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Zensar Technologies
Business Analysis Digital-Ba, Consulting DigitalZensar Technologies • Pune, Maharashtra, India
Business Analysis Digital-Ba, Consulting Digital

Business Analysis Digital-Ba, Consulting Digital

Zensar Technologies • Pune, Maharashtra, India
30+ days ago
Job description
Description

15 Years of experience in Life Insurance Retirement and Annuity Domain as a Functional SME



Responsibilities

Job Description

  • 15 Years of experience in Life Insurance Retirement and Annuity Domain as a Functional SME
  • At least 8-10 years of experience in Vantage or Wealth Management Accelerator (WMA) as a Lead Business Analyst/Functional SME
  • Experience in other Policy Admin Systems (ex-ALIP FAST Cyberlife OIPA etc.) and other Insurance S/w (Like Claims Vantage (For Claims) DSS SAP Billing etc.) is good to have
  • Should have stakeholder Management Experience as a Functional SME/Lead Business Analyst. Experience in the following (must have):
  • Led the Joint Application Development Requirement Gathering in new product launches platform modernization system/product enhancement etc.
  • Has a lead of Junior Intermediate and Senior BAs in their assignments and bringing BA best practices in-play
  • Helping the Customers in process improvements (i.e. consulting them with Industry Best Practices)


Qualifications

From Policy Admin Vantage side below are the technical skill sets which we are expecting candidate to have

Functional AreaDetails
Post Issue Life Cycle

Should have a detailed understanding of the post issuance life cycle process:

  • Should have detailed understanding of the different transactions
  • Policy Add (EA)
  • Remittance/Premiums (NAMA)
  • Surrenders (TA) Withdrawals (TBTW)
  • Payouts (TK)
  • Loans Processing (TL). Different Kinds of Loans ( Participating Non Participating ZIL etc.)
  • Lapse Pending Lapse Paid UP etc
  • Different Kinds of Disability/ Waiver Claims (Waiver Of Premium Waiver Of COI LTC etc.)
  • Death Claim (DP PA and DBA) etc. etc.
  • Basic Understanding of Minimum Required distribution RMD (US) 2 Pot Withdrawals (South Africa) i.e. understanding of early withdrawal concepts for retirement products etc. etc.

The Candidate should have proper understanding of above transactions for example for surrender and withdrawals they should have understanding of surrender charge/Penalty Rules(How they are driven based on Business Rules Tables) Rules For Free Amount etc.

Differences between Lapse Pending Lapse Paid Up should have comprehension skills to understand different rules

What is the difference between Cost Of Insurance Rider Fee Benefit Charges Premium Load etc.

Business Rules Tables

Life and Annuity Policy Admin Systems like Vantage WMA ALIP etc are driven around business rules instead of Hard Vantage there are various db2/VSAM (In Old Instance Of Vantage) Tables where the Business Rules are defined instead of doing hard coding. Few examples are:

  • What are the business rules tables to set up a new product /Plan code (Ex T03T04 etc). How the relational logic works
  • How are different Declared Interest Rates Guranteed Rates determined for Fixed Money Market Funds etc.
  • How are the admin charges rider charges defined. For Example there is one table T33 which defines the admin charges to administer fiffrent transactions like
  • Surrenders
  • Withdrawals.
  • Loans
  • Annuity Payouts
  • Paid Up (Reduced Coverage) Charges etc

Note: It is not mandatory for the Candidate to know all the Tables since these tables are highly customized/and vary on the versions of vantage instance and also vary on what kind of products Insurance carrier have. But they should have a reasonable understanding of how the business rule table works and they should be able to explain it how they have used it in their previous projects with different clients




Employment Type : Full Time
Experience: years
Vacancy: 1
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Business Analysis Digital-Ba, Consulting Digital • Pune, Maharashtra, India