SYSTEM AND METHOD FOR EXPECTATION BASED PROCESSING

1 . A system for determining insurance pricing information based on telematics data associated with a vehicle, the system comprising:

a computer memory configured to store an initial risk profile for a driver of the vehicle based on a correlation between received biographical information of the driver and stored claim expected loss information, wherein the initial risk profile includes a plurality of risk factors with associated expected scores for the driver;

a processor configured to generate a driver proxy score (DPS) based on a combination of rating variables in an insurance class plan;

the processor, configured to receive information associated with telematics data received from a telematics device, wherein the telematics data includes data associated with a plurality of risk factors;

the processor further configured to determine a driver telematics score (DTS) based on the information associated with the telematics data;

the processor further configured to generate an expectation based rating, based on the DPS and the DTS, which measures a variance of the received telematics data information from the initial risk profile;

the processor further configured to update pricing information based on the generated expectation based rating; and

a transmitter configured to transmit the updated pricing information to a user device or a user transmission device.

2 . The system of claim 1 , wherein at least one of the plurality of risk factors is total miles driven.

3 . The system of claim 1 , wherein at least one of the plurality of risk factors is speeding.

4 . The system of claim 3 , wherein speeding is measured relative to posted speed limits.

5 . The system of claim 3 , wherein speeding is measured relative to other vehicles travelling a route during similar times of day.

6 . The system of claim 1 , wherein the processor is further configured to provide a customer with an itemized list indicating a variance from the expected value for each risk factor.

7 . The system of claim 1 , wherein during a renewal period, the processor sets the measured values as the initial risk profile.

8 . The system of claim 1 , wherein at least one of the plurality of risk factors is cell phone use.

9 . The system of claim 1 , wherein at least one of the plurality of risk factors is driving at a predetermined time.

10 . A computer based method for determining insurance pricing information based on telematics data associated with a vehicle, the method comprising:

storing, by a computer memory, an initial risk profile for a driver of the vehicle based on a correlation between received biographical information of the driver and claim expected loss information, wherein the initial risk profile includes a plurality of risk factors and with associated expected scores for the driver;

generating, by a processor, a driver proxy score (DPS) based on a combination of rating variables in an insurance class plan;

receiving, by the processor, information associated with telematics data received from a telematics device, wherein the telematics data includes data associated with a plurality of risk factors;

determining, by the processor, a driver telematics score (DTS) based on the information associated with the telematics data;

generating, by the processor, an expectation based rating, based on the DPS and the DTS, which measures a variance of the received telematics data information from the initial risk profile;

updating, by the processor, pricing information based on the generated expectation based rating; and

transmitting, by a transmitter, updated pricing information to a user device or a user transmission device.

11 . The method of claim 10 , wherein the pricing information is adjusted during a renewal period.

12 . The method of claim 10 , further comprising initiating an adjustment of pricing information outside of a renewal period if the variance of the telematics data from the expected value exceeds a threshold.

13 . The method of claim 10 , further comprising displaying the updated pricing information on a display associated with the user device.

14 . The method of claim 10 , further comprising initiating an adjustment of pricing information based on the addition of another a vehicle.

15 . The method of claim 10 , wherein at least one of the plurality of risk factors is total miles driven.

16 . The method of claim 10 , wherein at least one of the plurality of risk factors is speeding.

17 . The method of claim 16 , wherein speeding is measured relative to posted speed limits.

18 . The method of claim 16 , wherein speeding is measured relative to other vehicles travelling a route during similar times of day.

19 . A system for determining insurance pricing information based on telematics data associated with a vehicle, the system comprising:

a computer memory configured to store an initial risk profile for a driver of the vehicle based on an insurance class plan responsive at least in part to expected claim loss information, wherein the class plan is based on a plurality of risk factors with associated expected scores for the driver;

a processor configured to generate at least one driver proxy risk factor score based on the insurance class plan;

the processor, configured to receive information associated with telematics data received from a telematics device, wherein the telematics data includes data associated with at least one of the risk factors in the class plan;

the processor further configured to generate an expectation based rating, responsive to the at least one driver proxy risk factor score and the telematics data information, which measures a variance of the received telematics data information associated with the at least one risk factor from the class plan expected risk factor scores; and

the processor further configured to update pricing information based on the generated expectation based rating.

20 . The system of claim 19 , wherein at least one of the plurality of risk factors is one of total miles driven, speeding and time of day.