Graphical user interface for financial activity concerning tropical weather events

• US 7,584,134 B2
• Filed: 09/14/2007
• Issued: 09/01/2009
• 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.
• Primary Examiner(s): Borlinghaus; Jason M
• Application Number:
  US11/901,050
• Publication Number:
  US 20080059355A1
• Time in Patent Office: 718 Days
• Field of Search: 705/36
• US Class Current: 705/36.00R
• 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

Abstract

A graphical user interface for a financial activity network that 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 event and, optionally, one or more secondary parameters relating to the natural event, such as the time interval between the time of investment and the time of all event strike and/or the severity of the event strike according to an established scale. The graphical user interface provides the user with the ability to select options and view data from a screen display, with recalculations of data being displayed on an ongoing basis, reflecting the user'"'"'s current selections.

Claims

1. A computerized method of offering for purchase, positions predicting a future fast hurricane landstrike resulting from a substantially continuous ongoing natural process culminating in a future first hurricane landstrike, comprising:

providing a computer graphical user interface having first and second portions;

providing a database containing

     1) a map of geographical areas corresponding to the positions to be offered for purchase,

     2) strike probabilities of future first hurricane landstrikes in the geographical areas;

     3) offer prices for purchasing positions predicting future first hurricane landstrikes in respective geographical areas, that are electronically calculated, based at least in part on respective strike probabilities and

     4) returns on investment electronically calculated, based at least in part on respective strike probabilities, that the user can expect from the investment;

displaying the map in the first portion of the graphical user interface with user selectable portions corresponding to the geographical areas of the map; and

in response to a user selecting a user selectable portion and thereby indicating a geographical area for selection, displaying in the second portion of the graphical user interface, a summary of purchase—

related offer information for an indicated geographical area, including a strike probability of a future first hurricane landstrike in the indicated geographical area, an offer price for purchasing a position predicting the future first hurricane landstrike in the indicated geographical area; and

a return on investment that the user can expect on the investment.

2. The method according to claim 1, wherein the summary of purchase-related offer information is displayed in the form of one of said table and said pop-up window.

3. The method according to claim 1, further comprising, during the substantially continuous ongoing natural process, obtaining electronically updated data providing the basis for electronic calculations of strike probabilities of future first hurricane landstrikes in the geographical areas, electronically updating in substantially real time the strike probabilities of future first hurricane landstrikes in the geographical areas, along with the summary of purchase-related offer information that is calculated, based at least in part on at least one updated strike probability.

4. The method according to claim 1, further comprising a third portion of said graphical user interface for entry of order data to serve as the basis for committing to purchase at least one position, the data including a designation of at least one indicated geographical area and the offer price for purchasing at least one position predicting a future first hurricane landstrike in the at least one indicated geographical area.

5. The method according to claim 4, further comprising a fourth portion of said graphical user interface for confirming a commitment to purchase at least one position corresponding to the order data entered.

6. A system for offering purchase positions predicting a future first hurricane landstrike resulting from a substantially continuous ongoing natural process starting with a reported precursor tropical storm at sea and culminating in the future first hurricane landstrike, comprising:

a computer interface module for electronically providing a graphical user interface having first and second portions;

a database containing

     1) a map of geographical areas corresponding to the positions to be offered for purchase,

     2) electronically calculated strike probabilities of the future first hurricane landstrike in the geographical areas;

     3) offer prices for purchasing positions predicting the future first hurricane landstrike in respective geographical areas, electronically calculated at least in part, based on respective strike probabilities and

     4) returns on investment based at least in part on respective strike probabilities, that the user can expect on the investment;

the interface module communicating with the database to display the map in the first portion of the graphical user interface with user selectable portions corresponding to the geographical areas of the map; and

the interface module, in response to a user selecting a user selectable portion and thereby indicating a geographical area for selection, displaying in the second portion of the graphical user interface, a summary of purchase-related offer information for an indicated geographical area, including a strike probability of a future first hurricane landstrike in the indicated geographical area, an offer price for purchasing a position predicting the future first hurricane landstrike in the indicated geographical area; and

a return that the user can expect on the investment.

7. The system according to claim 6, wherein the summary of purchase-related offer information is displayed in the form of one of said table and said pop-up window.

8. The system according to claim 6, further comprising a communication port in communication with the database, obtaining updated data providing a basis for calculations of strike probabilities of a future first hurricane land strike in the geographical areas, and a computer component in communication with one of said database and said communication port, updating in substantially real time, the strike probabilities of a future first hurricane landstrike in the geographical areas, and the summary of purchase-related offer information that is based at least in part on the updated strike probabilities.

9. The system according to claim 6, wherein the graphical user interface further has a third portion for entry of order data including a designation of at least one indicated geographical area and the offer price for purchasing at least one position predicting a future first hurricane landstrike in the at least one indicated geographical area.

10. The system according to claim 6, wherein the graphical user interface further has a fourth portion for confirming a commitment to purchase a position corresponding to the order data entered.

11. An article of manufacture including a machine readable medium for causing a computer to perform a computerized method of offering for purchase, positions predicting a future first hurricane landstrike resulting from a substantially continuous ongoing natural process culminating in the future first hurricane landstrike, comprising:

providing a computer graphical user interface having first and second portions;

providing a database containing

     1) a map of geographical areas corresponding to the positions to be offered for purchase,

     2) strike probabilities of the future first hurricane landstrikes in the geographical areas;

     3) offer prices for purchasing positions predicting future first hurricane landstrikes in respective geographical areas, that are electronically calculated, based at least in part on respective strike probabilities and

     4) returns on investment electronically calculated, based at least in part on respective strike probabilities, that the user can expect from the investment;

displaying the map in the first portion of the graphical user interface with user selectable portions corresponding to the geographical areas of the map; and

in response to a user selecting a user selectable portion and thereby indicating a geographical area for selection, displaying in the second portion of the graphical user interface, s summary of purchase-related offer information for an indicated geographical area, including a strike probability of a future first hurricane landstrike in the indicated geographical area, an offer price for purchasing a position predicting the future first hurricane landstrike in the indicated geographical area; and

a return that the user can expect on the investment.