FORM 2
THE PATENTS ACT,1970
(39 of 1970)
&
THE PATENT RULES, 2003
COMPLETE SPECIFICATION
(See Section 10 and Rule 13)
Title of invention:
SYSTEM AND METHOD FOR AUTOMATIC VALIDATION OF SOLVENCY REQUIREMENTS IN INSURANCE DOMAIN
Applicant:
Tata Consultancy Services Limited A company Incorporated in India under The Companies Act, 1956
Having address:
Nirmal Building. 9th Floor,
Nariman Point, Mumbai 400021,
Maharashtra, India
The following specification particularly describes the invention and the manner in which it is to be performed.

TECHNICAL FIELD
[001] The present invention generally relates to field of computer data processing.
More particularly, the present invention relates to a system and method for automated testing or validation of solvency requirements in an enterprise framework.
BACKGROUND
[002] In general, managing and ensuring the correct amount of assets by asset
management community is essential for evaluating the risk of the capital adequacy requirements associated with different sectors of enterprises such as insurance companies and the like. These enterprises need to comply with various legal and regulatory compliances set by the statutory authorities of the respective nation. For example, different nations worldwide have different laws in regards to human resource, environment safety, taxation, commercial laws and labor laws etc. One such important regulation is solvency requirements applicable to insurance sector. These regulations are frequently updated by the statutory authorities over a period of time. For example, recently European Economic Area (EEA) have come up with new solvency regulations for the insurance sectors under EEA termed as "Solvency II" that are adopted for ensuring or checking the adequacy of the capital or funds available.
[003] The Solvency II requirements are bind with various rules and policies that gets
frequently updated and are re-defined by the authorities from time-to-time. The enterprises therefore need to keep an eye on such notifications in order to comply with new regulations. More specifically, these enterprises need to analyze and review the data pertaining to insurance sector with respect to newly amended or updated compliances and rules enforced for checking of capital adequacy thereof. However, though the insurance specific data is of high volume, conventionally, checking of said data with respect to updated Solvency II requirements is still done manually by analyzing the data referring to various pre-defined rules and policies.
[004] However, the conventional method of manual checking of data with respect to
Solvency II requirements is cumbersome and tedious and requires multiple recurrent checks for validating the data. Further, the regulations may include multiple changes or amendments, as a result of which it becomes imperative to perform several validation checks for ensuring the integrity and security of the data. Another parameter that may affect the validation of data

is data migration and thereby the data transformation. For example, the data handled is of large volume and generally migrates through various databases. While migrating through various databases, the data may get transformed and therefore is not consistent and hence is always distinct in nature. Therefore, the validation of migrated data needs to be performed by connecting to several databases communicating in a communication network. Thus, consistency and synchronization of data also needs to be validated.
[005] Thus, the data migrated through databases pertaining to insurance domain not
only has to be validated with respect to Solvency II requirements but also needs to be validated with respect to data consistency and data synchronization. Further, it is required to ensure that there exists connection between individual databases while validating the data. Further, the data handled is subjected to various complex calculations for checking the capital adequacy, risks, and liabilities etc satisfying the Solvency II regulations. As the data to be analyzed is of high volume, the current techniques of performing rigorous manual checks, manual calculations using complex formulae may be tedious and time consuming. Further, there are high chances of human error while performing such quality and validation checks manually. Further, utilizing the conventional techniques of validating the data with respect to Solvency II regulations may require checking numerous pre-defined rules which is laborious, time-consuming and thereby leading to frequent recurrent checks of the data that is of large volume. Further, checking data manually referring to such pre-defined rules may further lead to human errors. Thus, the quality of data in terms accuracy, completeness and consistency is still lacked in the art during validation of migrating data with respect to Solvency II regulations.
[006] Thus, in view of the above lacunae observed in the art, there is a long-felt need
for an efficient, secured and automated system of validating the solvency requirements for the enterprises. More particularly, there is a need for a system and method for automatic validation of data migrated through various connected databases with respect to various Solvency regulations thereby facilitating qualitative output in terms of data accuracy, data completeness and data consistency.

