State Farm Mutual Automobile Insurance. has filed a patent for a system to generate and display an overall home score for a property. The method involves retrieving property attributes, determining home score factors, generating an overall score, and displaying it along with a neighborhood score and map. GlobalData’s report on State Farm Mutual Automobile Insurance gives a 360-degree view of the company including its patenting strategy. Buy the report here.
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According to GlobalData’s company profile on State Farm Mutual Automobile Insurance, Digital lending was a key innovation area identified from patents. State Farm Mutual Automobile Insurance's grant share as of January 2024 was 72%. Grant share is based on the ratio of number of grants to total number of patents.
Property home score generation and display system
The patent application (Publication Number: US20240037680A1) describes a computer-implemented method for generating and displaying an overall home score for a property. The method involves retrieving various attributes of the property, such as fire hazard, safety, weather hazard, and property feature attributes. Based on these attributes, the method determines home score factors including fire hazard score, safety score, weather hazard score, and property feature hazard score. The overall home score is then generated and displayed by the computer processors. Additionally, the method includes displaying a map with color-coded indications of home scores for other properties, allowing users to compare and select properties based on their overall home scores and individual hazard scores.
Furthermore, the patent application details the ability of the method to calculate a neighborhood score by averaging the overall home scores of nearby properties. It also outlines the process of determining specific hazard scores based on attributes like distance from water or a fire station for fire hazard, burglary likelihood for safety, and various weather grades for weather hazard. The method can retrieve property attributes from external databases or mobile devices associated with the property. Overall, the computer system described in the patent application aims to provide a comprehensive evaluation of a property's safety and hazard risks through a systematic scoring system, enabling users to make informed decisions when selecting a property based on its overall home score and neighborhood score.
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