Are Vanguard participants going to test cutover scenarios, for example:
A transaction created before phase one, a new transaction (AP, RP, claim) on the same policy created after phase one
A transaction created before phase one, a new transaction (AP, RP, claim) on the same policy after phase two
Instalments set up before phase one, settled after phase one/phase two
Yes, the Vanguard testing will cover all of these scenarios and more. They will be testing all interoperability scenarios and reach back capability (include transactions before phase one, in phase one, and in phase two), which will cover all scenarios.
Scenarios are derived from a combination of transactions before phase one, in phase one and in phase two, across transactions for premium and claims settlement.
We recognise the importance of all Velonetic customers having a clear understanding of the approach that will be taken to testing, accepting, and assuring the overall delivery of phase one and phase two implementations. We will provide more detail on this topic ahead of the self-testing available to market firms commencing from April 2024.