SYSTEM AND METHOD FOR EXPECTATION BASED PROCESSING
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United States of America Patent
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N/A
Issued Date -
Jul 2, 2015
app pub date -
Dec 31, 2013
filing date -
Dec 31, 2013
priority date (Note) -
Abandoned
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Abstract
A system for determining insurance pricing information based on telematics data, the system comprising, a processor configured to generate a driver proxy score (DPS) based on a combination of rating variables in a conventional class plan; the processor, configured to receive information associated with telematics data received from a telematics device, wherein the telematics data includes a plurality of risk factors; the processor further configured to determine a driver telematics score (DTS) based on the information associated with the telematics data; the processor further configured to generate an expectation based rating, based on the DPS and the DTS, which measures a variance of the telematics data from the expected value; the processor further configured to update pricing information based on the determined expectation based rating; and a transmitter configured to transmit the updated pricing information to a user device.
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