Driver Risk Scoring From Sensor-Based Driving Behavior Data
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Solution Overview
Problem
Current insurance systems fail to quantify and differentiate individual insurance risk based on real-time driving behavior and environment, lacking the ability to generate data representative of actual vehicle operation and provide personalized risk assessments and feedback to drivers.
Innovation Solution
A computer-implemented method and system that receives personal and vehicle sensor data to generate individual insurance risk data, utilizing modules for data collection, transmission, and analysis to provide real-time risk assessments and feedback, enabling enhanced insurance models and services such as usage-based insurance and on-demand auto insurance.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Adaptability or versatility
If traditional insurance systems are used, then insurance risk is not quantified or differentiated for individual drivers, but this results in inability to provide personalized risk assessments and pricing
Solution Approach 1:
The patent segments insurance risk assessment from general population-level assessment to individual driver-level assessment by collecting and analyzing personal electronic device sensor data and vehicle sensor data for each driver separately, enabling personalized risk quantification
Solution Approach 2:
The patent introduces personal electronic devices (smartphones, tablets) as intermediaries that collect driving behavior data through sensors and transmit this data to insurance providers, bridging the gap between individual drivers and insurance assessment systems
2Measurement precision
If real-time driving behavior data collection is implemented, then personalized insurance models can be created, but this increases system complexity and data processing requirements
Solution Approach 1:
The patent leverages multi-functional personal electronic devices that already possess various sensors (accelerometers, gyroscopes, GPS) for other purposes, repurposing these existing capabilities for driving behavior monitoring without requiring dedicated specialized hardware
Solution Approach 2:
The system utilizes sensors already present in personal electronic devices and vehicles to automatically collect driving behavior data without requiring additional external measurement equipment, making the data collection self-sufficient
Data Source
AI summary
The present disclosure generally relates to systems and methods for generating data representative of an individual's insurance risk based on actual driving behaviors and driving environment. The systems and methods may include collecting data from personal electronic device sensors, vehicle sensors, driver inputs, environment sensors and interactions of the vehicle, the driver and the environment. The systems and methods may further include analyzing the data to generate data representative of an individual insurance risk. The systems and methods may further include presenting the data representative of the individual insurance risk to an individual.