Image of career: Marine Insurance Underwriter

Marine Insurance Underwriter

Overview

Marine insurance underwriters evaluate their clients’ risks and decide whether to provide insurance coverage.

Description

  • Underwrite marine insurance policies.
  • Provide recommendations to claim andlers.
  • Discuss the best course of action with solicitors and third parties.
  • Assess and ensure that risks and prices meet client expectations.
  • Collaborate with marine insurance claim handlers to ensure quick turnaround times.

Entry requirements

  • To get started, you'll need a Degree in Maritime Studies, Accounting, Business, Economics, or Law.
  • It’s also important for you to be able to work under pressure and meet tight deadlines.

Salary

$3,800 – 5,000

/mo

Salary ranges are estimated based on public information found on Singaporean job portals, including MyCareersFuture, MySkillsFuture. Updated as of 2026.

Trivia

Marine insurance underwriters have to be strong communicators to represent their client’s best interests to multiple people, including customer service teams, brokers, and agents.

What to expect

You should build strong relationships with customer service teams and make good decisions authoritatively within tight deadlines.

Soft
skills

Analytical Skills

Able to examine complex insurance applications to identify potential risks and needs.

Attention to Detail

Able to review insurance documents carefully and ensure accuracy.

Business Negotiation Skills

Capable of negotiating terms and conditions with clients and brokers.

Commercial Knowledge

Good understanding of the business aspects of marine insurance.

Math Skills

Trained to use mathematical skills to assess risks and calculate policy premiums.

Risk Assessment Software

Familiar with using specialised software to evaluate insurance applications and manage policy portfolios.

Hard
skills

Frequently asked questions

Marine insurance covers many areas including loss and damage of cargo, and damage to vessels, terminals and port facilities.

Marine insurance underwriters are kept continually busy anticipating changes in technological, economic, and political environments.

They discuss the risks and expected insured amounts for to reach an agreement for both parties.

They have to ensure that, in the case of any incident, the contracts benefit both the company and clients fairly.

They need details about the job, known site hazards, access arrangements, personnel and visitor safety, particulars about the vessel, and cargo drawings and specifications.