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Guidewire Rate Testing Guide | PDF | Algorithms | Insurance
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Guidewire Rate Testing Guide

This document outlines Guidewire's rate testing approach, which involves validating both rate tables and algorithm logic. For rate tables, factors are exported from Policy Center to Excel and compared to requirements. Policies are created and factors retrieved and compared. For algorithm logic, if the algorithm is shared, test data is created and transactions performed to compare premiums. If not shared, the client provides test data and results are reported to the client.

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kajal
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180 views8 pages

Guidewire Rate Testing Guide

This document outlines Guidewire's rate testing approach, which involves validating both rate tables and algorithm logic. For rate tables, factors are exported from Policy Center to Excel and compared to requirements. Policies are created and factors retrieved and compared. For algorithm logic, if the algorithm is shared, test data is created and transactions performed to compare premiums. If not shared, the client provides test data and results are reported to the client.

Uploaded by

kajal
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd
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Guidewire RatE TESTING Approach

Rate Testing in Guidewire


 Rate testing is the validation of cost calculation of policies in insurance application.
 Guidewire Policy Center can use Guidewire Rating Management or rating engine provided
by third party.
 Guidewire Rating Management will use Rate Book for rating a policy.
 Rate Book consists of Rate tables and Rate Routines.

Rate routine defines algorithm


Rate table will have the actual for calculating the rate for
factor values for rating. coverages, taxes, and other costs
on a policy
Testing Approach

Rate Testing

Rates and factors Algorithm logic


validation validation
Rates and factors validation
Once the Rate Book is ready for testing, the below process will be followed.

Step 1: Export the factor values of rate tables from Policy Center to an Excel and compare
it with the requirements.

Step 2: Create policies in policy center with the required fields(Factors under test).

Step 3: Retrieve the factor values from worksheet in Quote page.

Step 4: Compare the retrieved factor value with the requirements.

Step 5: Report the test result.


Algorithm Logic Validation

Rating Algorithm
Shared by Customer

Yes No

Approach 1 Approach 2
Approach 1
If the customer shares the rating algorithm, the below approach can be used.

QA will create test


data

Approval from Client

Perform Transactions using


approved test data

Match Comparison Mismatch


of premium

Fail, trouble shoot the


Pass the test case issue and log it as a
defect
Approach 2
If the customer don’t share the rating algorithm, the below approach can be used.

Client will share the


test data

Perform Transactions using


client test data

Match Comparison Mismatch


of premium

Fail the test case and


Pass the test case
report it to client
Thank You

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