SUMMARY
[007] This summary is provided to introduce concepts related to systems and
methods for validating data associated with solvency requirements and the concepts are further described below in the detailed description. This summary is not intended to identify essential features of the claimed subject matter nor is it intended for use in determining or limiting the scope of the claimed subject matter.
[008] In one implementation, a system for validating the data associated with
solvency requirements is disclosed, wherein the data is migrated through a plurality of assorted databases. The system comprises a processor and a memory coupled to the processor for executing a set of modules stored in the memory. The set of modules comprises a staging module, a query builder module, a test management module, an automated test case scheduling module, a validation module and a report generation module. The staging module is configured to stage the data in a staging table to verify the consistency of the data after being migrated through the plurality of assorted databases. The consistency of the data is verified based on a first set of pre-configured validation checks. The query builder module is configured to create a plurality of test-cases for testing the data, wherein the plurality of test cases are augmented with a plurality of structured queries. Further, the plurality of structured queries is configured to be executed on one or more pre-stored database tables for running the plurality of the test-cases. The test management module is configured to upload the plurality of test-cases along with the plurality of the structured queries in a computer-based testing environment. The automated test case scheduling module is configured to schedule the plurality of structured queries to be executed at a pre-defined time interval for running the plurality of test-cases on the one or more pre-stored database tables. Based on the execution of the one or more test-cases on the one or more pre-stored database tables, the validation module is configured to perform validation of the data, wherein the data is validated based on a second set of pre-configured validation checks.. Upon validating the data, the report generation module is configured to generate a test report depicting the results of the validation of the data in response to the execution of the one or more test-cases on the one or more pre-stored database tables.

[009] In another implementation, a method for validating data associated with
solvency requirements is disclosed. The data to be validated is migrated through a plurality of assorted databases. The data is staged in a staging table to verify the consistency of the data after being migrated through the plurality of assorted databases. The consistency of the data is verified based on a first set of pre-configured validation checks. Further, a plurality of test-cases for testing the data is created, wherein the plurality of test cases are augmented with a plurality of structured queries. The plurality of structured queries is configured to be executed on one or more pre-stored database tables for running the plurality of the test-cases. The plurality of test-cases along with the plurality of the structured queries is uploaded in a computer-based testing environment. Thereafter, the plurality of structured queries is scheduled to be executed at a pre-defined time interval for running the plurality of test-cases on the one or more pre-stored database tables. Upon executing the one or more test-cases on the one or more pre-stored database tables, validation of the data is performed, wherein data is validated based on a second set of pre-configured validation checks. After validating the data, a test report is generated depicting the results of the validation of the data in response to the execution of the one or more test-cases on the one or more pre-stored database tables.
[0010] Yet in another implementation, computer program product having embodied
thereon a computer program for validating data associated with solvency requirements is disclosed. The data to be validated is migrated through a plurality of assorted databases. The computer program product comprises a program code for staging the data in a staging table to verify the consistency of the data after being migrated through the plurality of assorted databases, wherein the consistency of the data is verified based on a first set of pre-configured validation checks. A program code is provided for creating a plurality of test-cases for testing the data, wherein the plurality of test cases are augmented with a plurality of structured queries, and wherein the plurality of structured queries are configured to be executed on one or more pre-stored database tables for running the plurality of the test-cases. A program code is provided for uploading the plurality of test-cases along with the plurality of the structured queries in a computer-based testing environment. A program code is provided for scheduling the plurality of structured queries to be executed at a pre-defined time interval for the running of the plurality of test-cases on the one or more pre-stored database tables. A program code is provided for performing validation of the data based on the execution of the one or more test-

cases on the one or more pre-stored database tables, wherein the data is validated based on a second set of pre-configured validation checks. A program code is provided for generating a test report depicting the results of the validation of the data in response to the execution of the one or more test-cases on the one or more pre-stored database tables
BRIEF DESCRIPTION OF THE DRAWINGS
[0011] The detailed description is described with reference to the accompanying
figures. In the figures, the left-most digit(s) of a reference number identifies the figure in which the reference number first appears. The same numbers are used throughout the drawings to refer like features and components.
[0012] Figure 1 illustrates a network implementation of a system for validating data
associated with solvency requirements is shown, in accordance with an embodiment of the present subject matter.
[0013] Figure 2 illustrates the system, in accordance with an embodiment of the
present subject matter.
[0014] Figure 3 illustrates a detailed working of the system, in accordance with an
embodiment of the present subject matter.
[0015] Figure 4 illustrates a method for validating data associated with solvency
requirements, in accordance with an embodiment of the present subject matter.
DETAILED DESCRIPTION
[0016] System(s) and method(s) for automatically testing the solvency requirements
applicable to different enterprise frameworks characterized by performing pre-configured data and domain specific validation checks for complying with the solvency regulations have been disclosed. The data which is imported for performing the solvency testing is stored in different types of databases of different enterprise frameworks. Since, the data migrates through different databases or from one platform to another platform it is of upmost importance to ensure the quality of data migrated in terms of accuracy, completeness and consistency.

