Jayme Bates, JT Bates Co-founder and CEO

This year, as JT Bates Group begins its 15th year in business, we want to take a glance back at how we got our start and show you where we are today. We recently had a conversation with our CEO and one of the company’s founders, Jayme Bates, about the company’s beginnings. 

The Beginning

While JT Bates Group began in 2010, the pieces of the business started coming together several years earlier. 

Like the winding path of many entrepreneurs, Jayme didn’t begin her career with the intention of starting an insurance company, or of even working in the insurance industry. She started her career in accounting and originally planned to work her way into being a business analyst. 

Jayme’s goals led her to different positions that gave her experience in various facets of business. While exploring career options, she and her father, Jim Ricker, began working on an idea that they felt would fill a needed gap in the heavy equipment industry. Many dealerships provide self-funded damage waivers that offer limited protection. Their idea was to design and sell a more comprehensive damage waiver program.

They sold their first Rental Equipment Protection (REP) policy to a rental dealership, and so began JT Bates Group. Over time, they’ve expanded their product offerings to include several insurance solutions. In addition to REP, they offer liability insurance, document management, and insurance consulting. 

 

Growth and Expansion

Jayme’s initial goal for the business was that it would “pay the bills.” And from the beginning, it did that. They focused on meeting the needs of each dealership that they signed onto REP, sometimes before paying attention to their own growth. But they steadily added clients, and as a result, it grew. JT Bates Group was named one of central Ohio’s fastest-growing companies 4 years in a row. 

Jayme Bates of JT BatesHer growth strategy has been simple. Supply insurance solutions to the best of the company’s ability for their client, and the next client, and the next one after that. As a result, JT Bates Group has grown from a venture that paid the bills into a multi-million dollar company.

Hiring employees wasn’t the initial plan, but a good, sought-after product means that growth is inevitable. After only a year or two, they needed to hire administrative and sales help, and today, JT Bates employs more than 30 people.

Growth is always accompanied by challenges. But each challenge has prepared her for the next one that arises with an expanding company. She feels blessed that the company’s growth has been natural. While it’s been difficult at times, things have providentially fallen into place with each step as the company has grown.

The company moved its headquarters to Georgetown, TX in 2017. The following year, Jayme was named CEO of JT Bates Group. 

Jayme’s Approach to Business

What sets JT Bates Group apart from other companies? Jayme cites several different aspects. People and culture are especially important to her. The company’s mission to “glorify God and serve others” applies to everyone associated with the company. Jayme’s emphasis on building solid relationships with each dealer and cultivating close relationships with employees are crucial to JT Bates Group’s success. 

For Jayme, it’s all about people, whether she’s working with employees or clients. Since the beginning, she’s focused on building a company culture where employees are empowered because they know they’re being encouraged and cared for. Sometimes as a leader, it can be difficult to balance all the pieces. Part of doing what’s best for her employees is being a good steward of company resources and carrying the vision for its long-term success. It requires constant evaluation.

She also values developing genuine relationships with all of the dealer clients. It’s integral to JT Bates’ success. Relationships are the only way to learn customers’ needs and feel confident they are being met in the best way possible.

Jayme doesn’t take all the credit for the company’s growth. Jim’s knowledge of the insurance industry enabled him to detect coverage needs in the rental equipment business. The damage waiver solution that became the foundation of JT Bates Group is a result of his innovative mindset.

She also recognizes God’s guidance in the ongoing success of the company. Her Christian principles have unabashedly influenced every business decision. For Jayme, business isn’t solely about making money, it’s also a way to serve and meet the needs of others. “If we’re not doing this to glorify the Lord, then I don’t want to be a part of it. It’s not worth my time.”

The Future of JT Bates Group

JT Bates Group’s goal for 2025 and beyond is to continue its growth in the heavy equipment industry and to further its expansion into the agricultural equipment sector. It’s a challenging time for the equipment and insurance industries. Equipment dealers are trying to maintain the momentum they experienced after the 2020 shutdowns. On the insurance side, competition and risk have been steadily increasing.

Jayme is confident that JT Bates Group will continue to be the source of great products for rental dealerships for many years to come. “People know that they can count on us to provide solutions for them. I want to be a part of that.”

To learn more about JT Bates Group and our products, check out our website here.