Insurance > Premiums
For premiums, the main tests are used to ensure that premiums are raised and the correct rate is used. However, risk analyses and exception testing of old or forward-dated items are useful.
The following are commonly used tests (grouped by type).
- Stratify premiums by size and product type
- Summarise new business by agent or area
- Summarise debts by agent
- Recalculate premiums
- Prove posting totals
- Extract old premiums due on policies that have not lapsed
- Identify policies that have been cancelled soon after inception
- Identify policies with initial discounts that have then been lapsed and credited
- Extract negative debts
- Identify unallocated cash
- Extract policies with blank or invalid policy numbers
- Identify policy premiums that have been partly paid
- Direct Debits that have not been collected