State Farm Mutual Automobile Insurance had 20 patents in blockchain during Q4 2023. State Farm Mutual Automobile Insurance Co has filed patents for methods and systems related to tracking EV battery health, managing subrogation claims on a shared ledger, updating customer mortgage information on a blockchain, creating distributed ledgers for VIN recordkeeping, and maintaining a ledger for autonomous vehicles and smart contracts. These innovations aim to improve efficiency and accuracy in various aspects of insurance and vehicle management. 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.
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State Farm Mutual Automobile Insurance grant share with blockchain as a theme is 35% in Q4 2023. Grant share is based on the ratio of number of grants to total number of patents.
Recent Patents
Application: Systems and methods for qr code battery health based tracking (Patent ID: US20230410575A1)
The patent filed by State Farm Mutual Automobile Insurance Co. describes a computer-implemented method for tracking the health and usage of electric vehicle (EV) batteries using Quick Response (QR) codes. The method involves capturing an image of a tag affixed to the EV, analyzing the image to identify the EV, determining vehicle battery data associated with the rechargeable battery powering the EV, and providing a battery status indication via a user interface. The system utilizes blockchain technology to store data related to the EV and battery, and machine learning models to predict battery status indications based on historical data.
The method also includes determining vehicle data associated with the EV, such as make, model, and historical operational data, to provide a comprehensive overview of the EV's health and usage. Additionally, the system can generate vehicle insurance and loan quotes based on the collected data. By leveraging QR codes and blockchain technology, this method offers a streamlined approach to monitoring EV battery health and usage, enabling users to make informed decisions regarding maintenance, insurance, and financing for electric vehicles.
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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.
