2023 JAN 20 (NewsRx) — By a Information Reporter-Workers Information Editor at Insurance coverage Day by day Information — In response to information reporting originating from Washington, D.C., by NewsRx journalists, a patent utility by the inventor Floyd, Matthew L. (Alpharetta, GA, US), filed on September 13, 2022, was made out there on-line on January 5, 2023.
No assignee for this patent utility has been made.
Reporters obtained the next quote from the background data provided by the inventors: “Utilization-based insurance coverage contracts (often known as journey based mostly insurance coverage) are short-term contracts that permit a driver to pay for insurance coverage as they want it. In lots of instances, this insurance coverage is predicated upon the mix of the consumer and the car. Nevertheless, as many drivers are not being tied to particular autos, it has turn out to be harder to find out the correct insurance coverage for the person consumer on a case by case foundation. Moreover, whereas the usage-based insurance coverage (UBI) could embody restrictions on the consumer, it isn’t all the time attainable to find out when the consumer has complied with these restrictions. In some instances, a consumer could want to modify already issued insurance coverage to permit for a detour or facet journey. There exists a necessity to gather and collate information a couple of consumer and a visit to permit for correct monitoring of insurance coverage insurance policies and people.”
Along with acquiring background data on this patent utility, NewsRx editors additionally obtained the inventor’s abstract data for this patent utility: “The current embodiments could relate to blockchain based mostly programs and strategies for managing usage-based insurance coverage contracts. The platform could embody an Insurance coverage Monitoring (IM) pc system related to a car, a Consumer Primarily based Auto Insurance coverage Administration (“UBAIM”) system, a plurality of sensors on the car, a plurality of auto pc units related to a plurality of autos configured to behave as nodes for a blockchain ledger, and/or an insurer public sale community together with a plurality of insurer pc units related to a plurality of insurers. The IM pc system could also be a cellular gadget related to the motive force and/or a car pc gadget related to the car. In some additional embodiments, the IM pc system could also be separate from the car and be in communication with the car.
“The IM pc system could also be configured to: (i) obtain a consumer request for journey insurance coverage (akin to by way of wi-fi communication or information transmission over a number of radio hyperlinks or digital communication channels), the place the consumer request features a plurality of details about the consumer (who could or will not be the motive force), the car (which can be an autonomous or semi-autonomous car), and the journey; (ii) transmit the consumer request to the insurer public sale community, the place the insurer public sale community transmits the request to the plurality of insurer pc units, that are configured to generate bids based mostly upon the consumer request; (iii) obtain, from the insurer public sale community, a plurality of bids (or a particular profitable bid) from the plurality of insurer pc units for journey insurance coverage based mostly upon the consumer request; (iv) show the plurality of bids (or chosen profitable bid) to the consumer; (v) obtain a consumer number of a bid of the plurality of bids (or a consumer approval of the chosen profitable bid); (vi) transmit the consumer choice (or consumer approval) to the insurer public sale community, the place the insurer public sale community notifies the insurer pc gadget related to the chosen bid (or profitable bid), which often is the UBAIM server or could also be in communication with the UBAIM server; (vii) retailer an insurance coverage and/or sensible contract that features a number of phrases (the phrases could embody situations, clauses, car or driver limitations, premiums, reductions, deductibles, endorsements, duties, obligations, and so forth.) for the journey utilizing a blockchain construction, the place the plurality of nodes retailer copies of the insurance coverage contract, and the place in some embodiments, the blockchain based mostly insurance coverage contract could also be generated by the UBAIM server, and in different embodiments, the blockchain based mostly insurance coverage contract could also be generated by the IM pc system based mostly off of data from the bid and/or the UBAIM server. The IM pc system could additional be configured to: (viii) obtain, from the motive force and/or a car (akin to an autonomous car controller), a requested modification of a minimum of one of many a number of phrases of the insurance coverage contract; (ix) transmit the requested modification to the UBAIM server; (x) obtain a response to the request from the UBAIM server, the place the response could embody an approval or a number of extra phrases; (xi) if the response contains a number of extra phrases, show the a number of extra phrases to the motive force and/or car for approval and wait to obtain approval of the a number of extra phrases from the motive force; (xii) retailer the modification, the response, the approval, and/or the a number of extra phrases within the insurance coverage contract (which can be a digital or digital sensible contract), in some embodiments, the IM pc system could (a) generate a brand new block for the insurance coverage contract based mostly upon the requested modification and the response, (b) replace the insurance coverage contract with the brand new block, and/or © transmit the brand new block with the plurality of nodes, the place every the plurality of nodes are configured to replace their saved copies of the insurance coverage contract with the brand new block. In different embodiments, the IM pc system could transmit the requested modification and the response to the plurality of nodes, the place every of the plurality of nodes are configured to generate a brand new block based mostly upon the