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Heath Ritenour’s Opinion on the Future of the Insurance Industry amidst COVID-19 Pandemic

Heath Ritenour is a successful entrepreneur in the insurance industry. He is the Chief Executive Officer and Chairman of Insurance Office of America, an insurance company founded by his parents when he was still in elementary school. Although Heath Ritenour resisted joining the family business for some time, he later joined and embraced it in 1996. The company has grown and was ranked as the 11th biggest private insurance company in the United States. Heath Ritenour is passionate about giving back to society, and he is the President of the Insurance Office of America Foundation. As a cancer survivor, he finds pleasure in helping people undergoing cancer treatment.

The COVID-19 pandemic affected the way many businesses operate, not exempting the insurance industry. As the United States adapts to the new normal, Health Ritenour argues that there will be some changes that consumers should expect. He also notes that the industry has to adjust to be in a better position to operate amidst the pandemic. As most consumers search for insurance companies, Heath Ritenour suggests that most companies will reevaluate their operations to offer quality customer service. He adds that the pandemic has resulted in consumers who prefer quality services regardless of the price.

Heath Ritenour believes that most insurance agents will adopt a remote working strategy. Therefore, consumers should expect more virtual meetings and communication through email and texts. Further, he proposes that the insurance industry embrace digital technology, such as establishing online applications that will allow users to file complaints and review the status of existing claims. Heath Ritenour also sees the insurance companies reviewing their products portfolio and customizing their existing products to suit the needs of their consumers. He argues that the insurance industry will come up with more innovative products and adopt new technology.

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