Pls find below JD

Position Id

Domain

Life Insurance

JD_Business Analyst-Insurance-Life

Retirement Services & Annuities

JD_Business Analyst-Insurance-RS

Business Analyst Open

- 7-10 Years
- 1 Position: 1 Open

Bangalore/ Chennai / Hyderabad / Pune

- Full Time

Job Description

Senior Business Analyst/ Insurance Domain SME

Location: Bangalore/Chennai

Who are we looking for?

We are seeking an experienced Business Analyst with deep expertise in the U.S. Life Insurance domain to support testing and business validation initiatives. The candidate will play a critical role in understanding complex life insurance product requirements and ensuring end-to-end system quality, compliance, and accuracy.

Location Bangalore/Chennai with 8 to 12 years of experience (Level 5). Strong Business domain skills and exposure to end-to-end testing.

The role focuses on bridging business requirements and QA teams, ensuring high-quality delivery of Life insurance products

Functional Skills:

Business Analyst

Primary Skills:

- Insurance domain SME with US based Life and Annuity domain knowledge
- Strong understanding of Life insurance including:
- Term Life Insurance
- Whole Life Insurance
- Universal Life (UL)
- Variable Universal Life (VUL)
- Indexed Universal Life (IUL)

- Policy Life Cycle knowledge

- New Business / Policy Issuance
- Underwriting
- Policy servicing:
- Endorsements & rider additions
- Premium payments & billing

- Policy changes:

- Face amount change
- Beneficiary updates

- Claims processing:

- Death claims
- Maturity benefits

- Policy termination:

- Lapse, surrender, reinstatement

- Risk Assessment

- Risk classification (Preferred, Standard, Substandard)

- Financial & Actuarial Concepts

- Premium calculations
- Cash value accumulation (whole/UL products)
- Surrender charges
- Loan processing against policy
- Dividend handling (participating policies)

- Regulatory & Compliance

- U.S.



insurance regulations (state-specific compliance)
- NAIC guidelines
- AML/KYC requirements
- Policy disclosures
- Customer communications

- Familiarity with Policy Administration Systems (PAS) applications, ALIP, Callidus
- Participating in UAT (User Acceptance Testing), including test case preparation, execution support, and defect tracking
- Testing Support :Validate end-to-end business flows, including:

- Policy issuance with underwriting variations
- Premium payment schedules and lapsation
- Loan and withdrawal processing
- Death claim payout calculations

Secondary Skills:

- Functional testing knowledge, Functional test design. Insurance domain knowledge
- Consulting Engagements: Partner with clients on various consulting projects, providing expertise and guidance on life insurance administration.
- Training and Mentoring: Provide training and support to less experienced team members to ensure knowledge sharing and skill development.
- Communication skills: verbal, both one-on-one and with a group, and written
- Tools Knowledge
- JIRA / Azure DevOps / HP ALM
- Confluence / SharePoint
- SQL (for data validation)
- Excel (financial/data analysis)

Certifications:

- CBAP / CCBA
- Agile certification (CSM/PSM)

Qualification:

- Any degree

What is it for you?

- At Mphasis, we promise you the perfect chance of building technical excellence, understanding business performance and nuances, be abreast of the latest happenings in technology world and enjoy a satisfying work life balance.
- With the current opportunity, you will get to work with the team that has consistently been setting benchmarks for other deliveries in terms of delivery high CSATs, project completion on time and being one of the best teams to work for in the organization.
- You get an open and transparent culture along with freedom to experiment and innovation.
- **(Include any other points specific to the team/ project is required)

About the practice/ Project:

Insurance, Retirement services, Annity

📌 Business Analyst with Insurance, Policy, Annuities - Mphasis (Hyderabad)
🏢 Intellics Global Services Mumbai
📍 Hyderabad