A new business model incorporating the advantages of endowing a remote field agent with sole discretion to legally bind an insurance carrier to a renewal insurance policy contract is provided. Policy data associated with eligible renewal policies is generated according to specified criteria on a periodic basis. The policy data relating to a given policy subscriber is transmitted over the Internet to a data memory of a remote computer, where a field agent updates the policy data, as necessary, with new information gained about the policy subscriber. The field agent legally binds an insurance carrier to a resulting renewal policy reflecting the evaluated policy data, where the binding step is accomplished by the field agent acting independently without prior underwriting analysis, rating, or authorization by the insurance carrier, and where the entire transaction is accomplished in not more than five minutes.