Essential Insurance knowledge a business analyst should possess for a BA job in insurance domain
Business Analyst role is to analyze the business processes, provide the right mixture of technical and functional know how to the development of software projects within an organization. If we talk specifically about an Insurance organization, the business analyst will have to possess the right niche of Insurance knowledge as well as be fluent in the latest technologies.
Find many BA Interview Questions, Ask Interview Questions and get expert answers, Find many Sample resumes or Request one professionally written for you for FREE : please visit: http://crackinterviews.com/blog/
The major responsibilities of a business analyst should be to analyze the business processes, gather the requirements and and finally document those requirements in line with the strategic initiatives of the Insurance company. But in order to provide solutions which are innovative and cater to the nuances of the insurance industry, its essential that the business analyst should have an understanding of the insurance processes, modules, concerned departments and latest technologies available in the market. This will enable the business analyst to identify any project or business related risks and if present, to propose suitable action to mitigate those risks. Along with ability to do the requirement analysis and documentation, business analysts should be proficient in other vital activities such as good communication skills, project management, Testing skills, providing user acceptance testing support. The specific user requirements in any particular industry are different and its true for the insurance industry where the workings of the sales, HR, operations and other teams are unique and so should be the systems and processes built around them.
Functional requirements of a prospective business analyst candidate is that he has demonstrable experience in an insurance company, worked on insurance applications catering to the various modules of insurance like new business, channel management, policy servicing, claims management, underwriting, reinsurance and Finance. The prospective business analyst candidate should be aware about the business processes and workings of the insurance company. The candidate should also be aware of the requirements which are given by the regulatory authority of the insurance industry. There are various terminologies which are unique to the insurance industry whether its life, general, health insurance. Knowing the terminology relevant to the insurance industry will help the business analyst in understanding the user’s expectations and needs and will be able to effectively convert these expectations to requirements. There are various streams of insurance industry where a business analyst can add value:
a) Life Insurance – where the risk of mortality, critical illness is covered. Basic knowledge of the various modules and special regulatory guidelines are required
b) General Insurance – Includes fire, household, marine, motor and other such streams of insurance. The operations of this domain is different that the life insurance and the knowledge of operations intricacies, reinsurance business processes are vital for a business analyst
c) Health Insurance – covers the risk of morbidity and the specific know how required of this stream is the operations of the panel doctors, cashless reimbursements, co payments and other such typical health insurance terminology.
A Business Analyst seeking a job in an insurance company should be experienced in the technologies such as MS – office tools(which include Word, Excel, Powerpoint, Visio, Project), Relational Databases(Querying and support), basic programming skills in languages such as ASP.NET, JAVA/J2EE, XML, HTML. Also required are experience in specific insurance business applications, content management systems, Portals, data warehousing tools. These tools will enable the candidate in the future projects in which the customization and change management will be required. For the successful implementation of such projects , it essential that the business analyst has prior knowledge of such software systems or packages.
So, in summary, a prospective business analyst should come from an insurance background with the knowledge of the insurance business processes and relevant software packages.
For more BA Questions, Sample Resumes and Open Jobs – please visit: http://futurethoughtsllc.com/InterviewQuestionsandAnswers.aspx
Business Analyst Resume for Insurance Domain:
Name:
Address:
Phone:
Email:
Summary:
X years of Business Analysis experience with in-depth knowledge of business processes in Insurance, industries. A thorough understanding of the Software Development Life Cycle (SDLC) including but not limited to the various concepts such as Requirement Gathering, Experience in the development of Client-Server and Web-Based Applications. Possess a detailed-oriented nature with excellent communication, interpersonal, problem solving skills, and recognized for being a valued team player.
- Proficient in all phases of Requirement Management, including gathering, analyzing, detailing and tracking requirements.
- Experienced in documenting requirement using Unified Modeling Language (Use Case and Activity Diagrams) also building business Process Flow Charts using tools such as Visio and Rose.
- Skilled at reviewing test cases making sure they are in accordance with requirements, and assist the overall testing process by activities such as Change and Defect Management and conducting User Acceptance Testing.
- Strong understanding of various SDLC methodologies such as RUP, Waterfall and Agile with hands on experience in all of them.
- Excellent communication skills and adept at facilitating walkthrough and training sessions.
Technical Expertise:
Operating Systems
MS Windows, DOS, UNIX
RDBMS
MS Access, SQL, Oracle
SDLC Methodologies
Rational Unified Process, Waterfall Methodology, Agile
Tracking Management Tools
TestDirector, Rational ClearQuest, ReqPro
ERPs
SAP (BW)
Software Eng Tools
MS Office, MS Project, MS Visio, MS Dreamwaver.
Web Technologies
HTML, XML
Modeling Tools
Rational Rose, MS Visio
Professional Experience:
Insurance duration
Business Analyst
The project was to build an online insurance handling application that would facilitate the users find the right insurance for their individual needs. The application required the user to login with a valid user id and password to authenticate the person. After authentication, they can learn about insurance, get a quote, retrieve a quote or buy an online insurance policy. They can also file a claim or pay their monthly payments online.
Responsibilities:
- Thoroughly studied the inherent systems to have a clear understanding of the business processes and associated system workflow.
- Conducted Gap analysis to understand new business model and additional functionalities to be incorporated into the new application.
- Conducted JAD sessions for better understanding and refining of requirements in coordination with multiple teams.
- Clarified and prioritized requirements by conducting brainstorming sessions with the stakeholders and SMEs.
- Documented various documents including the Business Requirements Document and the Use Case Specification Documents.
- Used Rational Requisite Pro as requirement gathering tool.
- Identified all use case components including basic, alternate and exception flows.
- Participated in various architectural development sessions to provide technical teams with a better understanding of the requirements.
- Analyzed Requirements and created Use Cases, Use Case Diagrams, Activity Diagrams using MS Visio.
- Gathering business requirements and converting them into functional requirement specifications and user requirement specifications. Used Rational Requisite Pro for Requirement Document preparation.
- Carried out detailed and comprehensive business analysis with the RUP methodology.
- Prepared Business Process Models, which included modeling of all activities of the business from conceptual to procedural level.
- Participated in Change control meetings recommending appropriate action after analysis of changing requirements.
- Conducted multiple interviews to clarify requirements in order to identify use cases and document UC Specifications.
- Assisted QA team by Reviewing test cases and clarifying requirements to ensure complete coverage of requirements.
- Provided training to users, and involved in conducting UAT sessions to gain user confidence and approval.
- Provided project manager with regular status updates assisting the overall project management initiative.
- Performed requirement walkthroughs with the Dev. and QA teams with the aim to develop testing strategies and test plans such that test cases reflect user needs.
- Conducted UAT sessions to approval.
- Worked extensively with MS office suite for preparing status reports.
Find many BA Interview Questions, Ask Interview Questions and get expert answers, Find many Sample resumes or Request one professionally written for you for FREE : please visit: http://crackinterviews.com/blog/
