Business Expert, Insurance industry

Heath Ritenour thoughts on how the insurance has been revolutionized by Covid-19

When life hands you a crisis, it is often an opportunity to grow and evolve. This is what is occurring to the insurance companies due to Covid-19. Heath Ritenour, a veteran of the insurance industry, sees the lock-down as an opportunity to rejuvenate the insurance industry. Major changes in the industry have forced innovation to become a priority. Due to a variety of factors, insurance companies faced the stark fact that policyholders could fail to pay for their policy and running costs were going to increase. For example, the unemployment number increased causing some people to skip their monthly insurance payments.

What changes we can expect in the insurance industry

Intuitive technology is almost always at the beginning of innovation. Leaders in the insurance industry recognize this and are prioritizing innovation. Increasingly advancing AI is helping to improve the customer experience and helping to shorten and increase the accuracy of risk assessment of potential policyholders. Insurance agents were forced to work from home during Covid-19. Working from home can prove to be a challenge. Agents can become overwhelmed easily in a home environment and can feel isolated. There are positives to working from home. Costs are reduced for agents and the company as a whole. Customers can more readily reach their agents to resolve their issues. Insurance Office Of America, the company of Heath Ritenour, the chief of Insurance office of America, has already implemented changes. The company invested in the platform called SimplyIOA. This platform allows policyholders and potential policyholders to answer a few questions to connect with information found on the internet.

About Heath Ritenour

The insurance industry is in Health Ritenour’s blood. His parents were the founders of the insurance office of America, Valli and John Ritenour. He Became CEO of Insurance Office of America in 2018. He takes time to give back to the community through the IOA foundation. The foundation helps to raise money for sufferers of cancer by running 5k’s.

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