WO2018232492A1

WO2018232492A1 - Group insurance package customization system

Info

Publication number: WO2018232492A1
Application number: PCT/CA2018/000127
Authority: WO
Inventors: Zack Fuerstenberg; Adam GABRIEL; Yaniv Nathan; Gary SHEW
Original assignee: The Bank Of Nova Scotia
Priority date: 2017-06-21
Filing date: 2018-06-21
Publication date: 2018-12-27
Also published as: CA3068404A1

Abstract

A system for customizing group insurance packages includes a server and client computing devices connected via a network. The server accepts personal information for a customer and data relating to holdings associated with the customer and generates one or more group insurance packages tailored to the customer. The group insurance packages are presented to the customer. The customer can customize the group insurance package and update the price and related discounts.

Description

GROUP INSURANCE PRESENTATION SYSTEM AND METHOD

CROSS-REFERENCE TO RELATED APPLICATIONS

[0001] This application claims priority to U.S. Provisional Patent Application No.

62/522,990, entitled "Group Insurance Package Customization System", filed on June 21 , 2017, the contents of which are incorporated by reference herein in their entirety.

FIELD

[0002] This relates to insurance products, and in particular to systems and methods for generating and presenting customized group insurance packages.

BACKGROUND

[0003] Many types of insurance products exist, and provide financial protection against a variety of undesirable and/or unforeseen outcomes. Creditor insurance may be useful when an individual has taken on a debt obligation (e.g. a mortgage, auto loan, or the like). A creditor insurance policy may pay off an outstanding credit balance or make payments in a variety of circumstances. Creditor insurance may include a combination of life insurance, critical illness insurance, disability insurance, job loss or other insurance products.

[0004] Financial institutions may allow individuals who have taken on or are applying for a mortgage or other debt obligation to enroll in a group insurance package. Such group insurance packages are typically one-size-fits-all, and generally treat each customer equally, regardless of a customer's particular circumstances outside of factors such as age and the amount of the mortgage. Such group insurance packages are not tailored to a particular individual or entity. As such, a customer may decline to enroll in a one-size-fits-all group insurance package from a financial institution because it may not adequately meet their needs.

[0005] Furthermore, in various jurisdictions, various banking and insurance statutes and regulations may prevent financial institutions from recommending or advising on an insurance package (for example, in some jurisdictions, only certain parties are authorized to make recommendations to a customer). [0006] Group insurance products may be a source of revenue for a financial institution.

It would be desirable to increase the number of customers who enroll for group insurance policies with financial institutions.

SUMMARY

[0007] According to an aspect, there is provided a method for presenting group insurance package permutations to a customer, the method comprising: receiving personal information related to one or more customers; receiving data pertaining to at least one holding associated with at least one of the one or more customers; determining at least one group insurance package based on the personal information and the at least one holding; and displaying a user interface on a display device, the user interface including at least one of the group insurance packages.

[0008] In some embodiments, the method further comprises after presenting the at least one of the group insurance packages, logging customer activity in the database.

[0009] In some embodiments, the method further comprises determining an additional group insurance package suitable for the customer based on the customer activity.

[0010] In some embodiments, the method further comprises determining an additional group insurance package suitable for the customer based on observed performance metrics relative to target performance metrics.

[001 1] In some embodiments, the personal information comprises one or more of a name of the customer, an age of the customer, a location of the customer, an income of the customer, and a marital status of the customer.

[0012] In some embodiments, the at least one holding comprises one or more of life insurance, disability insurance, critical illness insurance, and job loss insurance.

[0013] In some embodiments, the group insurance packages comprise one or more of life insurance, critical illness insurance, disability insurance, and job loss insurance.

[0014] In some embodiments, the user interface further includes a discounted price associated with at least one of the group insurance packages. [0015] In some embodiments, the method further comprises accepting inputs from the customer to customize one or more of the displayed group insurance packages.

[0016] In some embodiments, the method further comprises updating at least one of a discounted price and a total cost for a customized group insurance package.

[0017] In some embodiments, the customer comprises at least two individuals.

[0018] In some embodiments, the user interface is configured to accept inputs from the customer for selecting a percentage of one or more of the life insurance, critical illness insurance, disability insurance, and job loss insurance.

[0019] In some embodiments, the method further comprises enrolling the customer in one of the group insurance packages.

[0020] In some embodiments, determining the at least one group insurance package comprises using a classifier model to identify insurance options tailored to the customer.

