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:
Oct. 07, 2025
Filed:
Oct. 10, 2022
State Farm Mutual Automobile Insurance Company, Bloomington, IL (US);
Ryan Michael Gross, Normal, IL (US);
M Eric Riley, Sr., Heyworth, IL (US);
Jody Ann Thoele, Bloomington, IL (US);
Jordan Jeffers, Normal, IL (US);
Shawn Renee Harbaugh, Normal, IL (US);
Rick Lovings, Normal, IL (US);
Joann C. Yant, Bloomington, IL (US);
Jenny L. Jacobs, Normal, IL (US);
Erik Skyten, Harriman, TN (US);
STATE FARM MUTUAL AUTOMOBILE INSURANCE COMPANY, Bloomington, IL (US);
Abstract
Systems and methods are described for performing analysis of parametric events. The method may include: (1) receiving weather data from a weather oracle network; (2) calculating, using a first trained machine learning algorithm, a likelihood of a trigger activation for a parametric event (or a trigger event) for a user based at least upon the weather data; (3) calculating, using a second trained machine learning algorithm, an estimated loss for the user based at least upon the likelihood of the trigger activation; (4) determining an initial coverage for the user; and (5) determining whether to offer the user updated coverage for the parametric event based at least upon a comparison of the initial coverage and the estimated loss for the user.