USAA’s patented system uses machine learning to generate insurance policy information based on user requests. It creates a machine-readable image for proof of insurance, excluding irrelevant details, and sends it to the requester’s device. The technology streamlines the process and enhances security. GlobalData’s report on USAA gives a 360-degree view of the company including its patenting strategy. Buy the report here.
Smarter leaders trust GlobalData
According to GlobalData’s company profile on USAA, Digital lending was a key innovation area identified from patents. USAA's grant share as of February 2024 was 99%. Grant share is based on the ratio of number of grants to total number of patents.
Insurance policy information generation and authentication system
A recently granted patent (Publication Number: US11922527B1) outlines a system that utilizes machine learning algorithms to generate models based on requests for insurance policy information. The system, operated by a first computing device, receives requests for proof of insurance associated with user test driving a vehicle. By identifying relevant portions of insurance policy information based on the requester's information and reason for the request, the system modifies and generates machine-readable images with embedded symbols for authentication. These images are then sent to a second computing device for further processing.
The patent also details a method and a non-transitory computer-readable medium with similar functionalities, emphasizing the use of machine learning algorithms to streamline the process of providing insurance information. The system can handle various types of insurance information, including health insurance cards, automobile insurance cards, homeowner insurance policy documents, and more. Additionally, the system encrypts and censors irrelevant portions of the insurance information to ensure data security and relevance. The machine-readable images generated can include barcodes or Quick Response (QR) codes for easy authentication. Overall, the patent showcases an innovative approach to efficiently managing and providing insurance information based on specific requests and user data, enhancing the overall user experience and data security in the insurance industry.
To know more about GlobalData’s detailed insights on USAA, 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, 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.
