State Farm Mutual Automobile Insurance had 11 patents in cybersecurity during Q3 2023. State Farm Mutual Automobile Insurance Co has filed patents for systems and methods that utilize blockchain technology for managing the subrogation claim process in vehicle collisions. The patents also include the use of evidence oracles in the subrogation process. Additionally, the company has filed patents for autonomous and semi-autonomous vehicle control, routing, and automatic feature adjustment. These patents describe the use of sensors in vehicles to search for missing persons or stolen vehicles, with the sensor data being collected and analyzed to passively search for these individuals or items of interest. The search criteria can be determined by a remote server and communicated to multiple vehicles in a search area. When a vehicle’s sensor data matches the search criteria, the information is communicated back to the remote server. 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.

State Farm Mutual Automobile Insurance grant share with cybersecurity as a theme is 64% in Q3 2023. Grant share is based on the ratio of number of grants to total number of patents.

Recent Patents

Application: Evidence oracles (Patent ID: US20230260047A1)

State Farm Mutual Automobile Insurance Co. has filed a patent for using blockchain technology to manage the subrogation claim process for vehicle collisions. The patent describes a computer-implemented method for interacting with a distributed ledger, where sensor data indicative of a vehicle accident is received and analyzed to determine that an accident has occurred. A transaction is then generated, including an identifier for the vehicle involved in the accident, and transmitted to other participants via the distributed ledger.

The patent claims include various aspects of the method, such as receiving sensor data from the vehicle involved in the accident, analyzing vehicle components to assess potential damage, determining a subrogation claim related to the accident, generating a smart contract for the claim, and deploying the smart contract to the distributed ledger. The claims also cover generating a damages dataset based on the analysis of vehicle components, augmenting the transaction with identity data and a cryptographic signature, and transmitting the transaction to a smart contract stored on the distributed ledger.

The patent also describes a computer system for interacting with the distributed ledger, including one or more processors configured to receive sensor data, determine that an accident has occurred, generate a transaction with the vehicle identifier, and transmit the transaction via the distributed ledger. The system can also analyze vehicle components, generate a cryptographic signature, and interface with a network interface and memory.

Overall, the patent filed by State Farm Mutual Automobile Insurance Co. outlines a method and system for using blockchain technology to manage the subrogation claim process for vehicle collisions. By utilizing sensor data and a distributed ledger, the system aims to streamline and automate the claims process, improving efficiency and accuracy.

To know more about GlobalData’s detailed insights on State Farm Mutual Automobile Insurance, buy the report here.

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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.