Commercial Insurance and Technology Veteran Dennis Chookaszian Joins ProspX as Chairman of the Board
Former CNA and AMS Chairman to Add to the Deep Industry Expertise of ProspX Team
AUSTIN, Texas – March 12, 2009 – ProspX, Inc., the leader in collaboration and automation solutions for the commercial insurance industry, announced today that Dennis Chookaszian, former chairman of the board and CEO of Chicago-based CNA, has joined ProspX as Chairman of the Board. Mr. Chookaszian cites ProspX’s innovative approach to improving collaboration and the flow of business for all parties in commercial insurance as a primary driver in his decision to join the board of directors.
“ProspX has developed an extremely affordable, easy-to-use technology focused specifically on the commercial insurance industry that can significantly improve operations,” noted Dennis Chookaszian. “The ProspX platform combines the right mix of business networking, sales collaboration, and search engine functionality making it easier for agents, brokers, and carriers to succeed in this complex and competitive market.”
During his 27-year career with CNA, Mr. Chookaszian held several senior management level positions before becoming Chairman and Chief Executive Officer in 1992. He also served as Chairman of Agency Management Services, Inc. (AMS), a subsidiary of CNA. Before joining CNA, Chookaszian was with Touche Ross & Co. (now Deloitte & Touche) Management Consulting Services, where he was responsible for management, financial, and systems consulting practices.
Mr. Chookaszian holds advisory positions with several prominent companies and industry groups. He is currently Chairman of Financial Accounting Advisory Council (FASAC) which provides guidance to the Financial Accounting Standards Board (FASB) on accounting matters. He has also been appointed to the Financial Crisis Advisory Group (FCAG), comprised of senior worldwide leaders with broad international experience in financial markets, to develop recommendations to address the financial reporting issues involved in the global economic crisis.
“I am honored to announce the addition of Dennis Chookaszian as Chairman of the ProspX Board,” said Todd Young, president and CEO of ProspX. “Mr. Chookaszian brings deep industry knowledge and expertise and will be an invaluable resource to the ProspX team and our broker and carrier customer base.”
As a $500 billion per year market, the commercial insurance industry provides services for hundreds of thousands of customers worldwide. To improve the flow of business for these customers, ProspX has developed an on-demand, collaborative enterprise search application designed to automatically connect commercial insurance agents, brokers, and carriers at the initial point of opportunity.
About ProspX, Inc.
Built for the commercial insurance industry by insurance professionals, ProspX, Inc., headquartered in Austin, Texas, develops on-demand sales collaboration platform that improves productivity and streamlines communications between agencies, brokers, and carriers. Combining the best of enterprise search, social networking and sales collaboration technology, ProspX gives brokers quick and easy access to the critical internal resources available for new and renewal business, while allowing carriers the ability to elevate their message for increased visibility at the initial point of opportunity. For more information please visitwww.prospx.com and follow ProspX on www.twitter.com/prospx.
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ProspX is a trademark of ProspX, Inc. All other company and product names mentioned are used only for identification and may be trademarks or registered trademarks of their respective companies.
Media Contact:
Heidi Johnson
For ProspX
heidi.johnson@virtualprdirector.com
(512) 493-0909
