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New Post 2/27/2008 7:16 AM
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User is offline anonymous
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What are Annuities and what are the roles and responibilites? 

Hello Friends,

I would like to know the roles and responibilites of a BA in Annuites Field.

Since Annuties are as popular as Life Insurance especially in US, this vertical is also maturing well,

Recently i attended an interview for Annuity BA.I couldnt able to answer few quires related to the Roles and Responsibilites of BA in Annuity Verticle,other than regualar BA roles.

I heard that Annuity are very close to the Life Insurance domain.Can some one help me out.

Thanks in advance,

Regards,

fani

 

 
New Post 2/27/2008 7:55 PM
User is offline Chris Adams
319 posts
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Re: What are Annuities and what are the roles and responibilites? 
Modified By Chris Adams  on 3/3/2008 5:58:32 PM)

 phani wrote

Hello Friends,

I would like to know the roles and responibilites of a BA in Annuites Field.

Since Annuties are as popular as Life Insurance especially in US, this vertical is also maturing well,

Recently i attended an interview for Annuity BA.I couldnt able to answer few quires related to the Roles and Responsibilites of BA in Annuity Verticle,other than regualar BA roles.

I heard that Annuity are very close to the Life Insurance domain.Can some one help me out.

Thanks in advance,

Regards,

fani

Hello Phani,

First, I'm sure you can find a ton of information on annuities as they are quite common financial instruments.  But here is what I know off the top of my head.

Annuities are financial instruments that you purchase by giving the company that offers the annuity (often insurance companies) a lump sum of money today.  In return, they give you periodic payments of principal and interest for a specified number of years.  A lot of people use this form of financial instrument to gaurantee a steady amount of income in retirement.

Some annuities start paying out right away, while other may deferred the payments and grow with the interest being tax free.  Then you would receive all of the money (principal and interest) at the end of the period and get taxed only once on the final amount of interest.

Most BAs wouldn't deal with this kind of work.  Typically, this would be done by a financial analyst or financial advisor.  With that said, some Business Analysts don't focus on IT systems at all and do take on a partial role of financial analyst along with other tasks such as focusing on a companies strategic growth.


Chris Adams
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New Post 3/17/2008 10:45 AM
User is offline ChristineM
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Re: What are Annuities and what are the roles and responibilites? 

Hi Phani - what Cadam5 is partially true. I work for an insurance company and we have an Annuities Division. That Division has a dedicated Model Office where they design/manage software to help support the folks out in the field who actually sell the annuities, so there is absolutely a market for analysts to understand Annuities. I know people who have come out of the business side over to the analysis side and they bring over quite a bit of knowledge to help create better software. As for what an Annuity is, Cadam5 is right on.

 
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