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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.:

US 12034833 B1

PDFFull Text
Date of Patent:
Jul. 09, 2024

Filed:

Sep. 16, 2022

Systems and methods for feature-based rating via blockchain

Applicant:

State Farm Mutual Automobile Insurance Company, Bloomington, IL (US);

Inventors:

William J. Leise, Normal, IL (US);

Douglas A. Graff, Mountain View, MO (US);

Stacie A. McCullough, Bloomington, IL (US);

Shawn M. Call, Bloomington, IL (US);

Eric Bellas, Bloomington, IL (US);

Jaime Skaggs, Chenoa, IL (US);

Jacob J. Alt, Downs, IL (US);

Eric R. Moore, Heyworth, IL (US);

Vicki King, Bloomington, IL (US);

Assignee:

STATE FARM MUTUAL AUTOMOBILE INSURANCE COMPANY, Bloomington, IL (US);

Attorney:

MARSHALL, GERSTEIN & BORUN LLP

Primary Examiner:

Longbit Chai

Int. Cl.
CPC ...
H04L 29/06 (2006.01); G06F 16/901 (2019.01); G06F 21/60 (2013.01); G06Q 10/10 (2023.01); G06Q 10/20 (2023.01); G06Q 30/018 (2023.01); G06Q 30/02 (2023.01); G06Q 40/02 (2023.01); G06Q 40/03 (2023.01); G06Q 40/08 (2012.01); G07C 5/00 (2006.01); G07C 5/08 (2006.01); H04L 9/06 (2006.01); H04L 9/30 (2006.01); H04L 9/32 (2006.01); G01C 22/00 (2006.01); H04L 9/00 (2022.01);
U.S. Cl.
CPC ...
H04L 9/0637 (2013.01); G06F 16/9027 (2019.01); G06F 21/602 (2013.01); G06Q 10/10 (2013.01); G06Q 10/20 (2013.01); G06Q 30/018 (2013.01); G06Q 30/0278 (2013.01); G06Q 40/02 (2013.01); G06Q 40/03 (2023.01); G06Q 40/08 (2013.01); G07C 5/006 (2013.01); G07C 5/008 (2013.01); G07C 5/0808 (2013.01); G07C 5/0816 (2013.01); G07C 5/085 (2013.01); H04L 9/30 (2013.01); H04L 9/3239 (2013.01); G01C 22/00 (2013.01); G06Q 2220/00 (2013.01); H04L 9/3236 (2013.01); H04L 9/3247 (2013.01); H04L 9/50 (2022.05); H04L 2209/84 (2013.01);
Abstract

The present embodiments relate to systems and methods for using a blockchain to record information related to the lifecycle of a vehicle associated with a Vehicle Identification Number (VIN). For example, the VIN lifecycle process may be used to develop safety-feature based insurance models. The systems and methods may include calculating a safety rating for a safety feature based upon data accessed at a blockchain. The safety rating may be used to generate a product associated with a new vehicle type, such as an insurance product covering the new vehicle type. The systems and methods described herein may allow for using a blockchain which gives the option for private information, and permissioned participants in the blockchain. In particular, the systems and methods may allow for a distributed consensus amongst businesses, consumers, and authorities, as to the validity of information and transactions stored on the blockchain.

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