Disaster risk management and financing system, and corresponding method thereof

US11222388B2 · kind B2 · utility

Assignee

• Swiss Reinsurance Company Ltd. · CH

Inventors

• David Baumgartner · Parker, US
• Nikhil Da Victoria Lobo · New York, US
• Bridget Carle · Washington, US

Key dates

• Filing date: Feb 21, 2017
• Grant date: Jan 11, 2022
• Expiry date: Aug 28, 2037

Classification

• Technology area (CPC G): Physics
• CPC primary: G06Q40/08
• WIPO field: IT methods for management
• WIPO sector: Electrical engineering

Abstract

A method and system, the method including capturing country-specific parameters of a risk-exposed country relating to stored predefined criteria, assigning one or more disaster event types to a disaster history table, capturing and storing mapping parameters for a geographic risk map, assigning each of a plurality of selectable disaster financing types to a definable cost factor capturing the capital cost of the disaster financing type in relation to its application for disaster mitigation, determining expected catastrophe losses by a loss frequency function and the geographic risk map for various scenarios of occurring natural disaster event types, and preparing a forecast of an effect of the disaster financing type to cover the catastrophe losses based on the coverage structure, the assigned cost factors, and the determined expected catastrophe losses