitting the trip data to the insurance processing center is not important in the context of the present invention, since various mechanisms could be used, such as a mobile communication network, a satellite network, or direct sight networks that possibly interface with the Internet or similar known transmission mechanisms. Additionally, the present invention could be wholly or partially implemented as a cloud service.

"The present inventors have recognized that, to get a lower insurance fee, a driver may have a motivation to provide faked data using various possible tools/techniques. For example, a fraudster might use a tool that has been pre-set with trip data intended to demonstrate good driving behavior. When driving, the tool would randomly send the pre-set faked trip to the insurance processing center. The overall profiling of the driver's driving behavior would thereby appear to be very good, and he or she could continue to get a significant discount on the insurance fee.

"Fraud detection has been used in banking and insurance industries. Banking fraud is typically about transactions, and insurance fraud is typically about claims. However, this potential fraud in the UBI model is about fraudulently obtaining lower insurance fees, and the context of this type of fraud is very different from that of banking or insurance fraud. Moreover, the data analyzing the UBI context is geospatial data, which is very different from the data analyzed in conventional banking/insurance fraud detection scenarios.

"Also, since UBI is itself a relatively new business model, new fraud techniques can be expected to evolve and new fraud detection techniques would need to evolve to address future potential fraud in the UBI insurance model. Thus, the present invention can be viewed as representing a technical solution to a technical problem that was not previously recognized in this recent technology-based UBI model."

As a supplement to the background information on this patent application, VerticalNews correspondents also obtained the inventors' summary information for this patent application: "According to an embodiment of the present invention, a fraud detection technique uses contextual data associated with trip data reports as basis for a reality check of the received trip report data from specific drivers, in view of potential fraud.

"In an exemplary embodiment, the reported driving conduct of specific drivers under tough contextual conditions is compared with statistical norms of other drivers under similar tough contextual conditions, with fraud being considered as possible if the specific driver's data in tough conditions indicate driving conduct significantly better than the statistical norms.

"When such better driving conduct is detected, the driver can be identified in an output display format to insurance investigators to permit more specific evaluation, investigation, and possible action."

For additional information on this patent application, see: HUANG, He Yuan; DUAN, Ning; WANG, Zhi Hu; LI, Kai. Method and System to Determine Auto Insurance Risk. Filed October 15, 2015 and posted April 27, 2017. Patent URL: http://appft.uspto.gov/netacgi/nph-Parser?Sect1=PTO1&Sect2=HITOFF&d=PG01&p=1&u=%2Fnetahtml%2FPTO%2Fsrchnum.html&r=1&f=G&l=50&s1=%2220170109827%22.PGNR.&OS=DN/20170109827&RS=DN/20170109827

Keywords for this news article include: Patents, Legal Issues.

Our reports deliver fact-based news of research and discoveries from around the world. Copyright 2017, NewsRx LLC

Launch coincides with Bitcoin's 17^th anniversary and the second anniversary of IBIT

ZIONSVILLE, Ind.--(BUSINESS WIRE)--
Delaware Life Insurance Company, a Group 1001 company, today announced the addition of the BlackRock U.S. Equity Bitcoin Balanced Risk 12% Index to its fixed index annuity (FIA) portfolio, making Delaware Life the first insurance carrier to offer an index that contains cryptocurrency. This strategic addition enables investors to diversify their portfolios and gain exposure to Bitcoin, while providing full protection of the principal contributed to the FIA.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260120994831/en/

Delaware Life Insurance Company Launches Industry’s First Fixed Indexed Annuity with Bitcoin Exposure

Delaware Life is committed to innovation and expanding investment opportunities in the annuity space.

"We're proud to partner with BlackRock as the first insurance carrier to offer cryptocurrency exposure through a fixed index annuity,” said Colin Lake, President & CEO of Delaware Life Marketing. “As the retirement-planning landscape evolves, we're continuously and thoughtfully innovating to meet the needs of financial professionals and their clients. Our fixed index annuities deliver what today's investors want and need: opportunity for growth with protection."

The BlackRock U.S. Equity Bitcoin Balanced Risk 12% Index is designed to deliver:

• Blended growth exposure: Combines U.S. equities and Bitcoin in one index for diversified return potential.
• Risk-managed design: Targets 12% volatility, using dynamic cash adjustments to help smooth Bitcoin’s inherent volatility.

• Efficient crypto access: Provides professionally managed Bitcoin exposure without the complexity of direct crypto ownership through the use of iShares Bitcoin Trust ETF (IBIT), the largest and most liquid of the Bitcoin exchange-traded products (ETP).¹

The launch coincides with Bitcoin's 17^th anniversary and the second anniversary of IBIT, marking a milestone in bringing digital assets into traditional retirement products.

