PROVIDING INSURANCE DISCOUNTS BASED UPON USAGE OF TELEMATICS DATA-BASED RISK MITIGATION AND PREVENTION FUNCTIONALITY
A computer-implemented method of updating an auto insurance policy is provided. The method may include (1) determining that a customer's mobile device has a Telematics Application (“App”) installed on it, the Telematics App configured to (i) receive telematics data associated with another vehicle via a wireless communication broadcast; (ii) determine a travel event from analysis of the telematics data received, and (iii) generate a corrective action based upon the telematics data received or travel event determined that alleviates the risk of vehicle collision. The method may also include (2) monitoring, with the customer's permission, an amount or percentage of usage of the Telematics App on the customer's mobile device while the customer is driving in an insured vehicle; and (3) adjusting an insurance policy premium or discount based upon usage of the Telematics App to facilitate rewarding risk-averse drivers and encourage usage of risk mitigation or prevention technology.
1 - 20 . (canceled)
21 . A computer-implemented method of updating an auto insurance policy, the method comprising:
determining, by a computing device, whether an application is installed on a mobile device of a user, the application being configured to periodically broadcast, or direct the transmission of, data at least once during a predetermined time interval, the data being collected or generated by one or more sensors of the mobile device;
in response to the application being installed on the mobile device, determining, by the computing device, whether the application is active on the mobile device of the user every predetermined time interval;
in response to the application being active, determining, by the computing device, an amount of time or mileage-based usage of the application while the user is driving in a user vehicle; and
updating or adjusting, by the computing device, an insurance policy premium or discount based upon the amount of time or mileage-based usage.
22 . The computer-implemented method of claim 21 , wherein the data includes accelerometer data, GPS data, gyroscope data, and magnetometer data.
23 . The computer-implemented method of claim 21 , wherein the application is configured to periodically broadcast the data to nearby vehicles, mobile devices, or smart infrastructure.
24 . The computer-implemented method of claim 21 , further comprising determining, by the computing device, a usage amount that the application is being used on the mobile device while the user is driving based upon an amount of time of usage and/or a number of miles of usage.
25 . The computer-implemented method of claim 21 , further comprising:
generating, by the computing device and in response to determining that the application is inactive, a notification;
transmitting, by the computing device, the notification to the mobile device; and
updating or adjusting, by the computing device, the insurance policy premium or discount.
26 . The computer-implemented method of claim 21 , wherein the data is selected from one or more of, and not limited to all of:
a timestamp;
one or more sensor metrics indicative of braking motion of the user vehicle;
one or more sensor metrics indicative of acceleration motion of the user vehicle;
one or more sensor metrics indicative of cornering motion of the user vehicle;
one or more sensor metrics indicative of a direction of the user vehicle;
one or more sensor metrics indicative of a usage of the mobile device;
a battery level associated with the mobile device; and
a usage indicator associated with time-based or mileage-based usage of the mobile device and/or the application executing thereon.
27 . The computer-implemented method of claim 21 , wherein the application is further configured to (i) receive telematics data associated with at least one originating vehicle in a broadcast via wireless communication or data transmission, (ii) determine a travel event from an analysis of the telematics data, and (iii) generate a corrective action based upon the telematics data and/or the travel event.
28 . The computer-implemented method of claim 27 , wherein the corrective action includes generating, providing, or displaying an audible or visual alert or recommendation for the user.
29 . The computer-implemented method of claim 27 , wherein the corrective action includes calculating an alternate route to a destination that avoids the travel event and displaying the alternate route.
30 . The computer-implemented method of claim 27 , wherein the corrective action includes (i) receiving an alternate route that avoids the travel event; or (ii) re-routing the user vehicle while moving to avoid an area associated with the travel event.
31 . A computing device for updating an auto insurance policy, the computing device comprising:
a processor; and
a memory having a plurality of instructions stored thereon that, when executed by the processor, causes the computing device to:
determine whether an application is installed on a mobile device of a user, the application being configured to periodically broadcast, or direct the transmission of, data at least once during a predetermined time interval, the data being collected or generated by one or more sensors of the mobile device;
in response to the application being installed on the mobile device, determine whether the application is active on the mobile device of the user every predetermined time interval;
in response to the application being active, determine an amount of time or mileage-based usage of the application while the user is driving in a user vehicle; and
update or adjust an insurance policy premium or discount based upon the amount of time or mileage-based usage.
32 . The computing device of claim 31 , wherein the application is configured to periodically broadcast the data to nearby vehicles, mobile devices, or smart infrastructure.
33 . The computing device of claim 31 , wherein the plurality of instructions, when executed, further cause the computing device to:
generate, in response to determining that the application is inactive, a notification;
transmit the notification to the mobile device; and
update or adjust the insurance policy premium or discount.
34 . The computing device of claim 31 , wherein the data is selected from one or more of, and not limited to all of:
a timestamp;
one or more sensor metrics indicative of braking motion of the user vehicle;
one or more sensor metrics indicative of acceleration motion of the user vehicle;
one or more sensor metrics indicative of cornering motion of the user vehicle;
one or more sensor metrics indicative of a direction of the user vehicle;
one or more sensor metrics indicative of a usage of the mobile device;
a battery level associated with the mobile device; and
a usage indicator associated with time-based or mileage-based usage of the mobile device and/or the application executing thereon.
35 . The computing device of claim 31 , wherein the application is further configured to (i) receive telematics data associated with at least one originating vehicle in a broadcast via wireless communication or data transmission, (ii) determine a travel event from an analysis of the telematics data, and (iii) generate a corrective action based upon the telematics data and/or the travel event.
36 . The computing device of claim 35 , wherein the corrective action includes generating, providing, or displaying an audible or visual alert or recommendation for the user.
37 . The computing device of claim 35 , wherein the corrective action includes calculating an alternate route to a destination that avoids the travel event and displaying the alternate route.
38 . The computing device of claim 35 , wherein the corrective action includes (i) receiving an alternate route that avoids the travel event; or (ii) re-routing the user vehicle while moving to avoid an area associated with the travel event.
39 . A non-transitory computer-readable medium storing instructions for updating an auto insurance policy, the instructions when executed by one or more processors of a computing device, cause the computing device to:
determine whether an application is installed on a mobile device of a user, the application being configured to periodically broadcast, or direct the transmission of, data at least once during a predetermined time interval, the data being collected or generated by one or more sensors of the mobile device;
in response to the application being installed on the mobile device, determine whether the application is active on the mobile device of the user every predetermined time interval;
in response to the application being active, determine an amount of time or mileage-based usage of the application while the user is driving in a user vehicle; and
update or adjust an insurance policy premium or discount based upon the amount of time or mileage-based usage.
40 . The non-transitory computer-readable medium of claim 39 , wherein the instructions, when executed, further cause the computing device to:
generate, in response to determining that the application is inactive, a notification;
transmit the notification to the mobile device; and
update or adjust the insurance policy premium or discount.