Supporting Our Agents & Brokers
Our partnerships with our agents and brokers are a key competitive advantage for us and an important driver of our long-term success. We aim to be their indispensable partner; together, we deliver on our promise to be there for our shared customers.
This is why we seek to enhance our digital marketing and sales tools to better support our agents and brokers and to help them identify and capture new business opportunities more effectively. For example, we support our independent agents and brokers by providing them with social media, marketing and customer relationship resources. These resources allow them to leverage our communication platforms and our extensive product and safety content to engage with their local markets and communities.
In 2021, Personal Insurance rolled out READY. SET. PIVOT. (Partnership for Innovation and Vision of Tomorrow), a webinar-based program designed to support agents in their long-term growth and evolution. The program is focused on working with agents to anticipate and prepare for the future of insurance.
We also work closely with our agents when designing new products and tools for our shared customers, helping to meet customers where they are, serve them how they want and give them what they need. For example, we introduced Digital Quote Proposal (DQP) in 39 states, giving our agents the ability to provide customers with a dynamic interactive quote experience. Building on the success of our existing auto telematics offering, IntelliDrive®, we introduced IntelliDrivePlus™ in three states in 2021. At each renewal, the app-based program calculates a new premium by measuring miles driven and driving behaviors, such as braking, acceleration, speed, time of day and distraction. We also rolled out our Digital Auto Discount in 40 states across the country, providing a discount for customers who register for MyTravelers®, opt to go paperless for billing and policy documents, and enroll in a telematics program.
We are also extending digital capabilities in Business Insurance to benefit our agent and broker partners. In November 2021, we launched our external Application Programming Interface (API) pilot to provide our agent and broker partners with real-time access to generate certificates of insurance. This API enables ACORD 25 certificates of insurance to be generated in real time as proof-only certificates through their proprietary broker.
In Bond & Specialty Insurance, we continue to improve the agent experience by enhancing the convenience, connectivity and responsiveness of our digital solutions for transactional surety. We have expanded our bond processing platform, Travelers Click®, to accommodate small commercial surety bonds up to $1 million.
Travelers Institute® educational programming also offers unique value to our network of 13,500 agent and broker partners, providing a distinguished thought leadership platform. Over the course of more than a decade, the Travelers Institute has hosted more than 600 events in collaboration with agents and brokers, enhancing these relationships while providing education and risk mitigation strategies to thousands of consumers.
The programming leverages our agents’ knowledge of how issues such as cybersecurity, distracted driving and natural disasters directly affect families, businesses and communities. Agencies and agent associations regularly co-host programs with the Travelers Institute, invite customers and provide expert speakers, showcasing their risk management expertise and reinforcing their value as trusted advisors for critical insurance decisions. In addition, the Travelers Institute offers presentations on the economic outlook and political landscape at agent conferences and events and provides educational content, including publications, social media campaigns and videos, for agents and brokers to share with clients.
During the pandemic, the Travelers Institute has continued to foster these relationships and provide educational programming through its new Wednesdays with Woodward® webinar series. The series launched in June 2020 to explore personal and professional issues impacting our agents, our brokers, our customers, our employees and the communities we serve. Forty-five programs have been held through the end of 2021, with topics including the future of autonomous vehicles, cross-sector efforts to fight cybercrime, and employee safety and COVID-19, among many others. Notably, the Travelers Institute hosted a webinar, The Changing Landscape of Insurance Distribution, highlighting the pace of today’s business world, as well as the evolving distribution strategies and ongoing consolidation in the insurance industry.
Additional programs explored distribution and agency trends for personal insurance and commercial insurance. These included the following webinars:
The Travelers Institute programs are a great example of how our efforts to strengthen our communities also enhance our relationships with our agent and broker partners and drive our bottom line.