Patent ID: 8364506

Claim:
A computer system, comprising: a risk information input component configured to input risk characteristic information concerning a property to be insured, said risk characteristic information indicative of sensitivities of at least one constituent material of said property to commodity prices; a commodity futures information input component configured to receive commodity futures information indicative of futures contract prices for at least one commodity relevant to a future price of said at least one constituent material; a pricing model component configured to store an insurance pricing model, the insurance pricing model operative to predict a probable timing of at least one potential claim under a proposed insurance policy on said property, and base pricing of insurance policies at least in part on said commodity futures information; a processor coupled to the risk information input component, the commodity futures information input component and the pricing model component, the processor operative to apply said insurance pricing model to said risk characteristic information and to said commodity futures information, the processor generating a premium quotation for insuring said property, said premium quotation based at least in part on said probable timing of the at least one potential claim under said proposed insurance policy on said property, said insurance pricing model and said commodity futures information including a commodity future price for a point in time that matches said probable timing of the at least one potential claim; and an output module coupled to the processor and configured to output said premium quotation.