U.S. patent application number 17/739983 was filed with the patent office on 2022-08-18 for systems and methods for managing insurance premiums based upon peer-to-peer property sharing.
The applicant listed for this patent is State Farm Mutual Automobile Insurance Company. Invention is credited to Joseph Robert Brannan, Ryan Michael Gross, Brian N. Harvey, Aaron Williams, J Lynn Wilson.
Application Number | 20220261924 17/739983 |
Document ID | / |
Family ID | |
Filed Date | 2022-08-18 |
United States Patent
Application |
20220261924 |
Kind Code |
A1 |
Brannan; Joseph Robert ; et
al. |
August 18, 2022 |
SYSTEMS AND METHODS FOR MANAGING INSURANCE PREMIUMS BASED UPON
PEER-TO-PEER PROPERTY SHARING
Abstract
A computing device for analyzing data from a property sharing
platform may be provided. The computing device may include a
processor in communication with a memory device and the property
sharing platform. The processor may be programmed to (i) receive a
plurality of property data associated with commercial transactions
of a plurality of properties, (ii) organize the received property
data in a plurality of data records by date, (iii) identify
patterns in the subset of property data for a selected property for
a predetermined period of time, the patterns indicating when the
selected property was used for commercial purposes during the
predetermined period of time, and (iv) transmit content to a client
device including the identified patterns and a percentage of time
the selected property was used for commercial purposes during the
predetermined period of time.
Inventors: |
Brannan; Joseph Robert;
(Bloomington, IL) ; Gross; Ryan Michael; (Normal,
IL) ; Harvey; Brian N.; (Bloomington, IL) ;
Williams; Aaron; (Congerville, IL) ; Wilson; J
Lynn; (Normal, IL) |
|
Applicant: |
Name |
City |
State |
Country |
Type |
State Farm Mutual Automobile Insurance Company |
Bloomington |
IL |
US |
|
|
Appl. No.: |
17/739983 |
Filed: |
May 9, 2022 |
Related U.S. Patent Documents
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Application
Number |
Filing Date |
Patent Number |
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16413245 |
May 15, 2019 |
11328363 |
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17739983 |
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62821862 |
Mar 21, 2019 |
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International
Class: |
G06Q 40/08 20060101
G06Q040/08; G06Q 30/04 20060101 G06Q030/04 |
Claims
1. A computing device for analyzing data from a property sharing
platform, the computing device comprising at least one processor in
communication with at least one memory device and the property
sharing platform, wherein the at least one processor is programmed
to: receive a plurality of property data associated with commercial
transactions of a plurality of properties, wherein the property
data is utilized by the property sharing platform and includes a
length of time that each property of the plurality of properties
was used for commercial purposes under respective terms of the
commercial transactions; organize the received property data in a
plurality of data records by date, wherein each data record is
associated with one property of the plurality of properties and
includes a subset of property data for the respective property;
identify patterns in the subset of property data for a selected
property for a predetermined period of time, the patterns
indicating when the selected property was used for commercial
purposes during the predetermined period of time; and transmit
content to a client device including the identified patterns and a
percentage of time the selected property was used for commercial
purposes during the predetermined period of time.
2. The computing device of claim 1, wherein the at least one
processor is further programmed to: obtain an access token from the
property sharing platform; and use the obtained access token to
retrieve the plurality of property data from the property sharing
platform.
3. The computing device of claim 1, wherein the property sharing
platform is in communication with an insurance provider computing
device, and wherein the client device is the insurance provider
computing device.
4. The computing device of claim 1, wherein the selected property
is at least one of a vehicle, a residence, a boat, and an RV.
5. The computing device of claim 4, wherein the selected property
is a vehicle, and wherein the at least one processor is further
programmed to: determine a number of miles driven by an owner of
the vehicle annually by subtracting a number of miles driven by
renters when the vehicle is driven commercially from a total number
of miles driven annually; compare the determined number of miles
driven by the owner annually to an original annual mileage bracket
of an insurance policy of the owner; determine if the owner is in a
lower annual mileage bracket based upon the comparison; assign the
owner to a lower annual mileage bracket of the insurance policy;
and process an adjusted insurance premium for the owner based upon
a difference between an insurance premium of the original annual
mileage bracket and an insurance premium of the lower annual
mileage bracket.
6. The computing device of claim 5, wherein the at least one
processor is further programmed to: receive telematics data from
the vehicle or mobile data from a mobile communications device of a
renter of the vehicle; and determine usage data for the vehicle
using the telematics data or the mobile data of the renter
including determining at least one of a time when the renter enters
and exits the vehicle, a quality of driving of the renter, a
driving score of the renter, and an amount of miles driven by the
renter.
7. The computing device of claim 1, wherein the at least one
processor is further programmed to: utilize at least one of machine
learning and artificial intelligence techniques to identify
additional patterns in the subset of property data for the selected
property; generate, based upon the additional patterns, a plurality
of suggestions for subsequent commercial transactions for an owner
of the selected property, the suggestions configured to correct
issues in the subsequent commercial transactions; and transmit the
plurality of suggestions to a user device of the owner.
8. The computing device of claim 1, wherein the at least one
processor is further programmed to: process one or more adjusted
insurance premiums for an owner of the selected property based upon
the percentage of time that the selected property is used for
commercial purposes during the predetermined period of time, and
wherein the one or more adjusted insurance premiums includes (i)
one or more reimbursements of a portion of the insurance premium to
the owner, (ii) one or more credits toward an insurance bill for a
subsequent insurance billing cycle, and (iii) a direct deposit into
a financial account of the owner.
9. A computer-implemented method for analyzing data from a property
sharing platform, the method implemented using a computing device
including at least one processor in communication with at least one
memory device and the property sharing platform, the method
comprising: receiving a plurality of property data associated with
commercial transactions of a plurality of properties, wherein the
property data is utilized by the property sharing platform and
includes a length of time that each property of the plurality of
properties was used for commercial purposes under respective terms
of the commercial transactions; organizing the received property
data in a plurality of data records by date, wherein each data
record is associated with one property of the plurality of
properties and includes a subset of property data for the
respective property; identifying patterns in the subset of property
data for a selected property for a predetermined period of time,
the patterns indicating when the selected property was used for
commercial purposes during the predetermined period of time; and
transmitting content to a client device including the identified
patterns and a percentage of time the selected property was used
for commercial purposes during the predetermined period of
time.
10. The computer-implemented method of claim 9, wherein the method
further comprises: obtaining an access token from the property
sharing platform; and using the obtained access token to retrieve
the plurality of property data from the property sharing
platform.
11. The computer-implemented method of claim 9, wherein the
property sharing platform is in communication with an insurance
provider computing device, and wherein the client device is the
insurance provider computing device.
12. The computer-implemented method of claim 9, wherein the
selected property is at least one of a vehicle, a residence, a
boat, and an RV.
13. The computer-implemented method of claim 12, wherein the
selected property is a vehicle, and wherein the method further
comprises: determining a number of miles driven by an owner of the
vehicle annually by subtracting a number of miles driven by renters
when the vehicle is driven commercially from a total number of
miles driven annually; comparing the determined number of miles
driven by the owner annually to an original annual mileage bracket
of an insurance policy of the owner; determining if the owner is in
a lower annual mileage bracket based upon the comparison; assigning
the owner to a lower annual mileage bracket of the insurance
policy; and processing an adjusted insurance premium for the owner
based upon a difference between an insurance premium of the
original annual mileage bracket and an insurance premium of the
lower annual mileage bracket.
14. The computer-implemented method of claim 13, wherein the method
further comprises: receiving telematics data from the vehicle or
mobile data from a mobile communications device of a renter of the
vehicle; and determining usage data for the vehicle using the
telematics data or the mobile data of the renter including
determining at least one of a time when the renter enters and exits
the vehicle, a quality of driving of the renter, a driving score of
the renter, and an amount of miles driven by the renter.
15. The computer-implemented method of claim 9, wherein the method
further comprises: utilizing at least one of machine learning and
artificial intelligence techniques to identify additional patterns
in the subset of property data for the selected property;
generating, based upon the additional patterns, a plurality of
suggestions for subsequent commercial transactions for an owner of
the selected property; and transmitting the plurality of
suggestions to a user device of the owner.
16. The computer-implemented method of claim 9, wherein the one or
more reimbursements include a credit toward an insurance bill for a
subsequent billing period and a direct deposit into a financial
account of the offerer.
17. At least one non-transitory computer-readable media having
computer-executable instructions thereon, wherein when executed by
at least one processor of a computing device in communication with
at least one memory device and a property sharing platform, cause
the at least one processor to: receive a plurality of property data
associated with commercial transactions of a plurality of
properties, wherein the property data is utilized by the property
sharing platform and includes a length of time that each property
of the plurality of properties was used for commercial purposes
under respective terms of the commercial transactions; organize the
received property data in a plurality of data records by date,
wherein each data record is associated with one property of the
plurality of properties and includes a subset of property data for
the respective property; identify patterns in the subset of
property data for a selected property for a predetermined period of
time, the patterns indicating when the selected property was used
for commercial purposes during the predetermined period of time;
and transmit content to a client device including the identified
patterns and a percentage of time the selected property was used
for commercial purposes during the predetermined period of
time.
