Top 6 Factors Why Insurance Domain App Testing Is Important

Today, insurance companies are shifting their focus of IT investments from “business as normal” to legacy apps’ transformation, particularly making refinement in their business processes to boost customer loyalty and effectively meet the needs of new distribution channels. Due to the adoption of Agile development methodologies in the companies, software complexity is also increasing.

Moreover, companies today embrace newer technologies to build mobile and cloud-based solutions that also increase the work pressure in the software testing company to make those solutions or products completely bug-free and quality-made before launching to the market.  Worldwide insurers in countries like US (All State, State Farm Group, Berkshire Hathaway Inc), UK (Aon, Aviva, Zurich Insurance Group ), Europe (Axa, Allianz), Australia (IAG, TAL life Limited) are highly investing in modern insurance technologies due to the improvement in customer retention and reduction in costs. Bringing digital transformation in insurance sector has become the most disruptive factor for companies. 

Nowadays, all insurers are dependent on the best software testing company for their quality assurance services because customers need more flexibility, transparency, and mobility from the insurance parties to meet their unique requirements. Similarly, insurers are making much effort to work as per industry regulations, and they take help from the provider of software testing services to test and manage their front and back-office operations successfully.   

In our 24/7 demanding world, effective testing is crucial to increase user adoption for business applications. Yet for insurers, it becomes imperative to hire certified test professionals rather than relying on the incompetent software testing company because when it comes to test the software or an application using newer technologies and reduce the complexity of systems, one needs to hire a reliable QA tester for Insurance domain testing.   

After choosing the best software testing company for insurance testing services, you can ensure that your insurance domain will work perfectly. The main benefit of choosing the industry experts is that they can help you get comprehensive insurance testing services for life (annuity and pension), property & casualty, and auto & health insurance throughout the full software testing lifecycle. In addition, you can assess, execute, and manage your insurance-based domain or software from the company and give your policyholders quality-assured digital assistance.      

Top 6 Factors Why Software Testing Matters for Insurance Companies

If you are in the insurance enterprise, you may surely deal with the billing process, claims processing, data warehouses, including risk analysis, security, accuracy, scalability of online insurance software. Apart from that, you also manage core operations of your insurance domain, such as quote generation, policy processing, renewals, endorsements, and cancellation. At this point, you also make many efforts to retain your customers and approach them to choose any policy plan from your insurance company. However, in case of providing a poor customer experience, you can get behind in the competition.   

Glitches like the generation of fault policy documents, passing on non-competitive rates to the clients, and delays in claim processing can result in a substantial financial loss and down your business brand image. Therefore, it is always recommended for insurance firms to invest safely in the development and modern-based IT infrastructure.

Other than that, specialized software testing services are also advisable to insurance companies to successfully run all the domain functions. When choosing the highly experienced software testing company for insurance domain testing, one can easily manage various software systems such as managing customer data, developing standard policy forms, handling billing processes, coordinating between branches, and rendering quality services to customers.  The best software testing company has not only a certified team of insurance domain testers, but also their experts have industry-specific certifications like ANSI, LOMA, CPCU in Life and Non-Life Insurance Domains.   

In brief, you can check the following factors that make your mind while choosing the company for insurance domain application testing and quality assurance services.   

1. Complex Business Rules & Workflows   

The majority of insurance companies have an enterprise-level of software solution to perform their core business operations, from the policy management system to the transaction management system. For the policy management system, it is necessary for insurance companies to allow the users to create quotes and convert those quotes to policies.   

Similarly, allowing users to pay online for insurance policies and make other online transactions has become vital for companies because an effective transaction processing system supports customers/users to obtain a level of confidence and reliability during transactions. On the other hand, the TPS helps businesses minimize the chances of error during different data transactions and guarantee that the software will meet all their expectations.  

For insurance companies, it is essential to hire QA testers because they have deep knowledge of the insurance domain and know how to tackle complex business rules and workflows. The certified QA expert can test all the functions in the application without any hassle and guarantee that from policy admin, billing and collection, underwriting, claims, to other necessary operations, will work properly. The service providers of quality testing services can assure that all the information in the software will update effectively through the front end and store efficiently in the database or back-end. With quality-based insurance domain application testing, you can fetch the required information in your system without displaying an error on the data source or front-end. 

Explore our different range of offerings in mobile testing services.

2. Poor Performance   

When investing in the wrong vendor for building the Insurance software, the customers of most insurance firms face poor performance issues. As a result, insurance industries experience less ROI and a bad reputation in the business.   

Thus, whenever you decide to make an app for the insurance sector, always take end-to-end performance testing to handle the activities of property insurance, claim processing, health insurance, pensions, life & re-insurance.   

