Lead Business Analyst

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

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• Agency Channel: Design and optimize features for agent-facing portals, including Lead Management, Commission/Compensation structures, Sales Pipelines, and performance monitoring dashboards

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• 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

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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

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• Process Modeling: Map "As-Is" vs "To-Be" workflows to optimize policy administration, claims processing, underwriter routing, and digital onboarding

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• Gap Analysis & Product Configuration: Conduct detailed feasibility studies and gap analyses for onboarding new insurance products onto existing platforms

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3. Project Execution & Governance

• Stakeholder Bridge: Serve as the crucial link between business leaders, channel partners (Banca banks/Agency heads), and the development team

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• Agile Delivery: Partner with scrum masters and product owners in sprint planning, backlog grooming, and prioritizing deliverables in Jira

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• 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

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• System Exposure: Hands-on exposure to Core Policy Administration Systems (e.g., LifeAsia, OIPA, Guidewire, etc.), Sales Illustration tools, and CRM/Agency Portals

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• Technical BA Toolkit: Proficient in Jira, Confluence, Visio/Lucidchart (for UML & process flows), and SQL/Advanced Excel for data profiling

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• Regulatory Acumen: Familiarity with local regulatory compliance frameworks governing Bancassurance partnerships and Wealth product distribution

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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

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• Education: Bachelor’s degree in IT, Business Administration, or Finance (MBA or FLMI/ALMI certifications are a strong plus)

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• Agile Certification: Certified Scrum Product Owner (CSPO), Professional Scrum Product Owner (PSPO), or SAFe Product Owner/Product Manager (POPM) is highly preferred

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Other Requirements