Patent · US Active

Systems and methods for total loss handling via blockchain

US11037246B1 · kind B1 · utility

7Cited by

25References

21Claims

0Family size

Assignee

State Farm Mutual Automobile Insurance Company · US

Inventors

William J. Leise · Normal, US
Douglas A. Graff · West Plains, US
Stacie A. McCullough · Bloomington, US
Shawn M. Call · Bloomington, US
Eric Bellas · Bloomington, US
Jaime Skaggs · Chenoa, US
Jacob J. Alt · Downs, US
Eric R. Moore · Heyworth, US
Vicki King · Bloomington, US

Key dates

Filing date	Feb 20, 2018
Grant date	Jun 15, 2021
Priority date	—
Expiry date	Jun 16, 2038

Classification

Technology area (CPC H)Electricity
CPC primaryH04W12/71
WIPO fieldDigital communication
WIPO sectorElectrical engineering

Abstract

The present embodiments relate to systems and methods for using a blockchain or shared ledger to handle a total loss of a vehicle associated with a Vehicle Identification Number (VIN). A vehicle lifecycle may be tracked on a blockchain according to VIN. If the vehicle suffers a total loss, a transaction is broadcast to the blockchain to update the shared ledger to record the loss status of the vehicle. The blockchain may also include other information, such as mileage, regarding the vehicle and searchable by VIN. The other information and the loss status may be used to determine whether the vehicle likely represents a total loss.

Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.