Insurance Business Analyst

Role Description

Who We Are:

Born digital, UST transforms lives through the power of technology. We walk alongside our clients and partners, embedding innovation and agility into everything they do. We help them create transformative experiences and human-centered solutions for a better world.

UST is a mission-driven group of 29,000+ practical problem solvers and creative thinkers in more than 30 countries. Our entrepreneurial teams are empowered to innovate, act nimbly, and create a lasting and sustainable impact for our clients, their customers, and the communities in which we live.

With us, you’ll create a boundless impact that transforms your career - and the lives of people across the world.

Visit us at UST.com.

You Are

You will work across the insurance value chain, and depth in at least two of the following areas is expected:

• Underwriting and pricing: rating model refresh, underwriting workbenches, risk selection, appetite strategy
• Claims: FNOL redesign, leakage reduction, fraud detection, claims automation
• Distribution: agent and broker channel strategy, embedded insurance, digital direct-to-consumer
• Policy and billing operations: core-system replacement (e.g., Guidewire, Duck Creek, Majesco), service center optimization
• Finance, actuarial and risk: IFRS 17 / LDTI, Solvency II, NAIC and state compliance, capital management
• Reinsurance: program structuring, treaty administration, recoveries
• Data and AI: analytics strategy, data platforms, generative AI use cases in service and claims
• M&A and strategy: market entry, due diligence, post-merger integration
  
  

The Opportunity

As a consultant, you will diagnose business problems and lead analysis and transformation work for insurance clients across underwriting, claims, distribution, policy administration, and finance. You will lead analysis of loss ratios, expense ratios, combined ratio drivers, retention, and new-business performance, and present findings and recommendations to C-suite and senior stakeholders.

You will also support core-system modernization, shape digital, data, and AI initiatives, contribute to proposals and thought leadership, and coach analysts and junior consultants.

This position description identifies the responsibilities and tasks typically associated with the performance of the position. Other relevant essential functions may be required.

Essential Functions

Client delivery:

• Diagnose business problems across underwriting, claims, distribution, policy administration, and finance
• Lead analysis of loss ratios, expense ratios, combined ratio drivers, retention, and new-business performance
• Design target operating models, process redesigns, and cost-reduction programs
• Build business cases, financial models, and implementation roadmaps
• Present findings and recommendations to C-suite and senior stakeholders
• Manage day-to-day workstreams, timelines, and deliverable quality
  
  

Transformation And Change

• Support core-system modernization (policy, billing, claims) and vendor selection
• Shape digital, data, and AI initiatives such as straight-through processing, claims automation, and pricing analytics
• Run PMO and governance for multi-workstream programs
• Drive change management, stakeholder alignment, and adoption
  
  

Practice And Business Development

• Contribute to proposals, RFP responses, and client pitches
• Develop thought leadership on market, regulatory, and technology trends
• Coach and review the work of analysts and junior consultants
  
  

What You Need

Required Qualifications:

• Bachelor's degree in business, finance, economics, actuarial science, engineering, or a related field
• 4–7 years of experience in management consulting, insurance operations, or a carrier strategy function
• At least 3 years working on insurance-sector engagements or roles
• Proven record of leading workstreams and delivering client-ready recommendations
• Strong command of insurance economics: premiums, reserves, loss and expense ratios, combined ratio
• Advanced Excel and PowerPoint; experience building financial models
  
  

Preferred Qualifications

• MBA or relevant master's degree
• Industry designations such as CPCU, AINS, FLMI, or ACAS/FSA progress
• Experience with core insurance platforms (Guidewire, Duck Creek, Sapiens, Majesco) or ERP/finance systems such as SAP FS-CD or S/4HANA
• Exposure to IFRS 17, LDTI, or Solvency II programs
• Familiarity with data tools (SQL, Power BI, Tableau, Python)
• Agile or PMP certification
  
  

Compensation can differ depending on factors including but not limited to the specific office location, role, skill set, education, and level of experience. UST provides a reasonable range of compensation for roles that may be hired in various U.S. markets as set forth below.

