2021 OCT 08 (NewsRx) — By a
No assignee for this patent application has been made.
News editors obtained the following quote from the background information supplied by the inventors: “A party, such as a person or business, may have one or more types of insurance coverage issued by an insurance provider. Thus, in some scenarios, the party may have life insurance coverage, liability insurance coverage, homeowners or renters insurance coverage, automotive insurance coverage, health insurance coverage, etc. Typically, such insurance coverage is on an annual or other basis that may be chosen by the insurance provider with respect to a number of insured parties or that may be conventional in the insurance industry. Obtaining and maintaining conventional insurance coverage of various types in this manner has several drawbacks.”
As a supplement to the background information on this patent application, NewsRx correspondents also obtained the inventors’ summary information for this patent application: “The present embodiments may relate to providing on-demand services or products. For instance, a predictive offering may be based upon smart/cognitive analytics to prompt on-demand offers for insurance or increased coverage for a finite, and generally shorter timeframe than traditional insurance.
“In one aspect, it may be determined whether a risk of a loss associated with a party (which may or may not be a party already insured by an insurance provider) is temporarily higher, lower, or otherwise different from an ordinary (e.g., predetermined) risk of the loss. For instance, the ordinary risk of the loss may be an average risk of a loss of the same type for which the risk is determined. When the risk of the loss is temporarily higher (or lower, or otherwise different from ordinary), terms of temporary insurance coverage may be determined, and such temporary insurance coverage may be offered and/or provided to the party. As described herein, a risk of a loss that is “temporarily different” than ordinary may include a risk of a loss associated with a party that is temporarily higher than an ordinary risk of the loss, a risk of the loss associated with the party that is temporarily lower than the ordinary risk of the loss, and/or a risk of the loss associated with the party that otherwise temporarily differs from the ordinary risk of the loss. Providing of such temporary insurance coverage for a short duration and in an “on demand” fashion, where the party obtains the temporary insurance coverage when the temporary insurance coverage is likely to be needed and for a duration for which the temporary insurance coverage is likely to be needed, better customizes insurance coverage to the actual needs and risks of the party. As described herein, temporary insurance coverage may refer to insurance coverage that provides, among other attributes of such insurance coverage, (i) an increased or reduced level or levels of insurance coverage relative to a level or levels of insurance coverage that the party has (or does not have) under a conventional (e.g., annual-basis) insurance policy or policies, and/or (ii) otherwise different insurance coverage (e.g., different terms of insurance coverage).
“In another aspect, a computer-implemented method of providing insurance coverage using temporary risk data determined using one or more devices associated with a party may be provided. The method may include: (1) determining, at the one or more devices associated with the party by at least one of (i) one or more processors or (ii) one or more transceivers, that a risk of a loss associated with the party is temporarily higher (or otherwise different or lower) than an ordinary risk of the loss, the risk of the loss being temporarily higher (or otherwise different or lower, respectively) than the ordinary risk of the loss when the risk of the loss is higher (or otherwise different or lower, respectively) than the ordinary risk of the loss for at least one of (i) a predetermined amount of time, (ii) less than the predetermined amount of time, or (iii) less than a period of an insurance policy that covers the loss and is issued to the party; (2) determining, by the at least one of the one or more processors of the one or more devices associated with the party or the one or more transceivers of the one or more devices associated with the party, one or more terms of temporary insurance coverage for the loss having the risk that is temporarily higher (or otherwise different or lower, respectively) than the ordinary risk of the loss based upon at least one of an amount by which the risk of the loss is temporarily higher (or otherwise different or lower, respectively) than the ordinary risk of the loss or a duration for which the risk of the loss is to be temporarily higher (or otherwise different or lower, respectively) than the ordinary risk of the loss; (3) providing, via one or more user interfaces, by the one or more processors of the one or more devices associated with the party, an indication of an availability of the temporary insurance coverage; and/or (4) sending, by the at least one of the one or more processors of the one or more devices associated with the party or the one or more transceivers of the one or more devices associated with the party, a request to one or more insurance provider computing devices for the temporary insurance coverage for an amount of time based upon a duration for which the risk of the loss is to be temporarily higher (or otherwise different or lower, respectively) than the ordinary risk of the loss, so as to obtain for the requested amount of time the temporary insurance coverage for the loss having the risk that is temporarily higher (or otherwise different or lower, respectively) than the ordinary risk of the loss. The method may include additional, less, or alternate actions, including those discussed elsewhere herein.
