What are the responsibilities and job description for the Business Analyst With Insurance position at Happiest Minds Technologies Limited?
This role is responsible for configuring and maintaining **insurance carrier products** (primarily annuities, life insurance, and related products) within the **FireLight** platform for **National Financial Services (NFS)**, a major broker-dealer (part of Fidelity).
The position ensures that carrier products are accurately set up, compliant with broker-dealer rules, and fully functional for advisors/registered representatives to quote, illustrate, and submit applications electronically.
### Key Responsibilities
- **Product Configuration** — Build and configure new insurance carrier products in FireLight, including:
- Product rules, underwriting guidelines, rate tables, riders, and features.
- Data fields, forms, and application workflows.
- Suitability rules, compliance checks, and broker-dealer specific requirements.
- **Carrier Integration & Maintenance** — Work with insurance carriers to implement and update products, including new product launches, rate changes, form updates, and regulatory adjustments.
- **Testing & Quality Assurance** — Perform thorough testing of configured products (quoting, illustrations, e-app, e-signature) to ensure accuracy, compliance, and "In-Good-Order" (IGO) submissions.
- **Troubleshooting & Support** — Resolve configuration-related issues reported by advisors, operations, or carriers. Provide Tier 2/3 support for FireLight-related product questions.
- **Compliance & Suitability** — Configure and maintain broker-dealer suitability workflows, disclosures, and compliance forms within FireLight to meet FINRA, state, and NFS requirements.
- **Documentation** — Maintain detailed documentation of product configurations, change logs, and carrier specifications.
- **Collaboration** — Partner with carriers, NFS compliance, sales, operations, and technology teams. May coordinate with Hexure (FireLight vendor) for complex changes or platform updates.
### Required Skills & Experience
- **Strong understanding** of insurance products — especially fixed, indexed, and variable annuities, plus life insurance.
- **Hands-on experience** with **FireLight** platform (highly preferred) — or similar e-application/configurable insurance platforms (e.g., other Hexure tools, Encompass, etc.).
- Knowledge of broker-dealer operations and compliance (FINRA rules, suitability, advertising review).
- Experience with product rules engines, workflow configuration, and forms management.
- Strong analytical, problem-solving, and attention-to-detail skills.
- Ability to manage multiple carrier projects simultaneously.
### Nice-to-Haves
- Prior experience at a broker-dealer (especially NFS/Fidelity, LPL, or similar) or insurance carrier in product implementation.
- Background in insurance operations, new business processing, or sales support.
- Familiarity with API integrations or platform administration.