Role Location: Ontario, Canada

Compensation Range: 139,000 CAD - 174,000 CAD

Benefits

Full-time, regular employees accrue a minimum of 10 days of paid vacation per year, receive 6 days of paid sick leave each year (pro-rated for new hires throughout the year), paid holidays, and are eligible for paid bereavement leave and jury duty. They and their dependents residing in Canada are eligible for Supplemental Healthcare coverage, as well as Company-paid Employee Only basic life insurance and accidental death and dismemberment coverage.

Full-time temporary employees receive 6 days of paid sick leave each year (pro-rated for new hires throughout the year). They and their dependents residing in Canada are eligible for Supplemental Healthcare coverage, as well as Company-paid Employee Only basic life insurance and accidental death and dismemberment coverage.

Part-time regular and temporary employees receive 6 days of paid sick leave each year (pro-rated for new hires throughout the year).

All Canadian employees who work in a province, territory or locality with more generous paid sick leave benefits than specified here will receive the benefit of those sick leave laws.

Artificial Intelligence in Recruitment

As part of our recruitment process, UST may use AI or automated tools to support activities such as application screening, scheduling, or interview assistance. All hiring decisions are made by our recruitment team. Where applicable law requires it, further notice will be provided separately.

L’intelligence artificielle en soutien au recrutement

Dans le cadre de son processus de recrutement, il se peut que UST peut utiliser ait recours à l'intelligence artificielle ou à des outils automatisés réaliser des en soutien à des activités telles que l’examen comme la présélection des candidatures, la planification ou l'assistance lors des entrevues ou leur bon déroulement. Toutes les décisions d'embauche sont prises par notre équipe de recrutement. Lorsque la législation applicable l'exige, un avis supplémentaire à cet égard sera fourni séparément.

What We Believe

We proudly embrace the values that have shaped UST since day one. We build our culture of Humility, Humanity, and Integrity. These values inspire us to nurture a people-first, human centric culture that fosters diversity, prioritizes sustainable solutions, and keeps our people and clients at the forefront of all decisions.

Humility

We will listen, learn, be empathetic and help selflessly in our interactions with everyone.

Humanity

Through business, we will better the lives of those less fortunate than ourselves.

Integrity

We honor our commitments and act with responsibility in all our relationships.

An Equal Opportunity Workplace, Free of Discrimination and Harassment

At UST, we strive to provide a work environment free of discrimination and harassment. We are an equal opportunity employer, and employment decisions are based on merit and business needs. Our Human Rights Policy further illustrates our stand on this. We are committed to following fair employment practices that provide equal opportunities to all employees. We do not discriminate or allow harassment on the basis of race, color, religion, disability, gender, national origin, sexual orientation, gender identity, gender expression, age, genetic information, military status, or any other legally protected status. At UST, we value diversity and believe that a diverse workplace builds a competitive advantage.

Un lieu de travail à égalité des chances, sans Discrimination et harcèlement

Chez UST, nous nous efforçons de fournir un environnement de travail exempt de discrimination et harcèlement. Nous sommes un employeur garantissant l'égalité des chances et des décisions en matière d'emploi sont basés sur le mérite et les besoins de l'entreprise. Notre politique en matière de droits de l'homme illustre notre position à ce sujet. Nous nous engageons à respecter un emploi équitable des pratiques qui offrent des chances égales à tous les employés. Nous ne faisons pas discriminer ou permettre le harcèlement sur la base de la race, de la couleur, de la religion, du handicap, genre, origine nationale, orientation sexuelle, identité de genre, expression de genre, âge, informations génétiques, statut militaire ou tout autre statut légalement protégé. Chez UST, nous valorisons la diversité et pensons qu'un lieu de travail diversifié crée un avantage compétitif.

UST reserves the right to periodically redefine your roles and responsibilities based on the requirements of the organization and/or your performance.

#UST

Skills

Stakeholder Management, Project Management, Consulting