State Farm Mutual Automobile Insurance Assigned Patent for Automatically Generate Insurance Policy Data

ALEXANDRIA, Va., April 4 -- State Farm Mutual Automobile Insurance, Bloomington, Illinois, has been assigned a patent (No. 10,607,294, initially filed Jan. 27, 2016) by three co-inventors for "methods and systems to automatically generate insurance policy data based upon life event data." The co-inventors are Paul D. Mitchell, Danvers, Illinois, Amy Engelhorn, Normal, Illinois, and Kathryn E. Knarr, Bloomington, Illinois.

The full-text of the patent can be found at 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=10,607,294.PN.&OS=PN/10,607,294&RS=PN/10,607,294

The abstract states: "Methods and systems are provided to automatically generate insurance policy data and/or update insurance policies. More particularly, methods and systems are provided to automatically generate insurance policy data and/or update insurance policies based upon life events and/or life event data. The life events and/or life event data may be representative of personal changes and/or life events (e.g., marriage; child birth; divorce; personal injury; purchase of a house; purchase of a vehicle; adoption; move to a different home, apartment, or state; employment change; health change; etc.) related to an insured person. The life events and/or life event data may automatically lead to providing insurance recommendations and/or adjusting insurance policies that provide insurance-based cost savings to insurance customers, more appropriate insurance coverage given the new circumstances, and/or enhance the customer experience. The insurance policies may be auto, home, renters, personal articles, life, health, pet, and/or other types of insurance policies."

Written by Ajita Mishra; edited by Sudarshan Harpal.