Researchers Submit Patent Application, “Blockchain Controlled Multi-Carrier Auction System For Usage-Based Auto Insurance”, for Approval (USPTO 20230008881): Patent Application – InsuranceNewsNet

There is additional summary information. Please visit full patent to read further.”

The claims supplied by the inventors are:

“1. A vehicle computer device associated with a vehicle, the vehicle computer device comprising: at least one memory device; and at least one processor is configured to: generate a trip request based upon trip information received from a user of the vehicle computer device; transmit the trip request to an auction computer network including a plurality of computer devices associated with a plurality of insurers; receive, from the auction computer network, a plurality of bids in response to the trip request, each bid associated with an insurer of the plurality of insurers and including information requested in the trip request; transmit an approval of a bid of the plurality of bids to at least one of the plurality of computer devices of the insurer associated with the bid; receive, from a user based auto insurance management (UBAIM) server associated with the auction computer network, a smart contract associated with the bid; store the smart contract in a first block in a blockchain structure accessible to the vehicle computer device; and create a new block in the blockchain structure based upon updated information received from the UBAIM server and associated with the smart contract.

“2. The vehicle computer device of claim 1, wherein the blockchain structure includes a plurality of nodes configured to store copies of the smart contract in the blockchain structure.

“3. The vehicle computer device of claim 1, wherein the at least one processor is further configured to: display an indication of a discount associated with the smart contract to the user including an acknowledgement request; and transmit an acknowledgement to the UBAIM server.

“4. The vehicle computer device of claim 3, wherein the at least one processor is further configured to generate another new block in the blockchain structure for storing the acknowledgement in response to the acknowledgement being received.

“5. The vehicle computer device of claim 3, wherein the at least one processor is further configured to generate another new block in the blockchain structure for storing the indication of the discount and the acknowledgement.

“6. The vehicle computer device of claim 1, wherein the at least one processor is further configured to transmit sensor information associated with the trip, wherein the sensor information is collected by one or more sensors associated with the vehicle, and wherein the sensor information includes data related to operation of the vehicle during the trip.

“7. The vehicle computer device of claim 6, wherein the at least one processor is further configured to generate another new block of the blockchain structure for the sensor information on a periodic basis.

“8. A computer-implemented method using a vehicle computer device associated with a vehicle and including at least one memory device and at least one processor, the method comprising: generating a trip request based upon trip information received from a user of the vehicle computer device; transmitting the trip request to an auction computer network including a plurality of computer devices associated with a plurality of insurers; receiving, from the auction computer network, a plurality of bids in response to the trip request, each bid associated with an insurer of the plurality of insurers and including information requested in the trip request; transmitting an approval of a bid of the plurality of bids to at least one of the plurality of computer devices of the insurer associated with the bid; receiving, from a user based auto insurance management (UBAIM) server associated with the auction computer network, a smart contract associated with the bid; storing the smart contract in a first block in a blockchain structure accessible to the vehicle computer device; and creating a new block in the blockchain structure based upon updated information received from the UBAIM server and associated with the smart contract.

“9. The computer-implemented method of claim 8, wherein the blockchain structure includes a plurality of nodes configured to store copies of the smart contract in the blockchain structure.

“10. The computer-implemented method of claim 8 further comprising: displaying an indication of a discount associated with the smart contract to the user including an acknowledgement request; and transmitting an acknowledgement to the UBAIM server.

“11. The computer-implemented method of claim 10 further comprising generating another new block in the blockchain structure for storing the acknowledgement in response to the acknowledgement being received.

“12. The computer-implemented method of claim 10 further comprising generating another new block in the blockchain structure for storing the indication of the discount and the acknowledgement.

“13. The computer-implemented method of claim 8 further comprising transmitting sensor information associated with the trip, wherein the sensor information is collected by one or more sensors associated with the vehicle, and wherein the sensor information includes data related to operation of the vehicle during the trip.

“14. The computer-implemented method of claim 13 further comprising generating another new block of the blockchain structure for the sensor information on a periodic basis.

“15. At least one non-transitory computer-readable storage medium having computer-executable instructions embodied thereon, wherein when executed by at least one processor of a vehicle computer device including at least one memory device and associated with a vehicle, the computer-executable instructions cause the at least one processor to: generate a trip request based upon trip information received from a user of the vehicle computer device; transmit the trip request to an auction computer network including a plurality of computer devices associated with a plurality of insurers; receive, from the auction computer network, a plurality of bids in response to the trip request, each bid associated with an insurer of the plurality of insurers and including information requested in the trip request; transmit an approval of a bid of the plurality of bids to at least one of the plurality of computer devices of the insurer associated with the bid; receive, from a user based auto insurance management (UBAIM) server associated with the auction computer network, a smart contract associated with the bid; store the smart contract in a first block in a blockchain structure accessible to the vehicle computer device; and create a new block in the blockchain structure based upon updated information received from the UBAIM server and associated with the smart contract.

“16. The computer-readable storage medium of claim 15, wherein the blockchain structure includes a plurality of nodes configured to store copies of the smart contract in the blockchain structure.

“17. The computer-readable storage medium of claim 15, wherein the computer-executable instructions further cause the at least one processor to: display an indication of a discount associated with the smart contract to the user including an acknowledgement request; and transmit an acknowledgement to the UBAIM server.

“18. The computer-readable storage medium of claim 17, wherein the computer-executable instructions further cause the at least one processor to generate another new block in the blockchain structure for storing the acknowledgement in response to the acknowledgement being received.

“19. The computer-readable storage medium of claim 17, wherein the computer-executable instructions further cause the at least one processor to generate another new block in the blockchain structure for storing the indication of the discount and the acknowledgement.

“20. The computer-readable storage medium of claim 15, wherein the computer-executable instructions further cause the at least one processor to transmit sensor information associated with the trip, wherein the sensor information is collected by one or more sensors associated with the vehicle, and wherein the sensor information includes data related to operation of the vehicle during the trip.”

For additional information on this patent application, see: Floyd, Matthew L. Blockchain Controlled Multi-Carrier Auction System For Usage-Based Auto Insurance. U.S. Patent Application Number 20230008881, filed September 14, 2022 and posted January 12, 2023. Patent URL (for desktop use only): https://ppubs.uspto.gov/pubwebapp/external.html?q=(20230008881)&db=US-PGPUB&type=ids

(Our reports deliver fact-based news of research and discoveries from around the world.)