2024 Underwriters of the Year | Liza Van de Water, Senior Commercial Underwriter, Economical Insurance
Liza Van de Water’s P&C journey began nearly two decades ago when she made the pivotal decision to switch careers from banking to insurance.
Over the years, Van de Water’s determination and commitment saw her working her way up from Junior Underwriter at RSA in 2006, to Senior Fleet Underwriter at Aviva in 2014. In 2018, she joined Economical Insurance to ultimately land her current role as Senior Commercial Fleet Trading Underwriter.
When she’s not working, the married mother of two children and two small dogs enjoys crocheting and spending quality time with her family.
“Being recognized by one of my broker partners is such an amazing honour! I’m so flattered that they would think of me for this, and I’m humbled to have been chosen,” Van de Water says of her award recognition by A-KAN Insurance, a broker member of the Canadian Broker Network, Canada’s largest network of independent brokers.
Q: What makes a great underwriter-broker working relationship?
“Speed and efficiency in responding to questions and concerns are crucial. This, in turn, helps brokers ensure they’re providing the highest quality service to their clients. It’s also essential to offer knowledge and find effective and sometimes creative solutions that benefit both parties. Having an open line of communication builds trust and understanding.”
Q: Why did you become an underwriter, and what do you love most about your role? “I decided to switch from banking to insurance nearly 20 years ago and never looked back. Working as an underwriter has provided me with career opportunities and stability for my family over the years. What I love most about my role is the ability to adapt and learn in an ever-changing industry.”
Q: What’s the biggest challenge for underwriters in P&C currently, and one thing they can do to overcome it?
“As a fleet underwriter, I’ve learned that the insurance industry is constantly changing. We need to be willing to adapt to, and embrace, change and continually develop our skills and knowledge in order to succeed.”
Q: What’s one opportunity you think underwriters should focus more on in today’s marketplace?
“Taking the time to build relationships with brokers can make a significant difference. Without our broker partners and the mutual trust and respect built between us, there’s little chance for future success.”
Q: Given the current talent shortage, what would you say to encourage people to join the industry?
“The insurance industry offers stability, work-life balance, and great, diverse opportunities for advancement.”
Q: How do you see technology, including AI, impacting the role of underwriters in the coming years?
“The insurance value chain is full of opportunities to apply generative AI’s automation, communication, and personalization capabilities to improve productivity and efficiency, and personalize customer experiences. It’s an important tool that will help assist us in doing our jobs even better. We’re exploring a number of application areas, and I’m excited to see the benefits.”
The Canadian Broker Network Underwriter of the Year awards is a flagship program that CBN has been running on behalf of its members since 2017. The program is exclusive to CBN in partnership with Canadian Underwriter magazine. The categories allow for each of our member firms, at their option, to select one commercial lines underwriter winner as well as one personal lines underwriter winner from a primary market. The program evolved in 2021 to also allow for one commercial lines underwriter from an MGA in addition to the other two categories. The criteria includes underwriting excellence and risk knowledge; prompt and effective responsiveness back to CBN members; writing business that satisfies clients’ needs while creating a win-win for the broker and the insurer; a positive, helpful attitude; and investing time to develop trusting relationships with brokers.
Full list of 2024 Underwriters of the Year Award
