State Farm Mutual Automobile Insurance had 12 patents in big data during Q4 2023. State Farm Mutual Automobile Insurance Co has filed patents for transportation analytics computing device, homeowner-directed risk mitigation system, and systems for evaluating and analyzing home data to generate a home score. These inventions aim to improve insurance-related processes by utilizing smart technology and machine learning models to assess risks, calculate premiums, and provide discounts based on data analysis. GlobalData’s report on State Farm Mutual Automobile Insurance gives a 360-degreee view of the company including its patenting strategy. Buy the report here.
Smarter leaders trust GlobalData
State Farm Mutual Automobile Insurance grant share with big data as a theme is 50% in Q4 2023. Grant share is based on the ratio of number of grants to total number of patents.
Recent Patents
Application: Transportation analytics systems and methods using a mobility device embedded within a vehicle (Patent ID: US20230401650A1)
State Farm Mutual Automobile Insurance Co. has filed a patent for a transportation analytics (TA) computing device that involves receiving telematics data from a user's mobile device for trips taken using a transportation platform, storing this data in a database, identifying data for a specific time period, calculating a premium amount based on the data, and transferring the premium amount from the transportation platform account to an insurer account. The computing device is designed to facilitate the calculation of transportation costs, including insurance premiums, for users utilizing a transportation network.
The patent claims outline the functionality of the computing device, including receiving telematics data from the user's mobile device, storing trip data in a database, identifying data for specific time periods, calculating transportation costs and premiums, and transferring these amounts between accounts. Additionally, the device generates user interfaces for selecting coverage types and amounts, links to transportation devices like vehicles or bicycles, and enables user inputs to customize coverage options. The patent aims to streamline the process of calculating and transferring insurance premiums within a transportation network, enhancing user experience and efficiency in managing insurance policies related to transportation services.
To know more about GlobalData’s detailed insights on State Farm Mutual Automobile Insurance, buy the report here.
Data Insights
From
The gold standard of business intelligence.
Blending expert knowledge with cutting-edge technology, GlobalData’s unrivalled proprietary data will enable you to decode what’s happening in your market. You can make better informed decisions and gain a future-proof advantage over your competitors.
GlobalData, the leading provider of industry intelligence, provided the underlying data, research, and analysis used to produce this article.
GlobalData Patent Analytics tracks bibliographic data, legal events data, point in time patent ownerships, and backward and forward citations from global patenting offices. Textual analysis and official patent classifications are used to group patents into key thematic areas and link them to specific companies across the world’s largest industries.
