Innovation

We recognize that the world is evolving quickly. While our long-term financial strategy is not changing, the competitive advantages that have fueled our success over the last decade will not necessarily be the same as those we will need to continue to lead for the next decade. That is the focus of our ambitious innovation agenda: making sure that our competitive advantages are as relevant and differentiating tomorrow as they are today. Ultimately, the vision for our innovation agenda is to be the undeniable choice for the customer and an indispensable partner for our agents and brokers.

Approach

As one of the United States’ largest multiline insurers, we continually invest in data, analytics, technology and operations to make our processes more efficient and effective to better serve our customers and maintain our competitive edge. Our competitive advantages set Travelers apart; they are foundational to the success of our long-term financial strategy. Nonetheless, we understand clearly that the world is changing, and changing quickly. Broadly speaking, we see four significant forces of change impacting our industry.

Forces of Change

Forces of Change graphic, see details below

Forces_Of_Change

We are pursuing an ambitious innovation agenda that is focused intently on these forces of change and is designed to ensure that our competitive advantages remain relevant and differentiating to drive our long-term success.

We believe the winners in our industry will be those with deep domain expertise who can continue to deliver industry-leading results while innovating successfully on top of a foundation of excellence. To ensure that we keep pace with the accelerating rate of demographic, economic, technological, environmental and societal changes in today’s consumer and business environment, we have adopted a focused approach to innovation as a business discipline. Our Chief Innovation Officer leads a dedicated team of innovation specialists who focus on championing and supporting experimentation across the enterprise and enable connections to new capabilities in external ecosystems.

At the same time, our Technology & Operations teams, led by our Chief Technology & Operations Officer, are also actively engaged in our ambitious innovation agenda by driving our digital transformation and advanced data and analytics initiatives. As we scale our agile practices across the organization, including through cross-functional groups, we continue to reinforce our leading position in the industry. We are also deeply committed to modernizing our technology architecture to enable us to continue delivering new business capabilities at scale – driving our performance today and positioning us for the future.

Our “perform and transform” call to action, discussed in our Chairman and CEO's message, and our culture of innovation have become important parts of our DNA. Our collaborative approach to innovation helps us “focus on the future” by bringing an innovative mindset to everything we do, forging strategic internal and external partnerships and accelerating new ideas with speed and direction – or, as we refer to it internally, “innovating with velocity.”

We are pursuing innovation in service of our vision to be the undeniable choice for the customer and an indispensable partner for our agents and brokers. In support of that vision, we have three innovation priorities:

Extend our advantage in risk expertise. We have been a leading property casualty insurer over many years by being excellent at understanding risk and the products and services our customers need to manage their risk. Core to that is our ability to balance the science and art of risk-based decision-making based on data and analytics. That skill set requires a combination of deep expertise and a special culture that values collaboration and long-term success. It is an important competitive advantage developed over a long period of time and one we believe is very difficult to replicate. We seek to extend our advantage by investing in areas such as predictive modeling, advanced analytics, robotic process automation, machine learning, artificial intelligence and new innovative solutions.
Provide great experiences for our customers, agents and brokers. We are laser-focused on providing great experiences for our customers, distribution partners and employees. We are investing in technologies, capabilities, and talent to become faster, nimbler, more digital, more mobile and more personalized. When we think there is a proprietary advantage, we invest in building these capabilities ourselves. In other cases, we partner with, invest in or acquire organizations – both established businesses and startups – to bring these great experiences to market more efficiently. Both approaches have resulted in new and enhanced capabilities, such as on-demand certificates of insurance for Small Commercial accounts, ongoing improvement to our self-service web experience, a completely redesigned mobile app, virtual home and auto inspections, nurses making virtual visits, loss consultation and digital claim payments, to name a few.
Optimize productivity and efficiency. We are continually working to optimize our productivity and efficiency to enhance our operating leverage. This is not just about tightening the belt; it is about bringing a real strategic lens to the way we think about how we do what we do in an effort to do more with less. Enhanced operating leverage provides us with the flexibility to let the savings fall to the bottom line, reinvest the savings and/or compete on price without compromising our return objectives.

Discovering Emerging & Future Opportunities

As a leading property and casualty insurer with deep industry expertise and a long-standing commitment to learning, we believe that our employees, and the knowledge and insight they bring to serving our customers, underlie all of our key competitive advantages. Our talent and expertise, when combined with data, analytical tools, and research capabilities, help us identify emerging and future opportunities, enabling us to offer our customers the products and services they need to protect what’s important to them.

