Granted Patent B2

US 12,217,313 · App. 18/173,421 · Granted Feb 4, 2025

Inventors: Ryan Michael Gross (Normal, IL); Jody Ann Thoele (Bloomington, IL); Joseph Robert Brannan (Bloomington, IL); Eric R. Moore (Heyworth, IL)

Assignee: State Farm Mutual Automobile Insurance Company

G06Q40/08G06F3/0482G06Q10/10G06Q50/14G06Q50/26G06Q50/40G09B19/00G06N20/00G06Q30/0645

Abstract

Claims (86)

1. An on-demand insurance (ODI) server comprising at least one processor coupled to a memory device and a communication interface, the at least one processor operable to execute a risk assessment module and a pricing module, the at least one processor configured to:

generate a user profile associated with a user by processing telematics data received using the communication interface from a user computing device associated with the user;

determine, based upon the user profile, a plurality of transportation modes available for a trip to be taken by the user;

receive, using the communication interface, real-time contextual data associated with the trip and the user profile;

train one or more machine learning tools using the real-time contextual data;

generate, by executing the risk assessment module and based upon at least the real-time contextual data and the user profile, at least one risk score, each associated with use of one of the plurality of transportation modes;

generate, using the at least one risk score, a dynamic pricing model associated with the plurality of transportation modes and at least one travel route to be taken by the user during the trip;

apply, by executing the pricing module, the trained one or more machine learning tools to the dynamic pricing model to generate an insurance offering;

generate, by executing the pricing module and based upon the application of the trained the one or more machine learning tools to the dynamic pricing model, an insurance offering associated with the use of at least one of the plurality of transportation modes; and

transmit, using the communication interface, the insurance offering in real time to the user computing device for purchase by the user.

2. The ODI server of claim 1 , wherein the at least one processor is further configured to receive, from the user computing device, an insurance policy request for the trip, the insurance policy request including trip data and a user identifier associated with the user.

3. The ODI server of claim 2 , wherein the at least one processor is further configured to determine the at least one transportation mode based upon the insurance policy request.

4. The ODI server of claim 1 , wherein the real-time contextual data includes at least one of weather data, age of the user, data associated with a start location of the trip, or data associated with an end location of the trip.

5. The ODI server of claim 1 , wherein the at least one processor is further configured to:

determine the plurality of transportation modes available for the trip by accessing transportation data associated with the trip;

generate a plurality of risk scores, each generated for each of the plurality of transportation modes;

compare the generated risk scores to one another;

rank, based upon the comparison, the plurality of transportation modes based upon the generated risk scores;

generate, based upon an associated rank, a plurality of insurance offerings, each generated for each of the plurality of transportation modes, wherein each insurance offering includes a price corresponding to the associated rank; and

transmit the plurality of insurance offerings to the user computing device for selection by the user.

6. The ODI server of claim 1 , wherein the at least one processor is further configured to:

provide, on a user interface of the user computing device, an interactive page including an electronic map configured to detect a current location of the user computing device and enable input of a start location of the trip and a destination location of the trip;

in response to selection of the start location of the trip and the destination location of the trip, cause display, on the user interface, of (i) the at least one travel route on the electronic map and (ii) a submit request control to submit an insurance offering request;

in response to selection of the submit request control, generate an additional insurance offering; and

cause display, on the user interface, of the additional insurance offering.

7. The ODI server of claim 1 , wherein the at least one processor is further configured to:

provide, on a user interface of the user computing device, an interactive page including a plurality of selectable options configured to display the plurality of transportation modes;

in response to selection of the at least one transportation mode, generate the insurance offering associated with the use of the at least one transportation mode; and

cause display, on the user interface, of the insurance offering.

8. A computer-implemented method for generating dynamic user offerings, the method implemented by an on-demand insurance (ODI) server including at least one processor coupled to a memory device and a communication interface, the at least one processor operable to execute a risk assessment module and a pricing module, the method comprising:

generating a user profile associated with a user by processing telematics data received using the communication interface from a user computing device associated with the user;

determining, based upon the user profile, a plurality of transportation modes available for a trip to be taken by the user;

receiving, using the communication interface, real-time contextual data associated with the trip and the user profile;

training one or more machine learning tools using the real-time contextual data;

generating, by executing the risk assessment module and based upon at least the real-time contextual data and the user profile, at least one risk score, each associated with use of one of the plurality of transportation modes;

generating, using the at least one risk score, a dynamic pricing model associated with the plurality of transportation modes and at least one travel route to be taken by the user during the trip;

applying, by executing the pricing module, the trained one or more machine learning tools to the dynamic pricing model to generate an insurance offering;

generating, by executing the pricing module and based upon the application of the trained the one or more machine learning tools to the dynamic pricing model, an insurance offering associated with the use of at least one of the plurality of transportation modes; and

transmitting, using the communication interface, the insurance offering in real time to the user computing device for purchase by the user.

9. The computer-implemented method of claim 8 further comprising receiving, from the user computing device, an insurance policy request for the trip, the insurance policy request including trip data and a user identifier associated with the user.

