DISCOVER YOUR OPTIONS

A career at sea or a shorebased role? Find out more about the various career options in Maritime Singapore here.

MARINE INSURANCE CLAIMS HANDLER

WHAT IT IS

Marine insurance covers the loss and damage of ship cargoes, terminals, ships and their properties. A marine insurance claims executive strives to provide equitable solutions to claims to clients. Their job scope includes the following:

  • Receiving, recording and processing all incoming insurance claims
  • Interpreting policies and determining the coverage of claims made on marine insurance policies
  • Liaising with P&I Clubs, shipowners or surveyors on all claims related matters
  • Recommending claim adjustors on settlement of claims under the marine insurance policy
  • Maintaining current knowledge of insurance guidelines and policy changes and modifications
  • Providing information and feedback on claims activity and developing trends to underwriters/risk assessors to enable appropriate actions to be carried out

The 5 main types of insurance covers are:

  • Marine Hull Insurance
  • Marine Liability Insurance
  • Marine Cargo Insurance
  • Offshore/Energy
  • Protection & Indemnity

Entry level marine insurance claims handlers earn a monthly salary of about $2,200 for diploma holders and $2,500 to $3,300 per month for university graduates, not inclusive of competitive bonuses depending on performance.

*Salary data based on industry surveys conducted by Maritime and Port Authority of Singapore (MPA) for reference only. Actual salaries may differ due to market conditions and company/organisation policies.

WHAT IS REQUIRED

  • A degree or diploma in any one of the following disciplines: Business, Economics, Insurance or Law
  • Strong analytical and numerical abilities
  • Ability to work under pressure and with tight deadlines
  • Strong customer service orientation
  • Good communication and negotiation skills
  • Proficiency in verbal and written English

CAREER PROSPECTS

FIND OUT MORE

Insurance Companies - Singapore Maritime Services Guide
Maritime and Port Authority of Singapore – Marine Insurance Services

OTHER RELATED LINKS

Video - Role of the Marine Insurance Broker
Marine Insurance Underwriter
Maritime Lawyer
Other Featured Careers

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About The MSC Office

The Maritime Singapore Connect (MSC) Office is a national initiative, supported by the Maritime and Port Authority of Singapore, to profile the maritime industry and connect students and jobseekers with the multiple pathways into the industry.

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Maritime Singapore Connect

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Singapore Maritime Foundation

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MPA Singapore

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