Financial activity with graphical user interface based on natural peril events

• US 20080133429A1
• Filed: 10/31/2007
• Published: 06/05/2008
• Est. Priority Date: 12/21/2004
• Status: Active Grant

• Current Assignee: Weather RISK Solutions LLC
• Original Assignee: Weather RISK Solutions LLC
• Inventors: Horowitz, Kenneth A.
• Granted Patent: US 7,783,542 B2
• Time in Patent Office: Days
• US Class Current: 705/36R
• CPC Class Codes: G06Q 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes
• CPC Class Codes: G06Q 40/06 Asset management; Financial planning or analysis
• CPC Class Codes: G06Q 50/34 Betting or bookmaking, e.g. Internet betting
• CPC Class Codes: G07F 17/3255 Incentive, loyalty and/or promotion schemes, e.g. comps, gaming associated with a purchase, gaming funded by advertisements

Abstract

A financial activity network includes a central managing system connected to a plurality of participant terminals. Rules governing operation of the financial activity are stored for future reference. A participant provides investment information such as a map location for the predicted strike by the natural peril event and, optionally, one or more secondary parameters relating to the natural peril event, such as the time interval between the time of investment and the time of an event strike and/or the severity of the event strike according to an established scale. In one example, an external objective independent information source is consulted, with the external objective independent information source providing monitoring, interpretation and derived determination of parameters pertaining to the natural peril event. Methods and articles of manufacture are also disclosed.

Claims

1. A system for conducting a financial activity based on a tropical weather event, comprising:

a financial activity module for facilitating financial activity between a provider and at least two participants utilizing a graphical user interface, for receiving tropical weather event information from an external independent information source of such information and for providing financial activity information to the participants utilizing the graphical user interface, including information relating to the tropical weather event information and a plurality of geographic regions in which the financial activity is to occur and in which a future tropical weather event may occur, the regions presented as a map displayed by the graphical user interface, and

at least one communication module for communication between the financial activity module and an external independent information source for receiving the tropical weather event information from at least one external independent information source, and for providing index information utilizing the graphical user interface, the index information including an index having an index value varying in response to one or more tropical weather events, and for presenting to the participants at least one derivative product to be traded between the participants with respect to a plurality of geographic regions, the derivative product having a value that varies in response to the index value, and settled based on at least one of the tropical weather event information and the index information.

2. The system according to claim 1 wherein the graphical user interface includes an ongoing display of index values for each region.

3. The system according to claim 1 wherein the graphical user interface includes active elements for each region to accept input data from a participant.

4. The method according to claim 1 wherein the derivative product comprises one of a futures contract, an options contract or an option on futures contract.

5. The system according to claim 1 wherein the communication module presents a null region, available for trading, designating no tropical weather event in any of the plurality of geographic regions.

6. The system according to claim 1 further comprising a distribution module for distributing funds to at least one of the participants, based on settlement of the derivative product.

7. The system according to claim 1 wherein the financial activity module provides index values for each of the geographic regions.

8. The system according to claim 1 wherein the at least one communication module receives index information from a provider of such information.

9. A system for conducting a financial activity based on a tropical weather event, utilizing a graphical user interface, comprising:

a financial activity module for facilitating financial activity between a provider and at least two participants utilizing a graphical user interface, for receiving tropical weather event information from an external independent information source of such information and for providing financial activity information to the participants utilizing the graphical user interface, including information relating to the tropical weather event information and a plurality of geographic regions in which the financial activity is to occur and in which a future tropical weather event may occur, the regions presented as a map displayed by the graphical user interface;

the financial activity module providing at least one derivative product to be traded between the participants, for a plurality of geographic regions, the derivative product having a value that varies in response to the index value, and settled based on at least one of the tropical weather event information and the index information;

the financial activity module further providing index information including an index having an index value varying in response to one or more tropical weather events; and

at least one communication module for communication between the financial activity module and an external independent information source for receiving the tropical weather event information and for making available to the participants, the tropical weather event information and the index information.

10. The system according to claim 9 wherein the graphical user interface includes an ongoing display of index values for each region.

11. The system according to claim 9 wherein the graphical user interface includes active elements for each region to accept input data from a participant.