18. The computer-readable media of claim 17 further causing the at
least one processor to: obtain an access token from the property
sharing platform; and use the obtained access token to retrieve the
plurality of property data from the property sharing platform.
19. The computer-readable media of claim 17, wherein the property
sharing platform is in communication with an insurance provider
computing device, and wherein the client device is the insurance
provider computing device.
20. The computer-readable media of claim 17 further causing the at
least one processor to: utilize at least one of machine learning
and artificial intelligence techniques to identify additional
patterns in the subset of property data for the selected property;
generate, based upon the additional patterns, a plurality of
suggestions for subsequent commercial transactions for an owner of
the selected property; and transmit the plurality of suggestions to
a user device of the owner.
Description
CROSS-REFERENCE TO RELATED APPLICATIONS
[0001] This application is a continuation of U.S. patent
application Ser. No. 16/413,245, filed May 15, 2019, entitled
"SYSTEMS AND METHODS FOR MANAGING INSURANCE PREMIUMS BASED UPON
PEER-TO-PEER PROPERTY SHARING," which is related to U.S.
Provisional Patent Application Ser. No. 62/821,862, filed Mar. 21,
2019, entitled "SYSTEMS AND METHODS FOR MANAGING INSURANCE PREMIUMS
BASED UPON PEER-TO-PEER PROPERTY SHARING," the entire contents and
disclosure of which are hereby incorporated by reference herein in
its entirety.
FIELD OF THE DISCLOSURE
[0002] The present disclosure relates to determining adjusted
insurance premiums for shared property insurance premiums, and more
particularly, to computer-based systems and methods for determining
adjusted insurance premiums for a piece of shared property used in
a peer-to-peer sharing environment based upon how often the shared
property is used commercially.
BACKGROUND
[0003] The market for peer-to-peer property sharing (e.g.,
ridesharing, car sharing, and home sharing) has become increasingly
popular among consumers. Property sharing allows owners of property
to offset the cost of the property by sharing the property (e.g.,
allowing others to rent the property).
[0004] However, in known property sharing platforms, both owners
and renters may pay for insurance on the same property.
Specifically, owners pay their insurance premium to insure the
property, and the renters pay for insurance on the property when
the renters are renting it. For example, a renter may rent a
property on a property sharing platform, and the property sharing
platform may provide insurance for the property through fees paid
by the renter. That is, the property is "double insured" when the
property is rented.
BRIEF SUMMARY
[0005] The present embodiments may relate to systems and methods
for analyzing data from a property sharing platform to adjust
insurance premiums for an offerer of a property. In one embodiment,
the systems and methods may use a property sharing insurance
management ("PSIM") computing device to perform the analysis and
adjust the insurance premiums.
[0006] In one aspect, a computing device for analyzing data from a
property sharing platform may be provided. The computing device may
include at least one processor in communication with at least one
memory device and the property sharing platform. The at least one
processor may be programmed to (i) receive a plurality of property
data associated with commercial transactions of a plurality of
properties, wherein the property data is utilized by the property
sharing platform and includes a length of time that each property
of the plurality of properties was used for commercial purposes
under respective terms of the commercial transactions, (ii)
organize the received property data in a plurality of data records
by date, wherein each data record is associated with one property
of the plurality of properties and includes a subset of property
data for the respective property, (iii) identify patterns in the
subset of property data for a selected property for a predetermined
period of time, the patterns indicating when the selected property
was used for commercial purposes during the predetermined period of
time, and (iv) transmit content to a client device including the
identified patterns and a percentage of time the selected property
was used for commercial purposes during the predetermined period of
time. The computing device may include additional, less, or
alternate functionality, including that discussed elsewhere
herein.
[0007] In another aspect, a computer-implemented method analyzing
data from a property sharing platform may be provided. The method
may be implemented using a computing device including at least one
processor in communication with at least one memory device and the
property sharing platform. The method may include (i) receiving a
plurality of property data associated with commercial transactions
of a plurality of properties, wherein the property data is utilized
by the property sharing platform and includes a length of time that
each property of the plurality of properties was used for
commercial purposes under respective terms of the commercial
transactions, (ii) organizing the received property data in a
plurality of data records by date, wherein each data record is
associated with one property of the plurality of properties and
includes a subset of property data for the respective property,
(iii) identifying patterns in the subset of property data for a
selected property for a predetermined period of time, the patterns
indicating when the selected property was used for commercial
purposes during the predetermined period of time, and (iv)
transmitting content to a client device including the identified
patterns and a percentage of time the selected property was used
for commercial purposes during the predetermined period of time.
The method may include additional, less, or alternate actions,
including those discussed elsewhere herein.
[0008] In a further aspect, at least one non-transitory
computer-readable media having computer-executable instructions
thereon may be provided. When executed by at least one processor of
a computing device in communication with at least one memory device
and a property sharing platform, the instructions may cause the at
least one processor of the computing device to (i) receive a
plurality of property data associated with commercial transactions
of a plurality of properties, wherein the property data is utilized
by the property sharing platform and includes a length of time that
each property of the plurality of properties was used for
commercial purposes under respective terms of the commercial
transactions, (ii) organize the received property data in a
plurality of data records by date, wherein each data record is
associated with one property of the plurality of properties and
includes a subset of property data for the respective property,
(iii) identify patterns in the subset of property data for a
selected property for a predetermined period of time, the patterns
indicating when the selected property was used for commercial
purposes during the predetermined period of time, and (iv) transmit
content to a client device including the identified patterns and a
percentage of time the selected property was used for commercial
purposes during the predetermined period of time. The instructions
may direct additional, less, or alternate functionality, including
that discussed elsewhere herein.
BRIEF DESCRIPTION OF THE DRAWINGS
[0009] The Figures described below depict various aspects of the
systems and methods disclosed therein. It should be understood that
each Figure depicts an embodiment of a particular aspect of the
disclosed systems and methods, and that each of the Figures is
intended to accord with a possible embodiment thereof. Further,
wherever possible, the following description refers to the
reference numerals included in the following Figures, in which
features depicted in multiple Figures are designated with
consistent reference numerals.
[0010] There are shown in the drawings arrangements which are
presently discussed, it being understood, however, that the present
embodiments are not limited to the precise arrangements and are
instrumentalities shown, wherein:
[0011] FIG. 1 illustrates a flow chart of an exemplary process of
managing property sharing insurance for a property sharing
system.
[0012] FIG. 2 illustrates a flow chart of an exemplary process for
reimbursing an offerer following the process shown in FIG. 1.
[0013] FIG. 3 illustrates a simplified block diagram of an
exemplary computer system for implementing the process shown in
FIG. 1.
[0014] FIG. 4 illustrates an exemplary configuration of a client
computer device that may be used with the computer system shown in
FIG. 3.
[0015] FIG. 5 illustrates an exemplary configuration of a server
system that may be used with the computer system shown in FIG.
3.
[0016] FIG. 6 illustrates a diagram of components of one or more
exemplary computing devices that may be used in the system shown in
FIG. 1.
[0017] FIG. 7 illustrates a flow chart of an exemplary
computer-implemented process for managing property sharing
insurance as shown in FIG. 1.
[0018] The Figures depict preferred embodiments for purposes of
illustration only. One skilled in the art will readily recognize
from the following discussion that alternative embodiments of the
systems and methods illustrated herein may be employed without
departing from the principles of the invention described
herein.
DETAILED DESCRIPTION OF THE DRAWINGS
[0019] The present embodiments may relate to, inter alia, systems
and methods for generating and managing insurance premiums relating
to one or more peer-to-peer shared properties. In one exemplary
embodiment, the process may be performed by a property sharing
insurance management ("PSIM") computing device (also referred to
herein as a PSIM server) associated with an insurance provider.
[0020] As described below, the systems and methods described herein
may leverage property sharing data to determine an amount of time
that a property is used for commercial purposes (e.g.,
shared/rented using a peer-to-peer property sharing service) and
adjust an insurance premium for an owner (also known as an offerer
or offeror) of the property based upon the determined amount of
time that the property is used for commercial purposes. In other
words, the systems and methods described herein may provide an
adjusted insurance premium for offerers that may include at least a
partial reimbursement of insurance premiums for offerers of
rental/shared property based upon the amount of time that the
property is rented. Accordingly, the systems and methods described
herein may ensure that an offerer is not paying for double
insurance (e.g., the offerer is not paying for insurance when a
renter of the property is also paying for insurance of the property
through the peer-to-peer property sharing service).
