Graphical user interface for financial activity concerning tropical weather events

• US 7,917,420 B2
• Filed: 07/31/2009
• Issued: 03/29/2011
• 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:
  US12/462,289
• Publication Number:
  US 20100042552A1
• Time in Patent Office: 606 Days
• Field of Search: None
• 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 first 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 for the geographical areas, based upon a scale of values indicating a measurement of the risk of property damage arising from future first hurricane landstrikes; and

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

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

during the substantially continuous ongoing natural process, electronically obtaining updated data providing the basis for electronic calculations of strike probabilities of a future first hurricane landstrike for the geographical areas; 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, an offer price, electronically updated in substantially real time so as to be based at least in part on an updated strike probability, for purchasing a position predicting the future first hurricane landstrike in the indicated geographical area.

2. The method according to claim 1, further comprising, in response to the user selecting the user selectable portion, displaying in the second portion of the graphical user interface, a strike probability of a future first hurricane landstrike for the indicated geographical area.

3. The method according to claim 1, wherein the second portion of the graphical user interface displays data in the form of a table.

4. The method according to claim 1, further comprising a third portion of said graphical user interface for entry of order data including a designation of the indicated geographical area and the offer price for purchasing a position predicting a future first hurricane landstrike in the 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 a 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 a future first hurricane landstrike for the geographical areas, based upon a scale of values indicating a measurement of the risk of property damage arising from future first hurricane landstrikes; and

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

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;

the database further containing electronically updated data during the substantially continuous ongoing natural process, that provides the basis for electronic calculations of strike probabilities of a future first hurricane landstrike for the geographical areas; 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, an offer price, electronically updated in substantially real time so as to be based at least in part on an updated strike probability, for purchasing a position predicting a future first hurricane landstrike in the indicated geographical area.

7. The system according to claim 6, wherein the interface module, in response to the user selecting the user selectable portion, also displays in the second portion of the graphical user interface, a strike probability of a future first hurricane landstrike in the indicated geographical area.

8. The system according to claim 7, wherein the second portion of the graphical user interface is displayed in the form of a table.

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 the indicated geographical area and the offer price for purchasing a position predicting a future first hurricane landstrike in the 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 starting with a reported precursor tropical storm at sea and 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 future first hurricane landstrikes for the geographical areas, based upon a scale of values indicating a measurement of the risk of property damage arising from future first hurricane landstrikes; and

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

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

during the substantially continuous ongoing natural process, electronically obtaining updated data providing the basis for electronic calculations of strike probabilities of a future first hurricane landstrike for the geographical areas; 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, an offer price, electronically updated in substantially real time so as to be based at least in part on an updated strike probability, for purchasing a position predicting the future first hurricane landstrike in the indicated geographical area.