Bengaluru, Karnataka
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 robust plus)

.

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

.

Other Requirements
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📌 Lead Business Analyst (Bengaluru)
🏢 HCLTech
📍 Bengaluru