SYSTEMS AND METHODS FOR GENERATING ON-DEMAND INSURANCE POLICIES
An on-demand insurance (ODI) server for generating dynamic user offerings may be provided. The ODI server may include at least one processor in communication with a memory device. The at least one processor may be programmed to (i) receive, from a user computing device associated with a user, an insurance policy request for a trip from a start location to an end location, (ii) determine at least one transportation mode available for the trip, (iii) access contextual data associated with the trip, (iv) assess a risk associated with the at least one transportation mode, (v) calculate a risk score associated with the at least one transportation mode based upon at least the contextual data, (vi) generate an insurance offering associated with the at least one transportation mode, and/or (vii) transmit the insurance offering in real time to the user computing device for purchase by the user.
1 . A computer system for remotely tracking vehicle usage for applying different insurance policy coverages, the computer system comprising:
an on-demand insurance (ODI) server comprising at least one processor in communication with at least one memory device, the at least one processor configured to:
generate, using historical telematics data received from one or more user computing devices associated with a user and a vehicle driven by the user, a user profile for the user, the user profile indicative of driving behavior of the user while driving the vehicle, the user profile stored in the at least one memory device;
determine, using a communication link with a peer-to-peer (P2P) car-sharing platform, that the vehicle associated with the user has been added to the P2P car-sharing platform;
receive, from a computing device associated with the P2P car-sharing platform, vehicle listing information associated with the user, the vehicle listing information including a user identifier associated with the user, and a listing date range indicating when the vehicle is available to rent;
receive, from the one or more user computing devices, telematics data associated with the vehicle and the user;
electronically compare the received telematics data to the user profile stored within the at least one memory device to determine whether the user has driven the vehicle for at least a predetermined period of time;
in response to determining that the user has not driven the vehicle for at least the predetermined period of time and determining that a current date is within the listing date range, determine that the vehicle is actively listed for rent on the P2P car-sharing platform;
in response to determining that the vehicle is actively listed on the P2P car sharing platform, perform a lookup within the at least one memory device to (i) determine that a personal automobile insurance policy associated with the vehicle should be deactivated because the vehicle is actively listed for rent on the P2P car-sharing platform and (ii) determine that a personal mobility policy associated with the user should be activated;
continuously monitor newly received telematics data associated with the vehicle and the user to determine (i) that the vehicle is no longer actively listed for rent on the P2P car-sharing platform to deactivate the personal mobility policy and (ii) that the personal automobile insurance policy should be re-activated; and
an insurance provider computing device configured to:
automatically activate proper insurance policy coverages associated with the vehicle and the user by (i) deactivating the personal automobile insurance policy associated with the user and (ii) activating the personal mobility policy associated with the user.
2 . The computer system of claim 1 , wherein the at least one processor is further configured to:
receive a confirmation message from the insurance provider computing device in response to transmitting the instructions; and
update the user profile by including information received in the confirmation message.
3 . The computer system of claim 1 , wherein the at least one processor is further configured to:
generate a car-sharing insurance policy for the user;
transmit the car-sharing insurance policy to the one or more user computing devices associated with the user; and
activate the car-sharing insurance policy upon receiving a user selection to purchase the car-sharing insurance policy.
4 . The computer system of claim 1 , wherein the at least one processor is further configured to periodically perform a status check to determine whether the vehicle remains listed for rent on the P2P car-sharing platform.
5 . The computer system of claim 1 , wherein the at least one processor is further configured to:
in response to determining that the user has not used the vehicle for at least the predetermined period of time, transmit a confirmation request message to at least one of the one or more user computing devices of the user or the computing device associated with the P2P car-sharing platform, the confirmation request message requesting to confirm whether the vehicle is listed for rent on the P2P car-sharing platform; and
in response to determining that the vehicle remains listed for rent on the P2P car-sharing platform, update a log with a data entry indicating a status check, the data entry including a date and time associated with the status check.
6 . The computer system of claim 1 , wherein when the at least one processor determines that the vehicle is no longer listed for rent on the P2P car-sharing platform, the at least one processor is further configured to transmit, to the insurance provider computing device, additional instructions to (i) reinstate the personal automobile insurance policy associated with the user and (ii) suspend the personal mobility policy associated with the user.
