Carfax To Receive Patents To Help Insurance Industry

Vehicle History Attributes to Improve Underwriting and Ratings

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Jul 20, 2012, 11:59 ET

CENTREVILLE, Va., July 20, 2012 /PRNewswire/ -- Carfax, Inc. is pleased to announce that the United States Patent and Trademark Office (USPTO) has published a Notice of Allowance for U.S. Patent Application Serial Number 13/181,736 titled "System and Method for Insurance Underwriting and Rating" and for U.S. Patent Application Serial Number 13/181,739 also titled "System and Method for Insurance Underwriting and Rating". A Notice of Allowance is issued after the USPTO makes a determination that a patent can be granted from an application. The issued patents would cover a system and method in which insurance underwriting and rating are based on vehicle history attributes.

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"The issuance of these Notices of Allowance to Carfax cements our position as the leader in development of vehicle history based products and services," stated David Lackey, General Manager of Carfax Banking & Insurance Group. "These patent applications are part of our ongoing efforts to provide cutting edge services to the insurance industry."

The Carfax® Vehicle History Report™ is the industry standard, delivering more insight into a vehicle's history than any other source. Hundreds of insurance companies rely on Carfax as an integral part of their underwriting and rating, claims prioritization, total loss valuations, and SIU investigations.

About Carfax (www.carfax.com)

Carfax has built the most comprehensive vehicle history database ever assembled with over 10 billion records covering virtually all cars, light trucks, and SUVs manufactured in the U.S. since 1981. We provide vehicle data from more than 34,000 data sources, including all state DMVs and many police departments, service facilities, and collision centers. In addition, all vehicle data undergoes rigorous quality assurance testing to improve its accuracy and eliminate duplicate or irrelevant records. We also run the data through hundreds of business rules to identify unique Carfax Alerts and Advisories relating to odometer rollbacks, VIN cloning, and other potential problems. Contact us at 800-789-6232 or visit our website at www.carfaxbig.com to learn more about specific applications for your business and to take advantage of our discounted corporate rates.

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SOURCE Carfax