Notably, the variety of web of things-related patent functions within the insurance coverage business was 66 in Q3 2023, versus 67 within the prior quarter.
The highest 5 firms accounted for 45% of patenting exercise
Evaluation of patenting exercise by firms reveals that State Farm Mutual Vehicle Insurance coverage filed essentially the most web of issues patents inside the insurance coverage business in Q3 2023. The corporate filed 14 web of things-related patents within the quarter, in contrast with 14 within the earlier quarter. It was adopted by Allstate with 8 web of issues patent filings, UnitedHealth Group (3 filings), and Mitsubishi Electrical (3 filings) in Q3 2023.
Patenting exercise was pushed by the US with an 89% share of complete patent filings
The biggest share of web of issues associated patent filings within the insurance coverage business in Q3 2023 was within the US with 89%, adopted by China (3%) and Canada (2%). The share represented by the US was 16% greater than the 73% share it accounted for in Q2 2023.
For additional understanding of GlobalData’s Insurance coverage: Patents Traits Q3 2023, purchase the databook right here.
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GlobalData, the main supplier of business intelligence, supplied the underlying information, analysis, and evaluation used to supply this text.
GlobalData’s Patent Analytics tracks patent filings and grants from official workplaces all over the world. Textual evaluation and official patent classifications are used to group patents into key thematic areas and hyperlink them to particular firms the world over’s largest industries.