7 . The computer system of claim 1 , wherein the at least one processor is further configured to:
receive, from the one or more user computing devices, contextual data associated with the vehicle; and
generate the user profile for the user using the contextual data, the user profile including information associated with (i) the personal automobile insurance policy and (ii) the personal mobility policy.
8 . A computer-implemented method for remotely tracking vehicle usage for applying different insurance policy coverages, the method implemented by a computer system including (i) an on-demand insurance (ODI) server that includes at least one processor in communication with at least one memory device and (ii) an insurance provider computing device, the method comprising:
generating, by the at least one processor using historical telematics data received from one or more user computing devices associated with a user and a vehicle driven by the user, a user profile for the user, the user profile indicative of driving behavior of the user while driving the vehicle, the user profile stored in the at least one memory device;
determining, by the at least one processor using a communication link with a peer-to-peer (P2P) car-sharing platform that the vehicle associated with the user has been added to the P2P car-sharing platform;
receiving, by the at least one processor from a computing device associated with the P2P car-sharing platform, vehicle listing information associated with the user, the vehicle listing information including a user identifier associated with the user, and a listing date range indicating when the vehicle is available to rent;
receiving, by the at least one processor from the one or more user computing devices, telematics data associated with the vehicle and the user;
electronically comparing, by the at least one processor, the received telematics data to the user profile stored within the at least one memory device to determine whether the user has driven the vehicle for at least a predetermined period of time;
in response to determining that the user has not driven the vehicle for at least the predetermined period of time and determining that a current date is within the listing date range, determining, by the at least one processor, that the vehicle is actively listed for rent on the P2P car-sharing platform;
in response to determining that the vehicle is actively listed on the P2P car sharing platform, performing, by the at least one processor, a lookup within the at least one memory device to (i) determine that a personal automobile insurance policy associated with the vehicle should be deactivated because the vehicle is actively listed for rent on the P2P car-sharing platform and (ii) determine that a personal mobility policy associated with the user has to should be activated;
continuously monitoring, by the at least processor, newly received telematics data associated with the vehicle and the user to determine (i) that the vehicle is no longer actively listed for rent on the P2P car-sharing platform to deactivate the personal mobility policy and (ii) that the personal automobile insurance policy should be re-activated; and
automatically activating, by the insurance provider computing device, proper insurance policy coverages associated with the vehicle and the user by (i) deactivating the personal automobile insurance policy associated with the user and (ii) activating the personal mobility policy associated with the user.
9 . The computer-implemented method of claim 8 further comprising:
receiving a confirmation message from the insurance provider in response to transmitting the instructions; and
updating the user profile by including information received in the confirmation message.
10 . The computer-implemented method of claim 8 further comprising:
generating a car-sharing insurance policy for the user;
transmitting the car-sharing insurance policy to the one or more user computing devices associated with the user; and
activating the car-sharing insurance policy upon receiving a user selection to purchase the car-sharing insurance policy.
11 . The computer-implemented method of claim 8 further comprising periodically performing a status check to determine whether the vehicle remains listed for rent on the P2P car-sharing platform.
12 . The computer-implemented method of claim 8 further comprising:
in response to determining that the user has not used the vehicle for at least the predetermined period of time, transmitting a confirmation request message to at least one of the one or more user computing devices of the user or the computing device associated with the P2P car-sharing platform, the confirmation request message requesting to confirm whether the vehicle is listed for rent on the P2P car-sharing platform; and
in response to determining that the vehicle remains listed for rent on the P2P car-sharing platform, updating a log with a data entry indicating a status check, the data entry including a date and time associated with the status check.
13 . The computer-implemented method of claim 8 further comprising:
in response to determining that the vehicle is no longer listed for rent on the P2P car-sharing platform, transmitting, to the insurance provider computing device, instructions to (i) reinstate the personal automobile insurance policy associated with the user and (ii) suspend the personal mobility policy associated with the user.
