Method for using environmental classification to assist in financial management and services

• US 8,290,795 B2
• Filed: 12/09/2008
• Issued: 10/16/2012
• Est. Priority Date: 06/10/2005
• Status: Active Grant

• Current Assignee: Pioneer Hi-Bred International (Corteva, Inc.)
• Original Assignee: Pioneer Hi-Bred International (Corteva, Inc.)
• Inventors: Avey, Donald P., Bax, Phillip Lee, Brooke, Richard Glenn, Ertl, David S., Gogerty, Joseph K., Harwood, David J., Lauer, Michael J., Meyer, Terry Eu Claire, Peterson, Todd A.
• Primary Examiner(s): VEZERIS, JAMES A
• Application Number:
  US12/330,710
• Publication Number:
  US 20090112637A1
• Time in Patent Office: 1,407 Days
• Field of Search: 705/4
• US Class Current: 705/4
• CPC Class Codes: A01B 79/005 Precision agriculture
• CPC Class Codes: A01C 1/00 Apparatus, or methods of use thereof, for testing or treating seed, roots, or the like, prior to sowing or planting
• CPC Class Codes: A01C 21/00 Methods of fertilising , sowing or planting
• CPC Class Codes: A01H 1/04 Processes of selection involving genotypic or phenotypic markers; Methods of using phenotypic markers for selection
• CPC Class Codes: G06Q 20/10 specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems
• CPC Class Codes: G06Q 30/00 Commerce
• CPC Class Codes: G06Q 30/0256 User search
• CPC Class Codes: G06Q 30/0282 Rating or review of business operators or products
• CPC Class Codes: G06Q 30/0631 Item recommendations
• CPC Class Codes: G06Q 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes
• CPC Class Codes: G06Q 40/03 Credit; Loans; Processing thereof
• CPC Class Codes: G06Q 40/06 Asset management; Financial planning or analysis
• CPC Class Codes: G06Q 40/08 Insurance
• CPC Class Codes: G06Q 50/02 Agriculture; Fishing; Forestry; Mining
• CPC Class Codes: Y02A 40/10 in agriculture
• CPC Class Codes: Y02A 40/22 Improving land use; Improving water use or availability; Controlling erosion

Abstract

Managing risks of crop production can be performed by understanding the relative performance of different agricultural inputs under the same or similar environmental conditions. In addition, managing of crop production risks can be performed by understanding variations in the performance of the same agricultural inputs over a range of environmental conditions. By being able to describe and understand these variations in performance, decisions can be made which are consistent with overall business and/or production objectives and limit risk associated with variations in environmental conditions. In addition to producers there are other stakeholders in the crop production process, such as financial institutions, insurance providers, users of crops produced, and input suppliers. These and other stakeholders can provide financial incentives to producers for managing crop production risks through use of environmental classification and/or genotype-by-environment information.

Claims

1. A method for providing a crop insurance policy to a producer, the method comprising:

receiving an evaluation, according to an environmental classification system, of use of agricultural inputs for a land base associated with a producer, wherein each of the agricultural inputs being associated with an environmental class according to the environmental classification system, and wherein the land base being associated with an environmental class according to the environmental classification system;

determining a recommended agricultural input of the agricultural inputs, wherein the recommended agricultural input is based on the environmental class associated with each agricultural input and the environmental class associated with the land base;

determining a production risk associated with using the recommended agricultural input at the land base; and

determining, via a processor, one or more terms of the crop insurance policy based on the production risk associated with using the recommended agricultural input at the land base; and

providing the crop insurance policy including the one or more terms to the producer.

2. The method of claim 1 wherein the environmental classification system is at least partially based on genotype by environment interactions.

3. The method of claim 1 wherein the crop insurance policy is a crop revenue insurance policy.