Senior Life & Annuity Risk Consultant

EY; Chennai District; On-site; INR 1,200,000 - 2,400,000; Full time

Job summary

EY is seeking a seasoned insurance transformation consultant to support life and annuity programs from policy initiation to servicing. You will drive requirements, document BRDs/FSDs, and collaborate with product teams to deliver value-driven solutions.

The role involves leading meetings, mapping processes, managing data migration, and aligning projects with business strategy in a multi-vendor environment.

Qualifications

• Bachelor's degree in related technology field.
• Approximately 5 to 10 years of experience in Life & Annuity insurance domain.
• Hands-on experience with policy lifecycle processes and insurance workflows.
• Experience managing multi-vendor engagements and large programs.

Responsibilities

• Support clients across the full policy lifecycle including new business, underwriting, policy servicing, billing, and claims.
• Create business process maps, future state architectures, and WBS for transformation programs.
• Lead requirements elicitation and develop BRDs, FSDs, and documentation.
• Collaborate with design and development teams to meet business objectives.
• Support data migration, governance activities, and regulatory updates.

Skills

Life insurance domain

Requirements elicitation

Stakeholder management

Data governance

Education

Bachelor's degree in related technology field

Tools

JIRA

TFS

Azure DevOps

Job description

Job Summary

As part of our Consulting team, you will play a key role in supporting clients across the individual and group life insurance and annuity value chain. You will contribute to complex transformation programs by applying deep product, process, and platform knowledge, while helping clients achieve their business objective. This role provides the opportunity to work across multi vendor environments, influence strategic business decisions, and contribute to large scale transformation initiatives for insurance careers.

Your Key Responsibilities

• Support clients across the full policy lifecycle, including new business, underwriting, policy servicing, billing, claims, disbursements, and regulatory updates.
• Create comprehensive business process maps, future state architectures, and work breakdown structures (WBS) for conversion and transformation programs.
• Lead requirements elicitation through JAD sessions, workshops, and collaboration with product owners to develop BRDs, FSDs, and other documentation.
• Challenge new requirements and change requests by proposing optimized, value driven solutions that align with business strategy and operational readiness.
• Collaborate with product design and development teams to evaluate functional enhancements and ensure they meet business objectives.
• Support clients through product configuration decisions, acceptance criteria definition, and user acceptance testing.
• Contribute to data migration and data governance activities, ensuring quality, compliance, and seamless system transitions.
• Serve as a trusted advisor to clients by delivering clear insights, process improvements, and best practice recommendations
• Responsible for decision-making, optimizing processes, resource management, and overseeing team management as needed for task execution.
• Accountable for allocating personnel, supervising team members, assigning tasks, ensuring that the team has the necessary tools and support to succeed in their roles and optimizing and evaluating their performance to meet organizational goals.

Skills and attributes for success

• A proactive, detailoriented professional who thrives in fastpaced, dynamic environments.
• Strong business acumen combined with deep expertise in life and annuity insurance domains.
• Ability to collaborate effectively and bridge the gap between business needs and technology solutions.
• A strategic problemsolver who challenges assumptions and recommends innovative, futureready approaches.
• A committed team player focused on delivering value, driving transformation, and building lasting client relationships

To qualify for the role, you must have

• Bachelors degree in related technology field (Computer, Engineering, Science, etc.)
• Approximately 5 to 10 years of experience working in Life & Annuity insurance domain.

Additionally, You'll Also Have

• Handson experience with policy lifecycle processes and insurance operational workflows.
• Ability to produce highquality process maps, data flows, and requirement documentation.
• Proficiency in managing multivendor engagements and navigating complex project environments.
• Analytical mindset with the ability to interpret data, identify gaps, and propose practical solutions.
• Excellent communication and facilitation skills for clientfacing interactions.
• Ability to collaborate effectively with technical, functional, and business stakeholders.

Ideally, good to have

• Experience working on data migration projects and applying data governance best practices.
• Knowledge of insurance COTS platforms such as FAST, ALIP, OIPA, wmA etc
• Certifications such as AAPA or LOMA.
• Understanding of upstream and downstream integrations across the policy lifecycle
• Knowledge of project management tools like JIRA, TFS, Azure DevOps