Marine Underwriter

Job Responsibilities

• Assess and underwrite Marine insurance risks, including Marine Cargo, Marine Hull, Marine Liability, and related products.
• Analyze risk factors such as cargo type, transportation routes, mode of transportation, insured values, and loss history.
• Determine appropriate premiums, coverage, exclusions, deductibles, and special terms in line with underwriting guidelines.
• Prepare and review quotations, policies, endorsements, and other underwriting documents.
• Handle new business and renewal accounts while monitoring claims experience and portfolio profitability.
• Analyze GWP, Loss Ratio, claims experience, and overall portfolio performance to support underwriting decisions.
• Build and maintain strong relationships with brokers, agents, customers, and business partners.
• Coordinate with Reinsurance teams for high-value, complex, or out-of-authority risks.
• Negotiate terms, conditions, and premiums with brokers and business partners to achieve optimal business results.
• Monitor Marine insurance market trends, emerging risks, and industry developments.
• Collaborate with Claims, Reinsurance, Finance, Risk Management, and other relevant functions.
• Ensure compliance with OIC regulations, company underwriting guidelines, and reinsurance requirements.
• Prepare underwriting reports and provide recommendations to management.

Qualifications

• Bachelor’s degree or higher in Insurance, Business Administration, Finance, Economics, Logistics, Management, or a related field.
• Minimum 3–5 years of experience in Marine Underwriting or Marine Insurance.
• Strong knowledge of Marine Cargo, Marine Hull, Marine Liability, and related insurance products.
• Good understanding of Marine risk assessment, underwriting principles, pricing, and policy coverage.
• Experience in analyzing premiums, claims, loss ratios, and portfolio profitability.
• Strong negotiation, communication, and stakeholder management skills.
• Good analytical and decision-making skills with a strong understanding of risk management.
• Proficient in Microsoft Excel and data analysis; experience with insurance systems is an advantage.
• Good command of English, particularly in Marine policy wording and reinsurance terms.
• Strong attention to detail, problem-solving skills, and ability to work effectively under pressure.