What are the responsibilities and job description for the Life Insurance Business Analyst (1099/Corp-to-Corp) position at Brainhunter Systems Ltd?
Job Details
Job-Role/Title: Business Analyst (Life Insurance)
Job-Location: Newark, New Jersey, United States.
Job-Type: Contract opportunity, initial contract of 8 months with extensions.
Work-Style: On-site work setting, 5 days/week in the office required.
Position Overview and Responsibilities
We are looking for a Business Analyst (BA) with a strong background in Core Life Insurance Platforms and Pricing Systems, particularly in Core Life Insurance Systems, Rating, Pricing, and Business Rules. The ideal candidate will be responsible for documenting requirements, analyzing pricing methodologies, and collaborating with stakeholders to streamline policy administration and underwriting processes.
Key Responsibilities:
Requirement Gathering & Documentation:
- Work closely with business stakeholders, actuaries, and IT teams to define and document requirements.
- Create Business Requirement Documents (BRD), Functional Specification Documents (FSD), and Use Cases for life insurance products and rating models.
- Ensure that pricing and underwriting rules align with business objectives and regulatory requirements.
- Core Life & Pricing System Expertise (Advantageous):
- Work with core life insurance systems (policy administration, underwriting, claims, and billing).
- Define and document pricing methodologies, rating structures, and business rules for life insurance products.
- Collaborate with actuaries and product teams to ensure seamless integration of pricing models with core systems and rules engines.
Process Analysis & Business Solutions:
- Evaluate existing workflows in policy issuance, premium calculations, underwriting, and claims processing.
- Identify areas for automation, system optimization, and digital transformation.
- Work with technology teams to configure rules engines for business logic implementation.
Stakeholder Management & Communication:
- Act as a bridge between business teams, IT developers, actuaries, and third-party vendors.
- Lead requirement gathering workshops, stakeholder discussions, and process reviews.
- Ensure effective communication between business and technology teams to deliver robust solutions.
Onsite Collaboration:
- Work onsite in New Jersey, engaging directly with customers, development teams, and insurance partners.
- Support User Acceptance Testing (UAT) to ensure business requirements are met.
Qualifications & Key Skillset for this Role
Industry Experience:
- 5 years of experience as a Business Analyst in Life Insurance.
- Hands-on experience with core life insurance platforms (policy administration, underwriting, or claims systems).
- Strong understanding of rating engines, pricing models, and underwriting rules.
- Experience with term life and whole life insurance products.
Technical & Analytical Skills:
- Background in pricing system integration and rules engine configuration.
- Ability to analyze actuarial pricing models and translate them into business requirements.
- Proficiency in documentation tools such as Visio, Confluence, JIRA, and Excel.
Business & Communication Skills:
- Strong analytical and problem-solving skills.
- Excellent communication skills for effective collaboration with business and IT teams.
- Ability to work independently and drive digital transformation initiatives.
Preferred Qualifications & Ideal Skills
- Experience with Neutrinos, Low-Code/No-Code platforms, or automation tools.
- Excellent knowledge of regulatory frameworks (e.g., NAIC, IFRS 17, or GAAP for Life Insurance).
- Exposure to APIs, digital insurance ecosystems, and pricing model integration
