Method for automated driver insurance risk assessment
AssigneeGo2Solution Holding Ltd
InventorsOLEG KOROL, GENADI MAN
Life of this patent
Estimating the term…
Abstract
A method of continuous auto insurance risk scoring based on receiving the insured's cellphone GPS location data from which the itinerary of travel is determined, as well as speed which is compared to speed limits. The distance traveled per day and per month is compared with the insured's respective averages. Road Risk is assessed based on frequency of accidents for the roads traveled, weather and time of day. Personal Risk score is also determined based on number of trips unclassified or disputed as to who the driver was or claims that the cellphone was used by someone else, as well as willingness to follow suggestions for lowering the risk profile.
Claims15
A method for auto insurance of continuous, ongoing during policy term, Driving and Roads risk assessment comprising the steps of:
- receiving and recording insured's cellphone GPS location data,
- processing said GPS data for the purposes of determining insured's itinerary of movement, said movement's speed and distance traveled,
- using the information obtained from the above steps for Risk scoring.
A method for auto insurance of continuous, ongoing during policy term, risk assessment related to the insured's Personal Reliability comprising the steps of:
- determining and updating the average timeliness of responses to requests for information updates,
- comparing said current timeliness with the insured's average timeliness and with the average timeliness of other insureds,
- using the data obtained from the preceding steps for Risk Scoring.
A method for auto insurance of continuous, ongoing during policy term, risk assessment score comprising the step of:
- updating overall policy risk assessment by means of combining Driving and Roads risk score and Personal Reliability risk score, while giving each said score a predetermined weighting in the overall score.
Dependencies are inferred from the claim text.