Insurance Business Operations ( Process Analyst)

Job Summary: 

Operations Analyst –Motor Insurance 

Position Overview: 

We are seeking a detail-oriented and analytically skilled Operations Analyst to join our dynamic team in our innovative insurance tech company. The Operations Analyst will play a pivotal role in optimizing our operational processes, enhancing efficiency, and contributing to the overall success of the company. This role requires a strong analytical mindset, excellent problem-solving skills, and the ability to collaborate effectively with cross-functional teams.

Role

• Opportunity to work on insurance related initiatives with key stakeholders of the Insurance industry in the country
• Collaboration with internal teams- Product, Tech, Business Finance, Customer Service, etc to monitor and manage the category daily.
• Operate independently and able to influence decisions.
• Monitor business application dashboards/Reports, detect anomalies, devise & execute solutions.
• Work closely with all Insurers, understand their processes, identify internal as well as external challenges and issues.
• Analyze and provide insights on issue fixes to reduce business loss.
• Proactive, Strong follow ups, identifying issues and solutions, ability to influence decisions are some of the critical traits required for this role.
• Collaborate with cross-functional teams to drive issue resolution and provide updates on issues and fixes.
• Coordination with external partners and vendors to ensure a smooth flow of business
• Responsible for defining, developing and communicating key metrics and business trends to partner and management teams.
• Creation and maintenance of documentation related to processes, issues, and solutions.
• Grasping the underlying processes and data flows and should be able to analyze and work on the errors
• Liaison with partner insurance for day to day business operations and act as a bridge between partner SPOC’s and internal business, product & tech team.
• Involvement in automating the processes and MIS
• Work with data to help grow the business through interventions on product and technology
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Responsibilities:

• Data Analysis: Conduct in-depth analysis of operational data to identify trends, patterns, and areas for improvement. Translate data insights into actionable recommendations to drive operational efficiency and strategic decision-making. E.g., Creation of monthly / weekly reports to drive business decisions
• Process Optimization: Collaborate with various teams to evaluate current operational processes, identify bottlenecks, and propose and implement process improvements to enhance productivity, reduce errors, and streamline workflows.
• Performance Metrics: Develop and maintain key performance indicators (KPIs) to monitor operational performance. Regularly report on KPIs and provide insights to management to drive data-driven decision-making.
• Risk Management: Assist in identifying potential operational risks and gaps in processes. Work closely with risk management teams to implement solutions that ensure compliance and mitigate risks effectively.
• Cross-Functional Collaboration: Collaborate with teams such as underwriting, claims, customer service, and technology to gather insights, share best practices, and implement initiatives that optimize operations across the organization.
• Systems and Tools: Utilize various software tools and systems to extract, analyze, and visualize data, automating reporting processes wherever possible to improve efficiency.
• Documentation: Maintain accurate and up-to-date documentation of operational processes, guidelines, and procedures. Ensure that documentation is easily accessible to all relevant stakeholders.
• Project Management: Lead or participate in projects aimed at enhancing operational efficiency, which may involve coordination with different teams and stakeholders.

Ideal Candidate should have:

• Have work experience in Operations in a dynamic and fast paced environment
• Strong analytical skills with the ability to interpret complex data and draw actionable insights.
• Excellent communication skills to convey insights and recommendations to both technical and non-technical stakeholders.
• Detail-oriented mindset with the ability to work independently and collaboratively within a team.
• Be skilled in building and managing business alliances
• Strong problem-solving skills and a proactive attitude toward identifying and addressing operational challenges.
• Thrive in a competitive and a result-oriented work environment
• Knowledge of insurtech trends and emerging technologies is a plus.
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Qualifications:

• Bachelor's degree in Business, Finance, Operations Management, or a related field. Master's degree is a plus.
• Proven experience (3+ years) in an operations analysis or similar role within the insurance or financial services industry