Job Summary
Job Overview
- Job Title: Senior / Lead Business Analyst – Insurance (Life, Wealth, Agency & Banca)
- Location: Bangalore
- Department: Insurance Strategy & Digital Transformation
- Experience Level: 7+ years
- Reporting To: Product Manager / Program Director
Candidate must possess a strong hybrid background. They should not only understand Core Life Insurance policy administration systems but must also demonstrate hands-on experience designing Advisor portals (Agency), configuring Wealth/Investment-Linked products (ILAS), and integrating native sales journeys within Banking platforms (Bancassurance)
Key Responsibilities
1. Domain-Specific System & Process Design
- Life & Wealth Management: Define, map, and implement end-to-end client and Advisor journeys for traditional Life products (Par/Non-Par) and Wealth/Investment-Linked Insurance Products (ILAS)
. Collaborate with Actuarial and Product teams to validate sales illustrations, product rules, calculations, and rate tables
.
- Agency Channel: Design and optimize features for agent-facing portals, including Lead Management, Commission/Compensation structures, Sales Pipelines, and performance monitoring dashboards
.
- Bancassurance (Banca) Channel: Map native digital sales journeys within partner bank ecosystems. Ensure automated, real-time data flow for quick customer onboarding via bank teller systems or digital banking applications
.
2. Business Analysis & Requirements Engineering
- Elicitation & Documentation: Lead requirement-gathering workshops with diverse stakeholders (Actuarial, Sales, Compliance, Operations, and IT)
. Author high-quality Business Requirement Documents (BRDs), Functional Specification Documents (FSDs), and Agile User Stories
.
- Process Modeling: Map "As-Is" vs "To-Be" workflows to optimize policy administration, claims processing, underwriter routing, and digital onboarding
.
- Gap Analysis & Product Configuration: Conduct detailed feasibility studies and gap analyses for onboarding new insurance products onto existing platforms
.
3. Project Execution & Governance
- Stakeholder Bridge: Serve as the crucial link between business leaders, channel partners (Banca banks/Agency heads), and the development team
.
- Agile Delivery: Partner with scrum masters and product owners in sprint planning, backlog grooming, and prioritizing deliverables in Jira
.
- UAT & Quality Assurance: Define test scenarios and coordinate User Acceptance Testing (UAT) to ensure software delivery aligns perfectly with compliance and product specs
Skill Requirements
- Domain Knowledge: Deep understanding of the Life Insurance lifecycle (New Business, Underwriting, Policy Servicing, Claims) along with Annuity and Wealth Management portfolios
.
- System Exposure: Hands-on exposure to Core Policy Administration Systems (e.g., LifeAsia, OIPA, Guidewire, etc.), Sales Illustration tools, and CRM/Agency Portals
.
- Technical BA Toolkit: Proficient in Jira, Confluence, Visio/Lucidchart (for UML & process flows), and SQL/Advanced Excel for data profiling
.
- Regulatory Acumen: Familiarity with local regulatory compliance frameworks governing Bancassurance partnerships and Wealth product distribution
.
🎓 Qualifications & Experience
- Experience: 7+ years of Business Analysis experience in Financial Services, with at least 3 years explicitly focused on Life Insurance & Wealth/Investment-Linked lines
.
- Education: Bachelor’s degree in IT, Business Administration, or Finance (MBA or FLMI/ALMI certifications are a strong plus)
.
- Agile Certification: Certified Scrum Product Owner (CSPO), Professional Scrum Product Owner (PSPO), or SAFe Product Owner/Product Manager (POPM) is highly preferred
.