“This launch builds around the tremendous success and client demand we have seen for IBIT, enabling insurance clients to now add bitcoin exposure as part of a broader indexed annuity strategy,” said Robert Mitchnick, Global Head of Digital Assets at BlackRock. “The BlackRock U.S. Equity Bitcoin Balanced Risk 12% Index offers a measured approach, allowing policyholders to participate in digital assets while maintaining the downside protection they expect from annuity products.”

The BlackRock U.S. Equity Bitcoin Balanced Risk 12% Index is available as an index option on three of Delaware Life’s products: Momentum Growth^TM, Momentum Growth Plus^TM, and DualTrack Income^TM. For more information on the BlackRock U.S. Equity Bitcoin Balanced Risk 12% Index and Delaware Life’s FIAs, visit https://www.delawarelife.com/product/fia.

About Delaware Life Insurance Company

Delaware Life is a life insurance and annuity company that empowers financial professionals with a wide array of customizable solutions. A subsidiary of Group 1001, we were born out of the advisor industry, and we understand how important it is to find the right fit for every client, every situation, and every individual need. We’re passionate about equipping you with annuities that give your customers peace of mind and a successful future—allowing them to plan with confidence for whatever’s next.

About Group 1001

Group 1001 Insurance Holdings, LLC (“Group 1001”) is a collective that empowers companies to create positive growth. Our insurance and annuities are easy to understand and accessible to all. Our online investing platform gives individuals control over their savings. Our technology and innovation help companies succeed. And our strategic partnerships bring people together through education and sports.

As of September 30, 2025, Group 1001 Insurance had more than 1,500 employees and combined assets under management of $76.4 billion and provides over 496,000 active annuity contracts and life insurance policies. It comprises the following brands: Delaware Life, Gainbridge^SM, Clear Spring Life and Annuity Company, Clear Spring Property and Casualty Group, Clear Spring Health, and the RVI Group, among others.

About BlackRock

BlackRock’s purpose is to help more and more people experience financial well-being. As a fiduciary to investors and a leading provider of financial technology, we help millions of people build savings that serve them throughout their lives by making investing easier and more affordable. For additional information on BlackRock, please visit www.blackrock.com/corporate | Twitter: @blackrock | LinkedIn: www.linkedin.com/company/blackrock

BlackRock Index Services, LLC (“Index Services”), a subsidiary of BlackRock, Inc. designs, sponsors and publishes the BlackRock Index for use in portfolio benchmarking, and portfolio management.

This information must be accompanied or preceded by a current iShares Bitcoin Trust ETF prospectus, which may be obtained by clicking here. Please read the prospectus carefully before investing.

The iShares Bitcoin Trust ETF is not an investment company registered under the Investment Company Act of 1940, and therefore is not subject to the same regulatory requirements as mutual funds or ETFs registered under the Investment Company Act of 1940.

Investing involves a high degree of risk, including possible loss of principal. An investment in the Trust is not suitable for all investors, may be deemed speculative and is not intended as a complete investment program. An investment in Shares should be considered only by persons who can bear the risk of total loss associated with an investment in the Trust. This material is not intended to be relied upon as a forecast, research or investment advice, and is not a recommendation, offer or solicitation to buy or sell any securities or to adopt any investment strategy advice.

Investing in digital assets involves significant risks due to their extreme price volatility and the potential for loss, theft, or compromise of private keys. The value of the shares is closely tied to acceptance, industry developments, and governance changes, making them susceptible to market sentiment. Digital assets represent a new and rapidly evolving industry, and the value of the Shares depends on their acceptance. Changes in the governance of a digital asset network may not receive sufficient support from users and miners, which may negatively affect that digital asset network’s ability to grow and respond to challenges. Investing in the Trust comes with risks that could impact the Trust's share value, including large-scale sales by major investors, security threats like breaches and hacking, negative sentiment among speculators, and competition from central bank digital currencies and financial initiatives using blockchain technology. A disruption of the internet or a digital asset network would affect the ability to transfer digital assets and, consequently, would impact their value. There can be no assurance that security procedures designed to protect the Trust’s assets will actually work as designed or prove to be successful in safeguarding the Trust’s assets against all possible sources of theft, loss or damage.

The iShares Funds are distributed by BlackRock Investments, LLC (together with its affiliates, “BlackRock”).

BLACKROCK and iSHARES are trademarks of BlackRock, Inc., or its subsidiaries in the United States and elsewhere. All other marks are the property of their respective owners.

BlackRock, Inc. is not affiliated with Delaware Life or its affiliates.

¹ Source: Bloomberg, as of December 31, 2025. Based on 20-day average trading volumes across all U.S. spot bitcoin ETPs, since the commencement of trading on Jan. 11, 2024 through Dec. 31, 2025. Liquidity, characterized by strong trading volume. Fund size determined by AUM.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260120994831/en/

Amanda Vela
Group 1001

Social Media Manager

[email protected]

317-374-3180

Source: Group 1001