Aon has filed a patent for systems and methods to protect intellectual property (IP) assets. The technology analyzes user information and feedback from insurers to determine insurance policy terms for protecting against IP infringement claims. The policy includes financial reimbursement for costs incurred in mitigating losses and defending against claims. The system also identifies users with low exposure to infringement claims and actively targets them to acquire IP protection policies. GlobalData’s report on Aon gives a 360-degree view of the company including its patenting strategy. Buy the report here.
According to GlobalData’s Aon'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.
Ip asset protection insurance policy
A recently filed patent (Publication Number: US20230169600A1) describes a system and method for determining insurance costs and terms for entities seeking coverage against claims of intellectual property infringement. The system includes one or more processors and computer-readable media storing instructions that, when executed, perform various operations. These operations include receiving a request for an insurance quote, receiving information about the entity seeking coverage, generating characteristic data based on the received information, and training a machine learning model to determine infringement exposure values associated with entities using a training dataset of historical policy performance metrics.
The system then determines an infringement exposure value for the entity based on the characteristic data and the trained machine learning model. Feedback data associated with the infringement exposure value is received, and a cost for insuring the entity against the claim of intellectual property infringement is determined based on the infringement exposure value and the feedback data. Additionally, at least one term of an insurance policy associated with the entity, including the cost, is determined.
The system takes into account various types of information about the entity, such as business information (industry classification, number of employees, revenue value), intellectual property information (number of intellectual property assets, type of intellectual property, licensing agreements, existing insurance policies), and legal claim information (litigation history, infringement allegations, resolution information). These factors are used to determine the infringement exposure value and the cost of insurance.
The method described in the patent involves similar steps, including training a machine learning model, determining infringement exposure values, and determining insurance costs and terms based on characteristic data associated with the entity. The method also includes receiving feedback data, issuing the insurance policy upon acceptance, and determining liability costs for both the entity and the insurer.
Another aspect of the invention is the identification of entities with exposure values below a threshold and sending them a preliminary insurance policy indication. This indication includes a preliminary cost for insuring the entity, which can be further refined based on additional information provided by the entity.
Overall, the patent describes a system and method that utilize machine learning and various types of data to determine insurance costs and terms for entities seeking coverage against claims of intellectual property infringement. By considering multiple factors and historical performance metrics, the system aims to provide accurate and tailored insurance solutions for entities in need of protection.