Lead Business Analyst-Insurance

Job Description Insurance Business AnalystJob Title: Insurance Business Analyst Location: India Experience: 48 Years (Preferred) Department: Product & Technology / Digital Transformation Job SummaryWe 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 ResponsibilitiesBusiness Analysis & Requirement GatheringEngage 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 DevelopmentUnderstand and analyze Life, Health, Personal Accident, Motor, Travel, and Group Insurance products.Support end-toend 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 ImplementationWork 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 & DeliveryParticipate in endtoend project lifecycle management from requirement gathering to deployment.Coordinate with crossfunctional teams including Product, Development, QA, Operations, and Business teams.Track project milestones, risks, dependencies, and deliverables.Support UAT planning, execution, and signoff processes.Ensure timely project delivery while maintaining quality standards.Bancassurance (Banca) Channel SupportUnderstand 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 & QualificationsFunctional SkillsStrong 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 SkillsHandson 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 SkillsStrong problemsolving 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 QualificationsBachelor'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 DeliverablesBRD / FRD DocumentationProcess Flow DiagramsAPI Requirement & Mapping DocumentsUser Stories & Acceptance CriteriaUAT Test Cases & Signoff DocumentsProduct Launch and Implementation SupportExperience Preferred48 years in Business Analysis.Minimum 3 years in Insurance domain.Experience in at least one endtoend Insurance Product Development and API Integration project.Exposure to Bancassurance implementations and digital insurance platforms.About MPTMuthoots 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 .