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When Denise Gaeta entered the insurance industry 17 years ago, she quickly noticed that, whether out in the field or in a corporate office, the business was dominated by men. Worse, even fewer women held senior executive positions. Fast forward to 2019 and Gaeta is part of a growing network of strong women forging new paths for the next generation of the Canadian insurance industry.
Gaeta joined iv3 Solutions as vice president of sales & operations in 2016 and was promoted to president the following October. She credits her experience, a touch of luck, and “a whole lot of hard work and straight-shooting” for getting her the top job.
“People would describe my personality as driven and goal-oriented,” Gaeta told Insurance Business. “I work hard, I put a lot of hours in, and I always try to think outside the box.”
To push herself, Gaeta enjoys throwing her and her team into challenging new situations, letting them flex their knowledge and expertise to develop creative solutions to complex problems. Her approach is borne of her own experiences in the industry, letting the team bond, but offers an opportunity to build trust and respect.
“I’ve been a broker. I’ve been on the company side. I’ve done recruitment and head-hunting, and I’ve worked in loss control,” she said. “Now when I speak to my customers, I can speak to them from a position of experience. I’m able to explain how they would utilize our services effectively and why it matters.”
“If I didn’t have this experience, I think it would be a lot more challenging to be an effective leader in this position,” she added.
Like other industry leaders, Gaeta has been encouraged and supported along her insurance journey by, “a few very influential leaders and a handful of mentors.” She described mentorship as “really important” because it helps in becoming more open-minded, allowing for new opportunities.
Gaeta will be discussing the importance of mentorship and how it can create more opportunities for female leaders and the emerging generation at Insurance Business Canada’s upcoming Women in Insurance Toronto Conference.
Alongside the power of mentorship, she’s also a strong believer in the power of continuous education. “Knowledge is power,” Gaeta said, which is why she is always encouraging her team at iv3 to expose themselves to a wide range of activities outside the office, including industry events, trade shows, webinars, and, most importantly, fieldwork. That way, each member of the team can gain first-hand experience, alongside those on the frontlines, of a given risk.
“I think organizations need to encourage continuous education, and they also need to allow people the freedom to fail,” Gaeta said. “I say that in a positive way. If people never try to do something, they’re never going to learn. Failure is an important part of success, so I would always encourage someone to try something they may be uncomfortable with because there’s a lot to learn from that – regardless of whether they succeed or fail.”
Recognizing employees for their successes, particularly when they take a risk and try something new, is extremely important to her. That is why iv3 has implemented a few different programs to celebrate its workforce.
“At monthly town hall meetings, we recognize a handful of employees and we present them with awards for excellence, passion, caring, and innovation,” she said. This has even extended to iv3’s field team with the Inspector of Excellence recognition program.
“Leaders in this industry need to remember that their teams are their most valuable and important resource,” Gaeta told Insurance Business. “Developing and growing your staff is what’s going to help everyone succeed.
“It’s a team effort, so you need everyone to be high-functioning, meshing together with clear goals and objectives. Investing energy into your people is the most important thing to remember as you move forward.”
Learn how to optimize a diverse and inclusive workplace to build a stronger insurance industry in the years to come by attending Women in Insurance Toronto at the Beanfield Centre on May 07, 2019. To sign up, click here.
