Life insurance companies often deal with contracts that are long term. This increases the complexity of holding and maintaining the information for longer duration. During a lifecycle, policy insurers go through a sea of change in requirements, regulations, technologies and market conditions. Life insurance companies need business assurance to manage this change without effecting the service commitments to the policy holders, distribution channel, regulatory bodies and other key stakeholders. When it comes to technology,life insurers always juggle with several applications on various platforms written in ever-changing programming languages. This creates a need for integration between these disparate solutions like Underwriting, Claims Management, Policy Servicing, Agency Management, Financial Management, Investment Management systems and Valuation. Thinksoft’s domain-focused methods effectively address some of the key testing challenges of the life insurance business Ensuring accuracy in complex fund growth projections shown in sales illustrations provided by life insurers 100% coverage and accuracy in calculations determining premium rates, surrender values, paid-up values, dividends, bonus (reversionary and terminal) Designing complex business scenarios where policies need ageing tests involving non-forfeiture options (NF), Automatic Premium Loans (APL), Extended Term Insurance (ETI), lapses, revivals, reinstatements and cancellation ab-initio. Reconciling general ledgers with subsidiary ledgers – SL- GL Reconciliation Handling complex calculations of net liability for valuation purposes We aim in helping insurance companies in addressing the above challenges. Our team of insurance certified professionals, domain experts, and techno functionalists who have an in depth understanding of life insurance and annuity business are also equipped with Comprehensive life insurance test repository Ready to use generic life and annuity business processes Test artifact generator based on model based testing Risk prioritization matrix specific to insurance business. Test automation framework

Property and casualty insurers today face a host of unprecedented challenges. These range from increased frequency of catastrophic losses with consequent large payouts, to changes in regulatory controls resulting in reassessment of their operating parameters.  Confronted with price sensitive customers, high service expectations, evolving social media, competition from other insurers, shrinking geographies and increasing regulatory requirements, property and casualty insurers today are more dependent on technology than before. Propertyandcasualty insurers need flexible application architecture which supports automated underwriting, cover note management system, policy rating, policy issuance, mid-term adjustments, mid-term cancellations and renewals apart from claim handling. Highly volatile market conditions needs effective and highly customized rating engine which not only supports multiple rating factors but also can help launch new insurance products within a short span. Thinksoft’s insurance centre of excellence can ably support insurance companies in their IT initiatives. Teams consist of underwriters, claim handlers and trained testers experienced across multiple lines of business ranging from automobile, marine andproperty to liability lines, who create end-to-end business scenarios. 100 % coverage assurance across all modules and all insurance functionalities Specialization in testing the various touch points due to integration of core insurance application to BPM applications, reporting tools and financials including GLs With most insurers opting for auto underwriting and straight through processing for policy and claims, rigorous domain understanding is required in testing as technology is to optimize productivity and enhance user experience. Commercial insurances today are open to risks at multiple nodes as even isolated incidents can have global impact and hence dynamic applications have to be built and customized based on the insurers’ appetite for risk. Testing reinsurance including set up of RI treaty arrangements for proportional, non-proportional and facultative support as well as handling direct and retrocession arrangements. With the fast pace of technology, customers today would prefer renewing a policy or intimating a claim at their finger tips, through their mobiles. Integration of legacy applications with the various underwriting and claims tools sourced from multiple vendors is a major challenge with the advent of android and other mobile applications. Our pool of domain specialists and experienced testers has successfully handled projects involving leading core applications and ancillary systems. Our property and casualtytest workbench consists of Reusable test repository for all insurance processes and sub processes Proprietary test design accelerators Risk prioritization matrix Test automation framework