SYSTEMS AND METHODS FOR BUILDING AND EXECUTING INSURANCE CONTRACTS

A computerized system having a graphical user interface (GUI) to enable configurations of desirable insurance products via manipulations of interactive elements. In one aspect, the insurance clauses in a given insurance contract may be parameterized and reorganized to build units of coverage that may be evaluated against existing policies or risk data to determine the price and variability of the unit. The configured product may be evaluated in response to human input or other events to compute pricing, underwriting eligibility or adjudication of a claim against coverage in the policy. These units further expose data of the insurance clauses as visual blocks via the GUI while not requiring the users to code these clauses. In addition, embodiments provide a visual intuitive method for displaying insurance clauses relating to and facilitating configuration of an insurance product with digital, rules based, real-time computation of insurability, price and claims adjudication.