Technology trends and digital disruption is transforming the insurance industry immensely. Thus, insurers have been feeling distressed and pressurized to digitize their workflow, and also streamline business processes. These disruptions have been challenging the traditional ways by which the insurance agents and brokers have done business in the past.

Contents 1. Top Technology Trends Transforming the Insurance Industry 2. Cloud-based Infrastructure 3. Leveraging Big Data and Analytics 4. Use of Artificial Intelligence (AI) 5. Conclusion

The insurance industry is executing a modernized workflow, which demands a considerable expansion in the use of technology and that can only be managed by means of hybrid and on-premise cloud infrastructure. The cloud-based infrastructure is guaranteeing flexibility to clients. Besides, it is also helping the insurance sector to comply with the evolving regulatory standards within the industry.

The current application driven economy is all about data. Insurance is an industry that is data-driven which produces huge amounts of structured and unstructured data. Thus, insurance companies are relying on the Internet of Things (IOT) to gather more and more data relating to the behavior of their clients. On the other hand, Big Data and Analytics help insurers take important decisions based on the analysis of gathered data.

Gartner, Inc. forecasts that “8.4 billion connected things will be in use worldwide in 2017, up 31 percent from 2016, and will reach 20.4 billion by 2020. Total spending on endpoints and services will reach almost $2 trillion in 2017.

Regionally, Greater China, North America and Western Europe are driving the use of connected things and the three regions together will represent 67 percent of the overall Internet of Things (IoT) installed base in 2017”

AI has been helping insurance companies develop systems that require manual processing and human intelligence. The advent of Artificial Intelligence in the insurance industry has made it easier for insurance agents to deliver efficient and flawless automation of existing claim processes. In the upcoming days, Artificial Intelligence will be more disruptive and will be used to evaluate and recognize emerging risks.

Gartner predicts that by 2020, AI will be a top five investment priority for more than 30 percent of CIOs.

Source: Gartner, Press Release “Gartner Says AI Technologies Will Be in Almost Every New Software Product by 2020” July 18, 2017

The key to moving towards a digital environment and improving customer service is to automate workflows where required. While standard direct interaction may not be so common between insurance entities, however, their relationship with the client is as important. Intrinsically, insurers need more time to interact with their clients and less time scrolling down documents and sorting papers. This is where automation of workflows helps.

To implement these technology initiatives in the existing and continuously growing technology environment, software testing is imperative.  To be able to cope with the cumulative intricacies of systems and applications, insurance companies need a reliable testing partner.

Conclusion

TestingXperts (Tx) is extensively helping global insurers in their digital transformation and helping them deliver improved customer experience and gain competitive advantage. Tx’s testing services portfolio and unparalleled track record have proved it as a preferred technology partner for the Insurance clients. Connect with us to know more about our testing services specific to the insurance industry.

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The Internet of Things (IoT) is turning into an inexorably developing subject of discussion both in the workplace and outside of it. It is a notion that can not only affect how we live but also how we function. Having said this, let’s understand what exactly is the Internet of Things and what influence does it have on people.

Contents 1. Internet of Things (IoT) 2. Need Of Internet Of Things (IOT) Testing 3. Challenges involved with IoT solutions 4. How is TestingXperts addressing these challenges?

Internet of Things (IoT)

There are many complexities around IoT, and hence we need to understand the basic premise on which it functions/operates.  There are many specialized and technical discussions happening around the world, and people are slowly grasping the nuances of IoT.

The idea of IoT was presented and reported in mid-1999 by Kevin Ashton. Internet of Things (IoT) is the network of physical gadgets or devices that are installed with actuators, sensors, and customized programming, building connectivity for trading information with the operator, manufacturer, and other associated devices. These IoT-empowered devices report to the web in a dual-enabled mode to transmit detailed data to backend systems whenever required.

Need Of Internet Of Things (IOT) Testing

With sensors installed all over, the world is turning out to be progressively connected. With sensors progressively connecting all physical devices and applications, there is an increased need to revamp the traditional testing approach. The IoT is about reporting real-time data, permitting users to make quick, informed decisions.

To ensure that your apps and devices stand up to real-time scenarios, it is important to move part of your testing into the real world with poor connectivity and less than normal conditions established. This will ensure the level of quality regardless of what they are put through.

The IoT has enabled enterprises to build various smart and connected applications to reinforce multiple dimensions of customer retention and engagements. The number of connected things is set to explode and expected to reach around 50 billion by 2020. Owing to these advancements in the IoT, smart and connected solutions will soon be enabling enterprises to use software to monitor real-world experiences of the customers.

#IoT is turning into a developing subject of discussion. Read our blog & discover the need for testing IoT https://t.co/HzmbfDIPSo

— TestingXperts (@TestingXperts) December 19, 2016

Challenges involved with IoT solutions

How is TestingXperts addressing these challenges?

TestingXperts’ comprehensive QA strategy can handle the unique requirements and challenges associated with validating IoT set-up. Our test solution includes a combination of tests including iot test automation tools, frameworks, and devices. Our extensive test framework provides capabilities required to perform load simulation, security verification, and functional validation. Furthermore, our in-house test automation solution ‘Tx-Automate’ is combined with simulators and can enable end to end rigorous automation.

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