An Interview with Mary Gant

Mary Gant began her career in public accounting with Ernst & Whinney. She eventually migrated to the insurance industry. After a number of family relocations, Gant and her family settled in Tulsa in 2000. Old Republic Insured Automotive Services Inc. (ORIAS) was one of a handful of insurance organizations in the area at that time. Gant started there as the Controller and has been with the company ever since. Currently, she serves as a Senior Vice President and is the chief accounting  officer for the company.

The Old Republic Tulsa Operations consist of an administration company; ORIAS, and a branch office of their insurance underwriter, Old Republic Insurance Company. Since they offer both insurance and administration services, they are able to quickly respond to customer’s needs. ORIAS currently offers Vehicle Service Contracts (VSC), Guaranteed Asset Protection (GAP) and is also able to insure other ancillary products on the dealer’s menu for agents and third party administrator’s (TPA’s).

In mid-2013, ORIAS announced that through Old Republic Insurance Company, they are now able to provide insurance to unrelated TPA’s seeking an insurance partner for their warranty business. “In the past,” says Gant, “we have insured TPA’s with their GAP and ancillary products and have now expanded that business model to warranty.  The new business model alternative we are actively pursuing will allow us to position ourselves more favorably in the marketplace.” Old Republic Insurance Company is rated A+ (superior) by A.M. Best - one of the highest ratings in the industry. Gant says they are very proud to represent one of the nation’s 50 largest publicly held insurance organizations.  This fall, they will be celebrating 40 years in the industry. Gant is looking forward to the activities planned to celebrate their long-term tenure and success.

Gant’s advice to someone new to the industry would be to learn as much as possible by attending conferences, meetings and traveling with your sales department.  “Understanding the products offered is the best way to understand the needs of the customer.” Also, Gant advises to “challenge yourself constantly and surround yourself with visionaries.”

Family

Gant says she is fortunate to have a family that has always been very supportive of her career. Her husband also works in the insurance industry. Gant’s oldest daughter is an attorney in New York City and was recently married in June of 2014. Her youngest daughter recently graduated from the University of Oklahoma and works for an interior design firm in Oklahoma City.

“When you live in Eastern Oklahoma,” Gant says, “it is all about the lakes.” She and her husband enjoy boating regularly on a local lake and spend most summer weekends out on the water. They also enjoy spending time in Colorado – “jeeping in the mountains in the summer and snowmobiling in the winter.” When she is home, Gant enjoys spending time outside and regularly walks and runs.

What the Future Holds

Keeping products relevant and ensuring they are perceived as adding value are some of ORIAS’s driving goals for the future. “Speaking particularly of vehicle service contracts,” says Gant, “the OEM’s are changing the underlying warranties and cars, in general, are much more mechanically sound than they were just 15 years ago. Our products need to be flexible to meet these changing conditions. Our role is to provide a product that meets the customer’s needs.”

Additionally, Gant sees the regulatory requirements on the industry as an influence that will no doubt have its affects, but to what degree has yet to be determined.  “The CFPB is still a wild card that may affect the industry.” Gant says, they will continue to closely monitor those developments in the future.

Gant says she is excited about the future of her company and what they can bring to the industry. “I feel very blessed to be a part of this industry. We are fortunate to have strong relationships with many in our industry who are responsible for our continued success.”