Business Analyst (Insurance)

Key Responsibilities

1. Business Process Mapping & Optimization

• Conduct discovery workshops with business stakeholders across underwriting, policy administration, claims, agency/broker distribution, finance, and compliance.

• Map and document current-state (As-Is) operational workflows, identifying bottlenecks, redundant touchpoints, and manual workarounds.

• Design streamlined, automated future-state (To-Be) processes aligned with industry best practices and target operating models.

2. Business Analysis & Requirements Engineering

• Translate business goals and operating models into structured documentation: Business Requirements Documents (BRD), Functional Specifications (FSD), Use Cases, and User Stories with Acceptance Criteria (Gherkin/INVEST format).

• Define system integration requirements between modern core policy platforms and peripheral applications (e.g., CRM, Document Management, Payment Gateways, General Ledger, Actuarial Valuation engines).

• Manage requirements traceability throughout the project lifecycle to avoid scope creep.

3. System Revamp & Modernization Delivery

• Partner with System Architects, Technical Leads, and external software vendors to evaluate solution designs against business needs.

• Support data migration planning, defining field-level mapping rules, validation logic, and cleanup strategies from legacy mainframes/databases to the target core platform.

• Lead business configuration discussions around policy rules, product setup (term, whole life, universal life, riders), rating engines, and underwriting guidelines.

4. Testing, Change Management & Transition

• Collaborate with Quality Assurance (QA) teams to review test strategies, test scenarios, and edge cases.

• Formulate, coordinate, and supervise User Acceptance Testing (UAT) with key business stakeholders; manage defect triage and prioritization.

• Assist in standard operating procedure (SOP) updates, user training material development, and go-live cutover support.

Required Qualifications & Experience

• Education: Bachelor's degree in Business Administration, Information Systems, Computer Science, Finance, or a related discipline.

• Experience:

  • 4-7+ years of Business Analyst experience within financial services, with at least 3 years specifically in Life Insurance.

  • Proven track record participating in a major core insurance system revamp, replacement, or large-scale migration (e.g., platforms such as DXC/CSC, BaNCS, eBaoTech, SAP for Insurance, Guidewire, or custom modern cloud stacks).

• Domain Knowledge: Strong functional understanding of individual or group life insurance products and the end-to-end policy lifecycle:

  • New Business & Automated/Manual Underwriting

  • Policy Servicing / Alterations

  • Billing & Collections

  • Claims Assessment & Settlement

  • Reinsurance & Regulatory Reporting