Patent ID: 11861566
Assignee: STATE FARM MUTUAL AUTOMOBILE INSURANCE COMPANY
Field: IT methods for management (Electrical engineering)
Classification: CPC G | IPC G

Claim 1:
2. The computer system of claim 1, wherein the processor is further configured to perform operations comprising (a) determining, based upon the telematics data, the replacement cycle associated with each selected vehicle component and a replacement cost associated with each selected vehicle component, and (b) determining the replacement cost by querying the maintenance data source, and wherein determining the replacement cycle and the replacement cost further comprises:
retrieving industry data associated with the telematics data, the industry data including vehicle labor rates associated with replacement of each selected vehicle component;
analyzing the telematics data and the vehicle labor rates associated with the replacement of each selected vehicle component to determine the replacement cost; and
determining, based upon the replacement cost, the total cost of trips.