Data processing: financial – business practice – management – or co – Automated electrical financial or business practice or... – Insurance
Reexamination Certificate
2008-03-11
2008-03-11
Thomas, Joseph (Department: 3626)
Data processing: financial, business practice, management, or co
Automated electrical financial or business practice or...
Insurance
C701S035000
Reexamination Certificate
active
07343306
ABSTRACT:
An apparatus, program product and method track the location of a vehicle during at least a portion of a period of the time associated with an economic transaction so that risks associated with the actual usage of the vehicle can be accommodated in the costs for the transaction. In particular, a determination is made during a time period associated with an economic transaction as to whether the vehicle is located at a location having an increased level of risk. Costs for the economic transaction are then adjusted based at least in part on the presence of the vehicle in a location with an increased level of risk. In one exemplary environment, car rental rates are adjusted based upon the actual usage of a rented vehicle. In another exemplary environment, insurance premiums are adjusted based upon the actual usage of an insured vehicle. In either event, usage that results in a vehicle being located in areas of comparatively higher risk can be accounted for in additional transactional costs, resulting in improved allocation of risk and minimization of economic inefficiencies.
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Bates Cary Lee
Jones Steven Paul
Nelson Eric John
Santosuosso John Matthew
Frenel Vanel
International Business Machines - Corporation
Thomas Joseph
Wood Herron & Evans
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