Software Development, Testing And Utility Theory In Insurance
The insurance industry is growing at a very fast pace. With increase in volume and categories such as life, health and general insurance, managing the entire process has become quite complex. In order to achieve efficient systems, it is quite necessary for the testing phase of the system to be robust and effective as well. Insurers now opt for technology in order to balance efficiency and growth spending where it counts the most. The paper below discusses the importance of software testing in this particular field. We also discuss various methodologies deployed during the process of testing a system based for insurance companies and insurers. We also discuss the coupling of software testing with quality improvement i.e. how software testing not only detects existing bugs and errors of the system but also improves the overall performance and design of the system.
Keywords-Software Development Life Cycle, Testing, Quality Assurance, XML, Utility Theorem, Test cases