Browse Prior Art Database

A Method and System for Providing A Standardized Driver Score

IP.com Disclosure Number: IPCOM000247059D
Publication Date: 2016-Jul-31
Document File: 1 page(s) / 103K

Publishing Venue

The IP.com Prior Art Database

Abstract

A method and system is disclosed for providing a standardized driver score (SDS). The SDS facilitates efficient and optimized auto insurance underwriting. This in turn enables the creation of new auto insurance models and it also enables portability of auto insurance policies

This text was extracted from a PDF file.
This is the abbreviated version, containing approximately 68% of the total text.

Page 01 of 1

A Method and System for Providing A Standardized Driver Score

Disclosed is a method and system for providing a standardized driver score (SDS). The SDS facilitates dynamic auto insurance underwriting. This in turn enables the creation of new auto insurance models and it also enables portability of auto insurance policies.

The following figure illustrates a block diagram of the system as disclosed herein.

Figure

The system includes a set of APIs through which automobiles, insurance companies, public entities like DMVs, Departmant of Transportation, can submit/publish data for driver score generation. The data collected includes, but is not limited to: driver ID, accident data (type, date & time, resolution, involved parties, damage), traffic tickets data (type, date & time, resolution), data indicative of the automobile use (miles driven, average speed, maximum speed, # of trips) and data indicative of driver behavior (lane changes w/o signal, braking deceleration, acceleration, driving above posted speed limit) and data indicative of driving conditions (weather, road conditions, construction areas).

The system stores the collected data (structured & unstructured) in a repository. The system updates the data periodically and/or in real-time. Using the data, an analytical engine generates driver scores which are then maintained in a driver score database.

In an exemplary implementation, a driver score ranges from 0 to 100, wherein 100 indicates a perfect score. To...