Peer-to-Peer Property Sharing Services
[0021] Peer-to-peer property sharing services (also known as
property sharing systems) may allow for the exchange of property
and/or services on an individual basis, so that individuals are
exchanging property and/or services with other individuals.
Examples of these exchanges may include, but are not limited to,
car sharing, ride sharing, and residence sharing. In most property
sharing systems, a list of individuals who are willing to offer
their property and/or services, also known as offerers, list their
properties on a website or other online platform for potential
renters. If the renter wishes to rent the property, the renter may
conduct an exchange of money for temporary use of the property,
using the property sharing system. Generally, the offerer may
insure their property before offering their property to others. In
some embodiments, the offerer may be required to insure their
property (e.g., in the case of homeowners required to insure their
property, vehicle owners required by state law to insure their
vehicle, and the like). An insurance provider that insures the
property of the offerer may be referred to as "offerer insurance
provider."
[0022] Further, the property sharing system may also insure the
property when the property is rented out in a transaction conducted
using their system. An insurance provider that insures the property
on behalf of the property sharing system may be referred to as
"property sharing insurance provider." That is, in some instances,
the property may be "double insured" when the property is rented
out via the property sharing system.
[0023] In the exemplary embodiment, the offerer may list the item
on a property sharing platform along with the price and/or
conditions for the exchange. The property sharing platform may
require that the offerer include information about their insurance
in the listing as well. In the example of car sharing (e.g., via
TURO and the like), a listing provided on the property sharing
platform may include pictures of the car, features of the car, a
make and model of the car, a gas mileage of the car, a cost to rent
the car per hour and/or per day, and/or conditions, such as maximum
mileage that can be driven in the car, whether smoking is allowed
in the car, and/or a minimum age to drive the car. In the example
of residence sharing (e.g., via AIRBNB, VRBO, and the like), the
offerer may include pictures of the residence, a listing of the
amenities of the residence, a cost to rent the residence per night
and/or per week, and/or conditions, such as minimum stay and/or
whether pets are allowed.
[0024] A potential renter may browse through the listings of offers
to determine which property is most appropriate for them. The
potential renter may then select an offer on the property sharing
platform, and the property sharing platform may then inform the
offerer. Information about the offerer and the renter, as well an
appropriate payment associated with the offer, may be exchanged,
completing the transaction.
[0025] In the exemplary embodiment, a property sharing insurance
provider may be associated with a property sharing system, such as,
but not limited to, a car sharing, a residence sharing, and/or a
ride sharing system. In some embodiments, the property sharing
system may be hosted by the property sharing insurance provider. In
other embodiments, the property sharing system may be separate from
the property sharing insurance provider, and the property sharing
insurance provider may be in communication with the property
sharing system. The property sharing insurance provider may provide
insurance products to the property sharing system, such as
individual insurance policies associated with each transaction
conducted over the property sharing system and/or a general or
"overall" insurance policy that covers claims associated with any
such transaction.
[0026] In the exemplary embodiment, an offerer may offer their
property, which is insured through the offerer insurance provider,
through the property sharing system. The offerer insurance provider
may be the same as or different from the property sharing insurance
provider.
[0027] In the exemplary embodiment, the offerer may communicate
their desire to opt in to a property sharing insurance management
("PSIM") server through a user interface. That is, the offerer may
opt in to receive a reimbursement determined by the PSIM server for
time that their property is shared/rented through the property
sharing platform, as described with more detail below.
[0028] In the exemplary embodiment, the PSIM server may be
associated with the offerer insurance provider and/or the property
sharing insurance provider. In other embodiments, the PSIM server
may be separate from but in communication with the offerer
insurance provider and/or the property sharing insurance
provider.
[0029] The PSIM server may be configured to access and leverage
property sharing data to identify when a property, insured by the
offerer insurance provider, is the subject of a transaction on the
property sharing system. During such times, the property may be
insured by the property sharing insurance provider of the property
sharing system. The PSIM server may be further configured to
provide the offerer with an adjusted insurance premium that may
include an insurance reimbursement for those times that the
offerer's property is the subject of a transaction on the property
sharing system, and is therefore insured by the property sharing
insurance provider (and need not be "double-insured" by the offerer
insurance provider).
[0030] If the PSIM server is separate from property sharing system
and/or from the property sharing insurance provider, the PSIM
server may gain access to property sharing data from the property
sharing system through an access token obtained from the property
sharing system (e.g., to ensure data security of the property
sharing data). The PSIM server may retrieve insurer data about the
offerer, the insurer data including data about the offerer based
upon offerer's one or more insurance policies with the offerer
insurance provider (which may be provided to the property sharing
system during a registration process). In some embodiments, the
insurer data may include additional data about the one or more
items being offered by the offerer and the specific insurance
policies covering those items.
[0031] Examples of offers include, but are not limited to, vehicle
sharing (e.g., offerer's vehicle is being offered for use by the
renter for a period of time), residence sharing (e.g., offerer's
residence is being offered for rent for a period of time), and/or
ride sharing (e.g., offerer is offering to drive the renter from
one point to another point). A residence may include, but is not
limited to, a house, an apartment, a townhouse, a condominium, a
guest house, a mobile home, a shared room, a couch in a living
room, and/or any other place to stay. A vehicle may include, but is
not limited to, an automobile, a boat, an aircraft, a bicycle, a
motorcycle, a recreational vehicle ("RV"), an autonomous vehicle, a
flying car, and/or any other vehicle. In the exemplary embodiment,
the offerer may offer his/her residence and/or vehicle to share for
a specific price. The offer may be listed within the PSIM server
among a plurality of other offers by a plurality of other offerers
when the PSIM server and the property sharing platform are related,
as described below. In these embodiments, the listings may be
stored and displayed by the PSIM server. In other embodiments,
where the PSIM server and the property sharing platform are not
related, the offer may just be listed on the property sharing
platform.
[0032] Renters may browse the plurality of offers included within
the property sharing platform, which, in some embodiments, may be
the PSIM server. In the exemplary embodiment, the plurality of
offers is hosted on an online application. As such, the application
may be a web-hosted application or mobile application that allows
the renter to browse and/or search through the listings of offers
using a user computing device (e.g., a personal computer,
smartphone, etc.). When the renter selects an offer, a notification
is sent to the offerer, and the item in the offer is rented to the
renter.
[0033] In the exemplary embodiment, when a property sharing
transaction is processed (which may occur before, during, or after
the rental is completed), the PSIM server may obtain and store
information about the transaction, also referred to as "property
sharing transaction data." For example, the property sharing
transaction data may include a duration of how long the property is
being rented, time(s)/date(s) of the rental, claim history during
the rental, pictures of any damage to the rental, and any other
relevant information. In the exemplary embodiment, the PSIM server
may process the property sharing transaction data and determine how
often an offerer's property is, or has been, rented out by renters.
The PSIM server may make such a determination after each rental
and/or periodically (e.g., at the end of each month, quarter, year,
etc.). Based upon this determination, the PSIM server may determine
an adjusted insurance premium amount for the offerer's insurance
premium that may include an amount of the offerer's premium to be
returned to the offerer.
[0034] As described above, property may be "double insured" when
the property is rented out, because the offerer must insure their
property, and the renter, through the property sharing platform,
must insure the property when the renter is renting the property.
In the exemplary embodiment, the PSIM server may ensure that the
offerer is not paying for insurance on the property when the
property is insured by the property sharing platform, and the PSIM
server may determine an adjusted insurance premium amount of the
offerer's insurance premium to be returned to the offerer.
Property Sharing Insurance Management and Vehicle Sharing
[0035] Vehicle sharing on property sharing systems refers to a
transaction where an offerer allows a renter to rent their vehicle
for a predetermined amount of time and money. For example, an
offerer may offer their vehicle on a property sharing platform
(e.g., TURO) to a renter for 12 hours for a rate of $100. During
the time that the renter is renting the vehicle, the vehicle may be
insured by the property sharing platform and the offerer's own
insurance policy, and the vehicle therefore may be
"double-insured," as described above. The property sharing platform
may send a signal (e.g., transaction details) to the PSIM server
when the vehicle is rented. From the signal, the PSIM server may
determine that the vehicle is "double-insured" throughout the
period of time that the vehicle is rented and may store the
"double-insured" information.
[0036] In some instances, an offerer's vehicle insurance premium
for their insurance policy may be at least partially determined by
how many miles the offerer drives annually. For example, an offerer
who drives less than 5,000 miles per year may have a smaller
insurance premium than an offerer who drives over 15,000 miles per
year. In the exemplary embodiment, the PSIM server may be further
configured to determine how many miles are driven by renters of the
vehicle over a predetermined period of time (e.g., annually) in
addition to how much time the vehicle is rented by renters.
