State Farm Mutual Automobile Insurance had one patents in internet of things during Q3 2023. State Farm Mutual Automobile Insurance Co has filed patents related to various technologies. One patent involves using LIDAR data from cameras to analyze features of a home and generate homeowners insurance quotes. Another patent focuses on presenting extended reality (XR) environments and receiving user preferences through XR devices. A smart energy platform patent aims to control energy consumption at a property based on user input, property data, weather data, and energy pricing data. Lastly, there is a patent for processing vehicle-related insurance claims using XR devices to create virtual reconstructions of damage-causing events for viewing and approval. 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 internet of things as a theme is 0% in Q3 2023. Grant share is based on the ratio of number of grants to total number of patents.

Recent Patents

Application: Systems and methods for light detection and ranging (LIDAR) based generation of a homeowners insurance quote (Patent ID: US20230274367A1)

State Farm Mutual Automobile Insurance Co. has filed a patent related to using light detection and ranging (LIDAR) data to generate homeowners insurance quotes. The system receives LIDAR data from one or more LIDAR cameras and analyzes it to determine features or characteristics of a home. Based on this analysis, an electronic homeowners insurance quote is generated. The method involves displaying instructions to a customer on how to install LIDAR cameras, providing an insurance discount to the customer after installation, generating LIDAR data, receiving the LIDAR data, analyzing it to identify personal articles or insurable assets, creating an electronic inventory list of personal belongings, and generating an electronic personal articles insurance quote based on the identified assets.

The patent also includes claims for transmitting the insurance quote to the customer's mobile device for review, modification, and approval. The LIDAR cameras can be positioned within the customer's home. The method further involves transmitting the electronic inventory list to the customer's mobile device for review, modification, and approval. The additional sources of data for generating the inventory list include mobile device data and/or images, smart home sensor data and/or images, drone sensor data and/or images, vehicle sensor data and/or images, and smart infrastructure data and/or images. The inventory list can include vehicles, electronic devices, televisions, furniture, and paintings. The LIDAR data can be received via wireless communication or data transmission over radio frequency links.

The patent also describes a computer system configured to generate the electronic personal articles insurance quote. The system includes processors, transceivers, sensors, and/or servers that display instructions to the customer, provide an insurance discount after camera installation, generate LIDAR data, receive the LIDAR data, analyze it to identify personal articles or insurable assets, create an electronic inventory list, and generate the insurance quote. The system can transmit the quote to the customer's mobile device for review, modification, and approval. The LIDAR cameras can be installed in the customer's home, and the additional sources of data for the inventory list include mobile device data and/or images, smart home sensor data and/or images, drone sensor data and/or images, vehicle sensor data and/or images, and smart infrastructure data and/or images.

In summary, State Farm's patent involves using LIDAR data from cameras to analyze and determine features of a home, generate an inventory list of personal belongings, and generate an insurance quote based on the identified assets. The system can transmit the quote to the customer's mobile device for review and approval.

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

Premium 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

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.