Patent ID: 8924242
Filing Date: 2014-12-30
Classification: G06Q

Abstract:
1. A computer-implemented method implemented on a platform for the risk management and cost containment of weather-related services, the method comprising: connecting a weather risk management system implemented into a computer in data communication to a computer network for the transfer of input information from a weather database and a weather option database to the weather risk management system, wherein the weather risk management system includes a unitary event module for calculating at least a cost at a site in an area, a global module for calculating at least a base price for services at one or more of a plurality of sites taken from the unitary event module, and a hedge assignment module for calculating a tick price and an associated premium for the selection of an option for managing the risk and containing the cost of weather-related services; entering into the weather risk management system input information from the weather database and the weather option database; calculating by the unitary event module from the entered input information the cost at the site in the area; calculating the base price for services in one or more of the plurality of sites from the unitary event module; and calculating the tick price and the associated premium for the selection of the option for managing the risk and containing the cost by the hedge assignment module.