US 11,599,951 B1Granted

Systems and methods for generating on-demand insurance policies

AssigneeState Farm Mutual Automobile Insurance Company

InventorsRyan Michael Gross, Jody Ann Thoele, Joseph Robert Brannan, Eric R. Moore

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Abstract

An on-demand insurance (ODI) server for generating dynamic user offerings may be provided. The ODI server may include at least one processor in communication with a memory device. The at least one processor 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, (ii) determine at least one transportation mode available for the trip, (iii) access contextual data associated with the trip, (iv) assess a risk associated with the at least one transportation mode, (v) calculate a risk score associated with the at least one transportation mode based upon at least the contextual data, (vi) generate 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.

Claims20

Dependent claims

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.

6 more elements

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.

6 more elements

Dependencies are inferred from the claim text.

Facts

Application: 17/127,410Filed 18 Dec 2020 · us provisional application
Priority: 13 Jan 2020
Granted: 7 Mar 2023
Term ends: Not estimatedThe source records don’t support an estimate.

Classification13 codes

G06Q 40/08
Finance; Insurance; Tax strategies; Processing of corporate or income taxes: insurance
G06F 3/0482
Based on specific properties of the displayed interaction object or a metaphor-based environment, e.g. interaction with desktop elements like…:…
G06Q 10/10
Administration; Management: office automation; Time management
G06Q 50/14
Services: travel agencies