20240037668. EVIDENCE ORACLES simplified abstract (STATE FARM MUTUAL AUTOMOBILE INSURANCE COMPANY)

EVIDENCE ORACLES

Organization Name

STATE FARM MUTUAL AUTOMOBILE INSURANCE COMPANY

Inventor(s)

William J. Leise of Normal IL (US)

Douglas A. Graff of Mountain View MO (US)

Anthony Mccoy of Normal IL (US)

Jaime Skaggs of Chenoa IL (US)

Shawn M. Call of Bloomington IL (US)

Stacie A. Mccullough of Bloomington IL (US)

Wendy H. Clayton of Franklin TN (US)

Melinda Teresa Magerkurth of Utica IL (US)

Kim E. Flesher of Normal IL (US)

Travis Charles Runge of Heyworth IL (US)

EVIDENCE ORACLES - A simplified explanation of the abstract

This abstract first appeared for US patent application 20240037668 titled 'EVIDENCE ORACLES

Simplified Explanation

The patent application describes a system and method for using a blockchain to manage the subrogation claim process related to a vehicle collision. The system utilizes evidence oracles as part of the subrogation process.

• The system receives recorded data from connected devices at a specific location.
• The recorded data is analyzed to determine if a collision involving one or more vehicles has occurred.
• Based on the analysis, a transaction is generated that includes data indicative of the collision.
• The transaction is then transmitted to at least one other participant in the distributed ledger network.

Potential applications of this technology:

• Streamlining the subrogation claim process for vehicle collisions.
• Improving the accuracy and efficiency of determining fault in collisions.
• Enhancing transparency and trust in the subrogation process.

Problems solved by this technology:

• Reducing the time and effort required to process subrogation claims.
• Minimizing disputes and disagreements over fault in vehicle collisions.
• Increasing the reliability and accuracy of evidence used in the subrogation process.

Benefits of this technology:

• Faster resolution of subrogation claims, leading to quicker reimbursement for parties involved.
• Improved accuracy in determining fault, resulting in fairer outcomes.
• Enhanced transparency and trust in the subrogation process, reducing disputes and improving overall efficiency.

Original Abstract Submitted

systems and methods are disclosed with respect to using a blockchain for managing the subrogation claim process related to a vehicle collision, in particular, utilizing evidence oracles as part of the subrogation process. an exemplary embodiment includes receiving recorded data from one or more connected devices at a geographic location; analyzing the recorded data, wherein analyzing the recorded data includes determining that an collision has occurred involving one or more vehicles; generating a transaction including the data indicative of the collision based upon the analysis; and transmitting the transaction to at least one other participant in the distributed ledger network.