With performance testing that includes load testing, stress testing, volume testing, endurance testing, reliability testing, scalability testing, you can ensure that all the large new insurance core systems will perform well, such as claims or underwriting, and help your users get the highly-accurate, stable, and speedy performance of the software. The best part is companies also perform regulatory testing based on particular geographies, including Federal Regulation of Insurance, Insurance Regulatory System, IFRS17, and NAIC so that you can validate that all features of your system are working as intended, and it will help you keep your users happy and fully-satisfied.  

Testing such applications is a big challenge for the software testing company because QAs are not aware of the solution architecture. Also, in many cases, the documentation for these legacy systems is insufficient or missing. Thus, it is vital for testers as well to have proper knowledge of the detailed architecture of the backend software solution from several available sources (individual or artifact) and know how different downstream systems interact with each other.  

3. Quotes Generation   

Insurance agents always stay under pressure to generate instant quotes for their clients within the application. In case of delaying while creating quotes, insurance agents fail to interact with their potential customers and face difficulty while competing with their competitors.   

Insurers fail to meet the changing expectations of customers and even face several challenges when it comes to generating huge ROI from products and services. One of the biggest challenges for insurers is to adopt the legacy IT systems with its architectures that help run digital-based business models. Furthermore, this challenge put them in difficulty while creating the digital-fit customer experience with new front-end architecture.   

Therefore, it is crucial to consider test automation for insurance domain testing, as it helps testers reduce testing cycle time, improve productivity, increase quality and predictability, and eventually help insurers save a lot from insurance systems. There is no doubt that insurance applications are very complex in nature. Yet, even after growing complexity in insurance applications, automation ensures to improve test effectiveness across multiple devices, environments, and channels. SMEs and BAs perform the automation that are experts in managing end-to-end policy life cycle and completely understand how to deliver high-quality solutions to insurers and their customers.   

4. Fully-Customization  

Customization is the new normal in the 21st century. Hence, it is requisite to make the application fully customized, and it is a great business strategy to make customers always happy and repeatable for the specific platform.   

Customization increases customer satisfaction, customer loyalty, customer trust, and even promises to deliver quality services to customers. The QA company uses a customized and collaborative approach in the Test Center of Excellence to source software testing and quality assurance services.   

The software testing company offers the right model to standardize best test practices, metrics, and mythologies across the testing organization. This solution helps insurers to conduct testing faster and meet new development and business objectives.   

5. Lack of Security   

Online crimes are increasing day by day because most customers feel comfortable while getting online services from the insurance sectors, but they are not much aware of cybercrime. Ransomware attacks are very common in the insurance field and are needed to stop with safety measures or security testing. Otherwise, your company can experience a severe loss in the business.   

The software testing company offers security testing services for the insurance domain to protect the application from cybercriminals. With security testing, you can identify the design and architecture of your application and avoid as many risks to secure your customer journey.   

The experts of the insurance domain testing perform network-based pen testing to ensure that your users’ data will never leak while operating any activity online. Moreover, you can make all insurance channels extremely safe if you have cloud-based applications.   

6. Complex Databases   

The insurance app’s modules use a common database that makes it challenging to locate an object in the specific data and make multiple calls from different data tables. Poor documentation also creates a significant challenge to testers while performing back-end testing. To deal with complex databases, the testing team should have good knowledge of database testing to manage insert, delete, update, and manage complex queries. They should be able to fetch the required data and conduct the necessary tests.   

Test data and testing data-centric apps are essential for data warehousing and BI experts due to the opportunity to get better insights for claims departments and the underwriting process. In addition, the data-centric testing allows them to migrate existing data from a new insurance application. Software testing companies also perform data masking or encryption activities to secure sensitive data and manage regulatory needs. This process also ensures that large chunks of data are very well tested to increase the speed and quality of an insurance application.   

Conclusion  

The insurance industry has partnered with several lines of businesses, and each one has a separate set of applications and requirements. The domain expertise is needed from an end-to-end perspective, and it also ensures to insurance firms that the software is fully functional, robust, secure, and scalable. Whether you are dealing with policy administration systems, claim management systems, investment management systems, distribution management systems, investment management systems, third-party administration solutions, risk management, regulatory and compliance, or actuarial systems, software testing plays a lead role in all branches of the insurance company. It helps you address the business risks during and after the deployment of software.   

Are you planning to hire the best software testing company in India for insurance domain applications testing? Consult with us. At BugRaptors, we have one of the largest worldwide testing practices with over 250 certified testing professionals to help you get software testing and QA services for your insurance domain.

With over five years of experience delivering software testing services using a global delivery model, BugRaptors has various tools, methodologies, accelerators to support your testing requirements. Our software testers have many years of domain experience and test customized solutions and common life insurance applications. We ensure to give you quality-based testing for different types of insurance and help you run your business safely and successfully.  

Related Read: How Critical Is Software Testing For Insurance Domain?