Insurance Validation and Testing Practice
Volatility in the stock market and low interest rates decrease capital gains and investment income of insurance companies. The shift in demand from market indexed instruments and products to fixed income products - coupled with the emergence of new self-service distribution channels - makes it imperative for insurance companies to introduce new products and modify or upgrade existing products. It requires undertaking system-based integration with business partners and clients for faster response and enhanced service. In addition, the stringent implementation of regulatory stipulations by supervisory bodies affects the IT operations of an organization.
Infosys' Insurance Validation and Testing Practice leverages solutions and frameworks customized for the insurance industry. Our testing frameworks for client organizations have been recognized as an industry best practice by Celent, a research and advisory firm.
Infosys' Insurance Testing Center of Excellence (TCoE) addresses all aspects of testing such as knowledge management, metrics, tools capability, process capability and people capability. Proprietary accelerators such as Infosys Domain Enabled Accelerators (IDEA), process mapping tools such as InFlux and a vast repository of reusable Life Insurance and Property & Casualty (P&C) Insurance test cases, help develop models for common Life Insurance and P&C Insurance processes. It ensures total test coverage while reducing time-to-market. Our domain experts, certified in LOMA and AICPCU, help reduce the time required to ramp up our team at short notice.
Infosys' Insurance Validation and Testing Practice has proven experience in helping Fortune 500 insurance companies to -
- Lower Total Cost of Ownership
- Mitigate risks during the launch of new products
- Meet regulatory mandates
- Achieve a higher degree of customer-orientation
- Enhance operational efficiency
- Ensure availability of applications and business continuity
- Re-engineer legacy applications to provide services through multiple channels
Learn more about our offerings for the insurance industry and our other testing services and solutions