Systems, computer-implemented methods, and computer medium to determine premiums for supplemental crop insurance
Provided are systems, machines, non-transitory computer medium having computer program instructions stored thereon, and computer-implemented methods for providing a premium for a supplemental crop insurance policy. The methods include identifying policy information for the policy (including a crop t...
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| creator | Atwood, Joe Stabnow, Jeff Loar, Steve Watts, Tim Driscoll, Jim Offerdahl, Alex |
| description | Provided are systems, machines, non-transitory computer medium having computer program instructions stored thereon, and computer-implemented methods for providing a premium for a supplemental crop insurance policy. The methods include identifying policy information for the policy (including a crop type, expected yield, a selected coverage level, and one or more discovery periods), generating simulated potential price trajectories for the crop type over a given time period that includes the one or more discovery periods, determining simulated prices based on the simulated potential price trajectories, generating simulated correlated price-yield realizations for the crop type over the given time period, determining simulated yields based on the simulated correlated price-yield realizations, determining a premium rate as a function of the expected yield, the selected coverage level, the simulated prices and the simulated yields, and providing the premium rate for use in determining a premium amount for the policy. |
| format | Patent |
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The methods include identifying policy information for the policy (including a crop type, expected yield, a selected coverage level, and one or more discovery periods), generating simulated potential price trajectories for the crop type over a given time period that includes the one or more discovery periods, determining simulated prices based on the simulated potential price trajectories, generating simulated correlated price-yield realizations for the crop type over the given time period, determining simulated yields based on the simulated correlated price-yield realizations, determining a premium rate as a function of the expected yield, the selected coverage level, the simulated prices and the simulated yields, and providing the premium rate for use in determining a premium amount for the policy.</description><language>eng</language><subject>CALCULATING ; COMPUTING ; COUNTING ; DATA PROCESSING SYSTEMS OR METHODS, SPECIALLY ADAPTED FORADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL, SUPERVISORYOR FORECASTING PURPOSES ; PHYSICS ; SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE,COMMERCIAL, FINANCIAL, MANAGERIAL, SUPERVISORY OR FORECASTINGPURPOSES, NOT OTHERWISE PROVIDED FOR</subject><creationdate>2020</creationdate><oa>free_for_read</oa><woscitedreferencessubscribed>false</woscitedreferencessubscribed></display><links><openurl>$$Topenurl_article</openurl><openurlfulltext>$$Topenurlfull_article</openurlfulltext><thumbnail>$$Tsyndetics_thumb_exl</thumbnail><linktohtml>$$Uhttps://worldwide.espacenet.com/publicationDetails/biblio?FT=D&date=20200121&DB=EPODOC&CC=US&NR=10540722B2$$EHTML$$P50$$Gepo$$Hfree_for_read</linktohtml><link.rule.ids>230,308,780,885,25562,76317</link.rule.ids><linktorsrc>$$Uhttps://worldwide.espacenet.com/publicationDetails/biblio?FT=D&date=20200121&DB=EPODOC&CC=US&NR=10540722B2$$EView_record_in_European_Patent_Office$$FView_record_in_$$GEuropean_Patent_Office$$Hfree_for_read</linktorsrc></links><search><creatorcontrib>Atwood, Joe</creatorcontrib><creatorcontrib>Stabnow, Jeff</creatorcontrib><creatorcontrib>Loar, Steve</creatorcontrib><creatorcontrib>Watts, Tim</creatorcontrib><creatorcontrib>Driscoll, Jim</creatorcontrib><creatorcontrib>Offerdahl, Alex</creatorcontrib><title>Systems, computer-implemented methods, and computer medium to determine premiums for supplemental crop insurance</title><description>Provided are systems, machines, non-transitory computer medium having computer program instructions stored thereon, and computer-implemented methods for providing a premium for a supplemental crop insurance policy. 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The methods include identifying policy information for the policy (including a crop type, expected yield, a selected coverage level, and one or more discovery periods), generating simulated potential price trajectories for the crop type over a given time period that includes the one or more discovery periods, determining simulated prices based on the simulated potential price trajectories, generating simulated correlated price-yield realizations for the crop type over the given time period, determining simulated yields based on the simulated correlated price-yield realizations, determining a premium rate as a function of the expected yield, the selected coverage level, the simulated prices and the simulated yields, and providing the premium rate for use in determining a premium amount for the policy.</abstract><oa>free_for_read</oa></addata></record> |
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| subjects | CALCULATING COMPUTING COUNTING DATA PROCESSING SYSTEMS OR METHODS, SPECIALLY ADAPTED FORADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL, SUPERVISORYOR FORECASTING PURPOSES PHYSICS SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE,COMMERCIAL, FINANCIAL, MANAGERIAL, SUPERVISORY OR FORECASTINGPURPOSES, NOT OTHERWISE PROVIDED FOR |
| title | Systems, computer-implemented methods, and computer medium to determine premiums for supplemental crop insurance |
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