“In yet another aspect, a computer system for providing insurance coverage using temporary risk data determined using one or more devices associated with a party may be provided. The computer system may include at least one of (i) one or more processors, or (ii) one or more transceivers. The computer system may be configured to: (1) determine that a risk of a loss associated with the party is temporarily higher (or otherwise different or lower) than an ordinary risk of the loss, the risk of the loss being temporarily higher (or otherwise different or lower, respectively) than the ordinary risk of the loss when the risk of the loss is higher (or otherwise different or lower, respectively) than the ordinary risk of the loss for at least one of (i) a predetermined amount of time, (ii) less than the predetermined amount of time, or (iii) less than a period of an insurance policy that covers the loss and is issued to the party; (2) determine one or more terms of temporary insurance coverage for the loss having the risk that is temporarily higher (or otherwise different or lower, respectively) than the ordinary risk of the loss based upon at least one of an amount by which the risk of the loss is temporarily higher (or otherwise different or lower, respectively) than the ordinary risk of the loss or a duration for which the risk of the loss is to be temporarily higher (or otherwise different or lower, respectively) than the ordinary risk of the loss; (3) provide, via one or more user interfaces, an indication of an availability of the temporary insurance coverage; and/or (4) send a request to one or more insurance provider computing devices for the temporary insurance coverage for an amount of time based upon a duration for which the risk of the loss is to be temporarily higher (or otherwise different or lower, respectively) than the ordinary risk of the loss, so as to obtain for the requested amount of time the temporary insurance coverage for the loss having the risk that is temporarily higher (or otherwise different or lower, respectively) than the ordinary risk of the loss. The computer system may be configured with additional, less, or alternate functionality, including that discussed elsewhere herein.
“Advantages will become more apparent to those skilled in the art from the following description of the preferred embodiments which have been shown and described by way of illustration. As will be realized, the present embodiments may be capable of other and different embodiments, and their details are capable of modification in various respects. Accordingly, the drawings and description are to be regarded as illustrative in nature and not as restrictive.
“The Figures depict preferred embodiments for purposes of illustration only. Alternative embodiments of the systems and methods illustrated herein may be employed without departing from the principles of the invention described herein.”
The claims supplied by the inventors are:
“1-20. (canceled)
“21. A computer-implemented method of providing insurance coverage using temporary risk data determined using one or more devices associated with a party, the method comprising: retrieving, from an insurance provider database, a list of types of insurance coverage offered by an insurance provider; generating, at the one or more devices associated with the party by at least one or more processors, home telematics data; determining, at the one or more devices associated with the party by the at least one or more processors, an ordinary risk of loss using the generated home telematics data, wherein the ordinary risk of loss is a likelihood for a loss to occur that would be covered by a type of insurance coverage from the list of types; generating, at the one or more devices associated with a vehicle of a party by the at least one or more processors, vehicle telematics data; determining, at the one or more devices associated with the party by the at least one or more processors, that a risk of loss associated with the party is temporarily different from the ordinary risk of loss using the vehicle telematics data, wherein the risk of loss is temporarily different from the ordinary risk of loss when: the risk of loss would be covered by the same type of insurance coverage from the list of types as the ordinary risk of loss and not included in the list of risks to the party, and a likelihood for the risk of loss to occur is greater than the likelihood of the ordinary risk of loss by a predetermined threshold for a predetermined period of time; determining, by the one or more processors of the one or more devices associated with the party, one or more terms of temporary insurance coverage based upon at least the determination that the risk of loss is temporarily different from the ordinary risk of loss; and providing, via one or more user interfaces, by the one or more processors of the one or more devices associated with the party, an indication of an availability of the temporary insurance coverage to the party.
“22. The computer-implemented method of claim 21, wherein the one or more devices associated with the party include one or more smart vehicle devices associated with a vehicle in which the party travels.
“23. The computer implemented method of claim 22, wherein the one or more smart vehicle devices facilitate at least one of automatic vehicle control functions or automatic vehicle monitoring functions, and wherein determining that the risk of loss associated with the party is temporarily different from the ordinary risk of loss includes determining, at the one or more smart vehicle devices based upon data received by the one or more smart vehicle devices from one or more additional smart vehicle devices associated with one or more additional vehicles, at least one of (i) that the vehicle is within or outside of an area that includes at least one of congestion, a collision, or a predetermined weather occurrence, (ii) that the vehicle is within a predetermined distance of, or a predetermined distance from, the at least one of the congestion, the collision, or the predetermined weather occurrence, or (iii) that the vehicle is estimated to reach, avoid, or exit the area that includes the at least one of the congestion, the collision, or the predetermined weather occurrence within a predetermined time.
