Patent ID: 8359259

Claim:
An automated data processing system comprising: a communication device; a processor coupled to the communication device; a storage device in communication with said processor, the storage device storing instructions adapted to be executed by said processor for: determining percentage shares to assign relative risk in a telematics based insurance pool between an insurer and one or more participating third party monitoring device providers, wherein the percentage shares for the one or more participating third party monitoring device providers are determined based at least in part on a percentage of monitoring devices deployed by at least one of the third party monitoring device providers; allocating portions of the insurance pool among the insurer and the one or more third party monitoring device providers according to the determined percentage shares assigned to the insurer and the one or more third party monitoring device providers; aggregating, by the insurer, telematics related loss information related to the monitoring devices deployed; transmitting, via said communication device, the telematics related loss information to the third party monitoring device providers; and allocating portions of a claim liability or a received premium associated with the insurance pool among the insurer and the one or more participating third party monitoring device providers according to the determined percentage shares assigned to the insurer and the one or more participating third party monitoring device providers; and a memory for storing the determined percentage shares assigned to the insurer and the one or more participating third party monitoring device providers.