Autonomous Parking Risk Assessment for Insurance Pricing
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Solution Overview
Problem
Existing insurance premium determination methods do not account for the use of autonomous vehicle operating features, leading to inadequate risk assessment and pricing for vehicles with autonomous operation capabilities.
Innovation Solution
A system and method that utilizes sensors and computer systems to enhance vehicle operation safety by determining environmental hazards, finding protected parking locations, and adjusting insurance policies based on autonomous operation features, including steering, accelerating, and parking, thereby improving risk assessment and premium determination.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Reliability
If traditional insurance premium determination methods are used, then insurance coverage is provided, but risk assessment is inadequate for vehicles with autonomous operation capabilities
Solution Approach 1:
The system performs preliminary assessment of autonomous vehicle features and their usage patterns before determining insurance premiums. Sensors continuously collect data on autonomous operation status, environmental hazard detection, and parking location information, which are then used to adjust premiums in advance rather than relying on traditional static pricing models.
Solution Approach 2:
The insurance pricing system incorporates continuous feedback from sensor data regarding autonomous feature usage. The system monitors whether autonomous steering, accelerating, or parking features are activated, and uses this feedback to dynamically adjust risk assessment and premium determination, creating a closed-loop system that improves accuracy over time.
2Adaptability or versatility
If autonomous operation features are monitored and used to adjust premiums, then personalized insurance discounts are provided, but system complexity increases
Solution Approach 1:
The system uses a multi-functional sensor array that serves both autonomous vehicle operation and insurance assessment purposes. The same sensors that detect environmental hazards and navigate parking locations also collect data for risk assessment, eliminating the need for separate monitoring hardware and reducing overall system complexity.
Solution Approach 2:
The patent combines autonomous vehicle control functions with insurance data collection functions into a unified system. The computer system that controls autonomous steering, accelerating, and parking simultaneously monitors and records usage patterns for insurance premium determination, merging two previously separate systems into one integrated platform.
3Reliability
If sensors and computer systems are used to enhance vehicle operation safety, then vehicle safety is improved, but device complexity increases
Solution Approach 1:
The sensor system performs multiple functions simultaneously: detecting environmental hazards for safety, identifying protected parking locations, and collecting data for insurance assessment. This multi-functionality reduces the need for separate dedicated sensors for each purpose, thereby managing complexity while improving safety.
Solution Approach 2:
The autonomous vehicle system automatically monitors its own operation status, safety conditions, and feature usage without requiring external intervention. The computer system self-regulates by processing sensor data to control vehicle functions and simultaneously generates insurance assessment data, reducing the complexity of external monitoring infrastructure.
Data Source
AI summary
Methods and systems for monitoring use, determining risk, and pricing insurance policies for a vehicle having one or more autonomous or semi-autonomous operation features are provided. According to certain aspects, the operating status of the features, the identity of a vehicle operator, risk levels for operation of the vehicle by the vehicle operator, or damage to the vehicle may be determined based upon sensor or other data. According to further aspects, decisions regarding transferring control between the features and the vehicle operator may be made based upon sensor data and information regarding the vehicle operator. Additional aspects may recommend or install updates to the autonomous operation features based upon determined risk levels. Some aspects may include monitoring transportation infrastructure and communicating information about the infrastructure to vehicles.