“24. The computer-implemented method of claim 21, wherein the one or more devices associated with the party include one or more smart home devices associated with a residence of the party.
“25. The computer-implemented method of claim 24, wherein the one or more smart home devices facilitate at least one of automatic residence control functions or automatic residence monitoring functions, and wherein determining that the risk of loss associated with the party is temporarily different from the ordinary risk of loss includes determining, at the one or more smart home devices based upon data received by the one or more smart home devices from one or more additional smart home devices associated with one or more additional residences within a particular proximity of the residence of the party, that at least one property crime associated with at least one of the one or more additional residences has occurred.
“26. The computer-implemented method of claim 21, wherein the one or more devices associated with the party indicate at least one of a location of the party or a speed of the party, and wherein determining that the risk of loss associated with the party is temporarily different from the ordinary risk of loss includes determining, at the one or more devices associated with the party based upon the at least one of the location of the party or the speed of the party, that the party is or is not riding a bicycle.
“27. The computer-implemented method of claim 21, wherein the one or more devices associated with the party indicate previous activity data corresponding to previous activity of the party, and wherein determining that the risk of loss associated with the party is temporarily different from the ordinary risk of loss includes: determining habit data of the party based upon the previous activity data, the habit data being indicative of at least one habit of the insured party; and determining, based upon the habit data, that the risk of loss associated with the party is temporarily different from the ordinary risk of loss.
“28. The computer-implemented method of claim 21, wherein determining that the risk of loss associated with the party is temporarily different from the ordinary risk of loss includes determining, by the at least one of the one or more processors of the one or more devices associated with the party, that the party is at least one of: (i) traveling using a travel service or (ii) expected to travel using the travel service within a predetermined amount of time.
“29. The computer-implemented method of claim 21, wherein the one or more devices associated with the party indicate location data indicative of at least one of: (i) a location of the party or (ii) an expected future location of the party, and wherein determining that the risk of loss associated with the party is temporarily different from the ordinary risk of loss includes determining that the at least one of the location of the party or the expected future location of the party is associated with a location-specific risk of loss that is temporarily different from the ordinary risk of loss.
“30. The computer-implemented method of claim 21, wherein sending the request to the one or more insurance provider computing devices for the temporary insurance coverage is performed at least one of (i) based upon a selection by one of the party or another user associated with the party of an option to request the temporary insurance coverage in response to the one or more devices associated with the party providing at least one of (a) the option to request the temporary insurance coverage to the one of the party or the other user associated with the party, or (b) an indication that the risk of loss associated with the party is temporarily different from the ordinary risk of loss, or (ii) automatically by the at least one of the one or more processors of the one or more devices associated with the party based upon the determining, by the at least one of the one or more processors of the one or more devices associated with the party, that the risk of loss associated with the party is temporarily different from the ordinary risk of loss.
“31. A computer system for providing insurance coverage using temporary risk data determined using one or more devices associated with a party, the computer system comprising at least one or more processors, the computer system configured to: retrieve, from an insurance provider database, a list of types of insurance coverage offered by an insurance provider; generate home telematics data; determine an ordinary risk of loss using the generated home telematics data, wherein the ordinary risk of loss is a likelihood for a loss to occur that would be covered by a type of insurance coverage from the list of types; generate vehicle telematics data; determine that a risk of loss associated with the party is temporarily different from the ordinary risk of loss using the vehicle telematics data, wherein the risk of loss is temporarily different from the ordinary risk of loss when: the risk of loss would be covered by the same type of insurance coverage from the list of types as the ordinary risk of loss and not included in the list of risks to the party, and a likelihood for the risk of loss to occur is greater than the likelihood of the ordinary risk of loss by a predetermined threshold for a predetermined period of time; determine one or more terms of temporary insurance coverage based upon at least the determination that the risk of loss is temporarily different from the ordinary risk of loss; and provide, via one or more user interfaces, an indication of an availability of the temporary insurance coverage to the party.
“32. The computer system of claim 31, wherein the computer system includes one or more smart vehicle devices associated with a vehicle in which the party travels.”
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