There are numerous types of Business Analysts out there and one of those specialist Business Analysts is the Insurance Business Analyst.
So who is an Insurance Business Analyst ?
In addition to the tools and skillset that every successful Business Analyst‘s should have, the insurance Business Analyst also has to have domain knowledge of the insurance industry. They have to be domain knowledge experts and have an understanding of the organizational business processes.
Some of the common business processes that can be found in an insurance organization include :
The New Business process, the Policy Servicing process and the Claims process.
This domain knowledge is necessary in order to understand the business need, gather the requirements, document those requirements, get those requirements validated and verified and propose a solution.
But in addition to domain knowledge, these insurance business analysts should also have a detailed understanding of the business solutions and how they work in order to support the business and identify opportunities for improvements.
Some insurance business solutions require specific expertise so an insurance business analyst who is well versed in these applications is highly sought after.
Many insurance Business Analysts actually start off as insurance employees and then take on the subject matter expert role in a project.
After the project is completed they are converted into the Business Analysis role based on their intimate knowledge of the business domain and their project and solution experience.
But a Business Analyst can also get a job in an insurance company and gain the necessary knowledge and experience.