[0037] In these embodiments, the PSIM server may subtract the
determined number of miles driven by renters from the total number
of miles driven on the car in the predetermined time period. The
PSIM server may then compare the determined number of miles driven
by the offerer in the predetermined period of time to a mileage
bracket of the insurance policy of the offerer. Based upon this
comparison, the PSIM server may determine whether the offerer is in
a lower mileage bracket than the bracket that the offerer paid the
insurance premium on. Accordingly, PSIM server may place the
offerer in the lower mileage bracket and process a reimbursement
for the offerer based upon an adjusted insurance premium, where the
reimbursement represents a difference between the paid insurance
premium and an insurance premium of the lower mileage bracket. This
reimbursement may be processed separate from or along with the
reimbursement for when the vehicle is "double-insured."
Property Sharing Insurance Management and Ride Sharing
[0038] Ride sharing on property sharing systems refers to a
transaction where an offerer provides a ride for a renter for a
predetermined amount of money. For example, an offerer may offer
their driving services on a property sharing platform (e.g., UBER
or LYFT) for a rate of $0.75 per mile. During the time that the
offerer is using their vehicle in a ride sharing capacity, the
vehicle may be insured by the property sharing platform as well as
the offerer's own insurance policy. Therefore, the vehicle may be
"double-insured" in these instances.
[0039] In some embodiments, the PSIM server may receive a signal
(e.g., transaction details) from the property sharing platform that
indicates when the vehicle is being used for ride sharing. The PSIM
server may determine when the vehicle is "double-insured" from the
signal and provide the offerer with a reimbursement for their
insurance premium for times when the offerer is using their vehicle
in a ride sharing capacity. In ride sharing transactions, the
offerers use their own vehicles and do not rent the vehicles to
renters. Accordingly, in ride sharing transactions, the offerer may
not be eligible for a reduced mileage bracket associated with their
insurance, as described above with respect to vehicle sharing.
Telematics Data and Mobile Device Data Related to Vehicle
Sharing
[0040] In some embodiments, the property sharing system that
enables vehicle sharing may be included in a software application
(e.g., on a mobile device of a renter). The application may include
features that allow renters to accept offers (e.g., from the
property sharing system) and seamlessly access the vehicle (e.g.,
with keyless entry) through their mobile devices. Further, the
application may include features that allow the PSIM server to
receive mobile and telematics data while the renter is using the
vehicle. The mobile and telematics data may include data from
sensors on the mobile device (e.g., GPS and accelerometer) running
the application and data from vehicle sensors (e.g., GPS,
accelerometer, and engine sensors) that communicate with the
application via the mobile device. The application may communicate
the data wirelessly to the PSIM server in real-time, periodically,
and/or at predetermined times (e.g., when the renter is done
renting the vehicle).
[0041] In embodiments where the PSIM server receives mobile and
telematics data from the renter of the vehicle, the data may
transfer from the mobile device running the application directly to
the PSIM server. Accordingly, the PSIM server may receive
information regarding when a renter enters/exits the vehicle and
how many miles are driven by the renter in real-time (e.g., during
a trip and/or after an offer/transaction is completed). Further,
the PSIM server may receive telematics data from the vehicle and/or
the mobile device running the application regarding the renter's
usage of the vehicle. Specifically, the telematics data indicates
how the renter is operating the vehicle (e.g., where the vehicle
was driven, how fast the vehicle was driven, if the vehicle made
any sudden stops or quick lane changes, general driving quality of
the renter, braking, cornering, speed, acceleration, deceleration,
heading, route, time of day, GPS location, etc). The telematics
data may also include vehicle-mounted sensor data and/or mobile
device sensor data, and be generated by vehicle-mounted sensors
and/or mobile device sensors. In some embodiments, the telematics
data may also include image data from various vehicle-mounted
sensors or cameras, the image data may include views of the
exterior of the vehicle, as well as the interior during use.
[0042] The PSIM server may use the telematics data received from
the vehicle for specific renters to determine a driving score for
the renters. In some embodiments, the reimbursement for offerers
may be greater the higher the driving score of the renters.
Further, in embodiments where the insurance provider associated
with the PSIM hosts the property sharing platform, the insurance
provider may determine the renter's insurance premium based upon
their driving score. For example, the insurance provider may charge
a greater premium for a renter with a low driving score.
Property Sharing Insurance Management and Residence Sharing
[0043] Residence sharing on property sharing systems refers to a
transaction where an offerer allows a renter to rent their
residence for a predetermined amount of time and money. For
example, an offerer may offer their residence on a property sharing
platform (e.g., AIRBNB or VRBO) for a rate of $85 per night. During
the time that the offerer rents their residence, the residence may
be insured by the property sharing platform as well as the
offerer's own insurance policy. Therefore, the residence may be
"double-insured" in these instances.
[0044] In some embodiments, the PSIM server may receive a signal
(e.g., transaction details) from the property sharing platform that
indicates when the residence is being used for residence sharing.
The PSIM server may determine when the vehicle is "double-insured"
from the signal and provide the offerer with a reimbursement for
their insurance premium for times when the offerer is renting their
residence to a renter.
[0045] At least one of the technical problems addressed by this
system may include: (i) lack of identification of when a property
is "double-insured"; (ii) inability to reimburse property owners
for such "double-insured" periods; (iii) poor speed and/or accuracy
of issuing a reimbursement on an insurance policy when the property
is "double-insured" during at least one property sharing
transaction; (iv) lack of overall data on the commercial use of a
property; and/or (v) lack of data to make insurance decisions about
property sharing insurance policies for property sharing
transactions.
[0046] The methods and systems described herein may be implemented
using computer programming or engineering techniques including
computer software, firmware, hardware, or any combination thereof,
wherein the technical effects may be achieved by performing at
least one of the following steps: (a) receive, from a data source,
a plurality of property data, (b) store the received property data
in a plurality of data records in a database, wherein each data
record is associated with one property and stores the plurality of
property data for that property, (c) analyze the plurality of
property data for the property, (d) determine a percentage of time
that the property is used for commercial purposes in an insurance
billing cycle, and (e) process one or more adjusted insurance
premiums for the property offerer based upon the determined
percentage of time, including at least partial returns on insurance
premiums for the property offerer, wherein the one or more adjusted
insurance premiums includes one or more reimbursements of a portion
of the insurance premium to the offerer.
[0047] At least one of the technical solutions addressed by this
system may include: (i) identifying when a property is
"double-insured"; (ii) reimbursing property owners for the
identified "double-insured" periods; (iii) improved speed and/or
accuracy of issuing a reimbursement on an insurance policy when the
property is "double-insured" during at least one property sharing
transaction; (iv) collecting data on the commercial use of
property; and/or (v) collecting data to make insurance decisions
about property sharing insurance policies for property sharing
transactions.
Exemplary Process for Managing Property Sharing Insurance
[0048] FIG. 1 illustrates a flow chart of an exemplary
computer-implemented process 100 for managing insurance premiums
for a property associated with a property sharing transaction. In
the exemplary embodiment, an offerer insurance provider 101 may be
associated with and provide one or more insurance policies to a
property sharing system 102, such as, but not limited to, a
ride-sharing, a car-sharing, and/or a residence sharing system.
Further, in the exemplary embodiment, property sharing system 102
may be hosted 103 by offerer insurance provider 101. In other
embodiments, property sharing system 102 may be separate from
offerer insurance provider 101, and offerer insurance provider 101
may be in communication with property sharing system 102.
[0049] In the exemplary embodiment, an offerer 104 may offer 106
their property for rental and/or share through property sharing
system 102. Offerer insurance provider 101 may provide offerer 104
with one or more insurance policies on their property. That is, in
the exemplary embodiment, offerer insurance provider 101 may be
both a property sharing insurance provider and the offerer's
insurance provider.
[0050] Offerer 104 may opt in 108 to a property sharing insurance
management ("PSIM") service provided by offerer insurance provider
101 through a PSIM server 110. In the exemplary embodiment, offerer
104 may communicate the desire to opt in 108 to the PSIM service of
PSIM server 110 through a user interface 112 (e.g., on a user
computing device of offerer 104, not specifically shown), which may
enable communication with a communications module 114 of PSIM
server 110. In other embodiments, offerer insurance provider 101
may automatically enroll offerer 104 into the PSIM service of PSIM
server 110 if offerer 104 is eligible for the PSIM service (e.g.,
if offerer offers property for rental and/or share and the property
is insured by offerer insurance provider 101). In the exemplary
embodiment, PSIM server 110 may be associated with offerer
insurance provider 101 that insures offerer 104 and/or property
sharing system 102. In the exemplary embodiment, insurer data may
be communicated to the PSIM server 110 and stored in a memory 116
thereof.
[0051] Insurer data may include data about offerer 104 (e.g.,
personal address, banking account numbers, and properties owned)
and data on one or more of offerer's 104 insurance policies with
offerer insurance provider 101 (e.g., insurance premium amount for
each property). In some further embodiments, insurer data may also
include additional data about the property being offered on
property sharing system 102, such as the offerer's 104 residence
124 and/or car 126, which are covered by an insurance policy from
offerer insurance provider 101. Examples of offers 107 include, but
are not limited to, residence rental (where offerer's 104 residence
124 is being offered for rent for a period of time), vehicle ride
(where offerer 104 is offering to rent a ride from one point to
another point), and vehicle rental (where offerer's 104 vehicle 126
is being offered for use for a period of time).
