Systems, computer implemented methods, geographic weather-data selection interface display, and computer readable medium having program products to generate user-customized virtual weather data and user-customized weather-risk products responsive thereto

1. A system to generate a customized weather-risk product for a tract by a user and to provide the customized weather-risk product for a tract to be purchased by user, the system comprising:

a tract-user computer having a display device to display one or more graphical user interfaces to a user and one or more input devices to receive one or more user selections at the one or more graphical user interfaces, the tract-user computer being connected to a communications network so that the tract-user computer can receive the one or more graphical user interfaces and transmit the one or more user selections;

a database in communication with the tract-user computer to associate the one or more user selections with one or more of weather-risk actuarial data, weather-station location data for each of a plurality of weather stations, and weather-station basis weather data for each of the plurality of weather stations;

a weather-risk product issuer computer connected to the database and to the communications network, the weather-risk product issuer computer being configured to transmit the one or more graphical user interfaces to the tract-user computer, to receive the one or more user selections, and to process the one or more user selections to thereby generate a virtual weather data for a tract and a weather-risk product for the tract, the weather-risk product issuer computer comprising:

one or more processors;

non-transitory memory positioned in communication with the one or more processors to store one or more computer programs therein;

an input/output unit in communication with the one or more processors and the non-transitory memory, the input/output unit being adapted to be in communication with one or more tract-user computers through a communications network to transmit one or more graphical user interfaces to the one or more tract-user computers and to receive one or more user selections responsive thereto;

computer program, defining a virtual weather-data-station designer, stored in the non-transitory memory and operable on the one or more processors, the virtual weather-data-station designer having a set of instructions that, when executed by the one or more processors, cause the one or more processors to perform the following operations:

generating a geographic weather-data selection interface to display at the tract-user computer, the geographic weather-data selection interface comprising a geographic map image corresponding to a geographic coordinate system, a plurality of weather-station markers being overlaid on the geographic map image, each of the plurality of weather-station markers being positioned thereon responsive to weather-station location data corresponding to the geographic coordinate system, the geographic weather-data selection interface allowing a user at the tract-user computer to graphically select a plurality of geographic parameters for the tract by positioning a cursor on the geographic map image at one or more positions corresponding to a tract location in the geographic coordinate system, each of plurality of geographic parameters corresponding to the geographic coordinate system, and to transmit the plurality of geographic parameters to the weather-risk product issuer computer,

determining a plurality of weather-station identifiers responsive to receiving the plurality of geographic parameters from the tract-user computer, each of the plurality of weather-station identifiers corresponding to the weather-station location data for a respective weather station having a weather-station location near the tract location in the geographic coordinate system,

generating a source selection interface to display at the tract-user computer responsive to the plurality of weather-station identifiers, the source selection interface allowing the user to select a plurality of user-selected weather-station identifiers and a plurality of user-selected weather-station weights, each of the plurality of the user-selected weather-station identifiers corresponding to one of the plurality of user-selected weather-station weights, and to transmit to the weather-risk product issuer computer the plurality of user-selected weather-station identifiers and the plurality of user-selected weather-station weights, and

storing the plurality of user-selected weather-station identifiers and the plurality of user-selected weather-station weights in the non-transitory memory, responsive to receiving each of the plurality of user-selected weather-station identifiers and the plurality of user-selected weather-station weights from the tract-user computer, so that virtual weather data for the tract may be generated responsive thereto;

computer program, defining a virtual weather-data generator, stored in the non-transitory memory and operable on the one or more processors, the virtual weather data generator having a set of instructions that, when executed by the processor, cause the one or more processors to perform the following operations:

determining a plurality of station-specific weather histories responsive to the plurality of user-selected weather-stations, each of the plurality of station-specific weather histories corresponding to a respective weather station for the each of the plurality of user-selected weather-station identifiers,

generating virtual weather data responsive to the plurality of station-specific weather histories and the plurality of user-selected weather-station weights, each of the plurality of station-specific weather histories being weighted by a one of the plurality of user-selected weather-station weights for the respective weather station, the virtual weather data being a user-weighted composite weather history for the tract, and

storing the virtual weather data in the non-transitory memory so that a customized weather-risk product for the tract can be generated responsive thereto;

computer program, defining weather-risk-product generator, stored in the non-transitory memory and operable on the one or more processors, the weather-risk-product generator having a set of instructions that, when executed by the processor, cause the one or more processors to perform the following operations:

generating a weather-risk selection interface to display at the tract-user computer, the weather-risk selection interface allowing the user at the tract-user computer to select a plurality of user-selected weather-risk parameters and to transmit the plurality of user-selected weather-risk parameters to the weather-risk product issuer computer, the plurality of user-selected weather-risk parameters including each of a concern type, a risk type for the concern type, a risk tolerance range for the concern type, and a risk endurance range for the concern type,