[0021] According to another aspect, there is provided a group insurance package generation system for generating and presenting group insurance packages, the system comprising: a server having a storage device, said server configured to communicate to communicate with client computing devices by way of a network; a database stored on said storage device, said database comprising records associated with one or more customers; a processor at said server configured under control of software to: receive personal information relating to one or more customers; receive data pertaining to at least one holding associated with at least one of the one or more customers; determine at least one group insurance package for the one or more customers based on the personal information and the holdings; and display, at one or more of the client devices, at least one of the group insurance packages.

BRIEF DESCRIPTION OF DRAWINGS

[0022] In the Figures, which depict example embodiments:

[0023] FIG. 1 is a schematic diagram of a group insurance package generation system;

[0024] FIG. 2 is a block diagram of a server of the system of FIG. 1 ;

[0025] FIG. 3 is a block diagram of software at the server of FIG. 2; [0026] FIG. 4 is a flow chart of an example method of generating group insurance packages for presentation on a client computing device;

[0027] FIG. 5 depicts a coverage analysis interface rendered on a display of a client computing device;

[0028] FIG. 6 depicts an example bundle illustration interface rendered on a display of a client computing device; and

[0029] FIG. 7 depicts an example customization interface rendered on a display of a client computing device.

DETAILED DESCRIPTION

[0030] FIG. 1 depicts an example computing system. Components of the computing system are interconnected to define a group insurance package generation system 100. As used herein, the term group insurance package generation system refers to a combination of hardware devices configured under control of software, and interconnections between such devices and software.

[0031] As depicted, group insurance package generation system 100 includes at least one server 102 with a data storage 104 such as a hard drive, array of hard drives, network- accessible storage or the like; at least one web server 106 and a plurality of client computing devices 108. Server 102, web server 106 and client computing devices 108 are in

communication by way of a network 1 10. More or fewer of each device are possible relative to the example configuration depicted in FIG. 1 .

[0032] The network 1 10 may include one or more local-area networks or wide-area networks, such as IPv4, IPv6, X.25, IPX compliant or similar networks, including one or more wired or wireless access points. The networks may include one or more local-area networks (LANs) or wide-area networks (WANs), such as the internet. In some embodiments, the networks are connected with other communications networks, such as GSM/GPRS/3G/4G/LTE networks.

[0033] As shown, server 102 and web server 106 are separate machines, which may be at different physical or geographical locations. However, server 102 and web server 106 may alternatively be implemented in a single physical device. [0034] As will be described in further detail, server 102 may be connected to a data storage 104, which may include records containing information associated with a customer. Such additional information may include, for example, the gender of the customer, the profession of the customer, the outstanding balance on a mortgage associated with the customer, the term of the mortgage, a location of the property to which the mortgage is tied, the interest rate associated with the mortgage, as well as other information. In some embodiments, such details about the customer may be known from previous applications or documentation provided by the customer to the financial institution (for example, when applying for a mortgage or previous service or loan).

[0035] Web server 106 hosts a website accessible by client computing devices 108.

Web server 106 is further operable to exchange data with server 102 such that data associated with a customer's existing holdings can be retrieved from server 102 and displayed on the website, or entered by way of the website and transmitted to server 102 for storage.

[0036] Server 102 and web server 106 may be based on Microsoft Windows, Linux or other suitable operating systems.

[0037] Client computing devices 108 may be, for example, personal computers, smartphones, tablet computers, or the like, and may be based on any suitable operating system, such as Microsoft Windows, Apple OS X or iOS, Linux, Android, or the like. In some embodiments, client computing devices 108 may be associated with one or more of a customer, a mortgage broker, an internal mortgage broker, a field mortgage broker, a financial advisor, or other parties.

[0038] FIG. 2 is a block diagram of components of an example server 102, 106 or client computing device 108. As depicted, each server 102, 106 and client computing device 108 includes a processor 1 14, memory 1 16, persistent storage 1 18, network interface 120 and input/output interface 122.

[0039] Processor 1 14 may be an Intel or AMD x86 or x64, PowerPC, ARM processor, or the like. Processor 1 14 may operate under control of software loaded in memory 1 16. Network interface 120 connects server 102, 106 or client computing device 108 to network 1 10. I/O interface 122 connects server 102, 106 or client computing device 108 to one or more storage devices (e.g. storage 104) and peripherals such as keyboards, mice, USB devices, disc drives, and the like. [0040] Software may be loaded onto server 102, 106 or client computing device 108 from peripheral devices or from network 106. Such software may be executed using processor 1 14.

