Priyanka,
Job of BA is more or less, the same in any vertical. Be it Insurance, healthcare, finance, etc. Taking the example of Business Analyst role in an IT company for Insurance projects, his primary role would be to understand and capture the requirements of the customer for IT project, document them and communicate them to the technical team. BA also ensures that the functional and business requirements are met once the project is developed by the technical team. Therefore, for Insurance projects, you should have a domain knowledge. But recruiters, while hiring BA, do not guage only domain knowledge, but they also look for strong analytical skills and knowledge of various methodologies best practices.
Within Insurance, we have life and non-life Insurance. For life insurance, there is a globally recognized certification called LOMA. http://www.loma.org/IndexPage-Educ&Training.asp Visit this url for more details. I am finding out the certifications for non life insurance.
Regards,
Rajesh