IOA (Insurance of America) is currently a household name. The firm has been under the leadership of John Ritenour for over three decades. In this context, we’ll look into John’s strategies to ensure the insurance firm has a leading edge in such a competitive sector.
About John Ritenour’s Humble Beginnings
John Ritenour is from McKeesport, Pennsylvania. The small town is widely known for the manufacture of steel. John grew up in a poor neighborhood, and he understands what it means to be among the less fortunate in the community.
For John, he was ambitious despite the living circumstances he was subjected to while growing up. Fortunately, Ritenour was focused, and he managed to accomplish all his set goals.
Together with his wife, they joined hands and came up with Insurance of America. Before venturing into the insurance sector, Ritenour was offered a job at a local steel mill. He has also worked at a bakery owned by his brother before expressing an interest in insurance.
John Ritenour has worked as a salesperson in the insurance sector, and he was able to identify different issues with the business structure that was in use. For starters, the earnings of the agents were limited because of commission caps. Ritenour had a different attitude, and he wanted things to change for the better. When he came up with Insurance of America, John ensured salespeople would have an earning potential without limits.
Ritenour would then ensure that the salespeople at IOA would have maximum earnings, which means they would work harder. The employees are also shareholders in the insurance firm, which means they’re more motivated to see the firm grow further. Such strategies have brought about the success of the Insurance of America (IOA). As we can see, a company’s success is mainly dependent on the workforce and the strategies being implemented by those in leadership positions.