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President and Founder
Specialty Risk Management Inc.
Lago Vista, Texas
Where there is risk, there are people like Pamela Ritz, whose lengthy career has led her to develop and head her own company, Specialty Risk Management Inc., which provides risk management solutions to small, midsize and large organizations, including such global entities as Lloyd’s of London. She is responsible for introducing her company’s national 1-800 hotline service, which has been expanded to include crisis management for food-borne illness and product recall claims on behalf of underwriters and her private client base. The service has logged in excess of 200,000 inbound calls and is backed by an internally developed database system that allows her company’s risk managers to be interchangeable when fielding a client problem, enabling any risk manager to interact with any client.
What would you change: "Insurance is a business solution. I wish more time and effort was spent on creating the right insurance solution and educating the insured on the value of the insurance product and whether it will deliver the desired solution, rather than just boiling it down to competitive pricing and landing the competitive deal. In insurance, you often get what you pay for."
Best professional advice: "Don’t lose your sense of humor. Great ideas require intense belief and sometimes require years of selling over and over again to be adopted. If your idea is not accepted immediately, watch your timing, persevere and try again. You have to pay your dues and make the investment and constantly replenish your intensity."
Early aspirations: "I entered an engineering college in a year that the first official class of women was admitted. My goal was to work in heavy industry. The insurance industry found me after an industry career, but it has made use of all of my previous career experience and more. Like everyone in my organization, we never intended to enter the insurance field, but we are here, creating new ideas."