We track key trends that offer clues to how the future may evolve so that we are better positioned as customer preferences and expectations continue to evolve with time. We have in-house teams dedicated to researching and formulating educated viewpoints about the future of society, technology and the insurance industry, driving our long-term strategic priorities. From autonomous vehicles to artificial intelligence (AI), we systematically assess new technologies, plan for their potential impact and identify the business opportunities that may arise as a result.

In addition to watching industry trends, we continually evaluate evolving risks to our customers and help them with mitigation opportunities. We can test real-life scenarios at our research and training facilities – Claim University, the National Catastrophe Center and the Risk Control Digital Forensics Laboratory. Sharing what we learn with our underwriters helps them better select and price risks and develop products and services that address emerging risks to meet customer needs. These insights also give our Risk Control professionals a competitive edge, allowing them to work effectively with customers to help them identify occupational risks and mitigate and manage exposures to loss. In addition, our learnings allow our customers to help improve their employees’ safety and wellness, as well as their own business results. Finally, these insights enable our Claim professionals to help our customers recover from losses quickly and efficiently. We also share our insights with our customers and the public through our agent and broker partners, our Prepare & Prevent website, Travelers Institute and MyTravelers^® for Business.

Fostering External Partnerships

With emerging trends and future scenarios in mind, our dedicated innovation scouts help us forge new partnerships and alliances outside of Travelers to broaden our perspective, gain early access to new ideas and develop solutions to some of the most compelling challenges impacting the industry. We position ourselves in the flow of innovation around the globe by collaborating with incubators, startups, venture capital and private equity firms, and others that are developing exciting new technologies and capabilities. We partner with incubators like Plug and Play and FinTech Innovation Lab New York, and global accelerators like SOSA, based in Tel Aviv. These innovation programs bring together startups from across the globe and some of the world’s largest corporations. Through these partnerships, we participate in initiatives such as the Hartford InsurTech Hub, a collaboration of insurance carriers, representatives of the City of Hartford and community stakeholders, all focused on industry evolution through collaboration and innovation. The goal of this group is to develop a local innovation ecosystem supported by local resources, capabilities and talent, in which insurance technology startups can grow and flourish. We view our involvement in this Hartford-based initiative as an investment in both our communities and our business.

To bring innovative solutions to the construction industry, we launched the Travelers Innovation Network for Construction in 2023. This online platform gives construction customers access to industry insights, as well as a curated group of technology providers and solutions aimed at improving productivity and safety on work sites. Eligible customers can also qualify for discounts on certain products or services presented on the platform. In December 2023, Travelers was recognized by Plug and Play with the InsurTech Corporate Innovation Award for the launch of Travelers Innovation Network, which currently supports construction and transportation customers.

To engage future talent and address industry challenges, we are partnering with academic institutions such as the University of Connecticut (UConn) and Kennesaw State University (KSU) in Georgia. In joint projects with UConn, the Travelers Data & Analytics team is focused on artificial intelligence, machine learning techniques and statistical modeling. Together with KSU, we applied theoretical concepts to real-world AI problems and co-authored four research papers on using AI in a responsible manner while reducing potential classification errors. In addition, as part of our partnership with KSU, we formed the Travelers Responsible AI Lab (TRAIL) at KSU, with a continued focus on leading-edge AI research.

Our external partnerships help advance our data and AI capabilities. We continue to assemble new third-party data sets while refining our existing data to unlock new sources of insights and drive automation and productivity. For example, we set out to find new ways to expedite the process used to detect total losses from wildfires, specifically in the most prevalent fire loss areas of the western United States. Using third-party imagery collected from previous California wildfires, we tapped into our property boundary data to isolate home locations in the pictures. We then crowdsourced the tagging of 40,000 images, enabling a deep learning model to analyze the data and immediately assess which properties were total losses. The identification of total losses from imagery enables us to initiate the claim process faster, which, in turn, allows our customers to begin recovering and rebuilding their properties more quickly.

Driving an Innovation Mindset & Velocity

We built our internal innovation ecosystem to develop the key capabilities needed for the future by leveraging the best talent and ideas from both inside and outside our company. In collaboration with our dedicated Enterprise Innovation team, our network of Travelers leaders – known as our Innovation Evangelist Network – support and champion the crafting of innovation-related objectives for their respective business lines. This network is supported by hundreds of subject matter experts, software engineers, design specialists and data and analytics professionals. These teams deploy their unique insights, perspectives and skills to bring innovative products and services to market and optimize productivity and efficiency to better serve our customers and agent and broker partners.

