Hello Fellow Sailors
As many of you now or in the past, I too have transitioned from seagoing to shoreside. I am entering the wonderful (not) world of insurance for the marine sector, focusing on ocean cargo. Having sailed nearly 5 years, i guess this was the next best stepping stone to find a place closer to family.
Anyways, for those of you who too have left seagoing for shoreside and find yourself in the ocean marine/cargo/underwriting arena, id like to pick your brain.
As I am quickly finding, ocean cargo insurance too is just as unregulated and outdated as many laws pertaining to us at sea. Seeing how underwriters “write the business” or how companies “plan” for the cargo voyage, they dont have a solid picture of actual operations. However, they get by with metrics that have been used for centuries.
I WANT TO CHANGE THAT.
Seeing how underwriters conduct their business, they essentially ask varied questions about the cargo and what exposures (weather, transport modes, value, ways it was packed, etc) and determine a fair market value to insure the goods should a loss occur. Well, seems pretty simple enough, however it seems a bit too complicated.
For those out there that are in this arena, I’d appreciate you sharing your thoughts on how you see/simplify/conduct your business/found areas of improvement/etc,. This needs to change and I have my gCaptain family to ask for guidance.