Insurance vertical market specialization

Abstract

Vertical insurance market specialization is provided where policies can be created based on granular information related to actual usage of an object. The information can be received in real time or near real time, and specific market definitions can be created based on the information. Insurance companies can bid on specific market definitions, and an owner of the object can select coverage. In cases of automobile insurance, route information or other sensed parameters (such as driving behavior) can be provided to define an insurance market for a specific driver. Allowing companies to bid on the specific instances allows for increased competition and lower cost than current blanket solutions.

1 . A system that collects data regarding automobile usage for receiving insurance quotes related to the automobile, comprising:
 a policy specification component that obtains one or more parameters related to a route of an automobile and provides the one or more parameters to a market definition component;   a rate receiving component that receives rate and policy information from the market definition component based at least in part on the one or more parameters; and   a user interface component that renders the rate and policy information.   
     
     
         2 . The system of  claim 1 , further comprising a driving behavior component that sends one or more parameters related to driving behavior to the policy specification component for providing to the market definition component. 
     
     
         3 . The system of  claim 2 , the driving behavior component generates the parameters based at least in part on measuring mechanical aspects of the automobile when occupied. 
     
     
         4 . The system of  claim 1 , the one or more parameters related to a route correspond to a planned route specified using the user interface component. 
     
     
         5 . The system of  claim 1 , further comprising an automobile environment sensing component that determines an audible noise level in the automobile and sends the audible noise level to the policy specification component for providing to the market definition component. 
     
     
         6 . The system of  claim 1 , further comprising an advertisement display component that receives an advertisement from the market definition component and renders the advertisement on the user interface component. 
     
     
         7 . The system of  claim 6 , the rate receiving component receives rate discounts based at least in part on rendering the advertisement on the user interface component. 
     
     
         8 . The system of  claim 1 , the user interface component renders the rate and policy information allowing selection thereof. 
     
     
         9 . The system of  claim 8 , further comprising a rate selection component that receives selection of a policy based at least in part on the rate and policy information. 
     
     
         10 . A method that facilitates providing sensed information regarding use of an object for vertical insurance market specialization, comprising:
 employing a processor to execute computer executable instructions stored in memory to perform the following acts:
 automatically sensing one or more usage parameters of an object; 
 providing the one or more usage parameters to a market definition component along with one or more additional parameters regarding a user to whom the one or more usage parameters relate; and 
 receiving one or more insurance policies and corresponding rates from the market definition component based on the usage and additional parameters. 
   
     
     
         11 . The method of  claim 10 , the object is an automobile and the one or more usage parameters relate to one or more driving behavior measurements. 
     
     
         12 . The method of  claim 11 , further comprising measuring braking behavior of a driver where the one or more driving behavior measurements relates to the braking behavior. 
     
     
         13 . The method of  claim 10 , the object is an automobile and the one or more usage parameters relate to one or more service needs of the automobile. 
     
     
         14 . The method of  claim 10 , further comprising providing planned route information to the market definition component where the one or more insurance policies and corresponding rates are further based on the planned route information. 
     
     
         15 . The method of  claim 10 , further comprising measuring interior audible noise of an automobile where the object is the automobile and the one or more usage parameters relates to the interior audible noise. 
     
     
         16 . The method of  claim 10 , further comprising receiving an advertisement associated with the one or more usage parameters or the one or more additional parameters. 
     
     
         17 . The method of  claim 16 , the corresponding rates are discounted based at least in part on the received advertisement. 
     
     
         18 . A system that receives insurance policies related to an automobile, comprising:
 means for that receiving one or more parameters related to a route of an automobile and providing the one or more parameters to a market definition component;   means for obtaining rate and policy information based at least in part on the one or more parameters; and   means for rendering the rate and policy information.   
     
     
         19 . The system of  claim 18 , further comprising means for measuring one or more parameters related to driving behavior, the means for receiving one or more parameters provides the one or more parameters related to driving behavior to the market definition component. 
     
     
         20 . The system of  claim 18 , the one or more parameters related to a route correspond to a planned route indicated using the means for rendering.