Travelers : Everything you need to know
Headquarters address: 485 Lexington Ave., New York, New York, 10017, United States
Size: 30,000 employees, 13,500 independent agents
Countries of operation: 150+
Net written premiums (2021): US$31.959 billion
Total revenue (2021): US$34.816 billion
Key people: Alan D. Schnitzer, chairman and chief executive officer
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:
- General liability insurance
- Property insurance
- Automobile liability insurance
- Foreign voluntary workers’ compensation insurance
- Employers’ liability insurance
- Kidnap and ransom insurance
- Accidental death and dismemberment insurance
- Executive support services
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.
Travelers also hosts an ongoing series of events for all employees designed to encourage a culture that “embraces the power of differences, where individuality is honored and diverse perspectives are celebrated,” to benefit employees, customers, agents, and communities. Called Diversity Speaks, these events feature guest speakers who share personal stories and provide different experiences and viewpoints.
Since 2008, Travelers has hosted 71 Diversity Speaks events. In 2020, these events delved deeper into the many aspects of building inclusion, equity and allyship. Due to COVID-19 limitations, the live events pivoted to virtual engagements. Over the course of the year, there were approximately 24,000 employee views of the company’s nine virtual Diversity Speaks events.
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.