Hi, I’m
Mayur Parakh
Associate Director - Business Analysis
Pune
Summary
Insurance consultant with over 16 years of industry exposure. Deep domain expertise in P&C and life insurance products, proven track record in product implementation (Insurity Bridge PAS), consulting, client management and managing large engagements.
Have had opportunities to work in various onshore & offshore roles and gathered a strong understanding in multiple disciplines including - Insurance Domain (P&C Insurance, Life Insurance, Employee Benefits etc), Technology, Software & Product Development, Insurance Operations, Sales & Pre-sales
Have worked and led various Strategic, Transformational projects across the Insurance value chain including - Digital transformation, Product development, Product implementation, Production support, Process improvements, Mobile enablement, Analytics
Overview
16
years of professional experience
7
years of post-secondary education
4
Certifications
Work History
Business Analysis
Associate Director
LTIMindtree
LCNC Practice Lead
02.2023 - Current
Job overview
- Establish and lead LCNC product implementation practice for Insurance BU, focusing on platforms such as Innoveo Skye and Insurity Bridge
- Manage Product Implementation Teams for Multiple clients in US
- Manage Product Alliances and Client relationships
- Engaging in consulting and Solutions strategies with the clients
- Provide visibility into risks, issues, and opportunities to the executive management team via ongoing conversations, monthly updates.
- Pre-sales, RFP responses, Solutioning, Conduct POC's
Leading American P&C Insurer
Product Implementation Lead & Engagement Manager
02.2019 - Current
Job overview
- Leading product implementation engagement for a Major US insurer
- Working closely with the clients Enterprise Architecture team and conceptualize solutions that align with their Enterprise Architecture
- Designed reusable modular Services for Bridge and implemented it for various products thus reducing the development efforts and improving the GTM drastically
- Hands -on - Solution Architecture and Design, Business architecture, configurator, System analysis, configuration review
- Mentor product configuration teams
- Advisor to clients business executives
- Work closely with project sponsors for end-to-end project management activities.
World's Largest Insurance Broker
Lead Consultant
01.2018 - 12.2018
Job overview
- This project was undertaken with the objective of re-writing and remediating 20 applications and a few components before hosting them in the Brokers network with an aim to provide greater flexibility to business to respond to the ever changing market needs
- Working closely with the client to formulate project strategies and building strong relations across all levels
- Conduct due diligence and analysis for near to accurate effort estimations and set expectations with the client
- Conducted project initiation meetings and laid down the projects charter
- Leading a team of business analysts and .NET developers for technical and functional analysis of the applications.
- Bridge between client and the implementation team and Lead end to end implmentation
Leading South African Bank
Program Manager
06.2015 - 01.2018
Job overview
- Managing the Internet Banking Platform and Mobile App, facilitating sales and service of Insurance products through the Internet banking platform
- Actively participate in formulation of Digital strategies through thought leadership, industry benchmarking and innovation
- Bring in Insurance domain expertise and technical understanding of the internet banking platform to facilitate strategies and roadmap for their platform
- Work in close coordination with project stakeholders for end-to-end project management activities including project scoping, cost estimation, scheduling, quality, resource management, communication management, risk management and effort estimation
- Delivered first of its kind fully automated claims registration process for banks Insurance company thus reducing the call center traffic for FNOL by ~35% in the first year of implementation
- Facilitated investment of credit card rewards into unit trust Investment, thus increasing their Asset under management.
Education
Pune UniversityPune
Masters of Business Administration
03.2004 - 05.2006
SymbiosisPune
Bachelors Of Commerce
04.1999 - 05.2004
Skills
Property and Casualty Insurance
undefinedCertification
Bridge Configuration, Insurity
Previous Organizations
TATA Motors Insurance Broking and Advisory Services (10/2009 - 11/2012)
SENIOR MANAGER - CORPORATE SALES & SERVICE
Rest of Maharashtra & Bangalore
- Sales, service and Risk Advisory of corporate insurance products
- Structuring the insurance programs for large corporate clients through reviewing the current insurance programs, identifying gaps and benchmarking industry practices
- Evaluating insurance companies and negotiating on behalf of the client for the best deal
ICICI Prudential Life Insurance Co Ltd (07/2006 - 10/2009)
SENIOR FINANCIAL SERVICES MANAGER
Rest of Maharashtra
- Sales and service of retail and group insurance products
Timeline
LCNC Practice Lead
LTIMindtree
02.2023 - Current
Product Implementation Lead & Engagement Manager
Leading American P&C Insurer
02.2019 - Current
Lead Consultant
World's Largest Insurance Broker
01.2018 - 12.2018
Program Manager
Leading South African Bank
06.2015 - 01.2018
Pune University
Masters of Business Administration
03.2004 - 05.2006
Symbiosis
Bachelors Of Commerce
04.1999 - 05.2004
Associate Director
Business Analysis
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