[0052] In the exemplary embodiment, offerer 104 may offer 106
his/her residence 124 and/or vehicle 126 to share for a specific
price and/or according to various conditions described in each
offer 107. Each individual offer 107 may be listed among a
plurality of other offers associated with a plurality of other
offerers (not specifically shown) on property sharing system 102.
In some embodiments, such as where PSIM server 110 is associated
with property sharing system 102, offers 107 may be stored and
displayed by PSIM server 110.
[0053] In the exemplary embodiment, a renter 120 may also register
with property sharing system 102. Property sharing system 102 may
provide insurance for residence 124 and/or vehicle 126 (e.g., on
behalf of renter 120 and/or property sharing system 102) that is
separate from the owner's insurance. In some embodiments, this
insurance (e.g., renter's insurance) may be offered by offerer
insurance provider 101. In other embodiments, the renter's
insurance may be offered by insurance providers other than offerer
insurance provider 101.
[0054] Once registered, renter 120 may browse the plurality of
offers 107. In the exemplary embodiment, the plurality of offers
107 are hosted on an online application (e.g., by property sharing
system 102 and/or PSIM server 110). As such, the application may be
a web-hosted application or mobile application that allows (i)
offerer 104 to list property available for rental in offers 107,
and (ii) renter 120 to browse and/or search through the listings of
offers 107. When renter 120 selects 122 an offer, a notification is
sent to offerer 104, information and/or money is exchanged between
renter 120, property sharing system 102, and/or offerer 104, and
the residence 124 and/or vehicle 126 is rented 128 to renter
120.
[0055] In the exemplary embodiment, PSIM server 110 may retrieve
details 130 of a transaction when the residence 124 and/or vehicle
126 is rented 128 and post-transaction details 130 after the
residence 124 and/or vehicle 126 is rented 128 from property
sharing system 102. In some embodiments, PSIM server 110 may be
related to and/or associated with property sharing system 102, and
PSIM server 110 may retrieve the transaction and/or
post-transaction details 130 from memory 116. In other embodiments,
PSIM server 110 may be separate from property sharing system 102,
and PSIM server 110 may retrieve the transaction and/or
post-transaction details 130 from property sharing system 102
through an access token obtained from property sharing system 102
(e.g., to ensure data security of the property sharing data).
[0056] The transaction details 130 may include information about
offerer 104, residence 124 and/or vehicle 126 being rented, offer
107 (e.g., duration of offer 107, price for renter 120 to rent 128
residence 124 and/or vehicle 126, and the renter's insurance
provided by property sharing system 102), and renter 120. The
post-transaction details 130 may include information about any
claims filed when residence 124 and/or vehicle 126 were rented 128
by renter 120, data about vehicle 126 (e.g., mileage driven when
vehicle 126 was rented 128 and telematics data), and a condition of
residence 124 and/or vehicle 126 after being rented 128.
[0057] In the exemplary embodiment, once renter 120 rents 128
residence 124 and/or vehicle 126, PSIM server 110 may determine 132
an amount of time residence 124 and/or vehicle 126 is rented 128
(e.g., used commercially) compared to an amount of time residence
124 and/or vehicle 126 is used by offerer 104 personally. PSIM
server 110 may determine 132 the amount of time residence 124
and/or vehicle 126 is rented 128 after every rental thereof,
periodically (e.g., based upon length or billing cycle of insurance
policy of offerer 104), and/or only upon request from offerer 104.
In some embodiments, PSIM server 110 may determine 132 a percentage
of time that residence 124 and/or vehicle 126 was rented 128 and
determine 132 an adjusted insurance premium accordingly.
[0058] The adjusted insurance premium may include a reimbursement
of at least a portion of the insurance premium to offerer 104. For
example, if residence 124 and/or vehicle 126 are rented for 15% of
a billing cycle, PSIM server 110 may determine 132 that the
adjusted insurance premium for offerer 104 is a 15% adjustment to
their insurance premium and issue a 15% reimbursement to offerer
104. PSIM server 110 may make this determination 132 by analyzing
the retrieved transaction and/or post-transaction details 130. In
other embodiments, PSIM server 110 may determine 132 the adjusted
insurance premium to be a predetermined amount per property (e.g.,
residence 124 and/or vehicle 126) being rented 128. For example,
PSIM server 110 may determine 132 that offerer 104 may receive $5
per day that their residence 124 is rented 128.
[0059] Further, PSIM server 110 may use other factors (e.g., risk
associated with day/time of rental and holiday rental vs.
non-holiday rental) in determining 132 the adjusted insurance
premium. For example, because there may be more risk associated
with renting 128 on weekends, PSIM server 110 may determine 132 a
greater reimbursement for weekends compared to weekdays. Further,
for example, because holiday rentals may be more in demand than
non-holiday rentals, PSIM server 110 may determine 132 a greater
reimbursement for holidays compared to non-holidays.
[0060] In the exemplary embodiment, the determined 132 amount of
time and adjusted insurance premium for offerer 104, along with the
transaction and post-transaction details 130, may be stored in
memory 116 of PSIM server 110 (e.g., each amount of time and
reimbursement may be individually stored in a separate location of
memory 116, and/or a cumulative amount of time over a predetermined
length of time may be stored and updated). Further, the determined
132 amount of time and adjusted insurance premium may be
distributed to offerer insurance provider 101 such that offerer
insurance provider 101 may collect and analyze the data on the
commercial use of property, which may be used to make insurance
decisions about property sharing insurance policies for property
sharing transactions.
[0061] Offerer insurance provider 101 and property sharing system
102 may be capable of communicating with PSIM server 110 through an
application programming interface (API) 118. In the exemplary
embodiment, PSIM server 110 may include a firewall (not shown) to
protect the private and/or personally identifiable information of
offerer 104 and renter 120. As the determined 132 amount(s) of time
and reimbursement(s) are modified or additional information is
received 130, more data may be added to the databases of memory
116.
Exemplary Process for Reimbursement
[0062] FIG. 2 depicts a simplified block diagram of an exemplary
process 200 for reimbursement of a portion of an insurance premium
to an offerer 104. That is, FIG. 2 relates to the processing 200 of
the reimbursement of the insurance premium. As shown in FIG. 1,
PSIM server 110 determines 132 an amount of time a property (e.g.,
residence 124 and/or vehicle 126) is rented and calculates an
adjusted insurance premium for offerer 104 based upon the
determined 132 time. In the exemplary embodiment, process 200 may
be implemented to reimburse (e.g., by providing a reimbursement)
offerer 104 based upon the determined 132 amount of time and
adjusted insurance premium.
[0063] In the exemplary embodiment, PSIM server 110 may be in
communication with an offerer insurance provider financial
institution 210, an offerer financial institution 212, and offerer
104 (e.g., via a user computing device of offerer 104, not
specifically shown). Offerer insurance provider financial
institution 210 may be any financial institution (e.g., a bank)
engaged in financial and/or monetary services for offerer insurance
provider 101 (shown in FIG. 1). Specifically, offerer insurance
provider financial institution 210 maintains at least one financial
account on behalf of offerer insurance provider 101. Offerer
financial institution 212 may be any financial institution engaged
in financial and/or monetary services for offerer 104.
Specifically, offerer financial institution 212 maintains at least
one financial account on behalf of offerer 104.
[0064] In the exemplary embodiment, PSIM server 110 may transmit
instructions 220 to offerer insurance provider financial
institution 210. Instructions 220 may direct offerer insurance
provider financial institution 210 to disburse funds in the
determined 132 reimbursement amount to the payment account of
offerer 104 at offerer financial institution 212. Upon receiving
instructions 220, offerer insurance provider financial institution
may, in turn, deposit 222 funds in the determined 132 reimbursement
amount into the payment account of offerer 104 at offerer financial
institution 212. Additionally or alternatively, offerer insurance
provider financial institution 210 (and/or offerer insurance
provider 101) may store 224 the determined 132 reimbursement amount
for use as a credit in the subsequent billing cycle (e.g., in
memory 116 of PSIM server 110 and/or in any other storage location
and/or storage device). If the determined 132 reimbursement amount
is stored 224, PSIM server 110 (and/or offerer insurance provider
101) may deduct the credit from an insurance premium that offerer
104 has to pay for a subsequent billing cycle.
[0065] In the exemplary embodiment, PSIM server 110 may notify 226
offerer 104 of the determined 132 reimbursement amount being
deposited 222 and/or stored 224 as credit. Additionally or
alternatively, offerer financial institution 212 may also notify
(not shown) offerer 104 of the determined 132 reimbursement being
deposited 222. In some embodiments, notifications 226 may be in the
form of message and/or email to user interface 112 (shown in FIG.
