The patent badge is an abbreviated version of the USPTO patent document. The patent badge does contain a link to the full patent document.
The patent badge is an abbreviated version of the USPTO patent document. The patent badge covers the following: Patent number, Date patent was issued, Date patent was filed, Title of the patent, Applicant, Inventor, Assignee, Attorney firm, Primary examiner, Assistant examiner, CPCs, and Abstract. The patent badge does contain a link to the full patent document (in Adobe Acrobat format, aka pdf). To download or print any patent click here.
Patent No.:
Date of Patent:
Jul. 14, 2020
Filed:
Jan. 12, 2018
State Farm Mutual Automobile Insurance Company, Bloomington, IL (US);
Leif Agerholm Roll, Bloomington, IL (US);
Craig Dean Isaacs, Bloomington, IL (US);
Eric Webster, Bloomington, IL (US);
Gregory L. Hayward, Bloomington, IL (US);
STATE FARM MUTUAL AUTOMOBILE INSURANCE COMPANY, Bloomington, IL (US);
Abstract
Multiple insurance policies may be grouped or segmented into affinity groups, each of which corresponds to a respective risk level. A set of financial instruments corresponding to a particular affinity group of insurance policies may be created and automatically offered for auction, e.g., online. Bids received from potential investors may indicate, e.g., percentage of assumed risk, percentage of profit sharing, percentage of shared loss, service or commission fee amounts, etc. that are acceptable to the bidding party. The party or parties submitting the winning bids may be awarded investment in the financial instruments and may enter into respective financial agreements with the financial instrument provider, thereby securitizing the risk associated with the insurance policies. Profits and/or losses generated by the insurance policies of the affinity group corresponding to the financial instruments may be distributed in accordance with the terms of the financial agreement.