Progressive Receives Fourth Patent Related to Usage-Based Insurance

January 10, 2012

Progressive Insurance has received a fourth patent for system technologies used with its optional Pay As You Drive insurance program, a usage-based form of car insurance.

U.S. Patent No. 8,090,598 relates, in part, to producing a driver safety score based on monitored driving data.

The company’s usage-based insurance (UBI) program, Snapshot, is available in 39 states and the District of Columbia. It creates a personalized car insurance discount based on customers’ driving habits. Drivers who sign up for Snapshot receive a small device that plugs into the on-board diagnostic port of cars. The device records data from the vehicle and sends it to Progressive, which uses that data to calculate potential discounts.

Over the past few years that car insurance group has tested and refined its UBI program, nearly half a million drivers have participated.

In addition to its patents for usage-based insurance, Progressive also holds a patent for its methods of processing vehicle damage claims and two patents for computer technology related to its online policy servicing capabilities.

Source: Progressive Insurance

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