IP Library Granted Patent US 11,112,534
Granted Patent B2
US 11,112,534 · App. 16/549,079 · Granted Sep 7, 2021

Method and system for predicting the financial impact of environmental or geologic conditions

Inventors: Rosemary Y. Radich (Wichita, KS); Tim Loftus (Wichita, KS); Jennifer Bowers (Wichita, KS); Paul Roehsner (State College, PA); Paul Raymond (State College, PA); Michael R. Root (Edmond, OK)
Assignee: AccuWeather, Inc.
G01W1/10G06Q10/04
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Quick Facts
Patent No.
US 11,112,534
App. No.
16/549,079
Filed
Aug 23, 2019
Granted
Sep 7, 2021
Kind
B2
Examiner
LE, JOHN H
Art Unit
2862
USPC
702/3
Abstract

A system and method of predicting the financial impact of environmental or geologic events (that include one or more environmental or geologic conditions) by determining a recurrence interval of each past condition in each location, determining the correlation between the past condition and the observable financial impact of the past event, calculating a predicted observable financial impact of each past event, calculating a predicted financial impact of each past event recurring by multiplying the predicted observable financial impact of the past event by the recurrence interval of the past condition, grouping the past events into a plurality of groups based on the predicted financial impact of the past condition recurring, determining a threshold for each group, identifying current or forecasted conditions, and determining the predicted financial impact of the current or forecasted conditions by comparing the current or forecasted conditions with the thresholds.

Claims (104)

1. A method of graphically displaying predicted financial impacts of environmental conditions over geographic regions, the method comprising:

receiving, using control circuitry, information indicative of past environmental events in a plurality of locations, each of the past environmental events including one or more past environmental conditions;

receiving, using the control circuitry, information indicative of the observable financial impact of at least some of the past environmental events;

for each of the plurality of locations and each of the one or more environmental conditions:

determining, using the control circuitry, a recurrence interval of each of the past environmental conditions in the plurality of locations;

determining, using the control circuitry, correlations between the past environmental conditions and the observable financial impact of the past environmental events;

calculating, using the control circuitry, a predicted observable financial impact of each of the past environmental conditions;

calculating, using the control circuitry, a predicted financial impact of each of the past environmental conditions recurring by multiplying the predicted observable financial impact the past environmental event by the recurrence interval of the past environmental condition;

grouping, using the control circuitry, the past environmental events into a plurality of groups based on the predicted financial impact of the past environmental condition recurring; and

determining, using the control circuitry, a threshold for each of the plurality of groups;

receiving, using the control circuitry, current or forecasted environmental conditions;

determining, using the control circuitry, the predicted financial impact of the current or forecasted environmental conditions by comparing the current or forecasted environmental conditions with the thresholds determined for each of the groups in the plurality of locations of the current or forecasted environmental conditions; and

generating for display, in a graphical user interface, a map of the plurality of locations that graphically describes the predicted financial impact of the current or forecasted environmental conditions.

2. The method of claim 1 , wherein the correlation between the past environmental condition and the observable financial impact of the past environmental event is determined using a regression algorithm.

3. The method of claim 1 , further comprising: weighting the observable financial impact of past environmental events by population.

4. The method of claim 1 , further comprising: interpolating the thresholds for the plurality of locations to determine thresholds for additional locations.

5. The method of claim 4 , wherein the thresholds are interpolated using a Kriging technique.

6. The method of claim 1 , wherein determining thresholds for each of the one or more environmental conditions comprises determining thresholds for each of a plurality of environmental conditions and each of the plurality of locations.

7. The method of claim 6 , wherein the plurality of environmental conditions include at least one of pollution, deforestation, depopulation, inhospitableness, biodegradable pollution, nonbiodegradable pollution, air pollution, noise pollution, sound pollution, thermal pollution, or water pollution.

8. A system for graphically displaying predicted financial impact of environmental conditions over geographic regions, comprising:

one or more databases that store:

information indicative of past environmental events in a plurality of locations, each of the past environmental events including one or more past environmental conditions; and

information indicative of the observable financial impact of at least some of the past environmental events;

an analysis unit that, for each of the plurality of locations and each of the one or more environmental conditions:

determines a recurrence interval of each of the past environmental conditions in each of the plurality of locations;

determines correlations between the past environmental conditions and the observable financial impact of the past environmental events;

calculates a predicted observable financial impact of each of the past environmental conditions;

calculates a predicted financial impact of each of the past environmental conditions recurring by multiplying the predicted observable financial impact the past environmental condition by the recurrence interval of the past environmental condition;

groups the past environmental events into a plurality of groups based on the predicted financial impact of the past environmental condition recurring;

determines a threshold for each of the plurality of groups;

receives current or forecasted environmental conditions;

determines the predicted financial impact of the current or forecasted environmental conditions by comparing the current or forecasted environmental conditions with the thresholds determined for each of the groups in the plurality of locations of the current or forecasted environmental events; and

generates for display, in a graphical user interface, a map of the plurality of locations that graphically describes the predicted financial impact of the current or forecasted environmental conditions.

