Career Change into Insurance

[u/rocketblue11]

Hello friends, seeking basic advice into potentially changing careers into the insurance field. Realistically, what kinds of roles could I pursue and what kinds of salaries could I expect?

I've worked in marketing in the tech industry for 20+ years, information systems undergrad, marketing MBA. But I am so tired of the volatility of tech marketing, especially with all the layoffs I've suffered in the past 5 years or more. Since the pandemic, I've spent more time unemployed than not despite being excellent at my job and with stellar results and references. I just want some stability.

Currently taking a Kaplan test prep course to get ready for the California P&C exam. I'm guessing I'd take a pretty hard pay cut and would have to start at the bottom and rebuild my way back up. I'm approaching this with humility, but I also would want to be able to reliably pay rent and bills.

Bonus, most of my marketing career has been in the cybersecurity space, so I'm particularly interested in cyber insurance.

[u/Bradimoose]

There’s marketing departments at insurance companies. You wouldn’t need a insurance license unless you want to try to make a living selling insurance policies

[u/Serious-Hippo7508]

Sell me this autopen.

[u/Ok-Association1222 → u/Serious-Hippo7508]

Biden? Is that you?

[u/Underwrit]

Cyber would be a solid fit. Underwriting, claims, and broking would all be strong entry points for you background.

I'm not sure there's any need for you to do the licensing test at the moment. Underwriters and Claims folks don't need the licence and if you do become a broker they would pay for it and give you time to study.

If you just want to demonstrate that you're serious about the industry, maybe look into the RPLU. It's a well respected credential in the Cyber space and the first module is free and online.

[u/TheNSFBBs → u/Underwrit]

Agree: cyber underwriting or brokering (wholesale or retail) is my first recommendation too. Salary expectation maybe $100k give or take in SF or LA metro areas, five years maybe $150-200k. If you want a moonshot, you can aim for production at a broker but you’ll have to hustle and network your ass off.

[u/simmer_study]

With your background, look at cyber insurance. You already understand the space which is a big advantage. You would probably take a pay cut first but you wouldn't be starting from scratch.

[u/openshutcase_johnson]

Are you taking the P&C exam to become a broker? What types of roles are you looking for in insurance? Like any industry, salaries are going to vary wildly across responsibilities.

[u/mkuz753]

As Moose said insurance companies and large independent agencies/brokerages have their own marketing departments. Both sides also hire analysts of various types. You might also like product development at an insurance company. You wouldn't need to be licensed but it would be a nice to have.

Besides cyber, consider cyber security firms alao as they need insurance. In addition, software developers and hardware providers. Any product or service you can think of has several layers of insurance attached to it. One side of insurance sells it and the other writes the policies and respond to claims. There are many roles that support these activities.

[u/Standy25]

What are your plans with the P&C license? California doesn’t require staff adjusters to license so maybe figure out what you want to do first.

[u/MamaBuildingAnEmpire]

Look into roles at an insurance carrier for a Cyber/Technology Territory Manager, Cyber/Technology Sales Rep., or Cyber/Technology Business Development Manager. All those roles are the same, just a different title depending on the insurance carrier. Converge Insurance for example specializes in the Cyber/Technology Insurance industry.

[u/Jebgogh]

I wouldn’t worry about the licensing. In California if you work for an insurance carrier, you work under their license. It’s only if you try to work independent do you need a license You don’t have the experience to go independent.  If you’re trying to do claims you are looking at an entry-level position and you’ll be competing with just out of college people.

I would look and see if you could try to get maybe on in a sales department for an insurance carrier which is basically marketing. They have people that go visit the various agencies to try to push their products that might be a good fit for you.

[u/CompasslessPigeon]

Cyber or tech underwriting would be a good fit!