12. The system according to claim 9 wherein the communication module presents a null region, available for trading, designating no tropical weather event in any of the plurality of geographic regions.

13. The system according to claim 9 wherein the financial activity module provides index values for each of the geographic regions.

14. The method according to claim 9 wherein the derivative product comprises one of a futures contract, an options contract or an option on futures contract.

15. A system for conducting a financial activity based on a natural peril event, utilizing a graphical user interface, comprising:

a financial activity module for facilitating financial activity between a provider and at least two participants utilizing a graphical user interface, for receiving natural peril event information from an external independent information source of such information and for providing financial activity information to the participants utilizing the graphical user interface, including information relating to the natural peril event information and a plurality of geographic regions in which the financial activity is to occur and in which a future natural peril event may occur, the regions displayed as a map displayed by the graphical user interface;

at least one communication module for communication between the financial activity module and an external independent information source for receiving the natural peril event information from at least one external independent information source;

the financial activity module providing index information utilizing the graphical user interface, the index information including an index having an index value varying in response to one or more natural peril events;

the financial activity module presenting to the participants at least one derivative product to be traded between the participants, for a plurality of geographic regions, the derivative product having a value that varies in response to the index and which is settled based on at least one of the natural peril event information and the index information.

16. The system according to claim 15 wherein the graphical user interface includes an ongoing display of index values for each region.

17. The system according to claim 15 wherein the graphical user interface includes active elements for each region to accept input data from a participant.

18. A method of conducting a financial activity between a provider and a plurality of participants, based on a tropical weather event, utilizing a graphical user interface, comprising:

the provider receiving ongoing tropical weather event information from an external independent information source of such information;

the provider providing financial activity information to the participants, utilizing the graphical user interface, including information relating to the tropical weather event information and a plurality of geographic regions in which the financial activity is to occur and in which a future tropical weather event may occur, the regions presented as a map displayed by the graphical user interface;

the provider offering to the participants, using the graphical user interface, first prediction data that changes over time, concerning a predicted outcome of the tropical weather event;

the provider-receiving the participants'"'"' prediction data of a predicted outcome of the tropical weather event, using the graphical user interface;

the provider receiving the outcome of the tropical weather event from an external independent information source of such information;

the provider or a third party comparing the participants'"'"' prediction data to the external information to determine if the participant qualifies for successfully predicting the outcome of the tropical weather event; and

making the comparing determination available to the participants.

19. The method according to claim 18 wherein the step of presenting to the participants a plurality of geographic regions for which the financial activity is to occur includes the step of presenting a null region, available for trading, designating no tropical weather event in any of the plurality of geographic regions.

20. The method according to claim 18 further comprising the step of distributing funds to at least one of the participants, based at least in part on the comparing determination.

21. The method according to claim 20 further comprising the step of distributing a predetermined minimum, amount of funds to participants qualified to receive funds.

22. A method of conducting a financial activity between a provider and a plurality of participants, based on a natural peril event, utilizing a graphical user interface, comprising:

the provider receiving ongoing natural peril event information from an external independent information source of such information;

the provider providing financial activity information to the participants, utilizing the graphical user interface, including information relating to the natural peril event information and a plurality of geographic regions in which the financial activity is to occur and in which a future natural peril event may occur, the regions presented as a map displayed by the graphical user interface;

the provider offering to the participants, using the graphical user interface, first prediction data that changes over time, concerning a predicted outcome of the natural peril event;

the provider receiving the participants'"'"' prediction data of a predicted outcome of the natural peril event, using the graphical user interface;

the provider receiving the outcome of the natural peril event from an external independent information source of such information;

the provider or a third party comparing the participants'"'"' prediction data to the external information to determine if the participant qualifies for successfully predicting the outcome of the natural peril event; and

making the comparing determination available to the participants.

23. The method according to claim 22 wherein the step of presenting to the participants a plurality of geographic regions for which the financial activity is to occur includes the step of presenting a null region, available for trading, designating no natural peril event in any of the plurality of geographic regions.

24. The method according to claim 22 further comprising the step of distributing funds to at least one of the participants, based at least in part on the comparing determination.

25. The method according to claim 24 further comprising the step of distributing a predetermined minimum, amount of funds to participants qualified to receive funds.