[0041] FIG. 3 depicts a simplified arrangement of software at a server 102 or client computing device 108. The software may include an operating system 124 and application software, such as insurance package generator system 126. Insurance package generator system 126 is configured to accept inputs which include customer information and customer holdings and output one or more group insurance packages which are tailored to the particular customer's circumstances. As noted above, group insurance is typically offered in a one-size- fits-all format. The one-size-fits-all group insurance might not be suitable for a particular customer's situation, which may result in the customer declining to enroll in the group insurance package.

[0042] The operation of some aspects of group insurance package generation system

100 is described in conjunction with FIG. 4. FIG. 4 is a flow chart of an example process 400 of generating group insurance packages for presentation to a user. Example process 400 may be performed when, for example, a customer or potential customer is applying for a mortgage (or other debt obligation, such as a loan). Process 400 may cause the presentation of one or more group insurance packages to the customer or potential customer while applying for the mortgage. Process 400 may also be used when a customer with an existing mortgage wishes to be presented with one or more group insurance packages of interest for the existing mortgage or an additional debt instrument (e.g. a second mortgage, auto loan, or the like).

[0043] At 402, server 102 receives customer information. In some embodiments, the customer information is received in response to prompting a client computing device 108 to display questions to the customer and the customer entering response data. In some embodiments, the customer information is received by asking questions to the customer and receiving answers. Said answers can be input to server 102 by the customer or another party, and can be input directly to server 102 or indirectly using a client computing device 108 and network 110.

[0044] In some embodiments, customer information includes the name of the person or entity, in addition to one or more of the following: age, marital status, number of children, location, the gender of the customer, whether the customer smokes, or the like. [0045] At 404, server 102 retrieves data pertaining to existing customer holdings. In some embodiments, the existing holdings are retrieved from a database 104 connected to server 02 using, for example, the name of the customer or other identifying information. In some embodiments, the existing holding information is received at server 102 from a client computing device 108 via network 1 10 in response to prompts requesting further information from the customer on a display of client computing device 108.

[0046] In some embodiments, the existing customer holdings include any of other life insurance, critical illness, disability, and job loss insurance policies already associated with the customer. For example, the customer's employer may provide life or long term disability insurance which is separate from any creditor insurance policy. In some embodiments, the existing holdings are associated with the same financial institution that is providing group insurance package generation system 100. As such, it may be possible for the customer's existing holdings to be retrieved automatically from database 104. In some embodiments, existing holdings are not accessible from database 104, and it may be necessary to obtain information about any existing holdings from the customer.

[0047] In some embodiments, the group insurance package generation system 100 may cause a user interface to be displayed on a display of client device 108 for presentation to the customer. FIG. 5 depicts an example interface presented at a client device 108 by web server 106.

[0048] FIG. 5 depicts a coverage analysis interface 502, rendered on a display of client computing device 108. The coverage analysis interface 502 includes a plurality of fields for accepting inputs from the customer regarding existing insurance coverage. As depicted, the fields include life insurance 504, critical illness 506, and disability 508. Other fields are contemplated, for example a field for job loss insurance. Coverage analysis 502 further includes fields for the marital status 510 and number of children 512 of the customer. In some embodiments, coverage analysis 502 provides a graphical illustration of the degree to which the customer's existing insurance covers their needs at 514, 516 and 518. As depicted, the customer either has or is applying for a mortgage of $500,000, but the systems and methods disclosed herein may be applied to debt instruments other than mortgages (e.g. auto loans, business loans, or the like). [0049] Once the customer information and existing holding information has been received, one or more group insurance packages are created at 406. In some embodiments, the group insurance packages are created by insurance package generator system 126 running on server 102. The group insurance packages are generated based on insurance packages which are determined to be most likely to be of interest to an individual with similar characteristics to the customer. For example, a customer located in a certain area of a province or state may be less likely to wish to purchase certain types of insurance. According to some embodiments, the systems and methods described herein present group insurance packages to the customer which are tailored to the customer.

[0050] The package generator system 126 may operate in many different ways. The starting point for the package generator system 126 is the collection of as many details related to the customer as possible. Based on the collected information, package generator system 126 may identify a form of coverage which is lacking or already adequately covered by the customer's existing holdings. For example, a customer with an outstanding mortgage balance of $500,000 and a life insurance policy for $1 ,000,000 through their employer may be deemed by package generator system 26 to have adequate life insurance and thus additional life insurance coverage may not be included in the generated group packages.

