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The Insurance industry is on the cusp of a major transformation, adopting new-age technologies at a lightning speed. These technologies, be it digital, telematics or analytics, are applied across the value chain, including marketing, distribution, customer service & pricing. It has therefore become imperative for Insurance companies to have a smart ecosystem to stay ahead of the competition. While it’s become essential to build an advanced ecosystem from the CRM and policy administration from claims & reinsurance, it has also introduced new challenges to meet the margins and custom needs of consumers, with enhanced speed & quality.

At LTI, we offer end-to-end solutions, which catalyze speed & quality with respect to digital, data analytics and customer experience. Our dedicated Insurance Testing CoE, powered by certified resources in Dip CII, AINS 21, AINS 22, AINS 23 & AINS 24 ensures:

  • Business aligned Test Consulting and Assurance services
  • Enhancement of the Insurance Digital landscape
  • Shift Left alignment and improving the coverage through BA-QA model
  • Insurance-specific capability development

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Highlights

  • Comprehensive business assurance across Business Aggregation, Agency, Billing, Policy Administration systems, Claims, Reinsurance and Finance.
  • Ready-to-use business scenario repository, to improve the release-wise test coverage.
  • LTI Data Assurance platform for underwriting, claims, back office and MIS applications.
  • Leading COTs product competency framework, with reusable scenarios.
  • Policy documents and forms comparison utility, to ensure data quality and correctness.
  • Automated identification manuscript changes and functional impact on Duck Creek.
  • Automated validation of application rating algorithm, as well as the ISO published rates implementation.
  • Enhanced custom-based rating and forms validation.
  • Technology currency migration assurance for platform enhancements and M&A.

Key Benefits

  • Accelerated test case design and release-wise test case check.
  • Assured test coverage.
  • Improved test productivity by ~40%, while enhancing maintainability.
  • Risk-based test plan, saving around 40-60% regression efforts.
  • Enhanced customer experience.

Lines of Business

PAS

PAS

Ready-to-use business scenarios, ensuring the optimum coverage for PAS transaction workflows, including new business, renewals, endorsements, cancellations & reinstatements.

Underwriting

Underwriting

Automated premium validations, adhering to the ISO rates & other region-specific rating standards, for accurate & accelerated underwriting.

Billing

Billing

Seamless transactions across the billing process, while ensuring E2E quality checks at various payment gateways, card applications, third-party products and across the digital channels.

Claims

Claims

A comprehensive Assurance solution for PAS, incorporating business logic and encompassing the external interfaces, along with the most intricate parts of the IT system.

Reporting & Analytics

Reporting & Analytics

Accurate analytics logics, with huge volumes of data, for better insurance product designing & accurate decision-making.