What are the responsibilities and job description for the Business Analyst - Life Insurance Background position at Fort Technologies Inc.?
Job Details
Position: Business Analyst
Location: Newark, NJ
Type: 8 Months Contract
Position Description:
Business Analyst (BA) with expertise in Life Insurance, 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.
- 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.
- Act as a bridge between business teams, IT developers, actuaries, and third-party vendors.
- 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.
- Industry Experience:
- 5 years of experience as a Business Analyst/SME 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.
Employers have access to artificial intelligence language tools (“AI”) that help generate and enhance job descriptions and AI may have been used to create this description. The position description has been reviewed for accuracy and Dice believes it to correctly reflect the job opportunity.
