Methods, systems, and media for managing wind speed data, seismic data and other parametric data
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United States of America Patent
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Apr 16, 2024
Grant Date -
Oct 19, 2023
app pub date -
Jun 23, 2023
filing date -
Oct 8, 2015
priority date (Note) -
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Abstract
A system for collecting and managing parametric data via an external communications network comprises one or more parametric stations operatively connected via the external network to a certification server and a payout server. Each parametric station is configured to receive parametric data from a remote source, determine that the parametric data satisfies a predetermined condition, and transmit the parametric data over the external network to the certification server in response to the parametric data satisfying the predetermined condition. The certification server is configured to generate a certification report based on the parametric data and a data model related to the remote source and transmit the generated certification report to the payout server. The payout server is configured to determine that terms of an associated contract are satisfied based on the certification report, and trigger a payout based on the terms that are satisfied based on the certification report.
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