Allstate has filed a patent for a system that can calculate the risk and revenue associated with providing shared mobility services in a specific area. The system then determines an adjusted service area that reduces risk or increases revenue and transmits this information to the shared mobility service’s device. GlobalData’s report on Allstate gives a 360-degree view of the company including its patenting strategy. Buy the report here.
According to GlobalData’s Allstate's grant share as of June 2023 was 1%. Grant share is based on the ratio of number of grants to total number of patents.
Optimizing service area for shared mobility services
A recently filed patent (Publication Number: US20230206768A1) describes a method and system for optimizing service areas in shared mobility services. The method involves receiving user inputs indicating the service area, calculating risk, customer lifetime value, or revenue associated with the service area, and determining an optimized service area that reduces risk or increases customer lifetime value or revenue. The system includes a shared mobility support platform with processors and memory storing instructions to receive inputs, calculate metrics, determine the optimized service area, and generate instructions for modifying the service area.
The method allows users to input their desired service area using zip codes or by defining a boundary on a map. The system then calculates risk, customer lifetime value, or revenue associated with the service area. To determine the optimized service area, the system repeatedly changes the boundary of the service area and identifies local maxima that optimize the metrics. This process may involve adding or removing zip codes from the service area until the optimal configuration is found.
The reduction in risk is determined using a risk-adjusted price per mile and an estimated demand, which are calculated using machine learning models trained on data inputs. The system can also generate instructions for vehicles to pick up or drop off passengers outside the service area but within the optimized service area.
The shared mobility support platform described in the patent includes processors and memory that store instructions for receiving user inputs, calculating metrics, determining the optimized service area, and generating instructions for modifying the service area. The user inputs can define the service area boundary using zip codes or by drawing on a map.
The patent also covers non-transitory computer-readable media storing instructions that, when executed by the shared mobility support platform, perform the method described above. These instructions allow the platform to receive user inputs, calculate metrics, determine the optimized service area, and transmit instructions for modifying the service area.
Overall, this patent presents a method and system for optimizing service areas in shared mobility services, allowing for improved risk management, customer lifetime value, and revenue generation. The system can dynamically adjust the service area based on user inputs and continuously optimize the configuration to maximize performance.
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