Patents by Inventor Frederick F. Cripe

Frederick F. Cripe has filed for patents to protect the following inventions. This listing includes patent applications that are pending as well as patents that have already been granted by the United States Patent and Trademark Office (USPTO).

  • Usage-based insurance cost determination system and method
    Patent number: 10109013
    Abstract: A system and method for calculating and applying insurance costs. For vehicle insurance under one embodiment of the present invention, insurance costs are calculated on a per-mile basis in a nonlinear fashion, assigning different levels of risk based upon the distance driven by a customer. In one embodiment of the present invention, the first miles or kilometers driven by a customer are assigned a greater level of risk than later-driven miles or kilometers. The present invention provides an actuarial method that more closely conforms the cost of insurance for a particular vehicle to its annual mileage by creating a Rate Per Mile Factor (RMF), where the RMF is expressed as a function of annual mileage.
    Type: Grant
    Filed: July 24, 2014
    Date of Patent: October 23, 2018
    Assignee: Allstate Insurance Company
    Inventors: Frederick F. Cripe, Stephen Fiete
  • Usage-based insurance cost determination system and method
    Patent number: 8812330
    Abstract: A system and method for calculating and applying insurance costs. For vehicle insurance under one embodiment of the present invention, insurance costs are calculated on a per-mile basis in a nonlinear fashion, assigning different levels of risk based upon the distance driven by a customer. In one embodiment of the present invention, the first miles or kilometers driven by a customer are assigned a greater level of risk than later-driven miles or kilometers. The present invention provides an actuarial method that more closely conforms the cost of insurance for a particular vehicle to its annual mileage by creating a Rate Per Mile Factor (RMF), where the RMF is expressed as a function of annual mileage.
    Type: Grant
    Filed: September 11, 2012
    Date of Patent: August 19, 2014
    Assignee: Allstate Insurance Company
    Inventors: Frederick F. Cripe, Stephen Fiete
  • Usage-based insurance cost determination system and method
    Patent number: 8280752
    Abstract: A system and method for calculating and applying insurance costs. For vehicle insurance under one embodiment of the present invention, insurance costs are calculated on a per-mile basis in a nonlinear fashion, assigning different levels of risk based upon the distance driven by a customer. In one embodiment of the present invention, the first miles or kilometers driven by a customer are assigned a greater level of risk than later-driven miles or kilometers. The present invention provides an actuarial method that more closely conforms the cost of insurance for a particular vehicle to its annual mileage by creating a Rate Per Mile Factor (RMF), where the RMF is expressed as a function of annual mileage.
    Type: Grant
    Filed: April 4, 2011
    Date of Patent: October 2, 2012
    Assignee: Allstate Insurance Company
    Inventors: Frederick F. Cripe, Stephen Fiete
  • Usage-based insurance cost determination system and method
    Patent number: 7937278
    Abstract: A system and method for calculating and applying insurance costs. For vehicle insurance under one embodiment of the present invention, insurance costs are calculated on a per-mile basis in a nonlinear fashion, assigning different levels of risk based upon the distance driven by a customer. In one embodiment of the present invention, the first miles or kilometers driven by a customer are assigned a greater level of risk than later-driven miles or kilometers. The present invention provides an actuarial method that more closely conforms the cost of insurance for a particular vehicle to its annual mileage by creating a Rate Per Mile Factor (RMF), where the RMF is expressed as a function of annual mileage.
    Type: Grant
    Filed: January 6, 2006
    Date of Patent: May 3, 2011
    Assignee: Allstate Insurance Company
    Inventors: Frederick F. Cripe, Stephen Fiete