Verisk Information Technologies

• Salary: Not disclosed
• Location: Hyderabad
• Key Skills: Accounting

Job Description:

Job description 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 organizations 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. Qualifications Experience: Education: 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 : Excel