Marine Insurance Claims Handler

Marine Insurance Claims Handlers/Marine Underwriters manage claims which cover the loss and damage of ship cargo, terminals, and the ship, among other properties.

Marine Insurance Claims Handler Job Description

Receive, record and process incoming insurance claims.
Determine the coverage of claims.
Liaise with stakeholders.
Provide colleagues with insight on claims activities and developing trends
Provide recommendations to colleagues such as claims adjusters.

Note

Marine Insurance Claims Handlers oversee five main types of insurance covers. They are Marine Hull Insurance, Marine Liability Insurance, Marine Cargo Insurance, Offshore/Energy as well as Protection and Indemnity.

What you should know about Marine Insurance Claims Handler jobs in Singapore

Nature of Work

Marine Insurers are great business negotiators. You will provide your clients with the best solution and protect them.

Key Advice

In a fast-paced environment, you need to have good time management skills.

Entry Requirements

Entry Requirements
A degree or diploma in Business, Economics, Insurance, or Law.

Strong aptitude for identifying patterns, trends, and insights from numerical information.

Ability to work under pressure and with tight deadlines

Having an understanding of Maritime Law is also useful and will set you apart from your peers!
Possible Pathway

Possible Pathway

Skills you need to pursue a Marine Insurance Claims Handler job in Singapore

Hard Skills

Customer Service

Proficiency in customer service is important for effectively handling client queries and providing support.

Knowledge of Insurance Guidelines and Policy Changes

In-depth knowledge of recent changes is vital for accurate claim processing.

Numerical Skills

Strong numerical skills are essential for calculating claim amounts and premiums.

Soft Skills

Analytical Skills

Excellent analytical abilities are vital for assessing claim validity, risk analysis and policy interpretation.

Business Negotiation Skills

Essential for resolving claims effectively, securing fair deals and maintaining client trust.

Communication

Effective communication is crucial for articulating insurance terms & negotiating settlements with clients.

Frequently asked questions (FAQs)

Are the duties of Marine Insurance Claims Handlers dull and repetitive?

Marine Insurance Claims Handlers handle standard cases and occasionally take on challenging ones, offering a dynamic work experience.
Who are Marine Insurance Claims Handlers liaising with?

Marine Insurance Claims Handlers collaborate with a range of professionals, including clients, colleagues, and external stakeholders such as shipowners to ensure efficient claim processing.
What do Marine Insurance Claims Handlers do to negotiate claim settlements?

Upon receiving loss notifications and relevant documentation from clients, Marine Insurance Claims Handlers survey the claim's validity and calculate incurred losses based on the contract. They then negotiate settlements to achieve acceptable outcomes for clients.
What do Marine Insurance Claims Handlers do when you encounter difficult clients?

They explain the situation to him/her and negotiate a solution both parties can agree on.
How long would Marine Insurance Claims Handlers take to process a claim?

After the settlement is agreed upon, it generally takes less than a week for payment to be credited.