requested modification and the response and replace their saved copies of the insurance coverage contract with the generated block. The IM pc system could additional be configured to: (xiii) obtain sensor data from the a number of sensors related to the car; (xiv) with buyer permission or affirmative consent, examine the obtained sensor data with the a number of phrases (situations, limitations, clauses, duties, obligations, and so forth.) of the (digital and/or sensible) insurance coverage contract; (xv) decide whether or not the motive force and/or the car (akin to autonomous car) complied with the a number of phrases based mostly upon the comparability; (xvi) if the dedication is that the motive force or autonomous car complied with the a number of phrases, the pc gadget could also be additional configured to: (a) transmit a notification of driver or autonomous car compliance to an insurance coverage server related to the insurance coverage contract; (b) generate a brand new block for the insurance coverage contract based mostly upon the notification of driver or autonomous car compliance; © retailer the notification of driver or autonomous car compliance within the insurance coverage contract; (d) obtain a sign of a reduction and/or decrease premium for the insurance coverage contract from the insurance coverage server; (e) generate a brand new block for the insurance coverage contract based mostly upon the indication of the low cost and/or decrease premium; (f) retailer the indication within the insurance coverage contract; (g) show the indication of the low cost and/or decrease premium of the insurance coverage contract to the motive force together with an acknowledgement request; (h) obtain the acknowledgement from the motive force and/or car; (i) generate a brand new block for the insurance coverage contract based mostly upon the acknowledgement; (j) retailer the acknowledgement within the insurance coverage contract; and/or (ok) generate a brand new block for the insurance coverage contract based mostly upon the notification, the indication, and/or the acknowledgement; and/or (xvii) generate a brand new block for the (digital or sensible) insurance coverage contract that features sensor data on a periodic foundation.
“The current embodiments could relate to programs and strategies for managing usage-based insurance coverage. A pc system, as described herein, could embody a car controller or a cellular pc gadget. The pc gadget could also be configured to (i) obtain a consumer request for journey insurance coverage, the place the consumer request features a plurality of details about the consumer, the car (which can be an autonomous car), and the journey (akin to an upcoming, approaching, or impending journey utilizing the car); (ii) transmit the consumer request to an insurer public sale community, the place the insurer public sale community features a plurality of insurers; (iii) obtain, from the insurer public sale community, a plurality of bids from a plurality of insurers for insurance coverage for the journey (or a profitable bid); (iv) show the plurality of bids (or profitable bid) to the consumer; (v) obtain a consumer number of a bid of the plurality of bids (or approval of the profitable bid); (vi) transmit the consumer choice (or consumer approval) to the insurer public sale community; (vii) generate an insurance coverage contract (akin to a digital or digital insurance coverage and/or sensible contract) based mostly upon the consumer request and the chosen bid (or consumer approval of the profitable bid); (viii) obtain the insurance coverage contract from an insurance coverage server related to the chosen bid (or profitable bid); (ix) retailer the insurance coverage contract based mostly upon the chosen bid (or profitable bid), the place the insurance coverage contract is in a blockchain construction, the place a plurality of nodes retailer copies of the insurance coverage contract within the blockchain construction. The plurality of nodes could embody a plurality of pc units every related to considered one of a plurality of autos, and the insurance coverage server could also be one of many plurality of nodes, and will embody a number of phrases (the phrases could embody situations, obligations, duties, limitations (together with driver or car limitations related to a particular journey or usage-based insurance coverage contract), premiums, reductions, deductibles, clauses, and/or different phrases); (x) obtain, from the motive force and/or car, a requested modification of a minimum of one of many a number of phrases of the insurance coverage contract; (xi) transmit the requested modification to an insurance coverage server related to the insurance coverage contract; (xii) obtain a response to the request from the insurance coverage server, the place the response contains a number of extra phrases; (xiii) show the a number of extra phrases to the motive force for approval; (xiv) obtain approval of the a number of extra phrases from the motive force or car; (xv) retailer the a number of extra phrases and the response within the insurance coverage contract; (xvi) generate a brand new block for the insurance coverage contract based mostly upon the requested modification and the response; (xvii) replace the insurance coverage contract with the brand new block; (xviii) transmit the brand new block the plurality of nodes, the place every the plurality of nodes are configured to replace their saved copies of the insurance coverage contract with the brand new block; (xix) transmit the requested modification and the response to the plurality of nodes, the place every of the plurality of nodes are configured to generate a brand new block based mostly upon the requested modification and the response and replace their saved copies of the insurance coverage contract with the generated block; (xx) obtain sensor data from a number of sensors related to the car or consumer cellular gadget; and/or (xxi) with the motive force’s or car proprietor’s permission or affirmative consent, examine the obtained sensor data with the a number of phrases of the insurance coverage contract.”
