Travelers: Everything you need to know
Countries of operation: 28
Headquarters: New York, USA
Having been in operation for over 160 years, Travelers has firmly established itself as an insurance leader which is continuing to innovate to keep up with the changing requirements of the insurance sector. Initially founded in 1853, Travelers took its name from its policies insuring railroad and steamboat passengers.
Travelers has accomplished numerous industry firsts including boasting the first automobile policy and the first commercial airline policy. In 1969, Travelers made history again by providing the first insurance policy for a manned mission to the moon. Since then Travelers has continued to develop, founding The Travelers Institute for public policy in 2019 and operating throughout the US, UK, Canada and the Republic of Ireland.
The products and services of Travelers
Travelers aims to give its customers peace of mind, and tailors the products and services it offers to ensure that the cover received matches the individual requirements of each customer. This is enabled by the company’s team of industry experts, risk management experts and claim specialists.
The key products offered by Travelers are:
- Combined insurance
- Corporate insurance
- Cyber insurance
- Kidnap and ransom insurance
- Legal expenses insurance
- Liability insurance
- Management liability insurance
- Office insurance
- Personal accident insurance
- Professional indemnity insurance
- Property insurance
Recent news from Travelers
Travelers gets green light for European business transfer – The Travelers Companies, Inc. is ready to move its European business from UK-based Travelers Insurance Company Limited to new subsidiary Travelers Insurance Designated Activity Company (DAC) in Ireland. Approval has been granted for the transfer by the High Court of England and Wales.
Travelers identifies cyber risks as top concern among businesses of all sizes – The 2019 Travelers Risk Index identified cyber risks as a top concern for businesses of all sizes for the first time since the Risk Index series started in 2014.
Travelers Europe rolls out new offering for UK and Ireland – Travelers Europe launched a standlone cyber insurance product called Travelers CyberRisk for firms of all sizes in the UK and Ireland.
Travelers completes £375 million UK acquisition – Travelers Companies completed the acquisition of of UK-based distributor Simply Business from Aquiline Capital Partners LLC.
CSR at Travelers
In Travelers’ latest Gender Pay Gap Report, it was stated that “our greatest asset is our people. We talent advantage.”
Diversity and inclusion were named as business imperatives for the organisation and as key areas of emphasis when it comes to recruitment. Diversity of experience and viewpoint yields greater insights and better outcomes, Travelers stated, raising the bar on both individual and team performance. Travelers aims to utilise its expertise, network and experience to the benefit of all staff and to insure the ambitions of all its employees.
Gender diversity at Travelers:
Travelers operates a Women’s Diversity Network which is open to anybody within the organisation who is looking to take positive action regarding gender diversity. Members of this network work together to host events, provide sponsoring and networking opportunities and to create leadership development opportunities.
In the recent Gender Diversity Report from Travelers it was revealed that, since 2012, the percentage of women in senior-level positions within Travelers UK has increased by over 60%. Travelers has also created an 18-month training programme for the development of female leaders and served as programme sponsor of the 2018 Business Insurance Women to Watch EMEA Awards.
Other CSR groups at Travelers:
Travelers is always looking for new ways to give back to communities through charity work and has a mantra of “Be Committed, Be Creative, Be Connected & Be Energised.”
Travelers’ Charity Committee is made up of staff members from throughout the business who fundraise for worthy causes to assist in the creation of community spirit within Travelers. Travelers UK’s 2019 chosen charity of the year was the National Autistic society which provides specialist autism services to the lives of 100,000 autistic people every year.
The Green Group at Travelers emphasises promoting environmental initiatives within the organisation and continually improving the environmental performance of this business. Travelers is passionately committed to sustainability and was awarded the highest accolade, the Chairman’s Cup, at London’s Clean City Awards Scheme this year.
The Employee Forum at Travelers creates an opportunity for employees throughout the business to feel connected to the leadership team through a two-way channel for information and consultation about important developments affecting the business.
The Sports & Social Committee of Travelers aims to get employees energised and to create an exceptional working atmosphere within the organisation.