This White Paper focuses on business assurance, use of predictive analytics in functional testing, and achieving an overall standardization in testing of Insurance COTS (Commercial Off-The-Shelf) products. It highlights the communication made to testers, who are comparatively less experienced. It emphasizes on enabling testers such that they can test critical business scenarios; identify the impacted areas of change. Also, it talks about automatic creation of test cases. Through this, the effort required for test case writing is largely reduced due to standardization making it more