Persistent Systems Lead Business Analyst Interview Questions and Answers

Q1. None, they asked basis the resume
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Q1. Insurance life cycle
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Q2. What is loss ratio and what is the formula
Ans. 
Loss ratio is a key performance indicator used in insurance to measure the profitability of underwriting. The formula is (Incurred Losses + Loss Adjustment Expenses) / Earned Premiums.
• Loss ratio is a ratio used in insurance to assess the profitability of underwriting.

• The formula for loss ratio is (Incurred Losses + Loss Adjustment Expenses) / Earned Premiums.

• A lower loss ratio indicates better underwriting performance,...read more
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Q1. Tell me about your self
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Q2. What is the difference between qs and surplus
Ans. 
QS is the quantity supplied in the market while surplus is the excess of quantity supplied over quantity demanded.
• QS refers to the amount of a good or service that producers are willing to sell at a given price

• Surplus occurs when the quantity supplied exceeds the quantity demanded at a given price

• Surplus can lead to lower prices as producers try to sell off excess inventory

• QS is a key factor in determining market equil
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Q1. Scenario based questions
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Q1. Client interview
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Q1. Salary Negotiation
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Q1. Explain Claims Lifecycle
Ans. 
Claims Lifecycle is the process of handling insurance claims from start to finish.
• The process starts with the submission of a claim by the policyholder.

• The claim is then reviewed by the insurance company to determine coverage and validity.

• If approved, the claim is processed and payment is made to the policyholder.

• If denied, the policyholder may appeal the decision or take other actions.

• The process ends when the claim i...read more
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Q2. What are the important attributes that should flow from policy to claims system
Ans. 
Attributes that should flow from policy to claims system
• Accurate policy information

• Clear coverage details

• Validated policy limits

• Proper claim adjudication

• Timely claim processing

• Effective communication with policyholders
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Q3. What according to you are the important considerations for a user story
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Important considerations for a user story
• Clear and concise description of the user's goal or need

• Specific acceptance criteria to define success

• Proper prioritization based on business value

• Inclusion of relevant stakeholders

• Testability and measurability of the user story
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Q4. Claims concepts like Subrogation, Salvage etc.
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Test on apptitude reasoning

General topics gd

Q1. Technical questions o
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Q1. Salary discussion and general
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