[0051 ] The package generator system 126 may also operate using a classifier model.

Classifier models are useful in predicting an outcome based on a number of variables.

Generally, as the amount of available information increases for the variables, the classifier may become more accurate in predicting an outcome. In some embodiments, the financial institution operating the group insurance package generation system 100 may already have access to data regarding existing customers that have already enrolled in a group insurance package. The existing data may be used as training data for training a classifier which can be executed using processor 102 of server 104. In some embodiments, the classifier may be trained using machine learning methods, including but not limited to supervised learning using existing enrolled customers as a training data set.

[0052] In some embodiments, the package generator system 126 generates packages which include each of life insurance, critical illness insurance, disability insurance, job loss and/or other insurance products. In some embodiments, the package generator system 126 generates packages which are permutations that include one or more of the aforementioned forms of insurance. In some embodiments, the package generator system 126 generates group insurance packages which provide partial coverage for a type of insurance. For example, if a customer has a $500,000 balance on a mortgage, and has a $250,000 life insurance policy through their employer, package generation system may generate a package which includes an additional $250,000 in life insurance, rather than the full $500,000 balance. Such a package may be associated with lower premiums, and may result in a customer being more likely to enroll in the less expensive package. Moreover, package generator system 126 may also determine a bundling discount associated with a particular group package.

[0053] Once the one or more group packages have been created, one of more of the packages are presented to the customer at 408. FIG. 6 depicts an example interface presented at a client device 108 by web server 106.

[0054] FIG. 6 depicts an example bundle illustration interface 602, rendered on a display of client computing device 108. The bundle illustration interface 602 presents a number of group insurance package options. In some embodiments, the group insurance package options are tailored to the customer. As depicted, four insurance package options are illustrated (complete 604, enhanced 606, basic 608, and unprotected 610). It will be appreciated that the number of options presented on client computing device 108 can alternatively be lower than four or greater than four.

[0055] For each of packages 604, 606, 608, 610, the bundle illustration lists the component contents of the group insurance bundle. As shown in FIG. 6, the bundle illustration lists whether each package includes life insurance 612, critical illness insurance 614, and disability insurance 616 (denoted by the presence of a checkmark in the column for each of the presented insurance packages). It should be noted that additional components may be listed (e.g. job loss insurance). In addition, bundle illustration 602 may include a listing of the discount associated with each displayed group insurance package. For example, as depicted in FIG. 6, group insurance package 604 includes each of life, critical illness, and disability insurance, and the combination of these three types of insurance trigger a discount of 15% for the customer relative to regular rates.

[0056] As depicted, for each package, bundle illustration 602 further includes monthly costs associated with the mortgage payment 620, protection package 622, a per-day cost of protection 624, and total payment 626. It should be noted that the cost figures in FIG. 6 are merely examples. [0057] It should be noted that in some embodiments, the generated group insurance packages are not "recommendations", nor do they constitute "advice" on insurance. In order to comply with statutes and regulations in various jurisdictions, in some embodiments, the generated group insurance packages are presented to the user as being merely of interest, without any accompanying language to the effect that such group insurance packages are recommended. The customer may ultimately choose to enroll in a presented group insurance package, but the presentation of such packages on client computing device 108 is merely for the customer's information.

[0058] At 410, the customer provides input in response to being presented with the group insurance packages. As depicted in FIG. 6, the customer can make an input in the form of a selection of one of radio buttons 628, 630, 632, 634, which correspond to packages 604, 606, 608 and 610, respectively. It should be appreciated that radio button 634 corresponds to package 610, which does not include any insurance, and so a selection of radio button 634 connotes that the customer does not wish to enroll in any of the presented group insurance packages.

[0059] When the customer enters an input at 410, client computing device 108 is configured to record one or more customer inputs. The customer's selection is then transmitted to server 102, where the package generation algorithm in insurance package generator system 126 may be updated and refined at 412. For example, machine learning techniques such as supervised learning may be used to refine the algorithm. In particular, the input provided by the customer at 410 can be used as part of a training data set for a supervised learning classifier. Thus, in the case of the customer choosing not to enroll in any group insurance package, the options presented and the outcome can be added to a negative bag. Likewise, should the customer choose to enroll in one of the group insurance packages displayed, the classifier model can be refined on that basis as well. As the amount of training data increases, the package generator system 126 may improve the rate at which customers with similar characteristics (e.g. age, marital status, location, mortgage amount, other insurance coverage, and the like) choose to enroll in presented group insurance packages.

