State Farm Mutual Automobile Insurance had five patents in social media during Q4 2023. State Farm Mutual Automobile Insurance Co filed patents in Q4 2023 for methods to identify fraudulent online applications using browsing activity and prevent fraudulent online financial transactions by analyzing geolocation data. The first method involves flagging virtual applications as fraudulent if online browsing history shows recent searches for the applicant name. The second method involves determining the geographic location of the authorized cardholder during a financial transaction and preventing the transaction if it does not correspond to the location of the computing device used for the transaction. 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 social media as a theme is 60% in Q4 2023. Grant share is based on the ratio of number of grants to total number of patents.
Recent Patents
Application: Identifying fraudulent online applications (Patent ID: US20230394500A1)
The patent filed by State Farm Mutual Automobile Insurance Co. describes a method for identifying fraudulent online applications by analyzing browsing activity associated with the user device. The method involves providing an online application to a user device, retrieving online searching activity, determining if the activity indicates a search for applicant data, and taking fraud mitigation actions if fraudulent activity is detected. These actions include flagging the application as potentially fraudulent or generating an electronic alert. The system also incorporates machine learning algorithms to enhance fraud detection capabilities.
Furthermore, the system described in the patent includes a computer system with processors and computer-readable media storing instructions to perform operations related to identifying fraudulent online applications. The system provides online applications, retrieves browsing activity, determines fraudulent activity based on the browsing history, and takes appropriate fraud mitigation actions. The system can analyze various types of online searching activity, such as social media activity and Internet search history, to enhance the accuracy of fraud detection. Additionally, the system can utilize GPS location data and IP addresses to further validate the authenticity of the application and prevent fraudulent activities effectively.
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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.
