In the insurance industry, some individuals have proved to be very important in changing the dynamics of the entire sector and bringing some new innovations. These individuals are not interested in offering similar products that other insurance companies have been offering in the same industry. Instead, they have been highly focused on ensuring that they are delivering something different than other insurance companies are yet to offer into the market.
John Ritenour is the co-founder of the Insurance Office of America. This is one of the leading insurance organizations that have been in the industry for very many years. The company was founded in 1988, which means that it has been in operations for more than thirty years. Not very many insurance companies have been in the market for such an extended period, which clearly means that the company has been doing everything possible to lead in this market.
However, John Ritenour did not start this insurance company to offer similar products that other insurance companies were offering. It was his view that some major products and services were missing in the insurance industry. He also realized that all the employees working in the same business were facing some major challenges because their employers were not mostly focused on addressing the specific needs of such workers.
Over the years, John Ritenour has identified other major problems and gaps that have been existing in this industry. One of the gaps that he has already discovered is in the sports insurance sector. The insurance companies have not been working in this area as they have never been interested in business-to-business insurance services. However, the company is already working in this area and has been hoping to find consistent success in its industrial operations while offering services in some of the areas ignored for many years.
The insurance industry poses as a perfect niche for a lucrative career. John Ritenour delved into this specialty over 30 years ago to build a successful career. He leveraged his professional intuition to initiate the Insurance Office of America, a private equity firm that grew to carve an outstanding reputation. IOA swiftly augmented its global reach to encompass over 1300 team members and expand to nearly 60 locations. Heath Ritenour inherited his dad’s family business when he decided that he needed to retire. John Ritenour trusted his son to take on his footsteps and keep the insurance business alive. Although Heath loved the company, he was reluctant to take the reins as he felt totally inadequate.
Heath Ritenour thought of taking over the family business and saw him sketch up exciting and new ideas for bringing IOA into the present day. In addition to becoming responsible for over 500 families, he figured out how to keep the business legacy going. John Ritenour vetted his succession plan with in-depth knowledge to assure the company’s smooth transition to a new generation. Heath first ventured into IOA as an intern. During this time, he amassed valuable experience that was fundamental to his next position. His aspiration gradually grew as his vision for running the company from a different angle was documented.
Beyond his Chief Executive Officer role, he worked hard to build the business up and curate its reputation globally. Heath Ritenour played an integral role in initiating a generational transition within the company. He valued the input that his father had plunged within the insurance company. Additionally, the new chief executive officer streamlined the company processes by offering good deals. With far-reaching potentials, the Insurance Office of America tremendously grew under a father-son partnership. The businessman has managed the company correctly and understands customers’ perspectives and concerns.