Lytx’s patented system determines and ranks location-based risk using accident and event data. The processor groups incidents by proximity, estimates traffic, and ranks incident groups based on accidents, events, and traffic estimations. The system merges compatible incident groups and assigns scores based on accident and event data. GlobalData’s report on Lytx gives a 360-degree view of the company including its patenting strategy. Buy the report here.
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According to GlobalData’s company profile on Lytx, Usage monitoring vehicle telematics was a key innovation area identified from patents. Lytx's grant share as of March 2024 was 74%. Grant share is based on the ratio of number of grants to total number of patents.
System for ranking incident groups based on location proximity
The granted patent (Publication Number: US11928962B2) describes a system that includes an interface for receiving accident data or event data and a processor that determines incident groups based on location proximity, traffic estimations, and rankings. The processor merges compatible incident groups by identifying initial hotspots and similar overlapping hotspots along a road, determining incident group scores, and providing a display set of incident groups for visualization. The system utilizes accident data collected by government or non-governmental organizations, event data with metadata tags, and traffic estimations based on traffic count data.
Furthermore, the patent includes claims for a method and a computer program product for risk ranking. The method involves receiving accident data or event data, determining incident groups grouped by location proximity, traffic estimations, and rankings based on accidents or events. The computer program product, embodied in a non-transitory computer-readable storage medium, includes instructions for the same processes as the method. Both the method and the computer program product focus on merging compatible incident groups, determining incident group scores based on accident or event data, and traffic estimations to provide a comprehensive risk ranking system for analyzing and visualizing incidents. The system's innovative approach to incident grouping and ranking based on location proximity and traffic estimations sets it apart in the field of risk assessment and management.
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GlobalData Patent Analytics tracks bibliographic data, legal events data, point in time patent ownerships, and backward and forward citations from global patenting offices. Textual analysis and official patent classifications are used to group patents into key thematic areas and link them to specific companies across the world’s largest industries.
