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I think a lot more people are in that position than they realize.
Sixteen years in insurance doesn't mean someone only knows insurance. They've probably developed skills in negotiation, investigation, customer service, project management, conflict resolution, analysis, documentation, training, leadership, and problem-solving.
Sometimes the challenge isn't that someone can't do anything else it's that they've spent so long in one industry that it's hard to see how transferable their skills really are.
That said, if a job is truly sucking the soul out of someone, it might be worth exploring adjacent roles first rather than making a complete career change. Sometimes a different company, department, or specialty can make a bigger difference than leaving the industry entirely.
I have had a hard time as well, once you've been in it so long, people think you can't do anything else. I've had numerous interviews and its like being stuck in a goldfish bowl. No way out