determining timeframe-specific virtual weather data responsive to the virtual weather data and to one or more of the plurality of user-selected weather-risk parameters received from the tract-user computer,

determining a plurality of customized contract terms responsive to the timeframe-specific virtual weather data and to one or more of the plurality of user-selected weather risk parameters, the plurality of customized contract terms including each of a contract price, a contract premium, and a payout rate,

generating a weather-risk confirmation interface responsive to the timeframe-specific virtual weather data, the customized contract terms, and the user-selected weather-risk parameters, the weather-risk confirmation interface to display at the tract-user computer, the weather-risk confirmation interface comprising a first time-plot of the timeframe-specific virtual weather data, the risk tolerance range of the user-selected weather-risk parameters being overlaid on the first time-plot, and a second time-plot of the payout scale applied to the timeframe-specific virtual weather data, the weather-risk confirmation interface thereby allowing the user to observe hypothetical historical performance of the plurality of customized contract terms with respect to the timeframe-specific virtual weather data and the plurality of user-selected weather risk parameters, the weather-risk confirmation interface allowing the user to transmit either of a purchase request and a reset request to weather-risk product issuer computer,

regenerating one of the geographic weather-data selection interface and the source selection interface responsive to receiving a reset request so that the user can configure a new virtual weather-data-station and generate new virtual weather data responsive thereto, and

generating a customized weather-risk product responsive to receiving a purchase request, the customized weather-risk product corresponding to the plurality of customized contract terms and the user-selected weather risk parameters so that customized weather-risk product can be purchased by the user to allow settlement according to customized contract terms against a future weather event on the tract that satisfies the user-selected weather risk parameters.

2. A system to generate a customized weather-risk product for a tract by a user and to provide the customized weather-risk product for a tract to be purchased by user, the system comprising:

a tract-user computer having a display device to display one or more graphical user interfaces to a user and one or more input devices to receive one or more user selections at the one or more graphical user interfaces, the tract-user computer being connected to a communications network so that the tract-user computer can receive the one or more graphical user interfaces and transmit the one or more user selections;

a database in communication with the tract-user computer to associate the one or more user selections with one or more of weather-risk actuarial data, weather-station location data for each of a plurality of weather stations, and weather-station basis weather data for each of the plurality of weather stations;

a weather-risk product issuer computer connected to the database and to the communications network, the weather-risk product issuer computer being configured to transmit the one or more graphical user interfaces to the tract-user computer, to receive the one or more user selections, and to process the one or more user selections to thereby generate a virtual weather data for a tract and a weather-risk product for the tract, the weather-risk product issuer computer comprising:

one or more processors;

non-transitory memory positioned in communication with the one or more processors to store one or more computer programs therein;

an input/output unit in communication with the one or more processors and the non-transitory memory, the input/output unit being adapted to be in communication with one or more tract-user computers through a communications network to transmit one or more graphical user interfaces to the one or more tract-user computers and to receive one or more user selections responsive thereto;

computer program, defining a virtual weather-data-station designer, stored in the non-transitory memory and operable on the one or more processors, the virtual weather-data-station designer having a set of instructions that, when executed by the one or more processors, cause the one or more processors to perform the following operations:

generating a geographic weather-data selection interface to display at the tract-user computer,

determining a plurality of weather-station identifiers responsive to receiving the plurality of geographic parameters from the tract-user computer, and

generating a source selection interface to display at the tract-user computer responsive to the plurality of weather-station identifiers;

computer program, defining a virtual weather-data generator, stored in the non-transitory memory and operable on the one or more processors, the virtual weather data generator having a set of instructions that, when executed by the processor, cause the one or more processors to perform the following operations:

determining a plurality of station-specific weather histories responsive to the plurality of user-selected weather-stations, and

generating virtual weather data responsive to the plurality of station-specific weather histories and the plurality of user-selected weather-station weights; and

computer program, defining weather-risk-product generator, stored in the non-transitory memory and operable on the one or more processors, the weather-risk-product generator having a set of instructions that, when executed by the processor, cause the one or more processors to perform the following operations:

generating a weather-risk selection interface to display at the tract-user computer,

determining timeframe-specific virtual weather data responsive to the virtual weather data and to one or more of the plurality of user-selected weather-risk parameters received from the tract-user computer,

determining a plurality of customized contract terms responsive to the timeframe-specific virtual weather data and to one or more of the plurality of user-selected weather risk parameters,

generating a weather-risk confirmation interface responsive to the timeframe-specific virtual weather data, the customized contract terms, and the user-selected weather-risk parameters,

regenerating one of the geographic weather-data selection interface and the source selection interface responsive to receiving a reset request so that the user can configure a new virtual weather-data-station and generate new virtual weather data responsive thereto, and

generating a customized weather-risk product responsive to receiving a purchase request.