Travelers has announced the launch of a new homeowners’ insurance product.

Quantum Home 2.0 (QH2.0) features tailored pricing and more flexible coverage options, according to Travelers. The new product also features simplified documents to help customers better understand their insurance.

“We partnered with our agents to develop QH2.0, and the result is a completely redesigned product that provides greater customization, fewer steps to complete a quote and simplified customer communications,” said Michael Klein, Travelers’ executive vice president and president of personal insurance and head of enterprise business intelligence and analytics. “This new product will increase efficiency for agents while helping them to deliver better service and drive new business.”

QH2.0’s features include:

• Travelers’ “Decreasing Deductible” and loss-forgiveness options that reward customers for their loyalty.
• New discounts for customers who pay on time.
• Discounts for customers with smart-home protective technology.
• Enhanced water package that can cover sewer backups and hidden water damage.

The product is currently available in Colorado, Oregon and Wisconsin, and will be rolled out in additional states in mid-2018.

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