Telematics Data Modeling for Adaptive Multimodal Insurance Coverage

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Solution Overview

Problem

Existing insurance policies fail to adequately cover diverse transportation modes and are inefficient in underwriting and customization based on user data, leading to inconvenient and inaccurate coverage.

Innovation Solution

A system and method that generates a model using historical user data to predict travel behavior and determine personalized insurance policies and premiums, incorporating telematics, location, and third-party data to offer precise coverage for various transportation modes.

Engineering Contradictions & Design Principles

VSEngineering Contradiction Analysis

1Adaptability or versatility

If conventional insurance policies are used, then coverage is provided for traditional vehicle ownership, but coverage is inadequate for diverse transportation modes including ride sharing, public transportation, and micro-mobility

Engineering Contradiction:

Improvecoverage scopeVSAvoidcoverage adequacy

Core Design Contradiction:

Adaptability or versatilityVSReliability

Solution Approach 1:

The insurance policy transitions from a static, fixed-coverage model to a dynamic, adaptable model that automatically adjusts coverage based on real-time transportation mode detection through telematics sensors and mobile device data, enabling the policy to cover diverse transportation modes including ride sharing, public transportation, and micro-mobility

Inventive Principle:

Principle #15Dynamics

Solution Approach 2:

The insurance policy is designed to provide universal coverage across multiple transportation modes and scenarios, functioning as a multi-functional solution that covers traditional vehicle ownership, ride sharing, public transportation, micro-mobility, and gaps in personal automobile policy coverage

Inventive Principle:

Principle #6Universality (Multi-functionality)

2Adaptability or versatility

If manual underwriting processes are used, then insurance policies can be customized, but the underwriting process becomes inefficient and time-consuming

Engineering Contradiction:

Improvepolicy customizationVSAvoidunderwriting efficiency

Core Design Contradiction:

Adaptability or versatilityVSProductivity

Solution Approach 1:

The underwriting process enables self-service through automated systems that collect, analyze, and process user data through telematics sensors and mobile devices, allowing the system to automatically generate personalized insurance policies without manual underwriting intervention while maintaining high customization levels

Inventive Principle:

Principle #25Self-service

Solution Approach 2:

The manual mechanical underwriting process is replaced with an automated electronic system that uses telematics data, mobile device information, and algorithmic analysis to perform underwriting functions, significantly improving efficiency while maintaining customization capabilities

Inventive Principle:

Principle #28Mechanics substitution (Replace mechanical system)

3Measurement precision

If comprehensive user data collection is implemented, then personalized insurance policies can be generated, but user input requirements increase

Engineering Contradiction:

Improvetravel behavior predictionVSAvoiduser input burden

Core Design Contradiction:

Measurement precisionVSEase of operation

Solution Approach 1:

The system automatically collects and processes user data through telematics sensors and mobile devices without requiring active user input, enabling precise travel behavior prediction while maintaining ease of operation through passive data collection mechanisms

Inventive Principle:

Principle #25Self-service

Solution Approach 2:

Telematics sensors and mobile devices serve as intermediaries that automatically gather user data and transportation mode information, eliminating the need for direct user input while enabling precise measurement of travel behavior for personalized policy generation

Inventive Principle:

Principle #24Intermediary (Mediator)

Data Source

PatentUS12400270B2Systems and methods for modeling telematics data

Publication Date: 2025.08.26 STATE FARM MUTAL AUTOMOBILE INSURANCE COMPANY

AI summary

Provided herein is a computing system that includes a processor in communication with a memory. The processor is configured to (1) receive a plurality of data records associated with a plurality of users that include historical user data; (2) generate a model based upon the plurality of data records, wherein the model (i) predicts travel behavior of a user, and/or (ii) outputs an insurance policy and associated premium for the user based upon the predicted travel behavior; (3) retrieve current user data associated with the candidate user; (4) apply the model to (i) determine a user trial travel behavior, and/or (ii) output a trial insurance policy and associated premium for the candidate user; and/or (5) transmit a notification to the user computing device that includes a prompt for the user to register for the insurance policy.