Rates and Rules Testing

DELIVERING ACCURATE RATES AND PRECISE RULES

At Ingenuity, we specialise in comprehensive rates and rules testing to ensure your insurance products perform flawlessly. By validating every rate table, rule and calculation, we help deliver accurate, compliant and reliable solutions tailored to your business needs.

What is rates and rules testing?

Rates and rules testing ensures that insurance products calculate premiums accurately and apply underwriting criteria as intended. It involves validating every rate table, rule and calculation to ensure compliance with regulations and alignment with business requirements.

By thoroughly testing these elements, Ingenuity helps identify discrepancies, reduce errors and deliver reliable, high-quality insurance products that clients can trust. This critical process safeguards the integrity of your pricing and underwriting, providing confidence in your product's performance.

Ingenuity's testing services play an integral role in the process by which we build, adapt and maintain our products

Premier Underwriting

Benefits

How it works

Our Testing Approach

At Ingenuity, we follow a structured testing process tailored to meet each client's specific needs.

Defining the Testing Framework

We start by establishing a contract, including a tailored product list and test plan. This defines the scope of testing, the level of coverage required and the specific tests needed to validate each product or system, ensuring clear objectives from the outset.

Developing Detailed Test Plans

Our team creates comprehensive test plans by analysing each product's specifications. Test cases are carefully designed to check every rule and calculation, ensuring high-quality results through both manual and automated testing.

Executing Tests and Managing Reporting

Testing is executed in alignment with scheduled releases, using a combination of automated tools and manual processes. We maintain transparency through regular reporting, documenting issues and providing clients with detailed updates.

Continuous Improvement and Problem Resolution

As product specifications evolve, we update the test plans accordingly. Any issues are promptly logged, tracked and addressed, ensuring timely fixes and retesting to maintain the integrity of the product over time.

Performance

Case studies

FAQs

How do we access the systems?

We access the systems through a range of methods, from keeping fully fledged broker servers on site to using remote connections hosted by software providers. It all depends on what options are available and work best, but you can be sure Ingenuity always strive to have the best and most appropriate access for a given platform.

How do you charge for your services?

We have various ways of charging depending on the task in hand, whether it be a recurring fee for BAU tick over, taking a retainer to provide a certain number of days to be available as and when required, or one-off payments for specific projects. At any rate you can rely on us to be competitive for our services whilst maintaining the high standards we have become known for!

How much lead in time does Ingenuity need?

The simple answer is lead time very much depends on the job we are taking on – a simple testplan build and getting testing underway can be as little as a 4 week turnaround, whereas a full bespoke automation build will likely take longer – however we pride ourselves on being upfront on letting a client know what is feasible and in what timescales.

Do you keep test evidence?

Yes we do. The type of evidence varies depending on task. So for example, results from manual input are recorded digitally along with time stamped testplans. Automation results are kept in the output format from the automation, along with compare routines utilised in the analysis of the results. Quote prints and screen grabs when generated are all kept digitally. Any test evidence that happens to be paper format is kept for at least 5 years, however so much of our work is paperless these days, and digital results are never deleted.

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