[0017] In an embodiment of the present subject matter, the system comprises multiple
processor-executable programmed modules; each module performing a particular set of task upon execution of instructions stored in a memory by the processor. For example, the system comprises a staging module configured for staging the data in a staging table for verifying the correctness and consistency of the data, wherein the data is being migrated through a plurality of assorted databases. In one embodiment, the plurality of assorted databases is deployed in an enterprise framework facilitating at least one of insurance, trading, banking and other Line of Businesses (LOBs) services. The correctness and consistency of the data is verified based on a first set of pre-configured validation checks. After staging the data, a query builder module is configured for allowing the user to create plurality of test cases along with the plurality of structured queries. The plurality of structured queries is configured to be executed on one or more pre-stored database tables for running the plurality of the test-cases. In an exemplary embodiment, the one or more pre-stored database tables may be at least one of Oracle database table and MySQL database table. The pre-stored database tables may be configured to store details of a user using the system, details about the test cases, a report path for storing reports that may be generated as a result of the execution of the test cases and database connection details. Further, a test management module is configured for uploading the test cases along with the plurality of structured queries in a computer-based testing environment. The uploaded plurality of structured queries is scheduled to be executed by the automated test case scheduler module at a pre-defined time interval for running the plurality of test cases on the one or more pre-stored database tables. Thereafter, a validation module is configured to perform validation of the data based on the execution of the one or more test-cases on the one or more pre-stored database tables, wherein the data is validated based on a second set of pre-configured validation checks. Further, a report generation module is configured to generate a test report depicting the results of the validation of the data in response to the execution of the one or more test-cases on the one or more pre-stored database tables. Thus, based on the test report generated and a set of pre-defined rules specific to the enterprise framework, a risk associated with the data can be determined.
[0018] In an embodiment of the present subject matter, the first set of pre-configured
checks and the second set of pre-configured validation checks may comprise a multi-level hierarchical validation data. A first level of the hierarchical validation data may comprise data

length validation, date validation; time formats validation, and negative value validation. A second level of the hierarchical validation data may comprise client code validation with a pre-defined master data, and rating grade validations. Further, a third level of the hierarchical validation data may comprise ISIN validation, CUSIP validation and SEDOL validation.
[0019] In an exemplary embodiment of the present subject matter, the system may
provide validation check for performing data warehouse testing, data validation testing, data migration testing etc. In accordance with this embodiment, when the data is imported from different databases of several sources and is stored in the staging table, pre-configured first set and second of validation checks comprising data specific and domain specific validation checks are performed on the imported data for ensuring the accuracy, consistency and completeness of the data.
[0020] In one embodiment, the system is further configured to enable addition of a
new user and facilitating the added user to perform the validation of the solvency requirements. The validation is based on the first set pre-configured validation checks and the second set of pre-configured validation checks. The first set of pre-configured checks and the second set of pre-configured checks comprise at least one of data and domain specific validation checks. Further, the data and the domain specific validation checks may be associated with various rules and policies. The system is configured to display various test cases to the user by means of an Input/output (I/O) interface that allows user to view, filter and execute the test cases. The system is further adapted to be connected with the other databases using various device drivers. The data is stored in the files format, wherein the files are maintained in the memory of the system from which the data can be extracted. The user is provided the feasibility to set the length of the file, header-footer information and can also to delimit the file's information. The system may further perform reconciliation of data values between different sources.
[0021] In one embodiment, the creation of the test cases by the user is then followed
by uploading the created test cases to a test management module. The uploaded test cases are automatically scheduled by the system to be executed at a particular pre-defined time to generate the test report pertaining to data validation. In this embodiment, the user is provided with various options for generating the report in different user-defined formats such as html,