[0060] The customer input at 410 may also include the selection of the "customize" button 636. Selecting customize button 636 allows the customer to specifically tailor a group insurance package if the customer does not wish to enroll in any of the presented group insurance packages (e.g. as shown in FIG. 6). FIG. 7 depicts an example interface presented at a client device 108 by web server 106.

[0061] FIG. 7 depicts an example customization interface 702, rendered on a display of client computing device 108. In the customization interface 702, the customer can select any combination of life insurance 706, critical illness insurance 708 and disability insurance 710. In some embodiments, the customer may also select job loss insurance. The customer may make any number of modifications, and may then calculate the new cost of the modified group insurance policy by selecting a Calculate button (not shown). In some embodiments, the displayed cost associated with the customized group insurance policy automatically updates each time the customer makes a customization. As depicted, the customer can also customize insurance policies for more than one entity 712, 714 associated with the mortgage (for example, when there are multiple borrowers and/or guarantors) to obtain additional bundling discounts. Once calculated, the various costs and discounts associated with the modified group insurance package are displayed at 716. In some embodiments, modifying a group insurance package may result in a discount being added or removed from the previously stated cost associated with the package. Customizing group insurance packages may allow a customer to identify a group insurance package which meets criteria specific to that customer (e.g. in terms of cost or coverage).

[0062] Returning to process 400, after the input has been received from the customer at

410 and the package generation algorithm has been updated, it is determined at 4 4 whether the customer elected to enroll in one of the presented group insurance packages. If the customer enrolled in a package, then the process ends at 418. If the customer did not elect to enroll in a presented package, it is then determined at 416 whether the customer made a customization. If the customer did not make a customization, this indicates that the user is not enrolling in any group insurance package, and the process ends at 418. If the customer makes a customization, the process returns to 406, where additional group insurance packages are generated and presented. In some embodiments, the customer may elect to enroll in a package directly from customization portal 702, rather than returning to the bundle illustration interface 602 be presented with more group insurance package options.

[0063] In some embodiments, the customer can customize the group insurance policy by selecting a portion of an insurance policy. For example, a customer may not wish to pay the premium for a full life insurance policy for the balance of a mortgage. In some embodiments, the group insurance package generation system 100 is configured to allow the customer to select a proportion or percentage of an insurance policy. For example, if a customer has or wants a $500,000 mortgage, system 100 can be configured to allow the customer to select a life insurance policy which covers half of the mortgage (e.g. $250,000). The capability of the system 100 to allow partial coverage may allow customers to enroll in group insurance packages from the financial institution which they consider to be more suitable to their needs than if the only option were a "one-size-fits-all" group policy (as is normally offered by financial institutions). Thus, some embodiments allow for the limitations of the "one-size-fits-all" group insurance policy to be overcome, by instead creating different versions of group insurance packages which are tailored for particular types of customers.

[0064] According to some embodiments, the group insurance package generation system 100 is evaluated on the basis of performance metrics. Performance metrics may include, for example, uptake, retention, applications and/or renewals, changes in price sensitivity, overall revenue uplift, and various other metrics. After a customer provides input as to whether or not they wish to enroll in a presented group insurance package, the package generation system 100 may analyze the performance metrics to determine whether the package generation system 100 is resulting in an improvement in performance metrics over previous metrics. In some embodiments, system 100 is configured to receive updates when a customer cancels their enrollment in a group insurance package. Thus, the classifier model may also be refined to reflect subsequent changes (if, for example, a customer enrolls in a presented group package and subsequently cancels the enrollment after a period of time).

[0065] It should be appreciated from the foregoing that the above-noted systems and methods may be implemented while maintaining compliance with various banking and insurance statutes and regulations. For example, system 100 might not be construed as "offering" group insurance packages to the customer. System 100 merely displays possible group insurance packages to the customer that may be of interest. Moreover, system 100 can be implemented without using any language characterizing such generated group insurance packages as being "recommended". As such, it may be possible to use system 100 in conjunction with a sales force which is not allowed to "advise on" or "recommend" insurance packages to customers. Since the group insurance packages are not being advised on or recommended by an employee, such activities may maintain compliance with local statutes and regulations in various jurisdictions. [0066] It should be further appreciated that the number of permutations and scenarios evaluated by the package generation algorithm in insurance package generator system 126 (in particular when variations in the portion or percentage of one or more insurance needs are considered) are such that it would be effectively impossible to consider each such permutation and determine whether that permutation would be most appropriate to present to a customer as a possible group insurance package. Moreover, if a human were to attempt to perform the methods described herein, the results would be variable and unpredictable. Such generated insurance packages may also take into consideration possible variations in interest rates. As such, the processing power required to evaluate various package permutations is substantial and prohibitive for manual operations. As such, the use of computerized components such as processors and memory is essential to the working of the present invention.

