Major US insurer on hunt for a new CEO

Major US insurer on hunt for a new CEO | Insurance Business

Major US insurer on hunt for a new CEO

Forty-five years after starting her career at CSAA, president and CEO Paula Downey will retire following a search for her successor, according to a press release.

Under Downey’s leadership, the insurer executed a six-year infrastructure transformation with the goal of improving customer experience and introducing a customer-centric, agile strategy – all while growing CSAA’s revenue by $1.5 billion to $4 billion in 2018 and improving efficiency.

“The insurance industry is extremely dynamic, and slowing down is not an option,” noted Downey in the release. “A smooth handoff of leadership is critical, and I will be fully engaged in executing our strategy and serving AAA members until our board names my successor.”

During her career, Downey was also named Humanitarian CEO of the Year by the American Red Cross Bay Area Chapter and an Elite Women in Insurance by Insurance Business magazine, besides being recognized as one of the Bay Area’s Most Influential Women in Business by the San Francisco Business Times and one of the region’s Most Admired CEOs.

CSAA, meanwhile, has another C-suite office to fill after already naming a new VP of corporate innovation, a new VP of service, and a new EVP of insurance operations in recent months.