Category: Insurance industry

John Ritenour’s IOA Partnership With Sports

John Ritenour started the Insurance Office of America (IOA) in 1988. His son Heath Ritenour became the CEO in 2008 and the Chairperson of the company in 2009. Even so, the founder continues to offer support to the company. For over ten years, the company has been partnering with the sports industry. The commitment and hard work of John Ritenour and his son have made IOA be among the top players in the insurance industry.

Insurance Cover For Key Sports Teams

Offering insurance policies for sports teams is complex. According to Heath, each sport has its risks and complications, but football is among the higher-risk sports. He further adds that insurance professionals must understand the team to know its risks and mitigate them. Create an awareness of the potential risks they face and leave it up to the client to decide on whether they need the cover or not. It is about being risk managers and not salespeople.

Different risks face sports teams in the field. The teams have to choose which risks to cover. The role of IOA is to cover the teams should the risk materialize.

IOA partners with various NBA teams, racing teams, US Club soccer, and Washington Capitals. The company is also looking to partner with other big four sporting teams.

How IOA Sports Partners Division Started

The sports division started as a collaboration between John Ritenour and Heath Ritenour, with the first partnership being between IOA and Orlando Magic. IOA started by sponsoring Orlando magic and later became their insurance broker.

After securing Orlando Magic, it was easier for other teams to come for IOA to sponsor their activities, explains Heath. Today, the company boasts of insuring some NBA, NFL, NHF teams, and several racing teams. In addition, engaging in community service has made it easy for IOA to expand to other cities.

About IOA

The company started in Florida. Today, the company has over 60 offices spread across the USA and London, with over 1200 teams worldwide. It’s the 25th biggest insurance agency in America.

Early Life and Career Journey of John Ritenour

John Ritenour, the husband of Valli and father of Heath Ritenour, IOA’S current Chairman and CEO grew up in the outskirts of Pittsburgh: McKeesport, Pennsylvania. John Ritenour is a visionary individual, and as old as five years old, he was confident that he would own valuable things like the beautiful buildings he used to see while walking with his mother. It is in high school where he met his life partner Valli who turned out to be a business partner as well. Following his graduation, John secured an opportunity at a local steel mill company, a job he gave his best to the point of being recognized by the management.

From the steel mill company, John Ritenour moved to his brother’s bakery before transitioning into the insurance industry, where he started as a salesman. His aggressiveness and hard work made him become the top producer of the company in just six months. After working for a few years, he partnered with his wife, establishing an insurance agency that they sold ten years later before relocating to Central Florida. Together with Valli, in 1988, they created the Insurance Office of Florida, which later grew to the Insurance Office of America.

As a business-minded person, John Ritenour maximizes his innovative and creative capability to offer solutions to existing problems. Through hard work and customer-oriented focus, John has led IOA through its critical transitioning phases to becoming the US’s eleventh-largest insurance agency that has over 1300 associates spread across its sixty-plus subsidiaries. By working close to his son, Heath, John prepared him well for the task of taking the family business legacy to the next level. He handed over the leadership of IOA to Heath in 2008. Though retired, he works closely with his son, and in 2020, they launched the GLIO program. As a philanthropist, John Ritenour established IOA Foundation that focuses on causes rooted in health and wellness, education, children, animals, financial empowerment, social services, entrepreneurship, and literacy to give back to the community.

Learn more about John: https://inspirery.com/john-ritenour/