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So I'm 28, college graduate, worked in the auto insurance industry since college. I spent 3 years working claims which I HATED. Transferred positions within the same company and landed a cool job for 18 months; working as a field inspector the underwriting department. That didn't end well and more importantly, after a few years it would become a dead-end job. I didn't have any authority as the underwriters would make the final call. I was ready to leave that company anyways.
That was two years ago. I spent months and months in 2012 looking to get into underwriting but its very hard without any experience. So I gave up and got back into claims in late 2012 with a different company. I signed up for a one year contract and I counted the days as I never thought I'd have to deal with claims again. I finished the contract on good terms.
Since late 2013, I sold my house, used some of the money to get my parents a house and traveled the world for 3 months. I decided to obtain the state sales agent license as I figure that would be somewhat helpful for underwriting. Maybe even try insurance sales even though I feel like my education and experience wouldn't count for much if I do. So I officially got the license yesterday after the states background check.
So as of now, I'm put in a very unique situation. I have plenty of own money, very little bills (staying with my parents til i get a job), and I'm pretty good with the stock market so I'm making about 1k a month with that. I don't NEED a job for income but I WANT one to keep myself busy and establish myself for the future. Problem is, I don't know what.
Should I leave the insurance industry even though I have 6+ years experience?
Nobody can answer that for you. It's your life. There are no "shoulds."
You have some financial freedom to explore some things. What other areas interest you?
I agree with this.
You are in a favorable situation. To help you, I would consider three factors...
1) What do you like, what are your interests?
2) What are you good at? What types of jobs would your personality/work ethic/physiology be amenable to?
3) What kind of a lifestyle would you prefer? We all want more $, but since you have worked before, you know how much pays for what. So what level of comfort would be acceptable to you?
I'm guessing you'll need another degree if you want to change careers.
You expressed some interest in Underwriting. What do you need to do to get that experience ( I think it involves school and some heavy math but I'm not sure) If soi do you want to spend time going up that path?
If not as others have suggested find something you do want to do . It seems you are lucky enough to be able to invest time into building a new path, go for it.
You can't really work halfway at being an insurance agent. Building up your book of business requires daily hustle and customer contact. It doesn't really sound like something you have to mindset to do right now.
But it would be a shame to toss all that experience, especially in an industry that is not going away.
What do you think is the big hurdle keeping you from a job in underwriting?
Leave the insurance industry and do what? Even if you knew what you wanted to do, it doesn't sound like you have the work experience to get a job in anything else.
You can't really work halfway at being an insurance agent. Building up your book of business requires daily hustle and customer contact. It doesn't really sound like something you have to mindset to do right now.
But it would be a shame to toss all that experience, especially in an industry that is not going away.
What do you think is the big hurdle keeping you from a job in underwriting?
Experience.
And not being able to get the designations / licenses to fill in that gap. They are all online classes. Read the book and take the test in person. I'm an audio learner and I miserably failed the test...it was one of the easier ones too.
I went thru college easy, finished in 3.5 years being an audio learner. That test is by far the hardest test I ever took. I just can't read a book and pass the test. They don't offer classroom learning.
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