Blockchain systems and methods for providing insurance coverage to affinity groups

Patent metadata

Field	Value
Publication number	US-2022012812-A1
Application number	US-202016853693-A
Country	US
Kind code	A1
Filing date	Apr 20, 2020
Priority date	Oct 6, 2014
Publication date	Jan 13, 2022
Grant date	—

Abstract

Techniques for obtaining and/or maintaining insurance coverage include receiving customer information for customers including insurance policy preferences or characteristics for each customer. These techniques further include grouping the customers into affinity groups by generating a set of preferences or characteristics for each affinity group, comparing the insurance policy preferences or characteristics for each customer to the set of preferences or characteristics for each affinity group, and assigning a customer to an affinity group in response to determining that at least a threshold number of insurance policy preferences or characteristics for the customer matches the set of preferences or characteristics for the affinity group. For at least one affinity group, an insurance provider is selected for providing an insurance policy to each of the customers in the affinity group, and each of the customers in the affinity group is notified of the selected insurance provider and the premium.

First claim

What is claimed:

1 . A computer-implemented method comprising:
receiving, at one or more hardware servers of an intermediary entity, customer information for a plurality of customers, the customer information including insurance policy preferences or characteristics for each customer; grouping, by the one or more hardware servers of an intermediary entity, the plurality of customers into one or more affinity groups by:
generating a set of preferences or characteristics for each affinity group;
comparing the insurance policy preferences or characteristics for each customer to the set of preferences or characteristics for each affinity group; and
assigning one of the plurality of customers to one of the affinity groups in response to determining that at least a threshold number of insurance policy preferences or characteristics for the customer matches the set of preferences or characteristics for the affinity group;
for at least one affinity group, selecting, by the one or more hardware servers of an intermediary entity, an insurance provider of a plurality of insurance providers for providing an insurance policy to each of the customers in the affinity group, wherein the insurance policy has (i) policy features, and (ii) a premium corresponding to a policy term; and
notifying, via a communication interface of the one or more hardware servers of the intermediary entity, each of the plurality of customers in the affinity group of the selected insurance provider and the premium.

2 . The computer-implemented method of claim 1 , wherein assigning one of the plurality of customers to one of the affinity groups includes:
determining a compatibility score for the customer based on the insurance policy preferences or characteristics for the customer and the set of preferences or characteristics for the affinity group.

3 . The computer-implemented method of claim 2 , wherein the compatibility score is determined based on a magnitude of differences between the insurance policy preferences or characteristics for the customer and the set of preferences or characteristics for the affinity group.

4 . The computer-implemented method of claim 1 , wherein receiving customer information includes receiving demographic information about the customer.

5 . The computer-implemented method of claim 1 , wherein receiving customer information includes receiving information about a property of the customer that is to be insured.

6 . The computer-implemented method of claim 1 , wherein receiving customer information includes receiving one or more policy features required or preferred by the customer.

7 . The computer-implemented method of claim 4 , wherein receiving customer information includes receiving one or more of:
one or more coverage types required or preferred by the customer; one or more deductibles required or preferred by the customer; one or more coverage limits required or preferred by the customer; an insurer rating required or preferred by the customer; or a premium range required or preferred by the customer.

8 . The computer-implemented method of claim 1 , wherein selecting an insurance provider of a plurality of insurance providers for providing an insurance policy to each of the customers in the affinity group includes:
providing affinity group information associated with the affinity group to the plurality of insurance providers; receiving one or more bids from each of one or more of the plurality of insurance providers, including a bid from the insurance provider; and selecting the bid from the insurance provider as a best bid, the best bid corresponding to the policy features and the premium.

9 . The computer-implemented method of claim 1 , wherein selecting an insurance provider of a plurality of insurance providers for providing an insurance policy to each of the customers in the affinity group includes:
providing affinity group information associated with the affinity group to the plurality of insurance providers; receiving a quote from each of one or more of the plurality of insurance providers, including a quote from the insurance provider; and selecting the quote from the insurance provider as a best quote, the best quote corresponding to the policy features and the premium.

10 . The computer-implemented method of claim 1 , wherein receiving customer information associated with the customer includes receiving customer information entered by the customer at a client device using an on-line form.

11 . The computer-implemented method of claim 1 , wherein:
notifying each of the plurality of customers in the affinity group of the selected insurance provider and the premium includes automatically generating an email and sending the email to client devices of each of the plurality of customers in the affinity group.

12 . A system comprising:
a data storage storing a customer profile database; a communication interface configured to communicate with remote devices via a network; one or more processors; and a non-transitory, computer-readable medium storing instructions that, when executed by the one or more processors, cause the one or more processors to:
receive customer information for a plurality of customers, the customer information including insurance policy preferences or characteristics for each customer;
group the plurality of customers into one or more affinity groups by:
generating a set of preferences or characteristics for each affinity group;
comparing the insurance policy preferences or characteristics for each customer to the set of preferences or characteristics for each affinity group; and
assigning one of the plurality of customers to one of the affinity groups in response to determining that at least a threshold number of insurance policy preferences or characteristics for the customer matches the set of preferences or characteristics for the affinity group;

for at least one affinity group, select an insurance provider of a plurality of insurance providers for providing an insurance policy to each of the customers in the affinity group, wherein the insurance policy has (i) policy features, and (ii) a premium corresponding to a policy term; and
notify, via the communication interface, each of the plurality of customers in the affinity group of the selected insurance provider and the premium.

13 . The system of claim 12 , wherein to assign one of the plurality of customers to one of the affinity groups, the instructions cause the one or more processors to:
determine a compatibility score for the customer based on the insurance policy preferences or characteristics for the customer and the set of preferences or characteristics for the affinity group.

14 . The system of claim 13 , wherein the compatibility score is determined based on a magnitude of differences between the insurance policy preferences or characteristics for the customer and the set of preferences or characteristics for the affinity group.

15 . The system of claim 12 , wherein the customer information includes one or both of:
demographic information about the customer; or information about a property of the customer that is to be insured.

16 . The system of claim 12 , wherein the customer information includes one or more policy features required or preferred by the customer.

17 . The system of claim 16 , wherein the customer information includes one or more of:
one or more coverage types required or preferred by the customer; one or more deductibles required or preferred by the customer; one or more coverage limits

Assignees

• State Farm Mutual Automobile Insurance Co

Inventors

• Roll Leif Agerholm
• Webster Eric
• Hayward Gregory
• Isaacs Craig Dean

Classifications

• H04L9/50

  using hash chains, e.g. blockchains or hash trees · CPC title

• G06Q30/08

  Auctions · CPC title

• G06Q40/08 Primary

  Insurance · CPC title

• G06Q10/10

  Office automation; Time management · CPC title

• H04L2209/38

  Electricity · mapped topic