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The differences between marine underwriters and insurance analysts can be seen in a few details. Each job has different responsibilities and duties. Additionally, a marine underwriter has an average salary of $77,871, which is higher than the $55,424 average annual salary of an insurance analyst.
The top three skills for a marine underwriter include profitable business, risk analysis and loss ratio. The most important skills for an insurance analyst are insurance coverage, insurance policies, and life insurance.
| Marine Underwriter | Insurance Analyst | |
| Yearly salary | $77,871 | $55,424 |
| Hourly rate | $37.44 | $26.65 |
| Growth rate | -4% | -4% |
| Number of jobs | 16,546 | 44,280 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 77% | Bachelor's Degree, 58% |
| Average age | 44 | 44 |
| Years of experience | - | - |
A marine underwriter provides insurance cover to necessary clients. The responsibilities of this position include providing insurance for naval vessels such as boats and ships and providing valuation for a vessel or cargo. To provide this valuation, they weigh in the value of the freight, the price of the vessel, and the area where the vessel operates. The valuation will ensure a client is adequately covered in cases of unforeseen losses.
An insurance analyst provides analytical services to maintain an efficient workflow at insurance companies. They are typically in charge of evaluating insurance policies to identify possible risks for the policyholder and the company, validating client information, and reviewing insurance applications to ensure their accuracy. They may meet with clients to answer inquiries, make arrangements, and advise which policies suit them the best. Moreover, an insurance analyst may process policy renewals and amendments, maintain records, perform cancellations, and investigate claims while adhering to the company's policies and regulations.
Marine underwriters and insurance analysts have different pay scales, as shown below.
| Marine Underwriter | Insurance Analyst | |
| Average salary | $77,871 | $55,424 |
| Salary range | Between $53,000 And $113,000 | Between $34,000 And $88,000 |
| Highest paying City | - | San Francisco, CA |
| Highest paying state | - | California |
| Best paying company | - | Credit Karma |
| Best paying industry | - | - |
There are a few differences between a marine underwriter and an insurance analyst in terms of educational background:
| Marine Underwriter | Insurance Analyst | |
| Most common degree | Bachelor's Degree, 77% | Bachelor's Degree, 58% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between marine underwriters' and insurance analysts' demographics:
| Marine Underwriter | Insurance Analyst | |
| Average age | 44 | 44 |
| Gender ratio | Male, 59.5% Female, 40.5% | Male, 28.7% Female, 71.3% |
| Race ratio | Black or African American, 8.1% Unknown, 2.5% Hispanic or Latino, 10.5% Asian, 5.6% White, 72.9% American Indian and Alaska Native, 0.4% | Black or African American, 11.1% Unknown, 2.4% Hispanic or Latino, 9.0% Asian, 5.4% White, 71.7% American Indian and Alaska Native, 0.4% |
| LGBT Percentage | 9% | 9% |