[0067] The embodiments of the devices, systems and methods described herein may be implemented in a combination of both hardware and software. These embodiments may be implemented on programmable computers, each computer including at least one processor, a data storage system (including volatile memory or non-volatile memory or other data storage elements or a combination thereof), and at least one communication interface.

[0068] Program code is applied to input data to perform the functions described herein and to generate output information. The output information is applied to one or more output devices, in some embodiments, the communication interface may be a network communication interface. In embodiments in which elements may be combined, the communication interface may be a software communication interface, such as those for inter-process communication. In still other embodiments, there may be a combination of communication interfaces implemented as hardware, software, and combination thereof.

[0069] The following discussion provides many example embodiments. Although each embodiment represents a single combination of inventive elements, other examples may include all possible combinations of the disclosed elements. Thus if one embodiment comprises elements A, B, and C, and a second embodiment comprises elements B and D, other remaining combinations of A, B, C, or D, may also be used.

[0070] The term "connected" or "coupled to" may include both direct coupling (in which two elements that are coupled to each other contact each other) and indirect coupling (in which at least one additional element is located between the two elements). [0071] The technical solution of embodiments may be at least partly in the form of a software product. The software product may be stored in a non-volatile or non-transitory storage medium, which can be a compact disk read-only memory (CD-ROM), a USB flash disk, or a removable hard disk. The software product includes a number of instructions that enable a computer device (personal computer, server, or network device) to execute the methods provided by the embodiments.

[0072] Although specific embodiments have been described in detail, it should be understood that various changes, substitutions and alterations can be made. The invention is therefore defined by the claims.

Claims

WHAT IS CLAIMED IS:

1. A method for presenting group insurance package permutations to a customer, the method comprising: receiving personal information related to one or more customers; receiving data pertaining to at least one holding associated with at least one of the one or more customers; determining at least one group insurance package based on the personal information and the at least one holding; and displaying a user interface on a display device, the user interface including at least one of the group insurance packages.

2. The method of claim 1 , further comprising: after presenting the at least one of the group insurance packages, logging customer activity in the database.

3. The method of claim 2, further comprising: determining an additional group insurance package suitable for the customer based on the customer activity.

4. The method of claim 2, further comprising: determining an additional group insurance package suitable for the customer based on observed performance metrics relative to target performance metrics.

5. The method of claim 1 , wherein the personal information comprises one or more of a name of the customer, an age of the customer, a location of the customer, an income of the customer, and a marital status of the customer.

6. The method of claim 1 , wherein the at least one holding comprises one or more of life insurance, disability insurance, critical illness insurance, and job loss insurance.

7. The method of claim 1 , wherein the group insurance packages comprise one or more of life insurance, critical illness insurance, disability insurance, and job loss insurance.

8. The method of claim 1 , wherein the user interface further includes a discounted price associated with at least one of the group insurance packages.

9. The method of claim 1 , further comprising: accepting inputs from the customer to customize one or more of the displayed group insurance packages.

10. The method of claim 9, further comprising: updating at least one of a discounted price and a total cost for a customized group insurance package.

1 1 . The method of claim 1 , wherein the customer comprises at least two individuals.

12. The method of claim 9, wherein the user interface is configured to accept inputs from the customer for selecting a percentage of one or more of the life insurance, critical illness insurance, disability insurance, and job loss insurance.

13. The method of claim 1 , further comprising enrolling the customer in one of the group insurance packages.

14. The method of claim 1 , wherein determining the at least one group insurance package comprises using a classifier model to identify insurance options tailored to the customer. 5. A group insurance package generation system for generating and presenting group insurance packages, the system comprising: a server having a storage device, said server configured to communicate to

communicate with client computing devices by way of a network; a database stored on said storage device, said database comprising records associated with one or more customers; a processor at said server configured under control of software to: receive personal information relating to one or more customers; receive data pertaining to at least one holding associated with at least one of the one or more customers; determine at least one group insurance package for the one or more customers based on the personal information and the holdings; and display, at one or more of the client devices, at least one of the group insurance packages.