Position: Product Analyst
Domain Knowledge: Insurance (Mandatory)
Job Type: Permanent
Location: Hyderabad - IDA Cherlapally, ECIL and Divyasree Trinity, Hi-Tech City.
Experience: 6+ yrs.
Education: Any Graduation or PG with knowledge in Insurance Domain.
Resource Availability: immediately or a maximum period of 30 days.
Required Skills:
- Knowledge of insurance domain / business, Insurance business work flows.
- Strong Knowledge of All Lines of Business (LOB) in P&C Insurance.
- Knowledge of AAIS and ISO as an Added Advantage.
- Underwriting policies (property and casualty and other lines of insurance).
- Quote processing, Identifying Risk items, Risk assessment/estimation, Coverages and risk protection.
- Policy Rating/Premium Calculations, Underwriting rules, Billing, Policy issuance/Renewals/Endorsements, Loss handling, Claims processing and Settlement.
- Job involves developing Rating system for policy admin application.
- This demands very good comprehension, analytical skills, usage of excel worksheets, preparation of rating algorithm / steps (premium calculation for policy) and setting them up on a product configurator application.
Job Competency:
- Should be sharp, have basic understanding of programming (not programming experience) and able to develop rating steps (involving formulas, expressions,arithmetic calculations).
- Ability to work independently, self driven and have passion to excel in insurance domain.
- Candidate should have logical thinking.
- Basic IT knowledge and desire to work with an IT company which develops policy administration systems (PAS) and related applications for insurance companies.
- Good communication skills to interact with customer/customer team and ability to understand requirements for implementing an insurance system/application.
Job Roles & Responsibilities:
- It is a product/system implementation support role.
- Involve in developing new system (insurance application) from an existing system.
- Attend customer meetings along with system implementation team members.
- Refer existing system manuals/guides for business rules and rate details.
- Extract business rules of existing system from manuals/guides/notes etc.
- Extract rating steps, rates etc of existing system from manuals/guides/notes etc.
- Consolidate business rules , Rate Steps, Rate details.
- Set up extracted business rules in new system using Configurator Application (Hosts entire configuration of system).
- Set up extracted rate details in new system using Configurator Application.
- Set up any other data required for building new system using Configurator Application.
- Interact with system implementation team(System developers, Quality Assurance Team members), coordinate with them and implement new system.
- Test functionality of new system.
- Deliver new system
