Analyst/Consultant (Insurance Consulting Practice)
Purpose
- Supports Insurance consulting engagements in an offshore/onshore model
- Supports building of Insurance Consulting practice and Insurance Consulting assets, methodologies, etc. from offshore
- Supports teams engaged in research and market making initiatives in insurance consulting domain. Example of key activities would be - Non Life Insurance Operating Model; Activity Based Costing/ Portfolio Data Analysis, Capability Scales of Mastery, Business Case Framework, Process Models revamped process and operating models
Responsibilities
- Assisting in formulating the specific solutions to address prioritized gaps
- Assisting in the development of capabilities and performance measurements/KPIs
- Engage in activities like process mapping, gap analysis etc.
- Supervising business architecture implementation activities
- Implementation of technology within a risk area, including the implementation of MIS solutions.
- Supervising business diagnosis and planning activities
- Supervising business architecture and process design activities
- Defining testing and implementation activities for architectures, capabilities and processes
- Developing and testing business processes, capabilities, and architectures
- Preparing the client for deployment (communications, training)
PROCESSES
- Work on consulting engagements with insurance clients across the globe which in areas such as:
- Business Process Optimization
- Cost Reduction, Operational Efficiency
- AS IS and TO BE Analysis, Gap Analysis and Operating Model Road Map creation
- Sales and Distribution strategy
- Underwriting profitability analysis
- Policy and Billing Services
- Claims Transformation
JOB REQUIREMENTS
- Awareness of Consulting, structure of business and nature of work
- Understanding of business and financial markets (obviously)
- Excellent Communication Skills and ability to work well in a team
- Analytic personality with attention to detail
- Good at making decisions and taking the initiative
- Strong inter-personal skills with ability to connect with senior client executives
- Ability to work with geographically dispersed teams on flexi hours
- Willingness to travel moderately/ extensively across multiple locations
- Post Graduates or professional degree holders (CA, CFA)
- Should be holding a MBA (Full time) from premier institutions (IIM, ISB, SP Jain and other similar colleges)
- Professional certifications like CPCU, FLMI (LOMA) will be an added advantage
- Knowledge of Insurance Software and Core Platforms like Duck Creek, ALIP, CSC Systems, is an added advantage
- Should have 1-2 years of work experience in insurance for Analysts and 2-5 years for Consultant with exposure to Process Consulting.
Functional competencies (Includes Knowledge and Skills)
Eg. Accounts Payable; AR; Cost Reporting; Treasury; Contract Compliance; Audit; General accounting
Payroll; MS Office ; SAP; Oracle
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