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  #1  
Old 12-25-2017, 01:03 PM
fastcount fastcount is offline
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Default Career changes

Life vs P/C
Has anyone here made a switch from Life to P/C or vice versa? If so, how many years into your career did you make the move and why?

(1)Insurance vs (2)Consulting vs (3)Other (nontraditional, M&A with insurance companies, securitization, etc.)
Has anyone here made a switch between the three different areas? If so, how many years into your career did you make the move and why?

The reason why I'm asking is because I've been at an insurance company for nearly 8 years now and I'm done my exams, now that I reflect upon my career, I'm left wondering if this is what I want to keep doing for the next 30 years.

FastCount
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Old 12-25-2017, 01:12 PM
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Why don't you post these questions in the Careers part of the forum?
You can move it now. Use "thread tools."
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Old 12-25-2017, 06:40 PM
30pcssilver 30pcssilver is offline
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It's a good question OP and I'm guessing you're looking for someone to respond to you directly with personal experience and advice. I sincerely hope someone is able to do so because that's a good use of these forums. Unfortunately you might get someone just pointing you to sticky threads.

Here's my advice from someone in not too dissimilar a circumstance. See if your current job is the problem. Maybe there are other opportunities in your company that can make for a better scenario, or possibly a move to a new company can help.
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Old 12-26-2017, 11:32 AM
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I transitioned from a life internship to a P&C job, but admittedly that is a very easy transition to make.

It wasn't a transition that I was actively seeking. At the time, I was open to any job, whether in life, P&C, or something else.
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Old 12-26-2017, 11:49 AM
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Quote:
Originally Posted by fastcount View Post
The reason why I'm asking is because I've been at an insurance company for nearly 8 years now and I'm done my exams, now that I reflect upon my career, I'm left wondering if this is what I want to keep doing for the next 30 years.
Might be interesting to hear some of your thoughts on this. I switched pension to P/C, and much earlier, so not totally on point.

I would say that the number of circumstances where you're not happy in a Life career, and cannot (comparatively easily) switch to a Life position that is a better fit for you, but there's a P/C position that is a much better fit and you'll be much happier with, is a very small number. Basically, saying that the variability of positions across the spectrum of Life companies and departments is fairly broad, and the additional variability by including P/C as well isn't that much broader. If you somehow have a special love for the science of catastrophe modeling, then yes switch to P/C could make you a lot happier.
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Old 12-26-2017, 12:15 PM
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I switched pension to P/C, and much earlier, so not totally on point.
Really? I never knew you had that dark secret in your past.
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Old 12-26-2017, 12:17 PM
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lol hide it usually, but was so long ago now that I feel like there's less shame than if I had done that recently.
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Old 12-26-2017, 02:14 PM
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Well the first problem is convincing an FCAS to hire an FSA. It's quite a different skillset too... programs, procedures. Gonna be hard to command the same salary.

Do you really dislike Life? It may be your environment or specific work. What about reinsurance?
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Old 12-26-2017, 08:32 PM
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So everybody seems to have jumped on the switching from life to p/c debate. Which is fine, therefore let me try to add more color to my question.

On the life side, I can say that I don't use 100% of the material I have learnt in the SOA life track ... far from 100% actually. My job could be performed by someone with preliminary exams and having done a few select readings from the SOA life track syllabus.

For those on the CAS side, is that also true in p/c? Could an ASA or FSA switching to p/c be able to function in an intermediate (senior analyst?) loss reserving role, and while in their spare time, doing the loss reserving readings from the CAS syllabus? Or would the knowledge gap be simply too big?

fastcount
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Old 12-26-2017, 08:35 PM
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Quote:
Originally Posted by fastcount View Post
So everybody seems to have jumped on the switching from life to p/c debate. Which is fine, therefore let me try to add more color to my question.

On the life side, I can say that I don't use 100% of the material I have learnt in the SOA life track ... far from 100% actually. My job could be performed by someone with preliminary exams and having done a few select readings from the SOA life track syllabus.

For those on the CAS side, is that also true in p/c? Could an ASA or FSA switching to p/c be able to function in an intermediate (senior analyst?) loss reserving role, and while in their spare time, doing the loss reserving readings from the CAS syllabus? Or would the knowledge gap be simply too big?

fastcount
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