Senior Business Analyst / Functional Consultant

OTS Solutions Inc.; Pune District; On-site; INR 1,200,000 - 1,800,000; Full time

Job summary

OTS Solutions Inc. seeks an experienced Senior Business Analyst / Functional Consultant specialized in Ingenium Policy Administration System for the Indian life insurance sector.

The role requires 8-10 years of overall experience, including at least 4 years in the Indian market, with hands-on policy administration, product configuration, and end-to-end implementation experience. You will work with business users, operations, IT, and vendors to deliver functional designs, process maps, and test

Qualifications

• 8-10 years of overall experience in insurance domain or insurance technology projects.
• Minimum 4 years of experience in the Indian insurance market.
• Hands-on experience with Ingenium Policy Administration System.

Responsibilities

• Gather, analyze, and document business requirements for enhancements, regulatory changes, and production support.
• Translate requirements into functional specs, user stories, flows and test cases.
• Collaborate with business users, operations, IT, and vendors to ensure correct implementation.
• Serve as functional SME for Ingenium PAS and support configuration of related modules.
• Coordinate with stakeholders and support SIT/UAT, defect triage, and release planning.

Skills

8-10 years exp

Ingenium PAS

Indian insurance market

Job description

Role: Senior Business Analyst / Functional Consultant - Ingenium Policy Administration System

Domain: Life Insurance / Insurance Technology
Experience: 8-10 years
Relevant Indian Insurance Experience: Minimum 4 years
Location: India / Client Location / Mumbai

Role Summary

We are looking for an experienced Business Analyst / Functional Consultant with strong expertise in the Ingenium Policy Administration System and solid exposure to the Indian insurance industry. The ideal candidate should have 8-10 years of overall experience, including at least 4 years in the Indian insurance market, with hands‑on involvement in policy administration processes, product configuration, requirements gathering, and end-to-end insurance system implementation/support.

The candidate should possess strong knowledge of life insurance business processes, Indian regulatory expectations, policy lifecycle management, and system integration aspects related to core insurance platforms.

Key Responsibilities

1. Business Functional Analysis

• Gather, analyze, and document business requirements from stakeholders for enhancements, new product launches, regulatory changes, and production support initiatives.

• Translate business requirements into detailed functional specifications, user stories, process flows, and use cases.

• Work closely with business users, operations teams, IT teams, and external vendors to ensure proper requirement understanding and implementation.

2. Ingenium Policy Administration Expertise

• Act as a functional SME for the Ingenium Policy Administration System.

• Support/configure modules related to policy administration, underwriting, billing, customer servicing, endorsements, renewals, claims interface, and reporting.

• Participate in product setup, process mapping, policy lifecycle changes, and system enhancement initiatives in Ingenium.

• Provide impact analysis for changes in product rules, business processes, and regulatory requirements.

3. Indian Insurance Domain Support

• Bring strong understanding of Indian life insurance business processes such as:

  • New business

  • Underwriting

  • Policy issuance

  • Premium collection

  • Policy servicing

  • Reinstatement

  • Surrender / maturity

  • Claims process

• Support implementation of changes aligned with Indian market needs and insurance operations.

• Work on business scenarios specific to Indian insurers, distributors, bancassurance, and digital journeys.

4. Project Delivery Stakeholder Coordination

• Liaise with developers, QA teams, UAT teams, and project managers for successful delivery.

• Participate in workshops, requirement discussions, solution walkthroughs, defect triage, and release planning.

• Support SIT/UAT phases by clarifying requirements, validating solutions, and tracking defects to closure.

• Coordinate with production support teams for issue analysis and resolution.

5. Documentation Governance

• Prepare and maintain BRD, FSD, RTM, SOPs, process flows, and test scenario documents.

• Ensure proper change control, requirement traceability, and project documentation quality.

• Assist in preparing status reports, risk/issue logs, and stakeholder communication for project governance.

Mandatory Skills Experience

Experience

• 8-10 years of overall experience in insurance domain / insurance technology projects.

• Minimum 4 years of experience in the Indian insurance industry.

• Strong hands‑on experience in Ingenium Policy Administration System.

• Experience in implementation, enhancement, migration, or support projects related to policy administration systems.

Functional Knowledge

• Good understanding of life insurance business processes and policy administration lifecycle.

• Strong exposure to:

  • Policy issuance

  • Underwriting

  • Billing / premium collection

  • Servicing transactions

  • Renewals / endorsements

  • Claims‑related touchpoints

  • Product configuration / business rules

• Knowledge of Indian insurance operations and customer journey processes.

Documentation Analysis Skills

• Strong experience in requirement elicitation, analysis, and preparation of functional documents.

• Ability to create BRD, FSD, user stories, use cases, process maps, and test scenarios.

• Strong analytical and problem‑solving skills.

Stakeholder Management

• Experience working with business teams, operations users, IT teams, and external stakeholders.

• Good communication and presentation skills.

• Ability to drive discussions independently with client/business stakeholders.

Preferred Skills

• Experience in Life Insurance is highly preferred.

• Exposure to Indian insurance regulations / IRDAI-related changes will be an added advantage.

• Experience in system integration with surrounding applications such as:

  • CRM

  • Payment systems

  • Document management systems

  • Customer portals

  • Claims systems

  • Data warehouse / reporting platforms

• Understanding of Agile / Waterfall delivery models.

• Experience in UAT support, defect triage, and release coordination.

• Knowledge of SQL / data analysis / API interface concepts will be an added advantage.

Disclaimer: This job posting has been aggregated from external source. Role details, content, and availability are subject to change. Applicants are advised to confirm the latest information directly on the company website before applying.