Patent ID: 8768734

Claim:
A system for pricing an insurance premium based on vehicle trip similarities, the system comprising: a computer memory for storing data indicative of telematics data received from a sensor within a vehicle, the telematics data being associated with a plurality of trips and comprising at least one of geo-position information of the vehicle and vehicle kinematics data; and a processor in communication with the memory, wherein the processor is configured for: retrieving information related to an automobile insurance policy; retrieving at least a portion of the stored telematics data from the computer memory; computing a similarities score for routes traversed in the plurality of trips based on similarity of location data points along the routes traversed, determined from the retrieved telematics data; storing the computed similarities score; calculating a price adjustment for the insurance premium for the automobile insurance policy based on the retrieved information related to the policy and the similarities score; applying the price adjustment to the insurance premium; and outputting the adjusted price for the insurance premium for the automobile insurance policy.