Business Analyst - Insurance Domain

Malaysia

Joining Capco means joining an organisation that is committed to an inclusive working environment where you’re encouraged to #BeYourselfAtWork. We celebrate individuality and recognize that diversity and inclusion, in all forms, is critical to success. It’s important to us that we recruit and develop as diverse a range of talent as we can, and we believe that everyone brings something different to the table – so we’d love to know what makes you different. Such differences may mean we need to make changes to our process to allow you the best possible platform to succeed, and we are happy to cater to any reasonable adjustments you may require. You will find the section to let us know of these at the bottom of your application form or you can mention it directly to your recruiter at any stage and they will be happy to help.

ABOUT CAPCO

Capco is a global technology and business consultancy, focused on the financial services sector. We are passionate about helping our clients succeed in an ever-changing industry. You will work on engaging projects with some of the largest banks in the world, on projects that will transform the financial services industry.

THE ROLE

The Business Analyst – Insurance Transformation will support business and technology transformation initiatives across Life, General, and/or Motor Insurance. The role focuses on understanding business needs, analysing current processes, eliciting and documenting requirements, and supporting the delivery of technology-enabled business change.

Working closely with business stakeholders, product owners, technology teams, and delivery partners, the Business Analyst will act as a key liaison between business and technology teams to ensure requirements are clearly defined and solutions are aligned to business objectives.

Key Responsibilities:

1) Business Analysis & Requirements Management

Gather, analyse, and document business, functional, and non-functional requirements.

Conduct stakeholder interviews, workshops, and requirements gathering sessions.

Translate business needs into detailed requirements, user stories, process flows, and functional specifications.

Maintain requirements traceability throughout the project lifecycle.

Support prioritisation of requirements and scope management activities.

2) Process Analysis & Improvement

Analyse and document current-state business processes, workflows, and operating models.

Identify process gaps, inefficiencies, risks, and opportunities for improvement.

Develop future-state process maps and support process re-engineering initiatives.

Assist stakeholders in evaluating options and recommending process improvements.

3) Stakeholder Management & Collaboration

Collaborate with business stakeholders, product owners, SMEs, technology teams, and external vendors.

Facilitate workshops and working sessions to validate requirements and obtain stakeholder alignment.

Support communication between business and technical teams to ensure shared understanding of requirements and expected outcomes.

Assist in managing stakeholder expectations throughout project delivery.

4) Solution & Delivery Support

Work closely with solution architects, developers, and delivery teams to ensure solutions meet business requirements.

Support impact assessments for business process, system, and organisational changes.

Participate in solution reviews and requirements validation activities.

Assist with change requests and requirement clarifications during implementation.

5) Testing & Implementation Support

Develop and review test scenarios, test cases, and acceptance criteria.

Support User Acceptance Testing (UAT), defect management, and business validation activities.

Assist with implementation planning, business readiness, and transition activities.

Support post-implementation reviews and benefits realisation tracking.

Required Experience

5-10 years of experience as a Business Analyst within insurance transformation programmes.

Strong domain knowledge across Life, General, and/or Motor Insurance.

Experience supporting business and technology transformation initiatives.

Proven experience in requirements gathering, process analysis, and stakeholder management.

Experience working within Agile, Waterfall, or hybrid delivery environments.

Previous consulting or advisory experience would be advantageous.

Transformation & Delivery Knowledge

Understanding of end-to-end insurance value chains and core insurance platforms.

Familiarity with policy administration, claims, underwriting, distribution, and customer servicing processes.

Experience supporting digital transformation and process improvement initiatives.

Knowledge of Agile delivery methodologies, including backlog management and user story development.

Experience working in multi-vendor and cross-functional delivery environments.

Exposure to UAT planning, test execution, and implementation support activities.

WHY JOIN CAPCO?

You will work on engaging projects with some of the largest banks in the world, on projects that will transform the financial services industry.

We offer:

A work culture focused on innovation and building lasting value for our clients and employees

Ongoing learning opportunities to help you acquire new skills or deepen existing expertise

A flat, non-hierarchical structure that will enable you to work with senior partners and directly with clients

A diverse, inclusive, meritocratic culture

Enhanced and competitive family friendly benefits, including maternity / adoption / shared parental leave and paid leave for sickness, pregnancy loss, fertility treatment, menopause and bereavement

NEXT STEPS

If you’re looking forward to progressing your career with us, please do not hesitate to apply. We are looking forward to receiving your application.

To learn more about Capco and its people check out the website on www.capco.com