2024 Underwriters of the Year | Will Peterson, Casualty Underwriting Specialist, Aviva Canada – Global Corporate & Specialty

Will Peterson’s underwriting expertise is complemented by a thorough understanding of risk management from both the customer and insurer side.

He gleaned this experience through the diverse roles he has held throughout his career — both within and outside the industry. Peterson began his career in 2011 as an Underwriting Assistant and then Underwriter with Zurich Canada’s Alternative Risk Transfer and Energy Teams. He then worked in risk management at RCM Technologies and Troy Life & Fire Safety, before returning to underwriting about 18 months ago, joining Aviva Canada – Global Corporate & Specialty (GCS) in his current role.

Peterson holds a B.Sc. Honours in Physics from the University of Guelph and a CRM designation.

Outside of work, Peterson enjoys time with his wife, two young daughters, dog, and cat. He enjoys music and sports, coaching U5 soccer in his spare time.

Peterson is appreciative of the recognition by Lawrie Insurance Group, a broker member of the Canadian Broker Network (CBN). “Working with their team feels like a true partnership,” he says. “The recognition through the CBN is meaningful as well. As someone who chose to work for Aviva Canada, where we maintain decision-making within Canada, this was a personally important aspect.”

Q: What makes a great underwriter-broker working relationship?

“Just because we each have defined roles doesn’t mean we have to approach each other in a defined way. I approach any working relationship attempting to understand the individual’s position. This is essential for trust to develop in order for us to work together and quickly respond to opportunities or challenges that arise.”

Q: Why did you become an underwriter, and what do you love most about your role?

“I was fortunate to start in the multinational alternative risk space, where I was exposed to the scope of our industry. Though I left underwriting for a time to explore the customer side of risk management, I ultimately returned to corporate underwriting, specifically with Aviva GCS, due to the variety and creativity of customers and colleagues we get to work with on a day-to-day basis.”

Q: What’s the biggest challenge for underwriters in P&C currently, and one thing they can do to overcome it?

“As someone who’s mid-career, who came up in a pre-pandemic workplace, a new challenge I see will be supporting young talent who are building their careers in a different environment. We’ll likely be doing this in a way that’s vastly different than the way my cohort and preceding colleagues had developed their careers. How we overcome this isn’t a one-size-fits-all. With all relationships, it’s important to develop a foundation of trust and open lines of communication. I challenge myself to work on those at both ends of the career arc to maintain a stable transition of knowledge and skills. For now, I make myself available to support my colleagues the best I can.”

Q: What’s one opportunity you think underwriters should focus more on in today’s marketplace?

“Product development. As technologies rapidly progress — changing businesses’ operational profiles, and, therefore, their insurance needs — we’ll see a growing need for unique products and creative program structure.”

Q: Given the current talent shortage, what would you say to encourage people to join the industry?

“Insurance is an industry for those with a natural curiosity requiring a range of interests and skill sets. Whether you lean toward being a generalist or want to go all the way to becoming a heavy specialist, there’s a role for you to carve out for yourself.”

Q: How do you see technology, including AI, impacting the role of underwriters in the coming years?

“Technology will continue to help us analyze risk. Every development has pros and cons. If we continue to understand [technology] as a tool and not a replacement, I believe we’ll be able to gain the insights and abilities to provide further tailored solutions.”

 

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