American International Group Inc. has lost another leading executive, this time to a social business platform to help brokers and carriers manage commercial insurance.
Steve Gold, formerly the head of commercial sales and marketing for AIG, has been hired as president and CEO of Austin, Texas-based ProspX.
ProspX co-founder and former president and CEO Todd L. Young will move to become the company's executive vice president for sales, marketing and business development.
“ProspX is one of the most exciting and disruptive technology companies in our industry, and I am honored to be joining such an innovative team,” says Gold, in a statement. “As a customer, I experienced firsthand the positive impact that ProspX has on sales, marketing, and commercial insurance distribution overall. As CEO, I now look forward to helping spread the adoption of its solution across the industry.”
Gold at AIG was responsible for growth strategies and business planning with retail brokers in the U.S. and Canada.
Gold was at AIG in April 2008 when the insurer reorganized executives and formed AIG Commercial Insurance Group, which was part of the then-new AIG Property Casualty Group. About two months later AIG's CEO would resign and the corporation faced collapse when its credit rating was downgraded.
Founded in 2005, ProspX says its network now includes more than 11,000 commercial insurance professionals from the top 260 brokers, agencies and commercial carriers worldwide.
The company says it just secured additional financing in April, which will allow it to fund sales and marketing strategies.
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