Business Analyst

IPS Group Ltd; Greater London; On-site; GBP 50,000 - 70,000; Full time

Job summary

A specialty insurance carrier is seeking a Business Analyst to support their underwriting business in London. Acting as a bridge between end-users and technical teams, you will gather requirements for enhancements related to underwriting workflows. The ideal candidate will have a strong background in the London Insurance Market and experience with underwriting workbench systems. This role offers the chance to work closely with a dedicated team in a dynamic environment, ensuring alignment with business and regulatory requirements.

Qualifications

• Strong background in the London Insurance Market.
• Experience directly interacting with insurance underwriters.
• Skills in developing functional specifications and user stories.

Responsibilities

• Support underwriting business by acting as a liaison between teams.
• Gather and prioritize business requirements for enhancements.
• Facilitate workshops and stakeholder meetings for requirement gathering.

Skills

Business analysis

Communication

Understanding of Lloyd's market

Requirements gathering

Tools

Underwriting workbench systems

Policy administration systems

Job description

Job Description

About the Company

Our client is a long-established global specialty insurance carrier with roots going back over two centuries. They operate across property & casualty, group benefits and specialty lines — combining deep underwriting expertise with a modern, global platform. They are recognised for strong financial stability, breadth of capacity and a commitment to integrity, service excellence and innovation in underwriting.

The firm maintains a significant presence in the London Market, operating within the Lloyd’s-specialty space and offering bespoke (re)insurance solutions across a range of lines. Their technical underwriting teams are renowned for designing sophisticated, tailored policies for complex global risks.

The Role

You will join as a Business Analyst focused on supporting the underwriting business — specifically working with their underwriting workbench system. The role is business-facing : you will act as the bridge between underwriting end‑users (underwriters, class leaders, risk teams) and the technical / IT delivery teams, helping to translate underwriting requirements into system processes and enhancements.

Key Responsibilities

• Work closely with underwriting teams in the London Market to understand their workflows, pain points, and business requirements, especially around the underwriting workbench.
• Analyse, document and prioritise business requirements for new functionality, enhancements or process improvements related to underwriting, policy binding, risk placement, data flows and reporting within the underwriting workbench.
• Facilitate workshops and stakeholder meetings (underwriters, risk managers, IT, operations) to gather requirements and define solution scope.
• Provide detailed functional specifications, use‑cases, process maps, data mapping and user stories / acceptance criteria to support development efforts.
• Support the testing cycle — coordinate user acceptance testing (UAT) with underwriters, validate that delivered functionality meets business needs and document issues / defects.
• Assist with implementation planning, change management and user training / onboarding where required.
• Help ensure the underwriting workbench remains aligned with business practices, regulatory requirements and Lloyd’s‑market conventions.
• Act as a subject‑matter liaison between business and technical teams to ensure communication clarity and that delivered solutions meet underwriting needs.

Experience & Skills Required

• Strong background working in the London Insurance Market (Lloyd’s / specialty / wholesale).
• Prior experience working directly with insurance underwriters, understanding underwriting workflows, risk placement, treaty / facultative underwriting or policy underwriting lifecycle.
• Direct experience with underwriting workbench systems or similar platforms used to support underwriting, policy binding, or risk placement (e.g. policy administration, underwriting systems).
• Strong business‑analysis skills : requirements gathering, process mapping, writing functional specifications, user‑stories / acceptance criteria, data mapping.
• Excellent communication skills — able to engage with non‑technical stakeholders (underwriters) and technical / IT teams, facilitating workshops and bridging gaps between business and technology.
• Good understanding of Lloyd’s market processes, regulatory / compliance requirements, and unique challenges of placing complex or specialty risks.

Desirable / Preferred

• Prior involvement in system implementation projects (new underwriting systems or significant upgrades) from requirements gathering through to UAT and go‑live.
• Familiarity with data migration, data mapping, and integration between underwriting workbench and other administration or policy systems.
• Understanding of reinsurance, treaty / facultative placement, treaty and facultative workflows.
• Previous exposure to both underwriting and operations / administration sides to appreciate full end‑to‑end lifecycle.
• Familiarity with agile delivery methodologies (or hybrid waterfall / agile), and experience writing user stories, backlog grooming, sprint planning, etc.