Method and apparatus for calculating a return on investment for weather-related risk management
US6963853B1 · kind B1 · utility
Assignee
Inventor
Key dates
| Filing date | Aug 9, 2000 |
| Grant date | Nov 8, 2005 |
| Priority date | — |
| Expiry date | Apr 23, 2023 |
Classification
- Technology area (CPC G)Physics
- CPC primaryG06Q40/08
- WIPO fieldIT methods for management
- WIPO sectorElectrical engineering
Abstract
A computer-implemented method and system evaluates and displays a return on investment for using weather-related risk-management services. The system includes user interfaces, databases containing information about the accuracy of different forms of weather-related risk-management services and the types and frequency of weather events in different geographical areas, and return on investment functions. The system accepts information about a user's costs of responding to weather warnings and events, retrieves information from its databases and applies the appropriate function to determine a return on investment. The result is then displayed to the user. The method determines the costs of weather-related risks faced by a user under two different risk-management services and compares them, determining a return on investment for the use of one service over the other.
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.