State Farm Mutual Automobile Insurance had seven patents in metaverse during Q4 2023. State Farm Mutual Automobile Insurance Co filed patents for systems and methods for capturing digital image data of a property for insurance quotes using a mobile device, eliminating the need for manual assessment. Another patent involves a computer-implemented method for virtual visualization of overall regions, where images are used to generate virtual models and additional image data is captured for higher resolution models. 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 metaverse as a theme is 71% in Q4 2023. Grant share is based on the ratio of number of grants to total number of patents.

Recent Patents

Application: Electronic device data capture for property insurance quotes (Patent ID: US20230342863A1)

The patent filed by State Farm Mutual Automobile Insurance Co. describes systems and methods for capturing digital image data of a property using a mobile device to determine insurability and estimated replacement cost. The mobile device allows users to capture images and videos of house features, eliminating the need for manual assessments by homeowners. The data captured is analyzed by a back-end server to generate an insurance quote or application, which is then transmitted back to the mobile device for user review and approval. The user can select terms, deductibles, limits, and coverages through the mobile device, ultimately approving a homeowner's insurance policy.

The patent includes claims for a computer-implemented method in an electronic device to identify components within a property for obtaining a property insurance quote. The method involves capturing digital image data, analyzing it using object detection techniques to identify components, and displaying this information to the user through an augmented reality overlay. The system populates an inventory list with the identified components and can prepare an application for the property insurance policy, including calculating estimated replacement costs for each component. The electronic device can also transmit data to a remote server for further analysis, identify the location of the device, provide walk-through instructions for capturing data, and handle unrecognized components by updating the application accordingly.

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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.