Hello there! If you’re a newcomer to the insurance industry, one of the key challenges you’ll face is picking up the requisite “insurance domain knowledge”.
Think about it. If you don’t have insurance domain knowledge, it would be very difficult to run a insurance project successfully for your customers and stakeholders
Imagine running a workshop to gather system requirements for a new core insurance system and one of your stakeholders asks “So how do we handle New Business and Underwriting in the new system?” or “How do we deal with premium billing and collection?”
If you can’t answer or even understand what your stakeholder is asking, you’re risking your credibility (and career) as a Insurance BA.
But therein lies the question – how DO you pick up insurance domain knowledge?
One way is to read some thick insurance textbook. Well, I’ve did that early in my career and found it didn’t help.
Maybe you can attend (expensive) online courses or part-time certifications? These would be good, but only if you pick the right ones to attend.
On top of that, here are some other common questions I get about the insurance domain:
- You’re an IT Professional who has experience in programming in e.g. Java, .NET or technical architecture – how do you become a Insurance Business Analyst to learn more about the “business”?
- You’re an IT Business Analyst in another industry (e.g. banking or telecommunications), familiar with the Software Development Lifecycle (SDLC) and requirements analysis – how do you break into the insurance industry?
- You’re not in IT (e.g. you may be in Finance or Marketing) and don’t know how to become an BA in the insurance industry?
- What is my career path as a Insurance Business Analyst?
- Are Insurance Business Analysts paid well? What’s their average salary?
- Which companies do Insurance Business Analysts work for?
- Where are the job opportunities and how do I snag an interview if I have no prior experience?
- What’s a typical day in the life of a Insurance Business Analyst?
Well, all good questions and certainly ones which I hope I can answer for you.
My name is Gary Tan and I’m a management consultant who specializes in IT strategy and system implementations for banks. I’ve been a Insurance Business Analyst for 15 years and I’ve seen this industry from a consultant’s perspective and also from my experience working in banks.
The questions from many of my juniors who want to become Insurance Business Analysts has prompted me to consolidate all my know-how about the insurance domain and also the Insurance Business Analyst career into one huge resource – a book entitled “Insurance Domain Knowledge for Business Analysts“.
In my book, I first give you a solid overview of the insurance industry – from life insurance, personal accident and health insurance, through to general insurance (property & casualty, travel, etc.) I use a simple framework to give you a broad perspective into insurance companies’ business models, customers, sales and distribution channels, regulations, strategy and also operations.
What Is Insurance Domain Knowledge?
Now, the term “insurance domain knowledge” is very broad – we sometimes struggle with a definition.
The term “insurance” can cover anything from life insurance, personal accident and health insurance, through to general insurance.
It can cover new business and underwriting, policy administration, claims management, bancassurance, reinsurance and other back-office operations, as well as insurance regulations and corporate strategy.
How do you make sense of it all?
Well, that’s where my book comes in. I provide you with a practical, comprehensive overview of the insurance industry so you have an end-to-end foundational view.
From there, you can easily deep dive and learn more about specific topics if you wish.
My book will help you:
- Understand what insurance domain knowledge is so that you have a foundation for building up your insurance know-how.
- Understand the different types of insurance so that you can tell the difference between life, personal accident & health, property & casualty, travel insurance, etc.
- Understand how an insurance company works from end-to-end so that you can gain a “big picture” view of insurance processes, and be able to link what a front-office Insurance Agent says to what is happening in the back-office, e.g. policy administration and claims management.
- Understand the top core insurance systems so that you can understand the hottest core insurance system skills in demand in the market.
- Understand digital insurance so that you can understand how digital and mobile technology are transforming insurance services.
How Do You Pick Up Insurance Domain Knowledge?
There are many techniques for picking up insurance domain knowledge – reading, attending courses, on-the-job experience, etc.
But one of the biggest problems is that information is scattered. You don’t know what you’re reading sometimes because insurance as a topic is so vast and so wide.
You need to pick up insurance domain knowledge in a very focused and structured manner. And you want to make sure you’re not just wasting time surfing websites, taking in adhoc bits of information without assimilating it and seeing how everything fits together in the industry.
That’s where my book will help you:
- Learn how to obtain insurance domain knowledge quickly so that you can save time and effort and immediately apply your insurance knowledge on the job.
- Obtain an up-to-date view of the insurance industry, fully updated as at May 2019. so that you can have the confidence you have the latest trends and developments in insurance when you next face your insurance customer or stakeholder.
- Understand the top 5 trends that are affecting the insurance industry today so that you can credibly advise your stakeholders and clients on current developments and provide more valuable insight in your project.
What Is A Insurance Business Analyst?
A Insurance Business Analyst is a great job – you get to work on interesting projects the insurance sector, you get paid well and you usually get to travel.
You also get excellent career prospects and within a few years, insurance headhunters will be after you to fill up executive positions in insurance companies.
But exactly what does a Insurance Business Analyst do? Sometimes this is not clear.
If you read my book, you will understand what this role is about and whether it is the career for you.
My book will help you:
- What is a Insurance BA so that you can see what a insurance BA does in terms of roles and responsibilities and if it is your cup of tea
- Understand the critical skills of a Insurance BA so that you can understand if you have what it takes to be a Insurance BA and focus your effort on skilling up the areas that matter.
- Understand a “Day in the Life” of a Insurance BA so that you can see, in real-life, what a Insurance BA really does and decide if it is the correct career choice for you.
Insurance Business Analyst Skills
Gone are the days when a Business Analyst can get by with just pure “BA skills”, e.g. business process modeling, business case construction, SWOT analysis, etc.
The market is asking for more – my customers (i.e. insurance companies) are now looking for BAs with insurance domain skill sets – they should understand a broad area of insurance pretty well, e.g. insurance new business and underwriting, policy administration, claims management, reinsurance, billing and collections, etc.