excel or combinations thereof. Further, the generated report can be stored in the memory of the system that can be viewed for future reference and analysis.
[0022] In one embodiment, the system further enables a risk calculator module
configured for performing risk calculations to validate the solvency requirements with respect to a set of pre-defined rules specific to the enterprise framework. The risk calculator module is capable of performing various Solvency regulation validations such as fund to portfolio transformation verification, International Securities Identification Number (ISIN) validation. Committee on Uniform Securities Identification Procedures (CUSIP) validation, Stock Exchange Daily Official List (SEDOL) validation, credit rating from Moody's check, credit rating from Fitch check, credit rating from Standard & Poor's check, coupon date validation, maturity date validation, term validation or combinations thereof
[0023] It is to be understood for the person skilled in the art that the solvency
validation tool is not only limited to address the testing challenges for the solvency compliance. The system with some minor customization is also capable for catering the needs of the various other domains that requires data and domain-specific validations while migration of data from one platform to the other. Thus, the solvency validation tool is enabled to perform validation of large volume of migrating data to ensure the quality, accuracy and completeness of the data after it gets migrated from one platform to the other.
[0024] While aspects of described system and method for automatically testing the
solvency requirements applicable to different enterprise frameworks may be implemented in any number of different computing systems, environments, and/or configurations, the embodiments are described in the context of the following exemplary system.
[0025] Referring now to Figure 1. a network implementation 100 of system 102 for
automatically testing the solvency requirements applicable to different enterprise frameworks is illustrated, in accordance with an embodiment of the present subject matter. In one embodiment, the system 102 is facilitated for automatically testing the solvency requirements applicable to different enterprise frameworks by performing pre-configured data and domain specific validation checks for complying with the solvency regulations.
[0026] Although the present subject matter is explained considering that the system
102 is implemented for testing the solvency requirements on a server, it may be understood

that the system 102 may also be implemented in a variety of computing systems, such as a laptop computer, a desktop computer, a notebook, a workstation, a mainframe computer, a server, a network server, and the like. It will be understood that the system 102 may be accessed by multiple users through one or more user devices 104-1, 104-2...104-N, collectively referred to as user 104 hereinafter, or applications residing on the user devices 104. Examples of the user devices 104 may include, but are not limited to, a portable computer, a personal digital assistant, a handheld device, and a workstation. The user devices 104 are communicatively coupled to the system 102 through a network 106.
[0027] In one implementation, the network 106 may be a wireless network, a wired
network or a combination thereof. The network 106 can be implemented as one of the different types of networks, such as intranet, local area network (LAN), wide area network (WAN), the internet, and the like. The network 306 may either be a dedicated network or a shared network. The shared network represents an association of the different types of networks that use a variety of protocols, for example, Hypertext Transfer Protocol (HTTP), Transmission Control Protocol/Internet Protocol (TCP/IP), Wireless Application Protocol (WAP), and the like, to communicate with one another. Further the network 106 may include a variety of network devices, including routers, bridges, servers, computing devices, storage devices, and the like.
[0028] Referring now to Figure 2, the system 102 is illustrated in accordance with an
embodiment of the present subject matter. In one embodiment, the system 102 may include at least one processor 202, an input/output (I/O) interface 204, and a memory 206. The at least one processor 202 may be implemented as one or more microprocessors, microcomputers, microcontrollers, digital signal processors, central processing units, state machines, logic circuitries, and/or any devices that manipulate signals based on operational instructions. Among other capabilities, the at least one processor 202 is configured to fetch and execute computer-readable instructions or modules stored in the memory 206.
[0029] The I/O interface 204 may include a variety of software and hardware
interfaces, for example, a web interface, a graphical user interface, and the like. The I/O interface 204 may allow the system 102 to interact with a user directly or through the client devices 104. Further, the I/O interface 204 may enable the system 102 to communicate with

