'Need' is not
necessarily accurate, you can decide what additional protection it affords, depending on what your configuration/investment might be.
As Bruce suggests, there are essentially three classes of water cooling:
1. All Raw water (sourced externally from wherever the boat is used, whether this be 'fresh' lake water or ocean brine) - this system is going to cool everything, including the engine galleries and the exhaust manifolds/risers. There are a LOT of boats being in used in Salt Water that are going to be this config. Ideally, the system is flushed with fresh water whenever the boat is pulled out of the water.
2. A half system - this employs a closed loop cooling system for the Engine, somewhat like your car - except instead of a radiator, it uses a water to water heat exchanger where the 'sea' (sic) water removes the heat from the coolant; so you have the sea water pump which circulates that external water supply and a second water pump on the engine coolant system. The Manifolds/Risers are still going to be cooled by the Raw Water.
3. A Full System - cools everything, including the manifolds/riser in a closed loop system
Most kits that are either factory installed or retrofit, are going to be half systems, which still leaves exposure for the Manifolds/Risers. So recognize if you add these kits it's about $2500 or so per motor to give you that capability. Incidentally a replacement Manifold/Riser kit runs about $1000 (more for taller risers) which is not as bad as might be expected.
My VP 8.1 boat is used predominantly in sea-water but has NO closed loop cooling. This model engine was designated OSi however, as their 'Ocean Series', specifically for use in Brine.
One great feature of the Ocean Series XDP drive is a revolutionary structural composite that provides exceptional impact protection, lower weight, greater fuel economy and a hydrodynamic profile with 10% less drive drag. Onboard oil reservoir, integrated trim function and power steering are standard. This design also requires fewer parts for increased reliability and provides increased exhaust area for reduced backpressure and improved engine performance.
Equipped with a standard fresh water flush port, Ocean Series models feature Volvo Penta’s exclusive Neutra-Salt Engine Flushing System as standard equipment. Corrosion resistance is further enhanced through the use of stainless steel fasteners, coated oil pans and EDP treated exhaust manifolds and risers.
I'm not sure how much added protection there is on the 'treated' manifolds, however the semi-automated Neutra Salt system* is IMO a valuable asset.
What this comprises, is a reservoir tank that holds the Neutra Salt plumbed via a Solenoid Valve into the Water Intake Line; so at the end of the day, you operate the Solenoid for 30-45 secs before shutting off the engine, which disperses the Neutra Salt throughout the Cooling System to mitigate the corrosive effect of the Salt Water.
(* See
here for a test on its effectiveness)
Now that system would be quite easily retrofit and be beneficial even if you already have (or intend to add) a half system retrofit. It's additional protection for the exposed system, especially if your engine can't be flushed immediately after use for the day.