Explore jobs
Find specific jobs
Explore careers
Explore professions
Best companies
Explore companies
The differences between underwriting technicians and marine underwriters 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 $44,704 average annual salary of an underwriting technician.
The top three skills for an underwriting technician include cancellations, insurance policies and data entry. The most important skills for a marine underwriter are profitable business, risk analysis, and loss ratio.
| Underwriting Technician | Marine Underwriter | |
| Yearly salary | $44,704 | $77,871 |
| Hourly rate | $21.49 | $37.44 |
| Growth rate | -4% | -4% |
| Number of jobs | 8,615 | 16,546 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 54% | Bachelor's Degree, 77% |
| Average age | 44 | 44 |
| Years of experience | - | - |
Underwriting technicians may also be known as underwriters or underwriting assistants. They determine which customers qualify for various insurance policies or loans. Their duties include finding information, writing quote letters, checking customer eligibility, and arranging loans. They are expected to carry out background checks and credit history checks for clients seeking insurance. They diligently analyze applications of clients based on certain criteria.
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.
Underwriting technicians and marine underwriters have different pay scales, as shown below.
| Underwriting Technician | Marine Underwriter | |
| Average salary | $44,704 | $77,871 |
| Salary range | Between $28,000 And $69,000 | Between $53,000 And $113,000 |
| Highest paying City | - | - |
| Highest paying state | - | - |
| Best paying company | - | - |
| Best paying industry | - | - |
There are a few differences between an underwriting technician and a marine underwriter in terms of educational background:
| Underwriting Technician | Marine Underwriter | |
| Most common degree | Bachelor's Degree, 54% | Bachelor's Degree, 77% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between underwriting technicians' and marine underwriters' demographics:
| Underwriting Technician | Marine Underwriter | |
| Average age | 44 | 44 |
| Gender ratio | Male, 25.2% Female, 74.8% | Male, 59.5% Female, 40.5% |
| Race ratio | Black or African American, 8.9% Unknown, 2.5% Hispanic or Latino, 9.6% Asian, 5.6% White, 73.1% American Indian and Alaska Native, 0.4% | 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% |
| LGBT Percentage | 9% | 9% |