9. The system of claim 8 , wherein the analysis unit is further configured to determine the correlation between the past environmental condition and the observable financial impact of the past environmental event using a regression algorithm.

10. The system of claim 8 , wherein the analysis unit is further configured to weight the observable financial impact of past environmental events by population.

11. The system of claim 8 , wherein the analysis unit is further configured to interpolate the thresholds for the plurality of locations to determine thresholds for additional locations.

12. The system of claim 11 , wherein the analysis unit is further configured to interpolate the thresholds using a Kriging technique.

13. The system of claim 8 , wherein the analysis unit is configured to determine thresholds for each of a plurality of environmental conditions in each of a plurality of locations.

14. The system of claim 13 , wherein the plurality of environmental conditions include at least one of pollution, deforestation, depopulation, inhospitableness, biodegradable pollution, nonbiodegradable pollution, air pollution, noise pollution, sound pollution, thermal pollution, or water pollution.

15. A non-transitory computer-readable storage medium for graphically displaying predicted financial impacts of environmental conditions over geographic regions storing instructions that, when executed by a computer process, cause a computing device to:

receive information indicative of past environmental events in a plurality of locations, each of the past environmental events including one or more past environmental conditions;

receive information indicative of the observable financial impact of at least some of the past environmental events;

for each of the plurality of locations and each of the one or more environmental conditions:

determine a recurrence interval of each of the past environmental conditions in each of the plurality of locations;

determine correlations between the past environmental conditions and the observable financial impact of the past environmental events;

calculate a predicted observable financial impact of each of the past environmental conditions;

calculate a predicted financial impact of each of the past environmental conditions recurring by multiplying the predicted observable financial impact the past environmental condition by the recurrence interval of the past environmental condition;

group the past environmental events into a plurality of groups based on the predicted financial impact of the past environmental condition recurring; and

determine threshold for each of the plurality of groups;

receive current or forecasted environmental conditions;

determine the predicted financial impact of the current or forecasted environmental conditions by comparing the current or forecasted environmental conditions with the thresholds determined for each of the groups in the plurality of locations of the current or forecasted environmental events; and

generating for display, in a graphical user interface, a map of the plurality of locations that graphically describes the predicted financial impact of the current or forecasted environmental conditions.

16. A method of graphically displaying predicted financial impacts of geologic conditions over geographic regions, the method comprising:

receiving, using control circuitry, information indicative of past geologic events in a plurality of locations, each of the past geologic events including one or more past geologic conditions;

receiving, using the control circuitry, information indicative of the observable financial impact of at least some of the past geologic events;

for each of the plurality of locations and each of the one or more geologic conditions:

determining, using the control circuitry, a recurrence interval of each of the past geologic conditions in each of the plurality of locations;

determining, using the control circuitry, correlations between the past geologic conditions and the observable financial impact of the past geologic events;

calculating, using the control circuitry, a predicted observable financial impact of each of the past geologic conditions;

calculating, using the control circuitry, a predicted financial impact of each of the past geologic conditions recurring by multiplying the predicted observable financial impact the past geologic condition by the recurrence interval of the past geologic condition;

grouping, using the control circuitry, the past geologic events into a plurality of groups based on the predicted financial impact of the past geologic condition recurring; and

determining, using the control circuitry, a threshold for each of the plurality of groups;

receiving, using the control circuitry, current or forecasted geologic conditions;

determining, using the control circuitry, the predicted financial impact of the current or forecasted geologic conditions by comparing the current or forecasted geologic conditions with the thresholds determined for each of the groups in the plurality of locations of the current or forecasted geologic events; and

generating for display, in a graphical user interface, a map of the plurality of locations that graphically describes the predicted financial impact of the current or forecasted geologic conditions.

17. The method of claim 16 , wherein the correlation between the past geologic condition and the observable financial impact of the past geologic event is determined using regression algorithm.

