Let us discuss and observe what Business Analyst does if Business Analyst works in Insurance domain. As we discussed earlier Business Analyst works in multiple domains, For Example: Banking, Insurance, Telecom, Real estate, Healthcare etc. A Insurance Business Analyst is a business analyst who works in the Insurance domain.
BusinessAnalyst on insurance domain also performs the standard business analyst tasks such as Requirements Gathering, Requirements Elicitation, Prepare Documentation, verification, validation and coordinate and support during the UAT in Insurance domain perspective.
Business Analyst have knowledge on Insurance process like, how it works, what are the functionalities and what are the modules in Insurance.
Basically, Insurance Business should have knowledge and experience on below.
- New Business Process
- Policy Serving process
- Claim process and settlement life cycle.
So, Business Analyst should have experience and knowledge on specialized modules, it helps them to understand the client requirements and provide suitable solutions or suggestions.
As they have good knowledge and experience in Insurance, will also work as a SME(Subject Matter Expert)in the business unit.
They also need to understand the business processes to identify the business need and provide suitable solutions which would fulfil those needs.
Some of the responsibilities of BusinessAnalyst in insurance domain:
- Prepare Documentation. Ex: BRD, FSD,FRD
- Use Cases
- Post implementation system support
- Production support (Functional)
- Understand the existing system or current system functionalities.
- Provide recommendations or suitable solutions to improve the application functionality
- Support project management activities
- Coordination with stake holders
- Ensure implemented changes should not impact on existing application functionality.
- Discuss and coordinate with the end users to understand the application functionality and to identify the gaps.
How to become BusinessAnalyst in Insurance .domain:
Most of the Business Analysts actually start career in insurance company as insurance employees and then convert on the subject matter expert role in a project as they have good knowledge and experience in Insurance process.
After the project is completed, they are converted into the Business Analysis role based on their knowledge of the business domain and their project and solution experience.
Some of the Example Domains and sub domains: Travel insurance, software testing, health insurance, manage customer, customer service, insurance covers, types of insurance, life insurance, insurance protects, general insurance, insurance business, social media, accidental death, crm interview questions and medical expenses.