There may be extra abstract data. Please go to full patent to learn additional.”
The claims provided by the inventors are:
“1. An insurance coverage monitoring (“IM”) pc system for managing a usage-based insurance coverage contract for a number of authorized entities, the IM pc system together with a minimum of one processor in communication with a minimum of one reminiscence gadget, and a minimum of one car controller related to a car, the a minimum of one processor programmed to: retailer, in a primary block of a blockchain construction, the insurance coverage contract for a present journey together with a number of phrases of the insurance coverage contract; retrieve, from a database, a plurality of historic entity driver information, the historic entity driver information together with historic sensor information related to operation of the car by an entity; practice a driver mannequin utilizing the plurality of historic entity driver information and a machine studying algorithm, the educated driver mannequin configured to obtain sensor data and output an recognized driver; obtain, by way of the a minimum of one car controller, sensor data related to the present journey collected by a number of sensors related to the car, the sensor data contains information associated to operation of the car through the present journey; apply the sensor data to the motive force mannequin to acquire an recognized driver for the present journey; electronically examine the recognized driver to the a number of authorized entities to verify that the recognized driver is among the authorized entities, authorized to be used with the insurance coverage contract to function the car through the present journey; and retailer, within the blockchain construction, the recognized driver, the recognized driver updates the historic entity driver information for the recognized driver thereby enhancing the accuracy of the historic entity driver information for producing a subsequent insurance coverage contract for the recognized driver.
“2. The IM pc system of declare 1, whereby the blockchain construction features a plurality of nodes configured to retailer copies of the insurance coverage contract within the blockchain construction.
“3. The IM pc system of declare 1, whereby the processor is additional programmed to: electronically examine the obtained sensor data with a number of phrases of the insurance coverage contract; decide whether or not a driver of the car complied with the a number of phrases based mostly upon the comparability; and retailer, within the blockchain construction, the dedication of driver compliance in affiliation with the insurance coverage contract.
“4. The IM pc system of declare 1, whereby the processor is additional programmed to generate one other new block of the blockchain construction for storing the insurance coverage contract and the sensor data on a periodic foundation.
“5. The IM pc system of declare 1, whereby the processor is in communication with an insurance coverage server related to the insurance coverage contract, and whereby the processor is additional programmed to: obtain a sign of a reduction for the insurance coverage contract from the insurance coverage server; and retailer the indication of the low cost with the insurance coverage contract inside one other new block of the blockchain construction.
“6. The IM pc system of declare 5, whereby the processor is additional programmed to generate the opposite new block of the blockchain construction for storing the insurance coverage contract and the indication of the low cost in response to the indication of the low cost being generated.
“7. The IM pc system of declare 5, whereby the processor is additional programmed to: show the indication of the low cost for the insurance coverage contract to the motive force together with an acknowledgement request; obtain an acknowledgement from the motive force; and retailer the acknowledgement with the insurance coverage contract.
“8. The IM pc system of declare 7 whereby the processor is additional programmed to generate one other new block of the blockchain construction for storing the insurance coverage contract and the acknowledgement in response to the acknowledgement being obtained.
“9. The IM pc system of declare 7, whereby the processor is additional programmed to generate one other new block of the blockchain construction for storing the insurance coverage contract, the dedication, the indication, and the acknowledgement.
“10. The IM pc system of declare 1, whereby the insurance coverage contract is for the motive force of the car to insure the motive force through the present journey, whereby the insurance coverage contract contains a number of phrases, and whereby the present journey is a at present occurring or an impending journey.
