Patent ID: 7783542
Filing Date: 2010-08-24
Classification: G06Q,G07F

Abstract:
1. A computerized method of offering for purchase, positions predicting a future first natural peril landstrike resulting from a substantially continuous ongoing natural process culminating in a future first natural peril 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) an ongoing series of updated strike probabilities of future first natural peril landstrikes in the geographical areas; 3) an ongoing series of updated premiums for purchasing positions predicting the future first natural peril landstrike in the available geographical areas, including at least one initial premium that is based at least in part upon a strike probability of a future first natural peril landstrike in the geographical areas; 4) the number of positions currently purchased for each available geographical area; 5) the current total proceeds received for all of the available geographical areas; and 6) the current value of the position for each available geographical area; displaying the map in the first portion of the graphical user interface, with user selectable portions corresponding to the geographical areas of the map; displaying in association with the map, substantially real time progress of the ongoing natural process; during the substantially continuous ongoing natural process, electronically obtaining updated data providing the basis for electronic calculations of current strike probabilities of a future first natural peril 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, a summary of purchase-related information, including 1) the current updated strike probability of a future first natural peril landstrike in the indicated geographical area; 2) the current updated premium for purchasing a position predicting the future first natural peril landstrike in the indicated geographical area, comprising part of an ongoing series of updated premiums including at least one initial premium that is based at least in part upon a strike probability of a future first natural peril landstrike in the geographical areas; 3) the current number of positions purchased for each available geographical area; 4) the current total proceeds received for all of the available geographical areas; and 5) current value of the positions for each available geographical area.