Process Analyst

Job description

**Role Overview** **The Life & Annuity (L&A) Specialist is responsible for managing insurance processes related to life insurance policies and annuity products. This includes policy administration, underwriting support, claims handling, customer service, and ensuring compliance with regulatory standards.** **Key Responsibilities** **1. Policy Administration** **Manage end-to-end lifecycle of life and annuity policies (issuance, servicing, renewals, cancellations)** **Process policy changes such as beneficiary updates, premium changes, and rider additions** **Ensure accurate documentation and data entry in insurance systems** **2. Underwriting Support** **Review insurance applications and verify required documentation** **Assist underwriters in risk assessment and policy approval** **Analyze applicant data (medical, financial, lifestyle factors)** **3. Claims Processing** **Assess life insurance claims (death claims, maturity, surrender, annuity payouts)** **Verify claim documents and ensure adherence to policy terms** **Coordinate with internal/external stakeholders for claim settlement** **4. Customer Service & Stakeholder Management** **Respond to customer queries related to policies, premiums, and benefits** **Work with brokers, agents, and internal teams to resolve issues** **Maintain high customer satisfaction and service quality** **5. Compliance & Risk Management** **Ensure adherence to insurance regulations and company policies** **Maintain audit-ready documentation** **Identify risks and escalate discrepancies** **6. Reporting & Analysis** **Prepare MIS reports on policy performance, claims, and operations** **Analyze trends in claims, lapses, and policy performance** **Support process improvement initiatives** **Required Skills & Competencies** **Strong knowledge of Life Insurance products (Term, Whole Life, ULIPs)** **Understanding of Annuities (Immediate, Deferred, Fixed, Variable)** **Familiarity with insurance systems/platforms (e.g., Guidewire, Duck Creek)** **Analytical and problem-solving skills** **Excellent communication and stakeholder management** **Attention to detail and accuracy** **Knowledge of regulatory frameworks (IRDAI, IFRS 17, etc. depending on geography)** **Immediate Joiners within 30 days will be preferred.**