Job Description
We are seeking an experienced Lead Business Analyst with a strong background in the life insurance industry to join our team. The Lead Business Analyst will play a key role in driving business solutions, managing complex projects, and ensuring alignment between business needs and technology systems. This individual will work closely with stakeholders across the organization, including product, technology, operations, and actuarial teams, to ensure successful delivery of business-critical initiatives. The ideal candidate will have a deep understanding of life insurance products, business processes, and a proven track record in leading cross-functional teams to deliver impactful solutions.
Responsibilities
Objectives of this role
- Stakeholder Engagement: Collaborate with business stakeholders to gather, analyze, and document requirements for life insurance projects.
- Requirement Analysis: Lead efforts in gathering and documenting business requirements for life insurance products, services, and processes. Identify and define business needs and translate them into actionable technical requirements, ensuring alignment with organizational goals.
- Process Improvement: Evaluate existing business processes and workflows to identify areas for improvement and optimization within life insurance operations.
- Data Analysis: Conduct data analysis to support decision-making processes, identifying trends, insights, and opportunities for enhancing life insurance products and services.
- Change Management: Assist in change management initiatives to ensure smooth transitions for stakeholders and users when implementing new systems or processes.
- Risk Assessment: Evaluate and mitigate potential risks associated with product development and regulatory compliance in life insurance, ensuring the business remains compliant with industry standards.
- Report Development: Create and present analytical reports that support strategic planning and service improvements in the life insurance sector.
Key Responsibilities
- Project Leadership: Oversee and coordinate cross-functional project teams to deliver projects on time and within budget, ensuring adherence to project management methodologies.
- Cross-Functional Collaboration: Work closely with IT, underwriting, compliance, and actuarial teams to ensure effective implementation of projects and solutions.
- User Acceptance Testing: Oversee the design and execution of testing strategies to validate that project deliverables meet business requirements.
- Regulatory Compliance: Ensure that all projects and processes comply with industry regulations and standards related to life insurance.
- Training and Support: Provide training and support to business users on new systems, processes, and functionalities related to life insurance.
- Reporting and Documentation: Create comprehensive documentation, including business requirements documents, process maps, and user guides, to support ongoing operations.
- Continuous Improvement: Stay abreast of industry best practices and emerging technologies, recommending changes that enhance the organization's business analysis processes.
- Life Insurance Product Expertise:
- Provide expert knowledge of life insurance products (e.g., term life, whole life, universal life, variable life), underwriting processes, policy administration, claims processing, and distribution channels.
- Stay updated on trends in the life insurance industry, including new product innovations, regulatory changes, and emerging technologies that could impact business operations.
Education
QUALIFICATIONS
- Bachelor's degree in Business Administration, Finance, Insurance, or a related field (Master's degree is a plus).
- Relevant certifications (e.g., Certified Business Analysis Professional (CBAP), or certifications related to life insurance or actuarial sciences) are highly desirable.
Experience
- Minimum of 7+ years of experience as a Business Analyst in the life insurance industry, with a proven track record in managing large, complex projects.
- At least 3+ years of experience in a leadership or mentoring role, overseeing teams of business analysts.
- Deep understanding of life insurance products, underwriting, claims, policy administration, and actuarial processes.
- Strong experience in process mapping, business process reengineering, and implementing solutions to improve operational efficiency.
- Proven experience in requirements gathering, business analysis, and working with IT teams to design and deliver solutions.
- Experience working in agile project management environments (Scrum, Kanban, etc.) is a plus.
Skills & Competencies
- Analytical Skills: Ability to analyze complex business challenges, define clear requirements, and translate them into effective solutions.
- Communication Skills: Excellent verbal and written communication skills, with the ability to communicate technical concepts to non-technical stakeholders.
- Leadership: Strong leadership skills, with the ability to manage and mentor a team of business analysts and work collaboratively across departments.
- Problem-Solving: Strong problem-solving abilities with a focus on providing innovative solutions that drive business value.
- Regulatory Knowledge: Knowledge of the regulatory environment governing life insurance products and operations.
- Stakeholder Management: Ability to manage relationships with senior leadership, business stakeholders, and third-party vendors.
About Us
Our People, Our Culture
For more than 50 years, Verisk has helped property and casualty insurers make smarter decisions about risk through AI-powered risk modeling, advanced analytics, and technology solutions spanning the entire policy lifecycle. We are a leading strategic data, analytics, and technology partner to the global insurance industry, guided by core values of learning, caring, and results while maintaining the highest ethical standards as stewards of the industry's most comprehensive datasets. Learn more about Verisk and what we are doing within the insurance industry.
When you join Verisk, you become part of a diverse global team with over 7,500 professionals in 30 plus countries, making work that matters. We're certified by Great Place to Work, reflecting our commitment to inclusivity, employee engagement, and wellbeing. At Verisk, your growth is a priorityfrom professional development and tuition benefits to a supportive, flexible workplace culture, we support your continued growth.
Our Culture : Explore our inclusive, people-first culture that fosters innovation, collaboration, and belonging.
Awards & Recognition : See why Verisk is consistently recognized as a Great Place to Work around the world.
Our Businesses : Learn about the diverse industries we serve from insurance and energy to financial services and beyond.
Life at Verisk : Discover what it's like to work at Verisk through employee stories, team highlights, and culture moments.
Careers at Verisk : Join a global team of problem-solvers and innovators doing meaningful work that's shaping the future of industries. Whether you're just starting out or looking to take your career to the next level, Verisk offers growth, purpose, and a people-first culture
Let's build something meaningful together!
Verisk Analytics is an equal opportunity employer.
All members of the Verisk Analytics family of companies are equal opportunity employers. We consider all qualified applicants for employment without regard to race, religion, color, national origin, citizenship, sex, gender identity and/or expression, sexual orientation, veteran's status, age or disability. Verisk's minimum hiring age is 18 except in countries with a higher age limit subject to applicable law.
At Verisk, we provide a competitive compensation package aligned with market benchmarks and individual experience, disclosed transparently in accordance with applicable pay transparency regulations. In addition to base salary, eligible roles may include a range of incentive opportunities designed based on market research and our internal grading structure.
Our benefits portfolio varies by location; however, a typical package includes medical coverage, life insurance, pension plans, and paid time off in line with local labor laws.
We also foster a work environment focused on well-being and career development. Additional perks may include wellness initiatives, fitness programs, and team-building activities.
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