James Peng

Title: Innovations by James Peng in Vehicle Insurance Premium Calculation

Introduction

James Peng is an innovative inventor based in Normal, IL (US). He has made significant contributions to the field of insurance technology, particularly in the area of vehicle insurance premiums. His work focuses on utilizing mobile devices to enhance the accuracy and efficiency of insurance premium calculations.

Latest Patents

James Peng holds a patent for a method that uses a mobile device to provide data for insurance premiums to a remote computer. This patent outlines a process for collecting vehicle operation data via a mobile device while it is associated with an operating vehicle. The collected data, which has predictive power regarding insurance risk, is transmitted to a remote computer or server. The server then stores this data and determines the vehicle insurance premium based on the collected information.

Career Highlights

James Peng is currently employed at State Farm Mutual Automobile Insurance Company, where he applies his expertise in insurance technology. His innovative approach to data collection and analysis has the potential to revolutionize how insurance premiums are calculated, making the process more transparent and data-driven.

Collaborations

James has collaborated with notable colleagues, including Benjamin F Bowne and Nicholas R Baker, who share his commitment to advancing technology in the insurance sector.

Conclusion

James Peng's contributions to the field of vehicle insurance through his innovative patent demonstrate the importance of technology in enhancing insurance practices. His work not only benefits the insurance industry but also provides a more accurate assessment of risk for consumers.