– Insurance Business Analyst

Job Title: Insurance Business Analyst

Location: India

Experience: 4–8 Years (Preferred)

Department: Product & Technology / Digital Transformation

Job Summary

We are seeking a highly skilled Insurance Business Analyst with strong expertise in requirement gathering, insurance product implementation, API integrations, and project delivery

. The ideal candidate should possess in-depth knowledge of the Indian Insurance industry , including Life, General, Health Insurance products , and experience working with

Bancassurance (Banca) channels . The candidate will act as a liaison between business stakeholders, insurers, technology teams, and external partners to ensure successful product development and implementation.

Key Responsibilities

Business Analysis & Requirement Gathering

- Engage with business stakeholders, insurers, banking partners, and technical teams to gather and document business requirements.
- Conduct requirement workshops, stakeholder interviews, and gap analysis sessions.
- Prepare and manage Business Requirement Documents (BRD), Functional Requirement Documents (FRD), User Stories, Process Flows, and Use Cases.
- Analyze current business processes and recommend process improvements.

Insurance Product Development

- Understand and analyze Life, Health, Personal Accident, Motor, Travel, and Group Insurance products.
- Support end-to-end product configuration, implementation, and launch activities.
- Coordinate with insurance partners to understand product rules, underwriting guidelines, and policy issuance processes.
- Ensure product requirements comply with IRDAI guidelines and business objectives.

API Integration & Digital Implementation

- Work closely with development teams and insurer partners for API-based integrations.
- Understand REST/SOAP APIs, JSON/XML payloads, authentication mechanisms, and integration workflows.
- Analyze API specifications and prepare functional mapping documents.
- Support testing and validation of insurer APIs for Quote, Proposal, Payment, Policy Issuance,



Endorsement, and Claims processes.
- Troubleshoot integration issues and coordinate resolution with technical teams.

Project Management & Delivery

- Participate in end-to-end project lifecycle management from requirement gathering to deployment.
- Coordinate with cross-functional teams including Product, Development, QA, Operations, and Business teams.
- Track project milestones, risks, dependencies, and deliverables.
- Support UAT planning, execution, and sign-off processes.
- Ensure timely project delivery while maintaining quality standards.

Bancassurance (Banca) Channel Support

- Understand Bancassurance business models and customer journeys.
- Work with banking partners and insurers for product onboarding and implementation.
- Support integration of insurance products into banking platforms and sales journeys.
- Analyze and optimize customer acquisition and policy servicing processes.

Required Skills & Qualifications

Functional Skills

- Strong knowledge of Indian Insurance industry and IRDAI regulations.
- Experience in Life Insurance, General Insurance, Health Insurance, or Group Insurance products.
- Good understanding of Bancassurance channel operations.
- Strong requirement elicitation and documentation skills.

Technical Skills

- Hands-on experience in API Integration projects.
- Understanding of REST APIs, SOAP Services, JSON, XML, and Web Services.
- Experience in API testing tools such as Postman or Swagger.
- Knowledge of system integration and digital insurance platforms.
- Familiarity with Agile/Scrum methodologies.

Analytical Skills

- Robust problem-solving and analytical thinking.




- Excellent stakeholder management and communication skills.
- Ability to translate business requirements into functional specifications.
- Experience in process mapping and workflow analysis.

Preferred Qualifications

- Bachelor's degree in Engineering, Computer Science, Information Technology, Business Administration, or related field.
- Insurance certifications (LOMA, III, NIA, or equivalent) will be an added advantage.
- Experience working with InsurTech, Insurance Aggregators, Brokers, or Bancassurance platforms preferred.

Key Deliverables

- BRD / FRD Documentation
- Process Flow Diagrams
- API Requirement & Mapping Documents
- User Stories & Acceptance Criteria
- UAT Test Cases & Sign-off Documents
- Product Launch and Implementation Support

Experience Preferred

- 4–8 years in Business Analysis.
- Minimum 3 years in Insurance domain.
- Experience in at least one end-to-end Insurance Product Development and API Integration project.
- Exposure to Bancassurance implementations and digital insurance platforms.

About MPT Muthoot’s IT Division, MPT is one of the Group Companies of Muthoot Pappachan Group. Today information Technology is transforming our world at a stunning pace. Simplifying life in several ways, IT has emerged as the fulcrum around which the whole world is rotating.

Muthoot Pappachan

Group has already made a foray into the exciting world of IT with Muthoot Pappachan Technologies Limited. (MPT). Launched at Technopark in Trivandrum the company is providing cutting edge IT support to the group companies. We are also providing a wide portfolio of products and services to our external clients, this includes cloud solutions, technology/ innovation consulting services, product implementation services, application development & maintenance/hosting services, ERP/loan management product implementation, android development, infrastructure management, data warehousing & business intelligence, virtualization & green technologies.

📌 Lead Business Analyst-Insurance (Thiruvananthapuram)
🏢 MUTHOOT PAPPACHAN TECHNOLOGIES
📍 Thiruvananthapuram