Lead Business Analyst

We are seeking an experienced Lead Business Analyst with a strong background in the life insurance industry to join our team. The Lead Business Analyst will play a key role in driving business solutions, managing complex projects, and ensuring alignment between business needs and technology systems. This individual will work closely with stakeholders across the organization, including product, technology, operations, and actuarial teams, to ensure successful delivery of business-critical initiatives. The ideal candidate will have a deep understanding of life insurance products, business processes, and a proven track record in leading cross-functional teams to deliver impactful solutions.

Objectives of this role

• Stakeholder Engagement : Collaborate with business stakeholders to gather, analyze, and document requirements for life insurance projects.

• Requirement Analysis : Lead efforts in gathering and documenting business requirements for life insurance products, services, and processes. Identify and define business needs and translate them into actionable technical requirements, ensuring alignment with organizational goals.

• Process Improvement : Evaluate existing business processes and workflows to identify areas for improvement and optimization within life insurance operations.

• Data Analysis : Conduct data analysis to support decision-making processes, identifying trends, insights, and opportunities for enhancing life insurance products and services.

• Change Management: Assist in change management initiatives to ensure smooth transitions for stakeholders and users when implementing new systems or processes.

• Risk Assessment : Evaluate and mitigate potential risks associated with product development and regulatory compliance in life insurance, ensuring the business remains compliant with industry standards.

• Report Development: Create and present analytical reports that support strategic planning and service improvements in the life insurance sector.
  

Key Responsibilities:

• Project Leadership : Oversee and coordinate cross-functional project teams to deliver projects on time and within budget, ensuring adherence to project management methodologies.

• Cross-Functional Collaboration : Work closely with IT, underwriting, compliance, and actuarial teams to ensure effective implementation of projects and solutions.

• User Acceptance Testing : Oversee the design and execution of testing strategies to validate that project deliverables meet business requirements.

• Regulatory Compliance : Ensure that all projects and processes comply with industry regulations and standards related to life insurance.

• Training and Support : Provide training and support to business users on new systems, processes, and functionalities related to life insurance.

• Reporting and Documentation : Create comprehensive documentation, including business requirements documents, process maps, and user guides, to support ongoing operations.

• Continuous Improvement: Stay abreast of industry best practices and emerging technologies, recommending changes that enhance the organization's business analysis processes.

• Life Insurance Product Expertise :

• Provide expert knowledge of life insurance products (e.g., term life, whole life, universal life, variable life), underwriting processes, policy administration, claims processing, and distribution channels.

• Stay updated on trends in the life insurance industry, including new product innovations, regulatory changes, and emerging technologies that could impact business operations.

Education:

• Bachelor’s degree in Business Administration, Finance, Insurance, or a related field (Master’s degree is a plus).
Relevant certifications (e.g., Certified Business Analysis Professional (CBAP), or certifications related to life insurance or actuarial sciences) are highly desirable.

Experience:

• Minimum of 7+ years of experience as a Business Analyst in the life insurance industry, with a proven track record in managing large, complex projects.
• At least 3+ years of experience in a leadership or mentoring role, overseeing teams of business analysts.
• Deep understanding of life insurance products, underwriting, claims, policy administration, and actuarial processes.
• Strong experience in process mapping, business process reengineering, and implementing solutions to improve operational efficiency.
• Proven experience in requirements gathering, business analysis, and working with IT teams to design and deliver solutions.
Experience working in agile project management environments (Scrum, Kanban, etc.) is a plus.

Skills & Competencies:

• Analytical Skills : Ability to analyze complex business challenges, define clear requirements, and translate them into effective solutions.
• Communication Skills : Excellent verbal and written communication skills, with the ability to communicate technical concepts to non-technical stakeholders.
• Leadership : Strong leadership skills, with the ability to manage and mentor a team of business analysts and work collaboratively across departments.
• Problem-Solving : Strong problem-solving abilities with a focus on providing innovative solutions that drive business value.
• Regulatory Knowledge : Knowledge of the regulatory environment governing life insurance products and operations.
• Stakeholder Management : Ability to manage relationships with senior leadership, business stakeholders, and third-party vendors.

For over 50 years, Verisk has been the leading data analytics and technology partner to the global insurance industry by delivering value to our clients through expertise and scale. We empower communities and businesses to make better decisions on risk, faster.

At Verisk, you'll have the chance to use your voice and build a rewarding career that's as unique as you are, with work flexibility and the support, coaching, and training you need to succeed.

For the eighth consecutive year, Verisk is proudly recognized as a Great Place to Work® for outstanding workplace culture in the US, fourth consecutive year in the UK, Spain, and India, and second consecutive year in Poland. We value learning, caring and results and make inclusivity and diversity a top priority. In addition to our Great Place to Work® Certification, we’ve been recognized by The Wall Street Journal as one of the Best-Managed Companies and by Forbes as a World’s Best Employer and Best Employer for Women, testaments to the value we place on workplace culture.

We’re 7,000 people strong. We relentlessly and ethically pursue innovation. And we are looking for people like you to help us translate big data into big ideas. Join us and create an exceptional experience for yourself and a better tomorrow for future generations.

Verisk Businesses

Underwriting Solutions — provides underwriting and rating solutions for auto and property, general liability, and excess and surplus to assess and price risk with speed and precision

Claims Solutions — supports end-to-end claims handling with analytic and automation tools that streamline workflow, improve claims management, and support better customer experiences

Property Estimating Solutions — offers property estimation software and tools for professionals in estimating all phases of building and repair to make day-to-day workflows the most efficient

Catastrophe and Risk Solutions — provides risk modeling solutions to help individuals, businesses, and society become more resilient to catastrophic events. .

Specialty Business Solutions — provides an integrated suite of software for full end-to-end management of insurance and reinsurance business, helping companies manage their businesses through efficiency, flexibility, and data governance

Marketing Solutions — delivers data and insights to improve the reach, timing, relevance, and compliance of every consumer engagement

Life Insurance Solutions – offers end-to-end, data insight-driven core capabilities for carriers, distribution, and direct customers across the entire policy lifecycle of life and annuities for both individual and group.

Verisk Maplecroft — provides intelligence on sustainability, resilience, and ESG, helping people, business, and societies become stronger

Verisk Analytics is an equal opportunity employer.

All members of the Verisk Analytics family of companies are equal opportunity employers. We consider all qualified applicants for employment without regard to race, religion, color, national origin, citizenship, sex, gender identity and/or expression, sexual orientation, veteran's status, age or disability. Verisk’s minimum hiring age is 18 except in countries with a higher age limit subject to applicable law.

https://www.verisk.com/company/careers/

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