“11. A pc-implemented technique for producing and managing usage-based contracts utilizing blockchains, the strategy applied on an insurance coverage monitoring (“IM”) pc system together with a minimum of one processor in communication with a minimum of one reminiscence gadget, a minimum of one car controller related to a car, and an insurance coverage server related to an insurance coverage contract, the strategy comprising: storing, in a primary block of a blockchain construction, the insurance coverage contract for a present journey together with a number of phrases of the insurance coverage contract; retrieving, from a database by the IM pc system, a plurality of historic entity driver information, the historic entity driver information together with historic sensor information related to operation of the car by an entity; coaching, by the IM pc system, a driver mannequin utilizing the plurality of historic entity driver information and a machine studying algorithm, the educated driver mannequin configured to obtain sensor data and output an recognized driver; receiving, on the IM pc system by way of the a minimum of one car controller, sensor data related to the present journey collected by a number of sensors related to the car, the sensor data contains information associated to operation of the car through the present journey; making use of, by the IM pc system, the sensor data to the motive force mannequin to acquire an recognized driver for the present journey; electronically evaluating, by the IM pc system, the recognized driver to the a number of authorized entities to verify that the recognized driver is among the authorized entities, authorized to be used with the insurance coverage contract to function the car through the present journey; and storing, within the blockchain construction, the recognized driver, the recognized driver updates the historic entity driver information for the recognized driver thereby enhancing the accuracy of the historic entity driver information for producing a subsequent insurance coverage contract for the recognized driver.
“12. The strategy of declare 11, whereby the blockchain construction features a plurality of nodes retailer copies of the insurance coverage contract within the blockchain construction.
“13. The strategy of declare 11 additional comprising producing a brand new block of the blockchain construction for storing the insurance coverage contract and the dedication of driver compliance in response to the dedication of driver compliance being generated.
“14. The strategy of declare 11 additional comprising producing a brand new block of the blockchain construction for storing the insurance coverage contract and the sensor data on a periodic foundation.
“15. The strategy of declare 11 additional comprising: receiving a sign of a reduction for the insurance coverage contract from the insurance coverage server; and storing the indication with the insurance coverage contract inside a brand new block of the blockchain construction.
“16. The strategy of declare 15 additional comprising producing a brand new block of the blockchain construction for storing the insurance coverage contract and the indication of the low cost in response to the indication of the low cost being generated.
“17. The strategy of declare 15 additional comprising: displaying the indication of the low cost of the insurance coverage contract to the motive force together with an acknowledgement request; receiving the acknowledgement from the motive force; and storing the acknowledgement with the insurance coverage contract.
“18. The strategy of declare 17 additional comprising producing a brand new block of the blockchain construction for storing the insurance coverage contract and the acknowledgement in response to the acknowledgement being obtained.
“19. The strategy of declare 17 additional comprising producing a brand new block of the blockchain construction for storing the insurance coverage contract, the dedication, the indication, and the acknowledgement.
“20. Not less than one non-transitory computer-readable storage media having computer-executable directions embodied thereon, whereby when executed by a minimum of one processor, the computer-executable directions trigger the processor to: retailer, in a primary block of a blockchain construction, an insurance coverage contract for a present journey of a car together with a number of phrases of the insurance coverage contract; retrieve, from a database, a plurality of historic entity driver information, the historic entity driver information together with historic sensor information related to operation of the car by an entity; practice a driver mannequin utilizing the plurality of historic entity driver information and a machine studying algorithm, the educated driver mannequin configured to obtain sensor data and output an recognized driver; obtain, by way of a minimum of one car controller, sensor data related to the present journey collected by a number of sensors related to the car, the sensor data contains information associated to operation of the car through the present journey; apply the sensor data to the motive force mannequin to acquire an recognized driver for the present journey; electronically examine the recognized driver to the a number of authorized entities to verify that the recognized driver is among the authorized entities, authorized to be used with the insurance coverage contract to function the car through the present journey; and retailer, within the blockchain construction, the recognized driver, the recognized driver updates the historic entity driver information for the recognized driver thereby enhancing the accuracy of the historic entity driver information for producing a subsequent insurance coverage contract for the recognized driver.”
For extra data, see this patent utility: Floyd, Matthew L. Blockchain Managed Multi-Provider Public sale System For Utilization-Primarily based Auto Insurance coverage. U.S. Patent Software Quantity 20230005074, filed September 13, 2022 and posted January 5, 2023. Patent URL (for desktop use solely): https://ppubs.uspto.gov/pubwebapp/external.html?q=(20230005074)&db=US-PGPUB&type=ids
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