other computing devices, such as web servers and external data servers (not shown). The I/O interface 204 can facilitate multiple communications within a wide variety of networks and protocol types, including wired networks, for example, LAN, cable, etc., and wireless networks, such as WLAN, cellular, or satellite. The I/O interface 204 may include one or more ports for connecting a number of devices to one another or to another server.
[0030] The memory 206 may include any computer-readable medium or computer
program product known in the art including, for example, volatile memory, such as static random access memory (SRAM) and dynamic random access memory (DRAM), and/or nonvolatile memory, such as read only memory (ROM), erasable programmable ROM, flash memories, hard disks, optical disks, a compact disks (CDs), digital versatile disc or digital video disc (DVDs) and magnetic tapes. The memory 206 may include modules 208 and data 224.
[0031] The modules 208 include routines, programs, objects, components, data
structures, etc., which perform particular tasks or implement particular abstract data types. In one implementation, the modules 208 may include a staging module 210. a query builder module 212, a test management module 214, an automated test case scheduling module 216, a validation module 218, a report generation module 220 and other modules 222. The other modules 222 may include programs or coded instructions that supplement applications and functions of the system 102.
[0032] The data 224. amongst other things, serves as a repository for storing data
processed, received, and generated by one or more of the modules 208. The data 224 may also include database table 226 stored in database (not shown in the figure) of the memory 206.
[0033] In one implementation, at first, the user may use the client device 104 to access
the system 102 via the I/O interface 204. The users may register them using the I/O interface 204 in order to use the system 102. The working of the system 102 is explained above in detail in Figure 2. The system 102 may be used for validating the data migrated from different databases in order to verify the solvency requirements.
[0034] Referring to Figure 3, a detailed working of the system 102 is illustrated, in
accordance with an embodiment of the present subject matter. The purpose of the present

subject matter is to enable the system 102 having a solvency verification tool embodied thereon to facilitate validation of data associated with solvency requirements.
[0035] In an embodiment, the staging module 210 is a processor executable
programmed module that is configured for staging the data migrated through a plurality of assorted databases 302. The plurality of assorted databases may be deployed in an enterprise framework facilitating at least one of insurance, trading, banking and other Line of Businesses (LOBs) services. The data may be distinct in nature and having varied formats or data types. Thus, it is required to verify the data in terms of accuracy, consistency and completeness. In order to facilitate such verification, the system 102 is adapted to store the first set of predefined validation checks and the second set of validation checks. The first set of pre-configured validation checks and the second set of pre-con figured validation checks are at least one of data and domain specific validation checks. The first set of pre-con figured validation checks are adapted to perform the validation checks of the data being migrated and thereby performing the staging of the data into the staging table.
[0036] In an embodiment, upon staging the data, the query builder module 212 is
configured for allowing the user to create the test cases along with structured queries. Since, the system 102 is capable of testing the solvency requirements in various different domains; the user is required to create the test cases as per the domain of interest and requirements thereof. The system 102 is adapted to get acquainted with the test cases created by the user. In this embodiment, the test cases along with the structured queries created are then uploaded into the test management module 214. After uploading the test cases, the automated test-case scheduler module 216 is configured to automatically schedule the structured queries for being executed at a specific pre-defined time interval. Such scheduling enables automatic execution of the test cases created on one or more pre-stored database tables without user intervention at the specific pre-defined time interval. The pre-stored database tables may be configured to store details of a user using the system, details about the test cases, a report path for storing reports that may be generated as a result of the execution of the test cases and database connection details. The automated test case scheduler module 216 is also capable of notifying the user regarding the status of the test case execution by via an electronic mail or means of wireless communication.

[0037] In an embodiment of present subject matter, the system 102 is further
configured to enable addition of a new user and facilitating the user added to perform the validation of the solvency requirements. Such validations are based on the various pre-configured domain and data specific validation checks that are bind with various rules and policies. The solvency validation tool is further configured to display various test cases to the user by means of the I/O interface 204 that allows user to view, filter and execute the test cases. The system 102 is further adapted to be connected with the other databases (not shown in figure) using various device drivers (not shown in figure). The data is stored in the files format, wherein the files are maintained in the memory of the solvency validation tool from which the data can be extracted. The user is provided the feasibility to set the length of the file, header-footer information and can also to delimit the file's information. The solvency validation tool is further capable to perform reconciliation of data values between the assorted databases.
[0038] In an embodiment of present subject matter, a validation module 218 is
configured to perform validation of the data based on the execution of the one or more test-cases on the one or more pre-stored database tables. The data gets validated on basis of the second set of pre-configured validation checks. After the performing the validation check, a report generation module 220 is configured to generate a test report. The test report generated depicts the results of the validation of the data in response to the execution of the one or more test-cases on the one or more pre-stored database tables. Further, based on the results of the test report generated and the pre-defined rules, the risk associated with the data may be determined for the enterprise framework. For example, the risk may be determined for various Solvency regulation validation such as fund to portfolio transformation verification, International Securities Identification Number (ISIN) validation, Committee on Uniform Securities Identification Procedures (CUSIP) validation, Stock Exchange Daily Official List (SEDOL) validation, credit rating from Moody's check, credit rating from Fitch check, credit rating from Standard & Poor's check, coupon date validation, maturity date validation, term validation or combinations thereof. In an embodiment of the present subject matter, the first set of pre-configured checks and the second set of pre-configured validation checks may comprise a multi-level hierarchical validation data. A first level of the hierarchical validation data may comprise data length validation, date validation; time formats validation, and

