Dynamic usage-based policies
US12020324B2 · kind B2 · utility
Assignee
Inventors
Key dates
| Filing date | Oct 20, 2022 |
| Grant date | Jun 25, 2024 |
| Priority date | — |
| Expiry date | Oct 20, 2042 |
Classification
- Technology area (CPC G)Physics
- CPC primaryG06Q20/14
- WIPO fieldIT methods for management
- WIPO sectorElectrical engineering
Abstract
Methods, computer-readable media, systems and apparatuses for determining and implementing dynamic usage-based insurance policies are presented. A cost per day and a cost per mile associated with the dynamic usage-based insurance policy may be determined. The cost per mile may be computed independently for each of a plurality of road segments comprising a trip based on a time of day that the vehicle traveled each road segment, a road type associated with each road segment. The cost per mile of each road segment of the driving trip may further include whether or not hard braking or hard cornering events were encountered during a specified cumulative driving distance that may include, at least a portion, of a plurality of driving trips. The cost per mile for each of the plurality of driving trips may be adjusted once a threshold distance has been traveled by the vehicle based on the number of hard braking events and hard cornering events occurred during that distance.
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.