Systems and methods for providing umbrella insurance policies

A non-transitory computer readable medium for providing an umbrella insurance policy comprising computer executable instructions for:

• assigning scores to each of a number of attributes related to customer information gathered from accessed existing customer records and answers provided by the customer through an electronic interface;
• automatically placing the customer into a tier based on each of the scores;
• automatically calculating an umbrella policy quote based on the customer's tier;
• displaying the umbrella insurance policy quote electronically to the customer with umbrella coverage amount options;
• receiving the customer's electronic acceptance of the quote;
• automatically issuing the umbrella insurance policy based on the received acceptance;
• and
• receiving preauthorization from the customer to automatically update the umbrella insurance policy in response to future changes to an underlying homeowner's or automobile insurance policy.

A non-transitory computer readable medium for determining a disposition of an application for an umbrella insurance policy comprising computer executable instructions for:

• automatically gathering customer information from accessed existing customer insurance records;
• automatically gathering customer information from answers provided by the customer through a provided electronic interface;
• automatically displaying to the customer via the electronic interface one or more pieces of accessed existing customer information and, in response, receiving verification from the customer that the existing customer information is valid;
• assigning scores to each of a number of attributes related to the gathered information;
• automatically placing the customer into a tier based on each of the scores;
• and
• automatically determining a disposition of the application for an umbrella insurance policy based on the tier.

A non-transitory computer readable medium for calculating a premium quote for an umbrella insurance policy comprising computer executable instructions for:

• automatically gathering customer information from accessed existing customer insurance records;
• automatically gathering customer information from answers provided by the customer through a provided electronic interface;
• automatically calculating a customer tier level value by assigning scores to each of a number of attributes related to the gathered customer information;
• automatically calculating the umbrella insurance policy premium quote based on the customer tier level;
• and
• receiving preauthorization from the customer to automatically update the umbrella insurance policy in response to future changes to an underlying homeowner's or automobile insurance policy.

A system implemented on one or more computer processors for updating a current umbrella insurance policy comprising:

• at least one subsystem configured for automatically determining whether a change has been made to a customer's underlying homeowner's or automobile insurance policy;
• at least one subsystem configured for automatically determining whether an adjustment is needed to the current umbrella insurance policy of the customer in view of any changes to the customer's underlying homeowner's or automobile insurance policy;
• at least one subsystem configured to receive preauthorization from the customer to automatically update an umbrella insurance policy in response to future changes to the customer's underlying homeowner's or automobile insurance policy;
• and
• at least one subsystem configured for automatically updating, in accordance with the customer's preauthorization, the customer's current umbrella insurance policy in view of any changes made to the customer's underlying homeowner's or automobile insurance policy if it is determined that an adjustment is needed to the customer's current umbrella insurance policy in view of any changes to the customer's underlying homeowner's or automobile insurance policy,
• wherein a policy premium of an updated umbrella insurance policy of the customer is based on a customer tier level determined using scores assigned to a number of attributes related to customer information.