(Newswire.net — July 19, 2021) —
Every business owner or entrepreneur likely has thought about the type of impact they will leave on the world post-retirement—their professional legacy. Regardless of what kind of business they are in, the goal is often the same: Make the community better than they found it. For John Ritenour, co-founder of Insurance Office of America, even as he pursues philanthropic endeavors in his retirement, he can look back at a lifetime of achievements and know that he made a positive impact.
Getting to Know John Ritenour
John Ritenour is well known as the co-founder of an international, full-service insurance brokerage, Insurance Office of America (IOA). Over three decades, he and his wife, Valli, built IOA into the 11th largest privately held P&C brokerage in existence today. IOA boasts over 80,000 clients, 1,300 team members, and over 60 office locations. It has ranked high on Business Insurance’s Top 100 Brokers of the U.S. Business list and Insurance Journal’s Top 100 Property/Casualty Agencies list for several years.
Honors and Achievements
Along with curating a successful multigenerational business, entrepreneur John Ritenour himself also has garnered an array of personal awards and accolades. These include, for example, the Eloise Trainor Award (Symetra Tour), Entrepreneur of the Year (Dynetch/Crummer), and the Success Award for Business Achievement (Success Magazine).
Driven from a Young Age
Ritenour grew up in the outskirts of Pittsburgh, Pennsylvania, in the steel mill town of McKeesport. He recalls being a child and telling his mother that he was going to own some of the large buildings (and bridges) he saw in that area. He clearly had big dreams even from a young age, especially for someone who was growing up in a predominantly working-class area. Getting out of the projects was a big goal for Ritenour, and he was able to do that with a lot of hard work and dedication.
Ritenour’s Personal Life
While he has been extremely successful at work, John Ritenour also puts just as much time and effort into cultivating his personal relationships. He firmly believes that his family should get nothing less than his personal best, just like his work-related efforts. Having a solid connection to the community is important to John Ritenour, and now that he is in retirement, he hopes to encourage others to create and foster deeper connections to their communities.
The Value of Relationships: Using Partnerships to Thrive
John Ritenour believes in the power of strong partnerships and relationships. His entire business model was built with the focus of cultivating relationships. When clients work with IOA and its teams, they should be treated so well that they never want to leave.
Ultimately, that focus on relationships is what has made John Ritenour successful over the past three decades. For example, IOA has set itself apart as the choice insurance brokerage for several sports teams, with their entire division focusing exclusively on athletic clients, IOA Sports Partners. This relationship helps them to create specialized knowledge in a niche area, allowing IOA to serve clients better. They are the official insurance broker for Orlando City Soccer, which led IOA to become an official partner with Major League Soccer and a partner with the Orlando City Foundation (a philanthropic group that provides various services to children).
IOA also has insured various sports teams over the years, including the Atlanta Hawks, Las Vegas Raiders, Orlando Magic, Washington Wizards, and Jacksonville Jaguars, just to name a few. It also has sponsored several Ladies Professional Golf Association events: the Diamond Resorts Tournament of Champions and two legs of the Symetra Tour, the feeder tour for the LPGA.
The Right Focus: Putting Family First
Beyond work relationships, John Ritenour also puts a lot of value in his personal relationship to create a rich family life. Ritenour has always put family first in everything he does. He has been able to create an amazingly successful company while also balancing a full home life. He credits his unshakable partnership with his wife, Valli, for his ability to be so successful both at home and at work. As a team, they were able to develop a thriving company and be there to raise their son, Heath.
When John Ritenour first started out in the insurance business, he was working as a door-to-door salesman. He often put in 16-hour days, far outpacing his fellow salesmen. However, when his son was born, that changed.
His priorities made a dramatic shift when Heath was born. Ultimately, he wanted to create an environment where he could both spend time with his family and serve his customers and add value to their lives.
With the structure he created with Valli, John Ritenour was able to coach Heath in baseball, basketball, and football. This time together also allowed John to teach his son about the value of hard work, both on and off the field.
“I loved coaching. I wouldn’t miss a practice, and I wouldn’t miss a game. I wouldn’t miss any part of Heath’s life,” reported John.
Today, both IOA’s clients and their team can see this focus on putting family first. Based on the commission structure of IOA, producers have flexibility and virtually unlimited earning potential.
With Ritenour’s retirement in 2018, he has had even more time to devote to charitable efforts. He also puts spending time with his grandchildren high on the top of his priority list. Being the best grandpa he can be is another important part of Ritenour’s legacy.
Creating Value Within the Community
“The best things I’ve ever done in my life were about giving back to people.”
John Ritenour has a unique understanding of the lives of those who are less fortunate. As a result, IOA and Ritenour individually make it a priority to give back to the community. He says: “I’ve been so blessed both financially and with the people surrounding me, and I haven’t forgotten where I came from.”
John has also instilled that mentality in his son, Heath, as well. That community focus will continue on through Heath’s work with IOA.
John Ritenour stepped down as the Chairman of IOA in 2018. The same year, Heath was named one of Orlando Business Journal’s CEOs of the Year. The list includes CEOs who have made Central Florida a better place to live, created engaged workplaces, and have fiscal success. Heath worked for IOA as an intern in the 1990s, worked his way up, and was named the CEO in 2008.
In 1995, IOA began sponsoring what has now become the largest 5K event in Florida. Although the event started as an informal office party, it is now open to the community. IOA continued to support the IOA Corporate 5k, recently renamed the SimplyIOA Corporate 5k. It is also not just a 5k. It raises money for local charities to provide meals and other resources for those in the community. Charity beneficiaries have included the Track Shack Youth Foundation, Christian Service Center, and the Second Harvest Food Bank of Central Florida.
The IOA Foundation works alongside other charities to focus on giving back to organizations that help children, provide financial empowerment and literacy, mentoring, animals, education, health and wellness, and social services.
A Strong, Positive Legacy
John Ritenour has a lot to be proud of, from creating a successful business from the ground up to dedicating time to his wife and son and creating real, positive change in the communities that he touches. He has retired comfortably knowing that what he has created will live on providing real value and services to others for years to come—the ultimate goal for any entrepreneur.