Consumer Device Protection Plans Using Usage-Based Risk Detection
Find Innovative SolutionsGenerate Solutions
Solution Overview
Problem
Existing insurance and protection plans for consumer electronics devices do not account for the actual use of the devices or consumer tendencies, leading to inefficient pricing and coverage.
Innovation Solution
Systems and methods that utilize sensors within consumer electronics devices to detect usage patterns, assess risk scenarios, and generate customized insurance or protection plans based on device health, user behavior, and depreciation, offering discounted rates when appropriate.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Reliability
If conventional insurance plans are based on retail price or replacement cost, then coverage is provided, but pricing is inefficient and does not reflect actual device usage or risk
Solution Approach 1:
The patent changes the pricing parameters from static retail price or replacement cost to dynamic parameters including actual device usage data, sensor-collected condition data, and risk-based factors. This allows insurance pricing to reflect the true state and usage patterns of the device, improving coverage accuracy while maintaining manageable complexity through automated data collection and analysis.
2Adaptability or versatility
If insurance plans are customized based on device usage and condition, then pricing efficiency and coverage relevance improve, but system complexity increases
Solution Approach 1:
The system enables self-service by having the device itself collect and report usage data through integrated sensors and processors. The device automatically monitors its own condition, tracks usage patterns, and transmits this data to the insurance system, eliminating the need for manual reporting and reducing overall system complexity while enabling高度 customization.
Solution Approach 2:
The patent implements feedback loops where sensor data from the device continuously informs insurance pricing and coverage adjustments. The system collects data on device condition, usage patterns, and environmental factors, then uses this feedback to dynamically adjust insurance terms, creating a responsive system that adapts to actual device states without requiring complex manual intervention.
3Measurement precision
If sensor data is collected to monitor device condition and usage, then risk assessment improves, but energy consumption and device complexity increase
Solution Approach 1:
The system applies partial monitoring by selectively activating sensors based on device state and insurance requirements. Not all sensors run continuously at full capacity; instead, the system activates monitoring at appropriate intervals and only when relevant to risk assessment, achieving sufficient measurement precision while minimizing energy consumption through selective and intermittent data collection.
Data Source
AI summary
Systems and methods are disclosed herein that can detect at least one activity by parsing text from an operation of a consumer electronics device and determine that the at least one activity matches a risk scenario. The at least one activity may be identified by the at least one processor as occurring in the future.