Nationwide Mutual Insurance. has been granted a patent for a system that collects and evaluates vehicle operation data. The system segments vehicle trajectory data, correlates it with event data, and analyzes these correlations to determine causal relationships, ultimately assessing driver behavior and generating a correlation rate. GlobalData’s report on Nationwide Mutual Insurance 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 Nationwide Mutual Insurance, Digital lending was a key innovation area identified from patents. Nationwide Mutual Insurance's grant share as of July 2024 was 88%. Grant share is based on the ratio of number of grants to total number of patents.
Vehicle data collection and driver behavior evaluation system
The granted patent US12067812B1 outlines a system and method for collecting and evaluating data related to vehicle operation. Central to this innovation is a device attached to a vehicle that gathers trajectory data. This data is processed by one or more servers, which segment the trajectory into distinct parts based on transitions identified by cutting indices. The system retrieves relevant event data, including time and location, from databases to correlate with the segmented trajectory data. This correlation allows for the generation of driving condition correlations and causal relationships that reflect driver behavior during specific events. Additionally, a correlation rate is computed to indicate overall driver behavior associated with the vehicle.
Further enhancements to the system include the ability to compare the calculated correlation rate against a reference population of driver behaviors, facilitating the generation of a risk value associated with the driver's overall behavior. The segmentation of trajectory data also ensures that each segment reflects homogeneous driver behavior, while differences between segments indicate varying driving patterns. The method also encompasses the generation of underwriting data for the vehicle or driver based on the established associations, thereby providing a comprehensive framework for evaluating driver behavior and associated risks.
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