1) of offerer 104.
Exemplary Computer Network
[0066] FIG. 3 depicts a simplified block diagram of an exemplary
system 300 for implementing process 100 shown in FIG. 1. In the
exemplary embodiment, system 300 may be used for managing insurance
premiums for a property associated with a property sharing
transaction.
[0067] In the exemplary embodiment, one or more offerer computer
devices 302 may be computers that include a web browser or a
software application, which enables offerer computer devices 302 to
access remote computer devices, such as PSIM server 306, using the
Internet or other network. More specifically, offerer computer
device 302 may be communicatively coupled to PSIM server 306
through many interfaces including, but not limited to, at least one
of the Internet, a network, such as the Internet, a local area
network (LAN), a wide area network (WAN), or an integrated services
digital network (ISDN), a dial-up-connection, a digital subscriber
line (DSL), a cellular phone connection, and a cable modem. Offerer
computer devices 302 may be any device capable of accessing the
Internet including, but not limited to, a desktop computer, a
laptop computer, a personal digital assistant (PDA), a cellular
phone, a smartphone, a tablet, a phablet, wearable electronics,
smart watch, or other web-based connectable equipment or mobile
devices. In the exemplary embodiment, offerer computer device 302
may be associated with offerer 104 (shown in FIG. 1).
[0068] In the exemplary embodiment, one or more renter computer
devices 304 may be computers that include a web browser or a
software application, which enables renter computer devices 304 to
access remote computer devices, such as PSIM server 306, using the
Internet or other network. More specifically, renter computer
devices 304 may be communicatively coupled to PSIM server 306
through many interfaces including, but not limited to, at least one
of the Internet, a network, such as the Internet, a local area
network (LAN), a wide area network (WAN), or an integrated services
digital network (ISDN), a dial-up-connection, a digital subscriber
line (DSL), a cellular phone connection, and a cable modem. Renter
computer devices 304 may be any device capable of accessing the
Internet including, but not limited to, a desktop computer, a
laptop computer, a personal digital assistant (PDA), a cellular
phone, a smartphone, a tablet, a phablet, wearable electronics,
smart watch, or other web-based connectable equipment or mobile
devices. In the exemplary embodiment, renter computer device 304
may be associated with renter 120 (shown in FIG. 1).
[0069] In the exemplary embodiment, one or more user computer
devices 312 may be computers that include a web browser or a
software application, which enables user computer devices 312 to
access remote computer devices, such as PSIM server 306, using the
Internet or other network. More specifically, user computer devices
312 may be communicatively coupled to the Internet through many
interfaces including, but not limited to, at least one of a
network, such as the Internet, a local area network (LAN), a wide
area network (WAN), or an integrated services digital network
(ISDN), a dial-up-connection, a digital subscriber line (DSL), a
cellular phone connection, and a cable modem. User computer devices
312 may be any device capable of accessing the Internet including,
but not limited to, a desktop computer, a laptop computer, a
personal digital assistant (PDA), a cellular phone, a smartphone, a
tablet, a phablet, wearable electronics, smart watch, or other
web-based connectable equipment or mobile devices.
[0070] A database server 308 may be communicatively coupled to a
database 310 that stores data. In one embodiment, database 310 may
include the plurality of offers 107 (shown in FIG. 1), insurer
data, the determined 132 time a residence 124 and/or vehicle 126 is
rented 128 (shown in FIG. 1), determined 134 and returned
reimbursements from offerer insurance provider 101 (shown in FIG.
1), and transaction and post transaction details 130 (shown in FIG.
1). In the exemplary embodiment, database 310 may be stored
remotely from PSIM server 306. In some embodiments, database 310
may be decentralized. In the exemplary embodiment, a user, such as
offerer 104, may access database 310 via offerer computer device
302 by logging onto PSIM server 306, as described herein.
[0071] An insurance provider device 314 may be communicatively
coupled with PSIM server 306. In some embodiments, insurance
provider device 314 may be associated with, or is part of a
computer network associated with an insurance provider, or in
communication with the insurance provider's computer network (not
shown). In other embodiments, insurance provider device 314 may be
associated with a third party and is merely in communication with
the insurance provider's computer network. That is, insurance
provider device 314 may be associated with offerer insurance
provider 101 and/or a property sharing insurance provider. More
specifically, insurance provider device 314 is communicatively
coupled to the Internet through many interfaces including, but not
limited to, at least one of a network, such as the Internet, a
local area network (LAN), a wide area network (WAN), or an
integrated services digital network (ISDN), a dial-up-connection, a
digital subscriber line (DSL), a cellular phone connection, and a
cable modem. Insurance provider device 314 may be any device
capable of accessing the Internet including, but not limited to, a
desktop computer, a laptop computer, a personal digital assistant
(PDA), a cellular phone, a smartphone, a tablet, a phablet,
wearable electronics, smart watch, or other web-based connectable
equipment or mobile devices.
[0072] PSIM server 306 may be in communication with a plurality of
offerer computer devices 302, a plurality of renter computer
devices 304, an insurance provider device 314, and a plurality of
user computer devices 312 to offer a plurality of offers 107 for
sharing transactions. Furthermore, in some embodiments, insurance
provider device 314 may be configured in a network that allows the
PSIM sever 306 to communicate changes to renting data stored in
PSIM server 306. In some embodiments, PSIM server 306 may be
associated with an insurance provider, or in communication with the
insurance provider's computer network (not shown). In other
embodiments, PSIM server 306 may be associated with a third party
and is merely in communication with the insurance provider's
computer network.
Exemplary Client Device
[0073] FIG. 4 depicts an exemplary configuration of a user computer
device 404, in accordance with one embodiment of the present
disclosure. User computer device 404 may be operated by a user 402.
User computer device 404 may include, but is not limited to,
offerer computer device 302, renter computer device 304, insurance
provider device 314, and user computer devices 312 (all shown in
FIG. 3). User computer device 404 may include a processor 406 for
executing instructions. In some embodiments, executable
instructions may be stored in a memory area 408. Processor 406 may
include one or more processing units (e.g., in a multi-core
configuration). Memory area 408 may be any device allowing
information such as executable instructions and/or transaction data
to be stored and retrieved. Memory area 408 may include one or more
computer readable media.
[0074] User computer device 404 may also include at least one media
output component 410 for presenting information to user 402. Media
output component 410 may be any component capable of conveying
information to user 402. In some embodiments, media output
component 410 may include an output adapter (not shown) such as a
video adapter and/or an audio adapter. An output adapter may be
operatively coupled to processor 406 and operatively coupleable to
an output device such as a display device (e.g., a cathode ray tube
(CRT), liquid crystal display (LCD), light emitting diode (LED)
display, or "electronic ink" display) or an audio output device
(e.g., a speaker or headphones).
[0075] In some embodiments, media output component 410 may be
configured to present a graphical user interface (e.g., a web
browser and/or a client application) to user 402. A graphical user
interface may include, for example, an online store interface for
viewing and/or selecting from the plurality of offers 107 (shown in
FIG. 1). In some embodiments, user computer device 404 may include
an input device 412 for receiving input from user 402. User 402 may
use input device 412 to, without limitation, select an offer
107.
[0076] Input device 412 may include, for example, a keyboard, a
pointing device, a mouse, a stylus, a touch sensitive panel (e.g.,
a touch pad or a touch screen), a gyroscope, an accelerometer, a
position detector, a biometric input device, and/or an audio input
device. A single component such as a touch screen may function as
both an output device of media output component 410 and input
device 412.
[0077] User computer device 404 may also include a communication
interface 414, communicatively coupled to a remote device such as
PSIM server 306 (shown in FIG. 3). Communication interface 414 may
include, for example, a wired or wireless network adapter and/or a
wireless data transceiver for use with a mobile telecommunications
network.
[0078] Stored in memory area 408 are, for example, computer
readable instructions for providing a user interface to user 402
via media output component 410 and, optionally, receiving and
processing input from input device 412. A user interface may
include, among other possibilities, a web browser and/or a client
application. Web browsers enable users, such as user 402, to
display and interact with media and other information typically
embedded on a web page or a website from PSIM server 306. A user
application may allow user 402 to interact with, for example, PSIM
server 306. For example, instructions may be stored by a cloud
service, and the output of the execution of the instructions sent
to the media output component 410.
Exemplary Server Device
[0079] FIG. 5 depicts an exemplary configuration of server system,
in accordance with one embodiment of the present disclosure. Server
computer device 502 may include, but is not limited to, PSIM server
110 (shown in FIG. 1), PSIM server 306, and database server 308
(both shown in FIG. 3). Server computer device 502 may also include
a processor 504 for executing instructions. Instructions may be
stored in a memory area 506. Processor 504 may include one or more
processing units (e.g., in a multi-core configuration).