10. The computer-implemented method of claim 9 further comprising determining the at least one transportation mode based upon the insurance policy request.

11. The computer-implemented method of claim 8 , wherein the real-time contextual data includes at least one of weather data, age of the user, data associated with a start location of the trip, or data associated with an end location of the trip.

12. The computer-implemented method of claim 8 further comprising:

determining the plurality of transportation modes available for the trip by accessing transportation data associated with the trip;

generating a plurality of risk scores, each generated for each of the plurality of transportation modes;

comparing the generated risk scores to one another;

ranking, based upon the comparison, the plurality of transportation modes based upon the generated risk scores;

generating, based upon an associated rank, a plurality of insurance offerings, each generated for each of the plurality of transportation modes, wherein each insurance offering includes a price corresponding to the associated rank; and

transmitting the plurality of insurance offerings to the user computing device for selection by the user.

13. The computer-implemented method of claim 8 further comprising:

providing, on a user interface of the user computing device, an interactive page including an electronic map configured to detect a current location of the user computing device and enable input of a start location of the trip and a destination location of the trip;

in response to selection of the start location of the trip and the destination location of the trip, causing display, on the user interface, of (i) the at least one travel route on the electronic map and (ii) a submit request control to submit an insurance offering request;

in response to selection of the submit request control, generating an additional insurance offering; and

causing display, on the user interface, of the additional insurance offering.

14. The computer-implemented method of claim 8 further comprising:

providing, on a user interface of the user computing device, an interactive page including a plurality of selectable options configured to display the plurality of transportation modes;

in response to selection of the at least one transportation mode, generating the insurance offering associated with the use of the at least one transportation mode; and

causing display, on the user interface, of the insurance offering.

15. A non-transitory computer-readable storage medium having computer-executable instructions embodied thereon, wherein when executed by an on-demand insurance (ODI) server including at least one processor coupled to a memory device and a communication interface, the at least one processor operable to execute a risk assessment module and a pricing module, the computer-executable instructions cause the at least one processor to:

generate a user profile associated with a user by processing telematics data received using the communication interface from a user computing device associated with the user;

determine, based upon the user profile, a plurality of transportation modes available for a trip to be taken by the user;

receive, using the communication interface, real-time contextual data associated with the trip and the user profile;

train one or more machine learning tools using the real-time contextual data;

generate, by executing the risk assessment module and based upon at least the real-time contextual data and the user profile, at least one risk score, each associated with use of one of the plurality of transportation modes;

generate, using the at least one risk score, a dynamic pricing model associated with the plurality of transportation modes and at least one travel route to be taken by the user during the trip;

apply, by executing the pricing module, the trained one or more machine learning tools to the dynamic pricing model to generate an insurance offering;

generate, by executing the pricing module and based upon the application of the trained the one or more machine learning tools to the dynamic pricing model, an insurance offering associated with the use of at least one of the plurality of transportation modes; and

transmit, using the communication interface, the insurance offering in real time to the user computing device for purchase by the user.

16. The non-transitory computer-readable storage medium of claim 15 , wherein the computer-executable instructions further cause the at least one processor to receive, from the user computing device, an insurance policy request for the trip, the insurance policy request including trip data and a user identifier associated with the user.

17. The non-transitory computer-readable storage medium of claim 15 , wherein the real-time contextual data includes at least one of weather data, age of the user, data associated with a start location of the trip, or data associated with an end location of the trip.

18. The non-transitory computer-readable storage medium of claim 15 , wherein the computer-executable instructions further cause the at least one processor to:

determine the plurality of transportation modes available for the trip by accessing transportation data associated with the trip;

generate a plurality of risk scores, each generated for each of the plurality of transportation modes;

compare the generated risk scores to one another;

rank, based upon the comparison, the plurality of transportation modes based upon the generated risk scores;

generate, based upon an associated rank, a plurality of insurance offerings, each generated for each of the plurality of transportation modes, wherein each insurance offering includes a price corresponding to the associated rank; and

transmit the plurality of insurance offerings to the user computing device for selection by the user.

19. The non-transitory computer-readable storage medium of claim 15 , wherein the computer-executable instructions further cause the at least one processor to:

provide, on a user interface of the user computing device, an interactive page including an electronic map configured to detect a current location of the user computing device and enable input of a start location of the trip and a destination location of the trip;

in response to selection of the start location of the trip and the destination location of the trip, cause display, on the user interface, of (i) the at least one travel route on the electronic map and (ii) a submit request control to submit an insurance offering request;

in response to selection of the submit request control, generate an additional insurance offering; and

cause display, on the user interface, of the additional insurance offering.

20. The non-transitory computer-readable storage medium of claim 15 , wherein the computer-executable instructions further cause the at least one processor:

provide, on a user interface of the user computing device, an interactive page including a plurality of selectable options configured to display the plurality of transportation modes;

in response to selection of the at least one transportation mode, generate the insurance offering associated with the use of the at least one transportation mode; and

cause display, on the user interface, of the insurance offering.

Assignments (1)

Continuity (4)

References Cited (65)