At a Glance
- Tasks: Analyse and structure insurance products for a simplified, system-ready model.
- Company: Leading London Market insurance firm with a focus on innovation.
- Benefits: Competitive salary, flexible working, and opportunities for professional growth.
- Other info: Hybrid working model with 2-3 days onsite in London.
- Why this job: Join a dynamic team to make a real impact in the insurance industry.
- Qualifications: 10+ years as a Business Analyst in London Market insurance required.
The predicted salary is between 80000 - 100000 £ per year.
Salary: £? - ? per year
Requirements
- 10+ years of experience as a Business Analyst in London Market insurance
- Experience analysing insurance products or product documentation
- Strong analytical and documentation skills
- Experience working with underwriting or product development teams
- Strong understanding of specialty/commercial insurance operations
- Experience documenting underwriting and policy servicing processes to L2/L3 detail
- Previous involvement in PAS transformations or Guidewire programmes
- Understanding of Lloyds and company market operating models
- Exposure to Guidewire implementations
- Specialty insurance product understanding
- Ability to analyse complex product variations
- Strong Excel and data structuring capability
- Workshop support and stakeholder coordination skills
Responsibilities
- Support our clients Product Rationalisation workstream by analysing and structuring existing insurance products across the European business to create a simplified, system-ready product model for Guidewire PolicyCenter
- Identify and catalogue all in-scope European products across classes
- Gather product documentation, including product definitions, coverage structures, rating sheets, underwriting guidelines and policy forms
- Create a structured product inventory register
- Analyse existing products to identify duplicate or overlapping products, variations across jurisdictions, coverage structure differences, optional extensions and endorsements, and regulatory-driven variations
- Support the client in distinguishing true product differences from parameter variations
- Assist the client, Product Owner and client BAs in grouping products into product families, defining core products and variants, identifying opportunities for standardisation, and reducing unnecessary product proliferation
- Develop structured documentation including product definition templates, coverage structure diagrams, product comparison matrices and product rationalisation analysis packs
- Support product rationalisation workshops by preparing analysis materials, documenting decisions and action items, maintaining rationalisation trackers and preparing decision summaries for Product Owner review
- Work with the Guidewire functional architect to ensure product definitions align with Guidewire product model structures, coverage patterns, rating structures and rules configuration
- Facilitate workshops with underwriters, underwriting assistants, operations teams, product owners and SMEs across London Market specialty lines
- Define end-to-end underwriting and policy administration journeys including submission intake, quote, referral, bind, endorsements / MTAs, renewals, cancellation, reinstatement, mid-term servicing, broker interactions, document production and bordereaux / delegated authority touchpoints
- Produce L1/L2/L3 process maps, user journeys, swimlane workflows, pain point analysis, functional requirements, epics, features and user stories
Technologies
- Architect Excel
- Support Product Owner
We are supporting a London-based role focused on product rationalisation and underwriting process analysis across the European and London Market insurance environment. The role works closely with product owners, underwriters, operations teams, SMEs and a Guidewire functional architect to create structured product documentation and align business processes and product definitions with Guidewire PolicyCenter. The working model is 2–3 days per week onsite in London, with the remaining days remote.
Product Business Analyst employer: Red King Resourcing
As a leading player in the London Market insurance sector, we pride ourselves on fostering a collaborative and innovative work culture that empowers our employees to excel. With a strong focus on professional development, we offer extensive growth opportunities and support for continuous learning, ensuring that our team members are well-equipped to navigate the complexities of product rationalisation and underwriting processes. Our flexible working model, combining onsite collaboration in vibrant London with remote work, allows for a balanced approach to achieving both personal and professional goals.
StudySmarter Expert Advice🤫
We think this is how you could land Product Business Analyst
✨Dive Into Industry Networking Events
Get your foot in the door by attending insurance industry events and conferences. Not only will you learn about the latest trends, but you'll also meet potential employers and industry peers. Check out local chapters of professional bodies like the Chartered Insurance Institute for valuable meetups.
✨Use LinkedIn to Your Advantage
Don’t underestimate the power of LinkedIn in the insurance world. Engage with industry content, join relevant groups, and connect with professionals at companies you admire (like Red King Resourcing). A thoughtful message explaining your interest can really make a difference!
✨Look Out for Graduate Schemes
Many firms in insurance have structured graduate programmes. Keep an eye on application windows and utilise your university's career services for insider tips. These schemes are designed to develop talent and often lead to permanent roles after your initial training.
✨Leverage Your Current Connections
Got friends or family in the industry? Now’s the time to reach out! Personal referrals can give you a head start, so let them know you're on the lookout for full-time opportunities at places like Red King Resourcing. Don’t shy away from asking for a coffee chat; you never know what doors it might open!
We think you need these skills to ace Product Business Analyst
Some tips for your application 🫡
Highlight Your Analytical Skills:In insurance, we love a candidate who can crunch numbers and analyse data effectively. When crafting your CV, make sure to showcase any relevant coursework or experiences that highlight your analytical abilities, especially if you’ve tackled risk assessment or financial modelling.
Showcase Industry Knowledge:Don’t be shy about your knowledge of the insurance sector! We want to see that you've done your homework on current trends, regulations, and challenges in the industry. Mention any relevant projects or studies you’ve completed that demonstrate your understanding of the field in your cover letter.
Craft a Compelling Cover Letter:Your cover letter should tell us why you’re passionate about insurance. Share any personal experiences or what drew you into this profession. We’re looking for enthusiasm and a clear motivation for why you want to be part of our team at Red King Resourcing.
Tailor Your CV for the Role:Don't just send a generic CV! Focus on tailoring it specifically for the insurance role at Red King Resourcing. Highlight relevant skills such as risk management, customer service experience, or any certifications you've earned in the industry to make your application stand out.
How to prepare for a job interview at Red King Resourcing
✨Know Your Numbers: Insurance Fundamentals
Brush up on your understanding of key insurance concepts, like underwriting principles and risk assessment. Expect the interviewer at Red King Resourcing to throw some technical questions your way, so be ready to demonstrate your grasp of these essentials.
✨Showcase Your Analytical Side
In the insurance world, it's all about data. Prepare to discuss any analytical tools or methodologies you've used in past experiences. If you have a portfolio of projects where you've tackled complex data, bring that along to impress the team!
✨Prepare for Behavioural Questions
As a full-timer at Red King Resourcing, they'll want to know how you handle real-life scenarios, not just theory. Think about challenges you've faced in teamwork or customer service, and how those experiences can relate to a career in insurance.
✨Know the Company Culture Inside Out
Understanding Red King Resourcing's values and workplace culture is essential. Don’t just memorise their mission statement; think about how your personal values align with theirs. This will show your genuine interest in being part of their team long-term.