negative value validation. A second level of the hierarchical validation data may comprise client code validation with a pre-defined master data, and rating grade validations. Further, a third level of the hierarchical validation data may comprise IS IN validation, CUSIP validation and SEDOL validation.
[0039] In an embodiment of the present subject matter, the test report generated may
illustrate the data validation summary in context to the Solvency regulations for the data imported from the assorted databases 302. The system 102 is adapted to generate the report in the user-defined format such as excel, html or combinations thereof based on the requirement of the user. The generated report may be stored in the memory 206 for future reference and analysis.
[0040] Referring now to Figure 4, a method 400 for validating data associated with
solvency requirements is shown, in accordance with an embodiment of the present subject matter. The method 400 may be described in the general context of computer executable instructions. Generally, computer executable instructions can include routines, programs, objects, components, data structures, procedures, modules, functions, etc., that perform particular functions or implement particular abstract data types. The method 400 may also be practiced in a distributed computing environment where functions are performed by remote processing devices that are linked through a communications network. In a distributed computing environment, computer executable instructions may be located in both local and remote computer storage media, including memory storage devices.
[0041] The order in which the method 400 is described is not intended to be construed
as a limitation, and any number of the described method blocks can be combined in any order to implement the method 400 or alternate methods. Additionally, individual blocks may be deleted from the method 400 without departing from the spirit and scope of the subject matter described herein. Furthermore, the method can be implemented in any suitable hardware, software, firmware, or combination thereof. However, for ease of explanation, in the embodiments described below, the method 400 may be considered to be implemented in the above described system 102.
[0042] At block 402. the data to be validated is staged in a staging table. The data in
the staging table is verified for correctness, consistency and accuracy. The correctness,

consistency and accuracy of the data are verified on the basis of a first set of pre-configured validation checks.
[0043] At block 404, plurality of test-cases for testing the data is created. Along with
the test-cases, plurality of structured queries is also created. Further, the plurality of structured queries is configured to be executed on one or more pre-stored database tables for running the plurality of the test-cases.
[0044] At block 406. the test-cases created are uploaded along with the structured
queries.
[0045] At block 408. after the test-cases and the structured queries being uploaded, the
structured queries are scheduled for being executed for running the plurality of test-cases on the one or more pre-stored database tables.
[0046] At block 410. validation of the data is conducted by executing the test-cases on
the one or more pre-stored database tables. Further, the data is validated on the basis of second set of pre-configured validation checks.
[0047] At block 412, a test report is generated depicting the results of the validation of
the data based on the execution of the test-cases on the one or more pre-stored database tables.
ADVANTAGES
[0048] The system 102 enables automatic validation of data migrated from one
platform to the other ensuring accuracy and completeness of the data.
[0049] Providing automatic generation of test-reports for the data validated with
respect to various solvency regulations.
[0050] Enabling enables both data and domain specific validation checks for the data
subjected to solvency regulation testing.
[0051] Providing data consistency check during migration of data through several
databases connected together by means of a network.
[0052] Providing reconciliation of data values between data of assorted databases.
[0053] Although implementations for methods and systems for testing the solvency
requirements have been described in language specific to structural features and/or methods, it

is to be understood that the appended claims are not necessarily limited to the specific features or methods described. Rather, the specific features and methods are disclosed as examples of implementations for validating data associated with solvency requirements.

