Overview: We are seeking a highly skilled Business Analyst with in-depth knowledge of General Insurance processes and systems in Indian Landscape. The ideal candidate will possess strong domain expertise across various types of GI (incl Health, Motor, P&C, Liability Insurance) and understand the Insurance business processes like quote and proposal management, policy issuance, underwriting, claims processing, and distribution. There should be an understanding of the insurance ecosystem; comprising various internal/external stakeholders (surveyors,TPA, provider network etc) and various system integrations like PAS, BREs, WF engines etc.
Key Responsibilities:
- Collaborate with stakeholders to gather, analyze, and document business requirements.
- Facilitating designing a best-in-class claims platform and engagement journeys for insurance products.
- Understand and map out the end-to-end workflows of general insurance products, from quote generation, policy issuance, claims, servicing and renewals.
- Provide domain expertise in Insurance Claims Processes including Health, Motor, Property & Casualty, and other relevant areas.
- Collaborate with stakeholders to gather requirements, define project scope, and deliver actionable insights.
- Develop Business Requirement Documents (BRD), Use Cases, Flowcharts and User Stories to support system enhancements and process improvements.
- Identify process improvements and recommend solutions to enhance operational efficiency.
- Analyze and document insurance processes and systems within the company.
- Delivering projects for insurers in areas spanning operations transformation, cost reduction, digital transformation, platforms implementation, automation,distribution and marketing transformation
- Insurance Platform certifications or system experience e.g., Duckcreek, Guidewire, BanCs, BPM, etc. will be an advantage
- May plan, allocate and monitor work of other business analysts
- Create complex test case scenarios to be used in testing; monitor/oversee the testing of business applications to verify that all client requirements are incorporated into the system design thereby supporting QA, UAT and Release phases of the project
- Stay updated with industry trends and regulatory changes affecting insurance in India.
Qualifications:
- Minimum of 6years of experience in business analysis within the general insurance sector in India.
- Strong knowledge of Claims Processing of all lines of business (health, motor, property, casualty, liability, marine), claims auto-adjudication, underwriting (new business, endorsement, renewal), and other Insurance business processes specific to the Indian market.
- Previous experience working in the insurance industry (Health, Motor, P&C) is required
- Knowledge of insurance value chain spanning distribution, underwriting, policy, customer service and one or more insurance domains such as Health insurance, Motor insurance, Life insurance, P&C insurance or Re-insurance
- Business analysis skills including facilitation, process documentation, requirements gathering and user acceptance testing
- Ability to work collaboratively with cross-functional teams and manage multiple priorities.
- Proficiency in using business analysis tools such as Jira, Confluence, or similar Agile management softwares.
- Excellent analytical, problem-solving, and communication skills.
- Excellent written and verbal communication skills in English
Preferred Skills:
- Experience in Individual/Group Health, Motor, General Insurance (Non-Motor) or Reinsurance is a plus.
- Exposure to working knowledge of engines of rating, rules, workflow management, will be preferred.
- Working in an IT Company or IT department of an insurance company, wherein the individual was/is involved in scoping for new /change requirements, and facilitating development of the same from the application standpoint will be an added advantage.
- Insurance Domain Certification from INS/III/LOMA or equivalent domain-related qualifications is an added advantage.
- Understanding of Insurtech trends and emerging digital transformation strategies.
- Knowledge of regulatory requirements and compliance issues in the Indian health insurance sector.
