Abstract: Described herein are methods and systems for administering a life insurance policy that provide an alternative to the traditional approach by querying a client for a set of coverage objectives and using a set of algorithms to automatically adjust billed premiums on an ongoing basis to maintain the client-specified coverage objectives—a methodology referred to herein as “dynamic billing.” Dynamic billing enables clients to take corrective action sooner than it would otherwise be taken and/or provides an automated mechanism or prompt for clients to take such action on an ongoing basis. For example, in certain embodiments, the disclosed technology computes adjusted premiums and allows the policy owner to be billed the amount required to keep his/her policy on track with his/her current insurance policy objectives.

Abstract: The disclosed technology relates generally to a method and system for assessing the eligibility of a customer to receive insurance from a provider. In certain embodiments, the disclosed technology uses a risk order approach to rank applicants based on mortality. Applicants are evaluated based on the impact a variety of metrics have on mortality and the system determines a recommended risk class and policy terms for each applicant. The system, in certain embodiments, provides a modular underwriting platform that is expandable and able to incorporate several underwriting tools (e.g., lab scores, market view data). The modular structure of the platform enables the system to be adjusted such that the approach may be modified for use in new insurance markets. In certain implementations, the system provides the ability to make slight adjustments to allow for preferred class distinctions in a simplified issue context.