Product Analyst

Education:

Any Graduation or PG with knowledge in Insurance Domain.

Resource Availability:

immediately or a maximum period of 30 days.

Required Skills:

• Knowledge of insurance domain / business, Insurance business work flows.
• Strong Knowledge of All Lines of Business (LOB) in P&C Insurance.
• Knowledge of AAIS and ISO as an Added Advantage.
• Underwriting policies (property and casualty and other lines of insurance).
• Quote processing, Identifying Risk items, Risk assessment/estimation, Coverages and risk protection.
• Policy Rating/Premium Calculations, Underwriting rules, Billing, Policy issuance/Renewals/Endorsements, Loss handling, Claims processing and Settlement.
• Job involves developing Rating system for policy admin application. This demands very good comprehension, analytical skills, usage of excel worksheets, preparation of rating algorithm / steps (premium calculation for policy) and setting them up on a product configurator application.

Job Competency:

• Should be sharp, have basic understanding of programming (not programming experience) and able to develop rating steps (involving formulas, expressions, arithmetic calculations).
• Ability to work independently, self driven and have passion to excel in insurance domain.
• Candidate should have logical thinking.
• Basic IT knowledge and desire to work with an IT company which develops policy administration systems (PAS) and related applications for insurance companies.
• Good communication skills to interact with customer/customer team and ability to understand requirements for implementing an insurance system/application.

Job Roles & Responsibilities:

• It is a product/system implementation support role.
• Involve in developing new system (insurance application) from an existing system.
• Attend customer meetings along with system implementation team members.
• Refer existing system manuals/guides for business rules and rate details.
• Extract business rules of existing system from manuals/guides/notes etc.
• Extract rating steps, rates etc of existing system from manuals/guides/notes etc.
• Consolidate business rules , Rate Steps, Rate details.
• Set up extracted business rules in new system using Configurator Application (Hosts entire configuration of system).
• Set up extracted rate details in new system using Configurator Application.
• Set up any other data required for building new system using Configurator Application.
• Interact with system implementation team(System developers, Quality Assurance Team members), coordinate with them and implement new system.
• Test functionality of new system.
• Deliver new system to customer.