Method and Apparatus for Behavior Based Insurance

摘要

Methods, financial systems, and devices of administering insurance policies with premiums based on user behavior monitored by a communication device are provided.

主权项

1. A computer system for processing data related to an insurance policy, comprising:
a personal communication device for sensing and recording data related to selected characteristics indicative of an individual's behavior; and a processor in communication with the personal communication device the processor configured to:
communicate with the personal communication device to download said data related to selected characteristics,for each characteristic, determine an appropriate actuarial class selected from at least one predetermined actuarial class,determine a composite insurance score as a function of the at least one actuarial class, andapply an insurance rating factor based on the composite insurance score to determine an insurance premium.