Importance

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Abstract

The present invention is directed to a business method in the field of automobile insurance, more specifically, a system and method of determining an objective driver score that may be used universally by independent insurers to evaluate the risk of insuring a driver by employing certain risk assessment factors concerning the driver's personal history which are each analyzed to derive weighted scores. Each driver is provided with a portable pin with an electronic key unique to the driver that is encoded for selective activation of a monitoring unit in a vehicle such that solely the activities of the driver being assessed is recorded and communicated to an evaluation center. Once activated, the monitoring unit records and generates the driver's risk assessment record based on the driver's operation of a vehicle equipped with the monitoring unit, as well as other variable parameters concerning operation of the vehicle. Said driver's risk assessment record is analyzed to derive a weighted driver risk assessment score that is aggregated with the individual weighted scores derived from the risk assessment factors to generate an objective driver score.

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First Claim