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If you are committed to sustainable growth of your employer in the financial sector and wish to contribute to successful business development as an IT leader or QA professional, this is the right article for you.
You're likely engaged with current trends in the finance industry, and it's safe to say that you're experiencing some of them firsthand.
However, proactively researching insurance industry trends can be challenging - even for dedicated leaders who would ideally like to do so - especially when faced with endlessly long and monotonous annual reports and outlooks that consume too much of your valuable time.
We've done the heavy lifting for you, particularly analyzing the 2025 global insurance outlook by Deloitte!
Based on this analysis, we're here to provide a concise and relevant overview of what you need to know and what's genuinely pertinent to you.
In this article, you will learn:
- what the trends forecasted by Deloitte specifically mean for you in the insurance industry
- how you can keep up with those trends
- ideas on what you can achieve, based on this inputs, with your team for your company
Let's start with the trends relevant to you:
For all the details, you can check the full report here.
The growing role of digital technologies in financial services is speeding up and is essential for insurance’s future success. You can see how quickly these technologies are developing, and it's clear that their importance will continue to grow in the near future.
The demand for digital solutions is no longer optional in the insurance world.
In 2025, insurers will continue focusing on enhancing operational efficiency and modernizing outdated core systems to stay competitive.
This will include leveraging AI for risk management and customer-centric solutions, allowing insurers to remain proactive in preventing losses instead of simply reacting to them.
With non-life insurance premiums growing globally, it’s clear that insurers need digital tools to meet the rising challenges of unpredictable events, such as natural disasters and cyber threats.
As we delve deeper into the digital transformation in financial services, software quality emerges as a vital foundation for maintaining your institution's reputation and success.
But let's face it: in the highly regulated world of finance, ensuring top-notch software quality isn't without its hurdles.
It's a tough balancing act,right?
The challenges are real - from integrating constant regulatory updates to managing data integrity under strict scrutiny.
Unlike other industries, you must ensure that every software update complies with complex and ever-changing laws. You also need to ensure data is secure from breaches, which adds extra layers of complexity.
Quality assurance in this environment means thorough testing and validation at every stage. You need to ensure that your software not only works correctly but also meets all regulatory standards. This process is more complicated in finance because any error can lead to severe legal consequences and loss of customer trust.
Yet, here lies a golden opportunity. By improving your software quality management processes, you not only mitigate risks, but also increase customer trust and secure a competitive edge.
Think about institutions that excel in managing these complexities are the ones that thrive in the digital future.
As a customer of any financial institution, your trust hinges on seamless and secure interactions. Think about how crucial it is for insurance software to be reliable.
When everything works perfectly, you can make transactions without worrying about security or accuracy.
But if there's even one bug or security issue, your trust in the insurance can be shaken dramatically. Customers don’t forgive bugs easily,and even a small glitch can make you question the insurance's credibility.
This direct connection between software quality and customer trust highlights why maintaining impeccable software standards is essential.
Whether you're a customer, employee, or investor, understanding this link is decisive because it shapes the trust and reputation that are foundational to the success of financial institutions.
So, are you ready to turn these challenges into your stepping stones for growth and innovation?
Let's make sure yoursoftware quality stands as a testament to your institution's excellence andresilience.
You are probably considering test automation for your software quality assurance, or you’re already testing as much as possible automatically because why not automate repetitive tasks?
You know test coverage is essential for maintaining software quality, but you may also be hitting some boundaries along the way.
These sectors demand tools that not only adhere to rigorous compliance standards but also ensure accuracy and traceability.
Here’s what's essential for your test automation tool within such regulated markets:
The tool must ensure that all test cases and automated executions are in accordance with industry regulations. This includes verifying expected result safter every step to maintain compliance.
The tool should support revision-based test cases, allowing for seamless updates and integration of new functionalities while ensuring that each change is tracked and documented.
The tool must provide complete traceability, from test execution logs to exportable reports. This ensures that every action taken during testing is traceable and can be reviewed as needed.
The automated testing processes must be fully auditable. This includes maintaining detailed logs and providing evidence for each test step, ensuring that the entire process can be audited by regulatory bodies.
The tool should offer robust reporting capabilities, including the ability to generate reports in various formats such as Excel and PDF. These reports should be customizable to meet the specific needs of your organization.
The tool should be designed by experts familiar with the specific challenges and requirements of regulated markets, ensuring that it is built to meet the highest standards of quality and compliance.
Addressing these needs, TestResults.io is an ideal platform for regulated industries by offering a comprehensive suite of features designed for compliance, traceability, and auditability.
TestResults.io is createdby FinTech experts. The platform offers revision-based test cases, and theautomated executions and reports adhere to regulations, with expected resultsverified at each step, providing clear evidence and traceability. Yourautomated testing with TestResults.io is entirely auditable.
The tool provides detailed,traceable reporting, from log files to exportable Excel and PDF reports, andyou can personalize the layout to meet your specific requirements.
Sounds good in theory, right? But let's take a look at why other companies use TestResults.io in practice.
An internationally operating financial service company with over 4,900 employees can now test Front Arena automatically with TestResults.io!
The Front Arena trading platform software couldn't be tested automatically, and manual testing was too time-consuming and resource-intensive.
The testing coverage wasn't what it could have been, and there was a gap in their test automation!
Through automated technology-independent human-like software test automation (black box testing), the complex UI with the pre-set AI table recognition could be easily automated.
A positive sideeffect: Freeing up the team from time-demanding manual testing
They were being able to automate all applications, no matter what technology. They became flexible with resources, as no certification or special training is needed for test automation with TestResults.io - not even for tables.
Moreover, they mitigated the business risk and gained confidence back, everything works as expected.
Find more details about how TestResults.io helped other banks solving their challenges.
As you integrate digital technologies into your insurance, it's clear that keeping your software quality top-notch is essential for maintaining your institution's reputation and keeping your customers happy.
In the future, how well your financial institution manages new technologies while staying compliant and reliable will play a big role in building customer trust and success.
For IT leaders and QA professionals in the financial sector like you, using advanced test automation platforms such as TestResults.io will be crucial.
These platforms make the testing process easier and improve accuracy, compliance, and security - all important for boosting customer satisfaction in highly regulated environments.
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🧑💻 If you are a hands-on person and feel the need to experience TestResults.io without spending a cent, you can try it out here for FREE and see if it might meet the needs of your testing projects!
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