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US 2025/0182140 A1Published application
Methods and systems for distributing vehicle coverage
OwnerFrank T. O'Keefeinventor
Life of this patent
Estimating the term…
Abstract
Methods and systems are described that provide disruptive models for distributing vehicle coverage while providing fuel suppliers and/or vehicle manufacturers with profitable new revenue streams, while potentially eliminating third-party insurance brokers to reduce costs and directly connecting the cost of vehicle coverage to the risk associated with individual vehicle operators.
Claims20
A method for providing insurance for a vehicle via a membership model comprising:
- providing one or more vehicle sensors on a vehicle;
- collecting vehicle data from the one or more vehicle sensors, wherein the vehicle data includes at least a distance travelled;
- transmitting said vehicle data to a processor located remote from said vehicle;
- determining risk characteristics for said vehicle based at least in part on vehicle data;
- determining a vehicle coverage value based at least in part on said risk characteristics;
- and
- providing insurance to said vehicle priced based at least in part on said vehicle coverage value.
4 more elements
A system for providing insurance for a vehicle via a membership model comprising:
- a vehicle having one or more sensors collecting vehicle data during the operation of the vehicle;
- said vehicle data including at least a distance travelled by said vehicle;
- an insurance processor in data communication with said vehicle, said processor located remote from said vehicle;
- said processor receiving said vehicle data from said vehicle;
- said processor determining risk characteristics for said vehicle based at least in part on said vehicle data;
- said processor determining a vehicle coverage value based at least in part on said risk characteristics;
- and
- said insurance processor presenting an insurance contract based at least in part on said vehicle coverage value.
5 more elements
Dependencies are inferred from the claim text.