In 1988, John Ritenour founded the Insurance of America, intending to cover anticipated risks in different professional fields. IOA has since been a leader, employing customer-centric strategies to cover risks in a myriad of industries. The company has partnered with several sports teams, including Orlando Magic (NBA), Washington Wizards (NBA), Charlotte Hornets (NBA), U.S. Club soccer, Las Vegas Raiders (NFL), and the Jackson Jaguars (NFL). John Ritenour learned that every sport has differing downplays and potential pitfalls. It takes a professional to analyze the risks and carry out risk-management beforehand.
The company’s current CEO, Heath Ritenour, states that insurance allows you to think of the worst scenario possible and develop ways to mitigate the foreseeable risks. ‘To take care of the pitfalls, you have to look for the blindspots, and many are not in hindsight. ‘, he adds. The sports teams then make the final decision after proper evaluation.
John Ritenour’s business skills were worth paying a dime for. He once stated that a good salesperson knows that in striking a deal, one does not make it evident that he is selling, instead try making it look like you are offering assistance. He used this strategy to sell the policies. Some clients will prefer doing self-insuring while others will look for people to do it for them. The IOA has faced some challenges, some connected with the Covid-19 pandemic, while others are core to the daily uncertainties like terrorist threats. There is no doubt that these covers are expensive, and not many teams can afford them.
Heath Ritenour notes that the sports world’s estimated value stands at $471B, with the U.S. contributing to a third of this figure. It is without a doubt that IOA still has potential clients in place. The Sports division is expanding to cover activities such as swimming, triathlons, etc. The company provides the right policy that saves you money and cost in cases of damages.
John Ritenour passed away on 14th February 2021, leaving a highly acclaimed and credible insurance firm serving the American people.