I/We Claim:
1. A method for validating data associated with solvency requirements, wherein the data is migrated through a plurality of assorted databases, the method comprising:
staging, by a processor, the data in a staging table to verify the consistency of the data after being migrated through the plurality of assorted databases, wherein the consistency of the data is verified based on a first set of pre-configured validation checks;
creating, by the processor, a plurality of test-cases for testing the data, wherein the plurality of test cases are augmented with a plurality of structured queries, and wherein the plurality of structured queries are configured to be executed on one or more pre-stored database tables for running the plurality of the test-cases;
uploading, by the processor, the plurality of test-cases along with the plurality of the structured queries in a computer-based testing environment;
scheduling, by the processor, the plurality of structured queries to be executed at a pre-defined time interval for the running of the plurality of test-cases on the one or more pre-stored database tables;
performing, by the processor, validation of the data based on the execution of the one or more test-cases on the one or more pre-stored database tables, wherein the data is validated based on a second set of pre-configured validation checks; and
generating, by the processor, test report depicting the results of the validation of the data in response to the execution of the one or more test-cases on the one or more pre-stored database tables.
2. The method of claim 1, wherein the plurality of assorted databases is deployed in an enterprise framework facilitating at least one of insurance, trading, and banking services.
3. The method of claim 1, wherein the first set of pre-configured checks and the second set of pre-configured checks are specific to the solvency requirements, and wherein the first set of pre-configured checks and the second set of pre-configured checks comprise at least one of data and domain specific validation checks.

4. The method of claim 1, wherein the one or more pre-stored databases tables are at least one of Oracle database table and MySQL database table.
5. The method of claim 1, a risk associated with the data can be determined based on the test report generated and a set of pre-defined rules specific to an enterprise framework.
6. A system (200) for validating data associated with solvency requirements, wherein the data is migrated through a plurality of assorted databases, the system comprising:
a processor (202); and
a memory (204) coupled to the processor (202), the memory (206) comprising a plurality of modules (208) capable of being executed by the processor, wherein the plurality of modules (208) comprises:
a staging module (210) configured to stage the data in a staging table to verify the consistency of the data after being migrated through the plurality of assorted databases, wherein the consistency of the data is verified based on a first set of pre-configured validation checks;
a query builder module (212) configured to create a plurality of test-cases for testing the data, wherein the plurality of test cases are augmented with a plurality of structured queries, and wherein the plurality of structured queries are configured to be executed on one or more pre-stored database tables (226) for running the plurality of the test-cases;
a test management module (214) configured to upload the plurality of test-cases along with the plurality of the structured queries in a computer-based testing environment;
an automated test case scheduling module (216) configured to schedule the plurality of structured queries to be executed at a pre-defined time interval for the running of the plurality of test-cases on the one or more pre-stored database tables;
a validation module (218) configured to perform validation of the data based on the execution of the one or more test-cases on the one or more pre-

stored database tables, wherein the data is validated based on a second set of pre-configured validation checks; and
a report generation module (220) configured to generate a test report depicting the results of the validation of the data in response to the execution of the one or more test-cases on the one or more pre-stored database tables.
7. The system of claim 6, wherein the plurality of assorted databases is deployed in an
enterprise framework facilitating at least one of insurance, trading, and banking
services.
8. The system of claim 6, wherein the first set of pre-configured checks and the second set of pre-configured checks are specific to the solvency requirements, and wherein the first set of pre-configured checks and the second set of pre-configured checks comprise at least one of data and domain specific validation checks.
9. The system of claim 6, wherein the one or more pre-stored databases tables (226) are at least one of Oracle database table and MySQL database table.
10. The system of claim 6, a risk associated with the data can be determined based on the test report generated and a set of pre-defined rules specific to an enterprise framework.
11. A computer program product having embodied thereon a computer program for validating data associated with solvency requirements, wherein the data is migrated through a plurality of assorted databases, the computer program product comprising:
a program code for staging the data in a staging table to verify the consistency of the data after being migrated through the plurality of assorted databases, wherein the consistency of the data is verified based on a first set of pre-configured validation checks;
a program code for creating a plurality of test-cases for testing the data, wherein the plurality of test cases are augmented with a plurality of structured queries,

and wherein the plurality of structured queries are configured to be executed on one or more pre-stored database tables for running the plurality of the test-cases;
a program code for uploading the plurality of test-cases along with the plurality of the structured queries in a computer-based testing environment;
a program code for scheduling the plurality of structured queries to be executed at a pre-defined time interval for the running of the plurality of test-cases on the one or more pre-stored database tables;
a program code for performing validation of the data based on the execution of the one or more test-cases on the one or more pre-stored database tables, wherein the data is validated based on a second set of pre-con figured validation checks; and
a program code for generating a test report depicting the results of the validation of the data in response to the execution of the one or more test-cases on the one or more pre-stored database tables.