State Farm Mutual Automobile Insurance had eight patents in big data during Q2 2024. State Farm Mutual Automobile Insurance Co has filed patents for systems and methods related to vehicle maintenance models using telematics data, as well as for identifying conditions in a home environment through sensor data analysis. The vehicle telematics analytics device can determine if a vehicle’s operation is better or worse than standard, adjust maintenance costs, and provide rewards to users. The home environment sensors capture data on electricity use to identify abnormalities and anomalies, allowing for the detection of conditions associated with individuals in the home, with notifications sent to caregivers. GlobalData’s report on State Farm Mutual Automobile Insurance gives a 360-degree view of the company including its patenting strategy. Buy the report here.
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State Farm Mutual Automobile Insurance had no grants in big data as a theme in Q2 2024.
Recent Patents
Application: Vehicle telematics systems and methods (Patent ID: US20240177121A1)
State Farm Mutual Automobile Insurance Co. has filed a patent for methods and systems that involve generating and applying vehicle maintenance models to vehicle telematics data. The Vehicle Telematics Analytics (VTA) computing device receives telematics data related to a subject vehicle's operation and compares it to a maintenance model to determine if the vehicle's operation is better or worse than standard. Based on this determination, the VTA device can adjust maintenance costs and assess user eligibility for rewards. Additionally, the device can provide users with itemized reports detailing adjusted maintenance costs, rewards, and other vehicle-related expenses.
The patent claims outline the functionalities of the VTA computing device, including generating a maintenance and charging model, training the model using reference telematics data, receiving and analyzing vehicle telematics data, adjusting maintenance costs based on operational performance, and providing itemized reports to users. The device can also incorporate data from various sensors, query geofencing databases for location information, and update the maintenance model with additional telematics data. Overall, the patent aims to leverage vehicle telematics data to evaluate and optimize the operation of vehicles, leading to reduced maintenance costs and potential rewards for users based on their driving behavior.
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