If you have both BA and insurance domain skills, trust me – your value to insurance employers will jump manifold.
In this respect, my book will help you:
- Understand the difference between a Insurance BA and a Insurance PM so that you can decide if the Insurance BA or Insurance PM path is correct for you in the longer term
- Understand the framework companies like McKinsey use to analyze insurance operations so that you can have a consistent technique or lens with which to analyze any insurance operation you come across
- Understand how to talk to the C-level as a Insurance BA so that you can display gravitas and poise when speaking to senior management and successfully persuade them of your point of view.
- Learn the ONE skill a Insurance BA must have so that you can pick it up and succeed as a Insurance BA, regardless of what project or stakeholder situation you’re in.
Insurance Business Analyst Jobs
Insurance Business Analysts are in hot demand. If you look at the job classifieds in e.g. financial hubs like Singapore or Hong Kong, you can see many job opportunities. And these come with very attractive pay packages too.
The truth is, insurance companies need business analysts who understand the insurance domain, can develop solutions to increase revenue or cut costs.
These skill sets are almost always in demand in the insurance job market.
If you’re in the market for a Insurance BA job, my book can help you:
- Learn how to break into the insurance industry even if you have no prior experience so that you can package yourself correctly and finally get into the insurance industry to start building up your expertise
- Learn about the salary of Insurance BAs in the market so that you can negotiate a better deal for yourself in your next interview.
- Learn what jobs you can apply for as a Insurance BA so that you can focus your job hunting efforts on the most suitable and high-paying jobs
- Learn how to join Top-Tier Consulting Firms as a Insurance BA so that you can be part of the prestigious and highly-paid consulting fraternity like McKinsey, Bain and BCG, PwC, Deloitte, EY, KPMG, etc.
- Understand how to write a solid Insurance BA resume so that you can get interviews at the best Insurance BA employers you’re applying to
Insurance Business Analyst Career Path
So what does a Business Analyst do over the long term? Does he or she get “stuck in a role”?
In my opinion, far from it. I know Insurance Business Analysts who have gone on to become Project Managers, C-level executive or have jumped into business development. Others go on to start their own businesses, concentrating on providing business advisory to banks.
If you want to understand the medium and long term career prospects of a Insurance Business Analyst, my book will help you:
- Learn how to transition from IT BA to Insurance BA so you can finally “get out of IT” and into “the business”.
- Understand the job prospects of being a Insurance BA so that you can greatly increase your chances of finding a job that you love
- Learn about the pros and cons of being a Insurance BA so that you can see whether being a Insurance BA is for you
- Discover a case study of how I became a Insurance BA so that you can understand, in real-world terms, what it takes to become and succeed as a Insurance BA
Other Valuable Information
Hey, and that’s not all. On top of the above, you’ll also learn about:
- Learn about the top THREE certifications a Insurance BA should try to complete so that you can see what part-time certifications you can obtain to help boost your Insurance BA skills
- Understand the FIVE critical software programs a Insurance BA must master so that you can focus your time on picking up the right software skills and become a more effective BA.
- Learn about the FIVE websites you need to learn all about Insurance so that, just like the pros, you can regularly read just these five websites for insurance news and developments – instead of wasting time surfing all over the web.
So What’s A Resource Like This Worth?
If you scour the Internet to find related information about insurance domain knowledge, it most certainly will cost you a lot of time.
And you may not even find what you’re looking for – most likely there’s bits and pieces of information here and there which don’t give you a real-world, end-to-end view of insurance.
This book is the cumulative result of my 15 years’ expertise in Insurance Business Analysis – there is simply NO other resource like it out there.
Not even on Amazon – most of the books there are thick textbooks on specific insurance topics and don’t reveal much about what it is like being a real-world Insurance BA.
A full overview of what the insurance industry is about and how it operates – from its business models, customers, sales and distribution channels, products and services, through to front, middle and back-office operations across people, process and technology.
Once you read it, you can benefit from it almost immediately and start applying that knowledge on your next insurance project.
For a limited time only, I am offering Insurance Domain Knowledge For Business Analysts at a price of $12.99. This is an incredible price for gaining all that knowledge about the insurance domain.
Click “Add to Cart” to get your copy – for a $12.99 investment you’ll receive an immediate download in PDF format.
Since the book is available as a PDF – you can be reading it and discovering all this insurance domain know-how in a very short time.
My Personal Guarantee To You
And don’t worry, if for any reason you’re not happy with my book’s content, you have a complete guarantee to protect your investment.
100% RISK-FREE 60 DAY MONEY BACK GUARANTEE
If you don’t think the information in Insurance Domain Knowledge For Business Analysts will give you exactly what you need to forge a career as a Insurance Business Analyst, then just contact me within 60 days and I’ll refund your money immediately with no questions asked.
I’m here to help you. I am not interested in accepting your money if you are not satisfied with my product.
Because I want YOU to experience the same happiness, joy and confidence as I did when I finally learnt to carve out a successful Insurance Business Analyst career.
Now, you can only get this product from me. It’s not available in libraries or anywhere else on the Internet. In fact, I have only just written it for release on this site alone. And you can get all of this information downloaded to you right away.
To order your own personal copy, click here and lock in a price of $12.99. I’ll send the PDF book to you right away.
I’m confident you’ll find the information in Insurance Domain Knowledge For Business Analysts extremely helpful in helping you run insurance projects successfully.
But if you find the book is not a good fit for you, we offer a no-questions-asked 60 day money back guarantee. Simply drop me a note at this link and I’ll refund your money.
And remember – as always I’m here to help you in any way I can. Let me know if you’ve any questions at all.
Wishing you much success,