Patent ID: 8214284
Filing Date: 2012-07-03
Classification: G06Q

Abstract:
1. A computer-implemented method for managing funding of catastrophe relief efforts associated with a special purpose entity, the method comprising: receiving, by a payment receiving module executed by a computer of the special purpose entity, a purchase request from a charitable organization via a telecommunication network, wherein the purchase request comprises data defining a premium payment and specification of protection; storing, in a memory device associated with the computer of the special purpose entity, an electronic data structure, which represents a financial product of the special purpose entity; offering the financial product to a donor by a control module executed by the computer of the special purpose entity; receiving, by the payment receiving module executed by the computer of the special purpose entity, from the charitable organization payment of a premium assigned to the financial product, the premium corresponding to a monetary donation made to the charitable organization by the donor; receiving, by the payment receiving module executed by the computer of the special purpose entity, via the telecommunication network, an investment request comprising a capital payment assigned to the financial product from one or more investors and a specification of the financial product, receiving, by the payment receiving module executed by the computer of the special purpose entity, via the telecommunication network, from one or more investors payment of capital for the financial product; paying, by a payment module executed by the computer of the special purpose entity, an agreed upon amount corresponding to the premium paid by the charitable organization to the one or more investors, wherein the payment module is connected over the telecommunication network to a computer system or systems of the one or more investors; receiving information about a catastrophic event including a parametric index indicative of a severity of the catastrophic event assigned to the financial product; and issuing payment of the capital from the special purpose entity to the charitable organization, upon occurrence of the catastrophic event assigned to the financial product, for funding relief efforts for the catastrophic event, and repayment of the capital from the special purpose entity to the investors, otherwise.