Heath Ritenour on Changes to Be Adapted By Insurance Industry after the Covid-19 Pandemic

The wake of the COVID-19 global pandemic crippled most business operations. As a result, different businesses were forced to shut down or find innovative ways of continuing operations, such as working from home. One of the sectors that felt this impact is the insurance sector. Most state governments put in place the cessation of unnecessary movement to contain the virus’s rapid spread. As a result, fewer auto insurance claims have been made since the advent of the COVID-19 pandemic. Also, most policyholders have again had a hard time paying for their premium policies due to loss of jobs or cut of pay.

Despite the challenges being witnessed in the insurance industry, Heath Ritenour has urged people to focus on the positive side of the pandemic. Heath Ritenour has grown in the insurance industry, with both his parents being founders of the Insurance Office of America. Currently, the company is ranked 11th largest in the United States among other insurance brokerages that are privately held. In 2008, he joined his parents’ company as the CEO. However, his father’s retirement from the company increased his rank to the chairman and CEO of the company. Heath also serves as the president of the IOA Foundation, which facilitates the company’s philanthropic nature.

It is no doubt that the insurance industry has been adamant about technological changes for a long time. However, Heath Ritenour feels like adapting to changes, especially after the pandemic’s unprecedented challenges, is imminent. As a result, he cites some of the few changes to be incorporated.

Heath Ritenour mentions that more insurance agents have been grounded to working from home due to the pandemic. Therefore, as a policyholder, you need to be acquainted with the fact that getting hold of such agents now requires appointments. Walk-ins to their offices cannot work anymore. Heath Ritenour also appreciates the fact that there has been a need to adapt to new insurance technology, such as the use of drones and satellites when viewing insurance claims.

Learn more about Heath: https://heathritenour.com/