[0080] Processor 504 may be operatively coupled to a communication
interface 508 such that server computer device 502 is capable of
communicating with a remote device such as another server computer
device 502, PSIM server 306, offerer computer device 302, renter
computer device 304, insurance provider device 314, and user
computer device 312 (all shown in FIG. 3). For example,
communication interface 508 may receive requests from user computer
devices 312 via the Internet, as illustrated in FIG. 3.
[0081] Processor 504 may also be operatively coupled to a storage
device 520. Storage device 520 may be any computer-operated
hardware suitable for storing and/or retrieving data, such as, but
not limited to, data associated with database 310 (shown in FIG.
3). In some embodiments, storage device 520 may be integrated in
server computer device 502. For example, server computer device 502
may include one or more hard disk drives as storage device 520.
[0082] In other embodiments, storage device 520 may be external to
server computer device 502 and may be accessed by a plurality of
server computer devices 502. For example, storage device 520 may
include a storage area network (SAN), a network attached storage
(NAS) system, and/or multiple storage units such as hard disks
and/or solid state disks in a redundant array of inexpensive disks
(RAID) configuration.
[0083] In some embodiments, processor 504 may be operatively
coupled to storage device 520 via a storage interface 510. Storage
interface 510 may be any component capable of providing processor
504 with access to storage device 520. Storage interface 510 may
include, for example, an Advanced Technology Attachment (ATA)
adapter, a Serial ATA (SATA) adapter, a Small Computer System
Interface (SCSI) adapter, a RAID controller, a SAN adapter, a
network adapter, and/or any component providing processor 504 with
access to storage device 520.
[0084] Processor 504 may execute computer-executable instructions
for implementing aspects of the disclosure. In some embodiments,
the processor 504 may be transformed into a special purpose
microprocessor by executing computer-executable instructions or by
otherwise being programmed, as described below in more detail with
regard to FIG. 7.
Exemplary Computer Device
[0085] FIG. 6 depicts a diagram 600 of components of one or more
exemplary computing devices 610 that may be used in process 100
shown in FIG. 1 and system 300 shown in FIG. 3. In some
embodiments, computing device 610 may be similar to PSIM server 110
(shown in FIG. 1) and/or PSIM server 306 (shown in FIG. 3).
Database 620 may be coupled with several separate components within
computing device 610, which perform specific tasks. In this
embodiment, database 620 may include property data 622 (which may
be associated with offer 107 shown in FIG. 1), insurance data 624
(which may be related to insurance policies and premiums of offerer
104 associated with offerer insurance provider 101 shown in FIG.
1), offerer and renter data 626 (which may be associated with
offerer 104 and renter 120 shown in FIG. 1), and rent data 628
(which may be associated with determined 132 time property is
rented as shown in FIG. 1). In some embodiments, database 620 is
similar to database 310 (shown in FIG. 3).
[0086] Computing device 610 may include the database 620, as well
as data storage devices 630. Computing device 610 may also include
a communication component 640 for transmitting and receiving data,
for example, between offerer insurance provider 101 and PSIM server
110 (both shown in FIG. 1). Computing device 610 may further
include a determining component 650 for determining 132 a time that
a property is rented and a reimbursement for offerer 104 (both
shown in FIG. 1). A processing component 660 may assist with
execution of computer-executable instructions associated with the
system.
Exemplary Computer-Implemented Method for Managing Property Sharing
Insurance
[0087] FIG. 7 illustrates a flow chart of an exemplary computer
implemented process 700 for managing adjusted insurance premiums
for a property associated with a property sharing transaction using
process 100 (shown in FIG. 1) and system 300 (shown in FIG. 3).
Process 100 may be implemented by a computing device, for example
property sharing insurance management ("PSIM") server 110 (shown in
FIG. 1) or PSIM server 306 (shown in FIG. 3). In the exemplary
embodiment, PSIM server 306 may be in communication with offerer
computer device 302 (shown in FIG. 3), renter computer device 304
(shown in FIG. 3), user computer device 312 (shown in FIG. 3), and
insurance provider device 314 (shown in FIG. 3).
[0088] In the exemplary embodiment, PSIM computer device 306 may
receive 702 property rental data (e.g., transaction data, post
transaction data, and offerer/renter data, as described with
respect to FIG. 1) for one or more properties (e.g., residence 124
and/or vehicle 126 shown in FIG. 1). Property rental data may be
associated with offerer 104 (shown in FIG. 1). Examples of offers
107 (shown in FIG. 1) made by offerer 104 include, but are not
limited to, residence rental (where offerer's residence 124 is
being offered for rent for a period of time), vehicle ride (where
offerer 104 is offering to drive renter 120, shown in FIG. 1, from
one point to another point), and a vehicle rental (where offerer's
vehicle 126 is being offered for use for a period of time). The
residence 124 may include, but is not limited to, a house, an
apartment, a townhouse, a condominium, a guest house, a mobile
home, a shared room, a couch in a living room, and/or any other
place to stay. The vehicle 126 may include, but is not limited to,
an automobile, a boat, an aircraft, a bicycle, a motorcycle, a
recreational vehicle, and/or any other vehicle.
[0089] Each offerer 104 may be associated with offerer insurance
provider 101 (shown in FIG. 1). In the exemplary embodiment,
offerer insurance provider 101 associated with offerer 104 may be
an insurance provider associated with PSIM server 306. In some
further embodiments, PSIM server 306 may be associated with
multiple insurance providers and offerer 104 may be associated with
one of the offerer insurance providers 101 associated with PSIM
server 306.
[0090] In the exemplary embodiment, PSIM server 306 may store 704
the received property data in data records of a database (which may
be associated with memory 116 shown in FIG. 1 and/or database 310
shown in FIG. 3). In the exemplary embodiment, PSIM server 306 may
analyze 706 the property data and determine 708 a percentage of
time that the property is used for commercial purposes. Further, in
the exemplary embodiment, PSIM server 306 may process 710 one or
more adjusted insurance premiums for offerer 104 based upon the
determined 708 percentage of time that the property is used for
commercial purposes.
Exemplary Embodiments & Functionality
[0091] In one aspect, a property sharing insurance management
("PSIM") computing device for analyzing data from a property
sharing platform to adjust insurance premiums for an offerer of a
property may be provided. The offerer may have an insurance policy
on the property and may pay an insurance premium for the insurance
policy, and the PSIM computing device may include at least one
processor in communication with at least one memory device. The
processor may be programmed to (i) receive, from a data source, a
plurality of property data, (ii) store the received property data
in a plurality of data records in a database, wherein each data
record is associated with one property and stores the plurality of
property data for that property, (iii) analyze the property data
for the property, (iv) determine, based upon the analyzed property
data, a percentage of time that the property is used for commercial
purposes in an insurance billing cycle, and/or (v) process one or
more adjusted insurance premiums for the offerer based upon the
determined percentage of time that the property is used for
commercial purposes in the insurance billing cycle, wherein the one
or more adjusted insurance premiums includes one or more
reimbursements of a portion of the insurance premium to the
offerer. The PSIM computing device may include additional, less, or
alternate functionality, including that discussed elsewhere
herein.
[0092] For instance, one enhancement may be where the at least one
processor is further programmed to (i) obtain an access token from
a third party property sharing platform, and (ii) use the obtained
access token to obtain the plurality of property data from the
third party property sharing platform.
[0093] Another enhancement may be where the property sharing
platform is hosted by an insurance provider. Another enhancement
may be where the property is at least one of a vehicle, a
residence, a boat, and an RV.
[0094] Another enhancement may be where the property is a vehicle
and where the at least one processor is further programmed to (i)
determine the number of miles driven by the offerer annually by
subtracting a number of miles driven by renters when the vehicle is
driven commercially from a total number of miles driven annually,
(ii) compare the determined number of miles driven by the offerer
annually to an original annual mileage bracket of the insurance
policy of the offerer, (iii) determine if the offerer is in a lower
annual mileage bracket based upon the comparison, (iv) place the
offerer in a lower annual mileage bracket of the insurance policy,
and (v) process an adjusted insurance premium for the offerer based
upon a difference between an insurance premium of the original
annual mileage bracket and an insurance premium of the lower annual
mileage bracket.
[0095] Another enhancement may be where the at least on processor
is further programmed to (i) receive at least one of telematics
data from the vehicle and mobile data from a mobile communications
device of a renter of the vehicle and (ii) determine usage data for
the vehicle including at least one of the time the renter enters
and exits the vehicle, a quality of driving of the renter, a
driving score of the renter, and an amount of miles driven by the
renter.
[0096] Another enhancement may be where the one or more
reimbursements include at least one of a credit toward an insurance
bill for a subsequent insurance billing cycle and a direct deposit
into a financial account of the offerer.