18. The method of claim 16 , further comprising: weighting the observable financial impact of past geologic events by population.

19. The method of claim 16 , further comprising: interpolating the thresholds for the plurality of locations to determine thresholds for additional locations.

20. The method of claim 19 , wherein the thresholds are interpolated using a Kriging technique.

21. The method of claim 16 , wherein determining thresholds for each of the one or more geologic conditions comprises determining thresholds for each of a plurality of geologic conditions and each of the plurality of locations.

22. The method of claim 21 , wherein the plurality of geologic conditions include at least one of erosion, glaciation, volcanic eruption or emission, earthquake, tsunami, avalanche, landslide, or mudslide.

23. A system for graphically displaying predicted financial impacts of geologic conditions over geographic regions, comprising:

one or more databases that store:

information indicative of past geologic events in a plurality of locations, each of the past geologic events including one or more past geologic conditions; and

information indicative of the observable financial impact of at least some of the past geologic events;

an analysis unit that, for each of the plurality of locations and each of the one or more geologic conditions:

determines a recurrence interval of each of the past environmental conditions in each of the plurality of locations;

determines correlations between the past geologic conditions and the observable financial impact of the past geologic events;

calculates a predicted observable financial impact of each of the past geologic conditions;

calculates a predicted financial impact of each of the past geologic conditions recurring by multiplying the predicted observable financial impact the past geologic condition by the recurrence interval of the past geologic condition;

groups the past geologic events into a plurality of groups based on the predicted financial impact of the past geologic condition recurring;

determines a threshold for each of the plurality of groups;

receives current or forecasted geologic conditions;

determines the predicted financial impact of the current or forecasted geologic conditions by comparing the current or forecasted geologic conditions with the thresholds determined for each of the groups in the plurality of locations of the current or forecasted geologic events; and

generating for display, in a graphical user interface, a map of the plurality of locations that graphically describes the predicted financial impact of the current or forecasted geologic conditions.

24. The system of claim 23 , wherein the analysis unit is further configured to determine the correlation between the past geologic condition and the observable financial impact of the past geologic event using a regression algorithm.

25. The system of claim 23 , wherein the analysis unit is further configured to weight the observable financial impact of past geologic events by population.

26. The system of claim 23 , wherein the analysis unit is further configured to interpolate the thresholds for the plurality of locations to determine thresholds for additional locations.

27. The system of claim 26 , wherein the analysis unit is further configured to interpolate the thresholds using a Kriging technique.

28. The system of claim 23 , wherein the analysis unit is configured to determine thresholds for each of a plurality of geologic conditions in each of a plurality of locations.

29. The system of claim 28 , wherein the plurality of geologic conditions include at least one of erosion, glaciation, volcanic eruption or emission, earthquake, tsunami, avalanche, landslide, or mudslide.

30. A non-transitory computer-readable storage medium for graphically displaying predicted financial impacts of geologic conditions over geographic regions storing instructions that, when executed by a computer process, cause a computing device to:

receive information indicative of past geologic events in a plurality of locations, each of the past geologic events including one or more past geologic conditions;

receive information indicative of the observable financial impact of at least some of the past geologic events;

for each of the plurality of locations and each of the one or more geologic conditions:

determine a recurrence interval of each of the past geologic conditions in each of the plurality of locations;

determine correlation between the past geologic conditions and the observable financial impact of the past geologic events;

calculate a predicted observable financial impact of each of the past geologic conditions;

calculate a predicted financial impact of each of the past geologic conditions recurring by multiplying the predicted observable financial impact the past geologic condition by the recurrence interval of the past geologic condition;

group the past geologic events into a plurality of groups based on the predicted financial impact of the past geologic condition recurring; and

determine threshold for each of the plurality of groups;

receive current or forecasted geologic conditions; and

determine the predicted financial impact of the current or forecasted geologic conditions by comparing the current or forecasted geologic conditions with the thresholds determined for each of the groups in the plurality of locations of the current or forecasted geologic events; and

generate for display, in a graphical user interface, a map of the plurality of locations that graphically describes the predicted financial impact of the current or forecasted geologic conditions.

Assignments (1)
SECURITY INTEREST Recorded Mar 15, 2022
From: ACCUWEATHER, INC.
To: FIRST NATIONAL BANK OF PENNSYLVANIA
Reel/Frame 059271/0755 →
Continuity (3)
Continuation 15609650 · May 31, 2017
Provisional Application 62343547 · May 31, 2016
Related Publication 20190377103A1 · Dec 12, 2019