Systems and methods for pet insurance underwriting, rating, adjustments, and enrollment

A method of individualizing pet insurance premiums based on acquired pet monitoring data performed by a server of a computing system, the method comprising:

• receiving pet monitoring data for a pet from at least one sensor on a pet monitoring device worn by the pet, wherein the pet monitoring data comprises a detected location received from a GPS monitor and an activity level received from at least one of a gyroscope or an accelerometer;
• transmitting pet monitoring information to an insurer computing device, wherein the pet monitoring information comprises at least a portion of the pet monitoring data;
• receiving background data about the pet that comprises at least one of:
• an age, sex, breed, place of residence, proportion of time spent outdoors, vaccine record, neuter record, preexisting health condition, other medical history, or owner insurance preference, wherein the background data is received from the pet monitoring device or automatically pulled from a web-based medical record or an image of a physical medical record;
• transmitting the background data to the insurer computing device, wherein the pet monitoring data received from the pet monitoring device is used to verify or supplement the background data, and wherein the insurer computing device calculates a preliminary premium rate based on the background data;
• and
• receiving an adjusted premium rate for the pet from the insurer computing device, wherein the adjusted premium rate is determined by the insurer computing device by adjusting the preliminary premium rate based on the pet monitoring information.

A method of individualizing pet insurance premiums based on acquired pet monitoring data performed by a server of a computing system, the method comprising:

• receiving pet monitoring data for a pet from at least one sensor on a pet monitoring device worn by the pet, wherein the pet monitoring data comprises a detected location received from a GPS monitor and an activity level received from at least one of a gyroscope or an accelerometer;
• transmitting pet monitoring information to an insurer computing device, wherein the pet monitoring information comprises at least a portion of the pet monitoring data;
• receiving background data about the pet via a user input or from the pet monitoring device, wherein the background data about the pet comprises at least one of:
• an age, sex, breed, place of residence, proportion of time spent outdoors, vaccine record, neuter record, preexisting health condition, other medical history, or owner insurance preference;
• transmitting the background data to the insurer computing device, wherein the pet monitoring data received from the pet monitoring device is used to verify or supplement the background data received from the user input, and wherein the insurer computing device calculates a preliminary premium rate based on the background data;
• receiving an adjusted premium rate for the pet from the insurer computing device, wherein the adjusted premium rate is determined by the insurer computing device by adjusting the preliminary premium rate based on the pet monitoring information;
• and
• adjusting an auto-pay amount associated with the preliminary premium rate to correspond to the adjusted premium.