[0097] In another aspect, a computer-implemented method for
analyzing data from a property sharing platform to adjust insurance
premiums for an offerer of a property may be provided. The offerer
may have an insurance policy on the property and may pay an
insurance premium for the insurance policy. The method may be
implemented using a PSIM computing device. The method may include
(i) receiving, from a data source, a plurality of property data,
(ii) storing the received property data in a plurality of data
records in a database, wherein each data record is associated with
one property and stores the plurality of property data for that
property, (iii) analyzing the property data for the property, (iv)
determining, based upon the analyzed property data, a percentage of
time that the property is used for commercial purposes in an
insurance billing cycle, and/or (v) processing one or more adjusted
insurance premiums for the offerer based upon the determined
percentage of time that the property is used for commercial
purposes in the insurance billing cycle, wherein the one or more
adjusted insurance premiums includes one or more reimbursements of
a portion of the insurance premium to the offerer. The method may
include additional, less, or alternate actions, including those
discussed elsewhere herein.
[0098] In a further aspect, at least one non-transitory
computer-readable media having computer-executable instructions
thereon may be provided. When executed by at least one processor of
a PSIM computing device, the instructions may cause the at least
one processor of the PSIM computing device to (i) receive, from a
data source, a plurality of property data, (ii) store the received
property data in a plurality of data records in a database, wherein
each data record is associated with one property and stores the
plurality of property data for that property, (iii) analyze the
property data for a property, wherein the property is offered by an
offerer, and wherein the offerer has an insurance policy on the
property and pays an insurance premium for the insurance policy,
(iv) determine, based upon the analyzed property data, a percentage
of time that the property is used for commercial purposes in an
insurance billing cycle, and/or (v) process one or more adjusted
insurance premiums for the offerer based upon the determined
percentage of time that the property is used for commercial
purposes in the insurance billing cycle, wherein the one or more
adjusted insurance premiums includes a reimbursement of a portion
of the insurance premium to the offerer. The instructions may
direct or control additional, less, or alternate functionality,
including that discussed elsewhere herein.
Machine Learning and Other Matters
[0099] The computer-implemented methods discussed herein may
include additional, less, or alternate actions, including those
discussed elsewhere herein. The methods may be implemented via one
or more local or remote processors, transceivers, servers, and/or
sensors (such as processors, transceivers, servers, and/or sensors
mounted on vehicles or mobile devices, or associated with smart
infrastructure or remote servers), and/or via computer-executable
instructions stored on non-transitory computer-readable media or
medium.
[0100] Additionally, the computer systems discussed herein may
include additional, less, or alternate functionality, including
that discussed elsewhere herein. The computer systems discussed
herein may include or be implemented via computer-executable
instructions stored on non-transitory computer-readable media or
medium.
[0101] A processor or a processing element may be trained using
supervised or unsupervised machine learning, and the machine
learning program may employ a neural network, which may be a
convolutional neural network, a deep learning neural network, or a
combined learning module or program that learns in two or more
fields or areas of interest. Machine learning may involve
identifying and recognizing patterns in existing data in order to
facilitate making predictions for subsequent data. Models may be
created based upon example inputs in order to make valid and
reliable predictions for novel inputs.
[0102] Additionally or alternatively, the machine learning programs
may be trained by inputting sample data sets or certain data into
the programs, such as image, mobile device, vehicle telematics,
autonomous vehicle, and/or intelligent home telematics data. The
machine learning programs may utilize deep learning algorithms that
may be primarily focused on pattern recognition, and may be trained
after processing multiple examples. The machine learning programs
may include Bayesian program learning (BPL), voice recognition and
synthesis, image or object recognition, optical character
recognition, and/or natural language processing--either
individually or in combination. The machine learning programs may
also include natural language processing, semantic analysis,
automatic reasoning, and/or machine learning.
[0103] In supervised machine learning, a processing element may be
provided with example inputs and their associated outputs, and may
seek to discover a general rule that maps inputs to outputs, so
that when subsequent novel inputs are provided the processing
element may, based upon the discovered rule, accurately predict the
correct output. In unsupervised machine learning, the processing
element may be required to find its own structure in unlabeled
example inputs. In one embodiment, machine learning techniques may
be used to extract data about the computer device, the user of the
computer device, driver and/or vehicle, home owner and/or home,
renter, geolocation information, image data, home sensor data,
and/or other data.
[0104] Based upon these analyses, the processing element may learn
how to identify characteristics and patterns that may then be
applied to analyzing sensor data, authentication data, image data,
mobile device data, and/or other data. For example, the processing
element may learn, with the user's permission or affirmative
consent, to predict suggestions for future sharing transactions to
the renter. The processing element may also learn how to identify
different types of problems and/or issues with offers to assist the
offerer based upon transaction and post transaction details.
ADDITIONAL CONSIDERATIONS
[0105] As will be appreciated based upon the foregoing
specification, the above-described embodiments of the disclosure
may be implemented using computer programming or engineering
techniques including computer software, firmware, hardware or any
combination or subset thereof. Any such resulting program, having
computer-readable code means, may be embodied or provided within
one or more computer-readable media, thereby making a computer
program product, e.g., an article of manufacture, according to the
discussed embodiments of the disclosure. The computer-readable
media may be, for example, but is not limited to, a fixed (hard)
drive, diskette, optical disk, magnetic tape, semiconductor memory
such as read-only memory (ROM), and/or any transmitting/receiving
medium, such as the Internet or other communication network or
link. The article of manufacture containing the computer code may
be made and/or used by executing the code directly from one medium,
by copying the code from one medium to another medium, or by
transmitting the code over a network.
[0106] These computer programs (also known as programs, software,
software applications, "apps", or code) include machine
instructions for a programmable processor, and can be implemented
in a high-level procedural and/or object-oriented programming
language, and/or in assembly/machine language. As used herein, the
terms "machine-readable medium" "computer-readable medium" refers
to any computer program product, apparatus and/or device (e.g.,
magnetic discs, optical disks, memory, Programmable Logic Devices
(PLDs)) used to provide machine instructions and/or data to a
programmable processor, including a machine-readable medium that
receives machine instructions as a machine-readable signal. The
"machine-readable medium" and "computer-readable medium," however,
do not include transitory signals. The term "machine-readable
signal" refers to any signal used to provide machine instructions
and/or data to a programmable processor.
[0107] As used herein, a processor may include any programmable
system including systems using micro-controllers, reduced
instruction set circuits (RISC), application specific integrated
circuits (ASICs), logic circuits, and any other circuit or
processor capable of executing the functions described herein. The
above examples are example only, and are thus not intended to limit
in any way the definition and/or meaning of the term
"processor."
[0108] As used herein, the terms "software" and "firmware" are
interchangeable, and include any computer program stored in memory
for execution by a processor, including RAM memory, ROM memory,
EPROM memory, EEPROM memory, and non-volatile RAM (NVRAM) memory.
The above memory types are example only, and are thus not limiting
as to the types of memory usable for storage of a computer
program.
[0109] In one embodiment, a computer program is provided, and the
program is embodied on a computer readable medium. In an exemplary
embodiment, the system is executed on a single computer system,
without requiring a connection to a sever computer. In a further
embodiment, the system is being run in a Windows.RTM. environment
(Windows is a registered trademark of Microsoft Corporation,
Redmond, Wash.). In yet another embodiment, the system is run on a
mainframe environment and a UNIX.RTM. server environment (UNIX is a
registered trademark of X/Open Company Limited located in Reading,
Berkshire, United Kingdom). The application is flexible and
designed to run in various different environments without
compromising any major functionality.
[0110] In some embodiments, the system includes multiple components
distributed among a plurality of computing devices. One or more
components may be in the form of computer-executable instructions
embodied in a computer-readable medium. The systems and processes
are not limited to the specific embodiments described herein. In
addition, components of each system and each process can be
practiced independent and separate from other components and
processes described herein. Each component and process can also be
used in combination with other assembly packages and processes. The
present embodiments may enhance the functionality and functioning
of computers and/or computer systems.
[0111] As used herein, an element or step recited in the singular
and preceded by the word "a" or "an" should be understood as not
excluding plural elements or steps, unless such exclusion is
explicitly recited. Furthermore, references to "example embodiment"
or "one embodiment" of the present disclosure are not intended to
be interpreted as excluding the existence of additional embodiments
that also incorporate the recited features.
[0112] The patent claims at the end of this document are not
intended to be construed under 35 U.S.C. .sctn. 112(f) unless
traditional means-plus-function language is expressly recited, such
as "means for" or "step for" language being expressly recited in
the claim(s).
[0113] This written description uses examples to disclose the
disclosure, including the best mode, and also to enable any person
skilled in the art to practice the disclosure, including making and
using any devices or systems and performing any incorporated
methods. The patentable scope of the disclosure is defined by the
claims, and may include other examples that occur to those skilled
in the art. Such other examples are intended to be within the scope
of the claims if they have structural elements that do not differ
from the literal language of the claims, or if they include
equivalent structural elements with insubstantial differences from
the literal language of the claims.
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