US Patent Issued to STATE FARM MUTUAL AUTOMOBILE INSURANCE on Aug. 19 for "Systems and methods for processing trip-based insurance policies" (Illinois, Oregon Inventors)

ALEXANDRIA, Va., Aug. 20 -- United States Patent no. 12,393,988, issued on Aug. 19, was assigned to STATE FARM MUTUAL AUTOMOBILE INSURANCE COMPANY (Bloomington, Ill.).

"Systems and methods for processing trip-based insurance policies" was invented by Gregory Hayward (Bloomington, Ill.) and Scott T. Christensen (Salem, Ore.).

According to the abstract* released by the U.S. Patent & Trademark Office: "Methods and systems for processing trip-based insurance policies for vehicles. According to aspects, a trip-based insurance policy of a vehicle specifies an amount of trip units for insured vehicle travel and has an associated policy term. In certain cases, a customer may exhaust trip units before an expiration of the policy term. The methods ...