14 . The computer-implemented method of claim 8 further comprising:
receiving, from the one or more user computing devices, contextual data associated with the vehicle; and
generating the user profile for the user using the contextual data, the user profile including information associated with (i) the personal automobile insurance policy and (ii) the personal mobility policy.
15 . A first non-transitory computer-readable storage medium having first computer-executable instructions embodied thereon, when executed by an on-demand insurance (ODI) server having at least one processor in communication with at least one memory device, the first computer-executable instructions cause the at least one processor to:
generate, using historical telematics data received from one or more user computing devices associated with a user and a vehicle driven by the user, a user profile for the user, the user profile indicative of driving behavior of the user while driving the vehicle, the user profile stored in the at least one memory device;
determine, using a communication link with a peer-to-peer (P2P) car-sharing platform, that the vehicle associated with the user has been added to the P2P car-sharing platform;
receive, from a computing device associated with the P2P car-sharing platform, vehicle listing information associated with the user, the vehicle listing information including a user identifier associated with the user, and a listing date range indicating when the vehicle is available to rent;
receive, from the one or more user computing devices, telematics data associated with the vehicle and the user;
electronically compare the received telematics data to the user profile stored within the at least one memory device to determine whether the user has driven the vehicle for at least a predetermined period of time;
in response to determining that the user has not driven the vehicle for at least the predetermined period of time and determining that a current date is within the listing date range, determine that the vehicle is actively listed for rent on the P2P car-sharing platform;
in response to determining that the vehicle is actively listed on the P2P car sharing platform, perform a lookup within the at least one memory device to (i) determine that a personal automobile insurance policy associated with the vehicle should be deactivated because the vehicle is actively listed for rent on the P2P car-sharing platform and (ii) determine that a personal mobility policy associated with the user should be activated;
and
continuously monitor newly received telematics data associated with the vehicle and the user to determine (i) that the vehicle is no longer actively listed for rent on the P2P car-sharing platform to deactivate the personal mobility policy and (ii) that the personal automobile insurance policy should be re-activated; and
a second non-transitory computer-readable storage medium having second computer-executable instructions embodied thereon, when executed by an insurance provider computing device, the second computer-executable instructions cause the insurance provider computing device to:
automatically activate proper insurance policy coverages associated with the vehicle and the user by (i) deactivating the personal automobile insurance policy associated with the user and (ii) activating the personal mobility policy associated with the user.
16 . The first non-transitory computer-readable storage medium of claim 15 , wherein the first computer-executable instructions further cause the at least one processor to:
receive a confirmation message from the insurance provider computing device in response to transmitting the instructions; and
update the user profile by including information received in the confirmation message.
17 . The first non-transitory computer-readable storage medium of claim 15 , wherein the first computer-executable instructions further cause the at least one processor to:
generate a car-sharing insurance policy for the user;
transmit the car-sharing insurance policy to the one or more user computing devices associated with the user; and
activate the car-sharing insurance policy upon receiving a user selection to purchase the car-sharing insurance policy.
18 . The first non-transitory computer-readable storage medium of claim 15 , wherein the first computer-executable instructions further cause the at least one processor to periodically perform a status check to determine whether the vehicle remains listed for rent on the P2P car-sharing platform.
19 . The first non-transitory computer-readable storage medium of claim 15 , wherein the first computer-executable instructions further cause the at least one processor to:
in response to determining that the user has not used the vehicle for at least the predetermined period of time, transmit a confirmation request message to at least one of the one or more user computing devices of the user or the computing device associated with the P2P car-sharing platform, the confirmation request message requesting to confirm whether the vehicle is listed for rent on the P2P car-sharing platform; and
in response to determining that the vehicle remains listed for rent on the P2P car-sharing platform, update a log with a data entry indicating a status check, the data entry including a date and time associated with the status check.
20 . The first non-transitory computer-readable storage medium of claim 15 , wherein the first computer-executable instructions further cause the at least one processor to, in response to determining that the vehicle is no longer listed for rent on the P2P car-sharing platform, transmit, to the insurance provider computing device, further instructions to (i) reinstate the personal automobile insurance policy associated with the user and (ii) suspend the personal mobility policy associated with the user.