Through experimentation and partnerships, our innovation team supports our evangelists and other business leaders through mentoring, coaching, facilitation, tools and testing platforms. They provide:

A best-in-class innovation methodology to rapidly bring ideas to life, supported by tools, training classes and online resources.
Innovation designers to facilitate problem definition, information gathering, experiment design and, ultimately, the building of robust business cases for new ideas.
A platform for rapid test-and-learn, with technology and engineers available to enable experimentation at scale, leveraging the latest software tools and emerging technologies inside and outside the company.
Help solving critical business problems and driving velocity within our innovation agenda.

Experimentation Partners graphic, see details below

Innovation_Mindset

We developed tools, training, communications and events to foster an innovation mindset throughout Travelers. Notably, to elicit new ideas, we regularly host ideation events, which we refer to as “Innovation Jams” (InJams). Participants collaborate and compete over the course of 24 hours to develop prototypes that address business challenges. InJam participants include Travelers employees from the United States, Canada and Europe and span all of our business functions. The events bring together employees’ knowledge and expertise in insurance, technology, design, customer experience, marketing and communications, among other disciplines, to solve critical business problems in new and creative ways. A decade-long tradition, our annual InJam has engaged thousands of employees, inspired a number of practical solutions and led to more than 60 patent applications by Travelers. The 2023 InJam, which was conducted both virtually and in person, drew more than 1,000 employees in more than 180 teams.

Innovative Products & Services

The forces of change in our industry present not only risk but also significant opportunities. We continually leverage our innovation ecosystem and data-centric culture to provide new products and services to the insurance market that align with our three strategic innovation priorities. Here are some examples of those innovative products and services and how we are using technology to deliver them.

Products_Services

To learn about how our innovative products and services incentivize health, safety and/or environmentally responsible actions and behaviors, see our SASB Report.

Connected Protection	Our Connected Protection program helps our property customers reduce risk by introducing them to Internet of Things (IoT) solutions, such as smart devices, and a network of preferred suppliers who can provide them. The smart devices provide customers with real-time feedback and alerts through a smart phone or dashboard. The devices can address a range of risks, such as water leaks and broken manufacturing equipment, while the suppliers can offer potential discounts and smart device guidance.
Using AI to Streamline Submission and Quoting Processes	Insurance quote requests often require significant manual effort to extract information from submitted documents before an underwriter can fully evaluate and price the risk. By organizing valuable unstructured data from submission documents, artificial intelligence (AI) augments our underwriting capabilities, enhancing risk selection and increasing efficiency while also enabling agents and brokers to write more business more quickly.
Travelers’ Third-Party Claims Administration Services	Through its subsidiary Constitution State Services (CSS), Travelers has provided claim management services for more than 40 years. CSS acts as a third-party administrator for larger commercial customers for workers compensation claims, general liability claims, commercial auto claims and property claims. CSS provides a prompt, focused response to claims, working collaboratively with our clients to efficiently pay what is owed, manage expenses and provide excellent customer service. CSS is able to deliver superior results by leveraging its national scale and technical expertise.
BrokerTech Ventures	We continue to partner with BrokerTech Ventures – an entity that convenes broker-centric innovation, ideation, investment and communication – to identify new ways to collaborate on technology solutions for agents and brokers. BrokerTech Ventures continues to provide Travelers with early access to startups focused on developing technology solutions for the insurance industry.
Digital Delivery of Policy Documents	By enabling agents and customers to correspond and transact business with us digitally, including by e-signing documents, we’re able to provide quicker service while reducing our paper usage and mail costs.
Risk Management Information Services (e-CARMA^®)	Travelers Risk Management Information Services uses advanced technology to gather and analyze many elements that can have a significant impact on loss experience. For our larger Business Insurance customers with more sophisticated or complex operations, we offer *e-CARMA*, a comprehensive and customizable analysis tool that makes accessing loss information faster and easier so our customers can make timely and informed decisions to help keep their businesses running smoothly.
MyTravelers^® for Business	In 2023, we continued to experience increased adoption of our digital business assets. MyTravelers for Business provides online, on-demand self-service capabilities for our customers so they can manage their business insurance accounts on their own schedules. Once logged in, customers can view their Travelers policies and billing accounts and access an extensive inventory of capabilities. These include reporting a claim or checking the status of a claim; obtaining copies of policy documents or certificates of insurance; accessing historical claim or loss run information; printing auto ID cards; and viewing limits and deductibles.
Global Companion^℠ Plus+	Global Companion Plus+ is a product that builds on the company’s broad property and casualty offerings for U.S. firms with foreign exposures. Features of Global Companion Plus+ include: Primary Foreign Voluntary Workers Compensation. Protects employees who are working outside their home countries. Financial Interest. Provides a separate $1 million limit for U.S.-based companies as an extra layer of protection when an eligible foreign subsidiary suffers a covered loss. Global Panel Counsel Service. Helps businesses in need of legal assistance abroad find reputable in-country representation experienced in local regulations and languages. Emergency Evacuation Coverage. Offsets the cost of employees who must evacuate while abroad. This now includes coverage for natural disasters, political unrest and endemic disease. Learn more
Travelers BOP 2.0	Our BOP (Business Owner Policy) 2.0 product, launched in 2019 with input from our agents and brokers, makes the quoting experience faster and easier with simplified screens, fewer questions, more customer information prefilled and modernized business classifications. We also adjusted our pricing, introduced new discounts and provided flexible offerings that allow agents and brokers to package coverages in a way that best meets the needs of our customers. Countrywide rollout is in progress.
Certified Data Products	We created a series of certified data products that leverage both Travelers and third-party data. These products are operationally integrated, mastered, standardized, curated and quality controlled. For example, our new Certified Business database contains details on more than 30 million businesses, nonprofits and municipalities, providing a 360-degree view of each entity. Certified Business currently enables employees to share customer information across all lines of business – improving our ability to generate new business leads, cross-sell our products and make more informed business decisions during the sales and underwriting process.
Groundspeed Analytics	Travelers has a strategic partnership with Groundspeed Analytics, Inc. to simplify the company’s new business and policy renewal processes through the use of artificial intelligence (AI). We plan to continue to collaborate with Groundspeed on the design of additional AI capabilities to improve operational efficiencies through the automation of commercial insurance analytics.

