Insurance patent

In the United States, however, recent court decisions have encouraged more inventors to file patent applications on methods of doing business.

These patents may be used to get more comprehensive coverage of improvements in basic insurance processes, such as the methods of calculating premiums, reserves, underwriting, etc.

The United Kingdom part of this European patent has been sold to Norwich Union insurance company.

[3] This changed dramatically again in 2014 after the Alice Corp. v. CLS Bank International decision by the Supreme Court of the United States, holding that an abstract idea does not become patentable just because it is implemented on a computer.

After Alice, the allowance rate for U.S. patent applications in the financial arts, including insurance, plummeted.

[7] In June 2010, however, the verdict against Transamerica was overturned on appeal [8] In June 2010, Progressive Auto Insurance filed a patent infringement lawsuit against Liberty Mutual over one of Progressive’s Pay As You Drive auto insurance patents.

This patent application describes a method for increasing the ease of changing insurance companies to get better rates.