Business Analyst

EXL is a company focused on data analytics and business solutions, and they are seeking a Senior Business Analyst with insurance domain experience. The role involves collaborating with various stakeholders to analyze and document business requirements, ensuring successful delivery of insurance data and technology initiatives.

Responsibilities:

• Bring 2–3 years of hands-on insurance domain experience across policy administration, claims management, and underwriting systems; exposure to billing, rating, or producer/distribution systems will be an added advantage
• Collaborate with business stakeholders, product owners, SMEs, data engineers, QA teams, and technology partners to gather, analyze, validate, and document business and functional requirements
• Translate business needs into clear BRDs, FRDs, user stories, acceptance criteria, process flows, data mapping documents, and functional specifications
• Analyze current-state business processes, system interactions, data flows, and operational pain points across insurance functions to identify gaps, dependencies, and improvement opportunities
• Support solution definition by structuring business problems, clarifying objectives, documenting assumptions, and aligning proposed solutions with stakeholder expectations
• Identify and manage requirement gaps, dependencies, risks, and open questions; facilitate walkthroughs, requirement sign-offs, and backlog refinement sessions with business and delivery teams
• Use SQL to perform data analysis, validate source-to-target mappings, investigate data issues, support reconciliation, and assist data engineering teams in understanding business rules and transformation logic
• Demonstrate understanding of data confidentiality, access controls, and data integrity principles relevant to insurance data, including policyholder, claim, underwriting, and financial information
• Prepare and maintain source-to-target mappings, interface specifications, data dictionaries, business glossaries, and field-level mapping documentation for insurance data assets
• Work on technology-enabled transformation, migration, modernization, or analytics initiatives involving insurance data, reporting, or operational systems
• Participate in system testing, SIT, UAT, defect triage, release validation, and post-implementation reviews to ensure business requirements and quality expectations are met
• Work in Agile delivery models, supporting sprint planning, backlog grooming, daily stand-ups, demos, retrospectives, and change request discussions
• Assist in end-to-end project delivery across discovery, requirements, design, build, testing, deployment, and hypercare phases
• Support day-to-day project operations as a functional and domain SME, ensuring deliverables are clear, traceable, and aligned with client expectations

Requirements:

• Bachelor's/Master's degree in economics, mathematics, computer science/engineering, information systems, operations research, analytics, business administration, or a related discipline
• 7+ years of total experience as a Business Analyst, System Analyst, Data Analyst, or functional analyst, with at least 2–3 years of core insurance experience across policy, claims, and underwriting systems
• Strong experience in requirements elicitation, stakeholder workshops, BRD/FRD preparation, user story creation, acceptance criteria definition, process documentation, and functional specification development
• Hands-on experience with SQL, data analysis, source-to-target mapping, interface mapping
• Strong written and verbal communication skills, with the ability to engage business SMEs, technology teams, QA teams, and client stakeholders
• Experience working directly with clients and facilitating requirement discussions, walkthroughs, clarifications, demos, and sign-off conversations
• Strong analytical ability, structured problem-solving skills, attention to detail, and a hands-on approach to documentation and delivery support
• Able to work in a fast-paced, continuously evolving environment and take ownership of assigned business analysis deliverables
• Ability to understand cross-cultural differences and work effectively with clients and teams across geographies
• Seeks to become an expert in the insurance domain and shares expertise through recommendations, proactive communication, documentation quality, and peer collaboration where relevant
• Experience working in dual-shore or distributed delivery engagements is preferred
• Candidates from strong academic institutions are preferred