System and method to interactively update insurance information based on vehicle modifications

A computer system for determining replacement cost associated with a customized vehicle, the computer system comprising:

• a memory configured to store instructions;
• a processor disposed in communication with the memory, wherein the processor upon execution of the instructions is configured to:
• access an image of the customized vehicle;
• perform image processing on the image to generate a shell of the customized vehicle, wherein the shell of the customized vehicle is associated with an initial set of components for a model of the customized vehicle;
• perform image processing on the image to detect a customized component of the vehicle, wherein the customized component is not within the initial set of components;
• update the shell based on detection of the customized component;
• determine a replacement cost for the customized component;
• determine a premium associated with an insurance policy covering the vehicle, wherein the premium is based on a difference between the replacement cost for the customized component and an associated standard component from the initial set of components;
• and
• provide the premium to a user.

A method, comprising:

• receiving, at a computer system, identification data relating to a vehicle;
• acquiring an initial shell image based on the identification data, the initial shell image having components associated with the vehicle;
• providing the initial shell image to a user via a graphical user interface (GUI) with at least one interactive component of the vehicle, each of the at least one interactive component having an associated interactive element of the GUI;
• in response to user selection of the interactive component, providing by the GUI multiple hierarchical prompts for the user to select a custom component type from a plurality of the component types for the component;
• in response to providing the multiple hierarchical prompts via the GUI, prompting the user to select the custom component type from a plurality of component types for the component;
• generating a customized shell image based on the initial shell image and the custom component type;
• providing the customized shell image to a user via the GUI with the at least one interactive component of the vehicle;
• determining a replacement cost for a selected custom component type;
• determining a premium associated with an insurance policy covering the vehicle, wherein the premium is based on a difference between the replacement cost for the selected custom component and an associated standard component from an initial set of components;
• and
• providing the premium to the user via the GUI.