Trupanion has been granted a patent for a pet medical insurance system that enables real-time coverage for veterinary hospitals. The system includes a backend component and data integration systems in practice management systems, reducing data traffic and improving efficiency in processing insurance claims. GlobalData’s report on Trupanion gives a 360-degree view of the company including its patenting strategy. Buy the report here.
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According to GlobalData’s company profile on Trupanion, AI for workflow management was a key innovation area identified from patents. Trupanion's grant share as of May 2024 was 16%. Grant share is based on the ratio of number of grants to total number of patents.
Real-time pet medical insurance system for veterinary hospitals
A recently granted patent (Publication Number: US12014329B2) discloses a pet medical insurance system that revolutionizes the way insurance coverage is determined and processed in veterinary practices. The system comprises a backend component and a plurality of data integration systems integrated into practice management systems. These data integration systems cache relevant data about treatments and procedures associated with patients, automatically update this data upon changes, and transmit it to the backend component. This innovative approach reduces traffic between practice management systems and the backend, streamlining the insurance coverage determination process.
Furthermore, the system allows for real-time claim processing by integrating an abstracted engine into practice management systems. This engine facilitates communication and data processing across various databases of practice management systems. By caching relevant data, detecting changes, and updating information in real-time, the system ensures that insurance coverage eligibility is determined promptly. The backend component processes claims for treatments and procedures, facilitating seamless payment to veterinary practices. Additionally, the system generates notifications of data changes and updated insurance information, providing immediate access to up-to-date insurance details for both the network of devices and practice management systems. This patent showcases a sophisticated pet medical insurance system that enhances efficiency and accuracy in insurance coverage determination and claim processing within veterinary practices.
To know more about GlobalData’s detailed insights on Trupanion, 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.