Project Loss Insurance	As construction projects continue to reach new heights, so do the exposures faced by construction companies. Bigger projects mean greater bottom-line risk. One poor estimate or delinquent subcontractor could cause construction companies to face significant business impairment or worse – complete failure. Only Travelers offers this innovative product designed to help protect construction companies from a potential catastrophic loss.
Cyber Risk Management Expertise and Services	When it comes to cybersecurity, the right insurance policy is essential, but that is only one part of what we have to offer. Through both public and private partnerships, we are improving the knowledge and risk management capabilities we bring to agents and customers. Travelers provides its CyberRisk policyholders with innovative pre- and post-breach risk management resources, such as access to the Travelers eRiskHub^® powered by NetDiligence^®, cyber coaches who can offer actionable advice and answers, and pre-breach services provided by HCL Technologies.
Corvus Insurance	Corvus Insurance leverages AI-driven data to offer cyber insurance products. Travelers entered into a strategic partnership with Corvus in 2022 to support its cyber insurance offerings and to extend Travelers’ business into continental Europe. This partnership provides localized cyber insurance products primarily in Germany and Austria. Travelers acquired Corvus in January 2024 in order to leverage its cutting-edge cyber capabilities and expertise.
Management Liability Offerings via Travis	Through the Small Commercial Travis platform, in a few easy clicks, agents can cross-sell, quote and bind certain Management Liability coverages with speed and simplicity alongside the Business Owner’s Policy (BOP). This enhanced digital connectivity and integration of products drives efficiencies for our distribution partners and provides value to our Small Commercial customers.
Travelers Click^®	This modern and sophisticated online system leverages our data to place smaller transactional bonds, such as notary and license and permit bonds, through a no-touch process. With over 5,000 bond types available and new features continually being added to this robust underwriting engine, we help agents and brokers process bonds more easily.

Embedded Insurance Opportunities	Travelers Personal Insurance provides embedded commerce solutions for insurance-adjacent brands, where insurance is a secondary but necessary consideration. Customers of these digital brands can receive quotes either directly from Travelers or via various other carriers. They may also purchase an insurance policy through InsuraMatch, a Travelers-owned national insurance agency.
InsuraMatch	InsuraMatch is a Travelers-owned property casualty insurance agency that writes business for 50+ carriers across the United States. It provides its partners’ clients with an easy online comparison-shopping experience backed by a licensed staff of insurance advisors. InsuraMatch has enabled Travelers to strengthen its direct-to-consumer business and its Affinity relationships, as well as launch embedded partnerships through digital and call center experiences. InsuraMatch began offering small commercial Excess and Surplus Wholesale brokering in late 2022. It expanded its services to E&S commercial lines with a goal of better serving Travelers Select Retail Agents. This wholesale division launched in 20 states during 2023. Learn more
Simply Business^®	Simply Business is a growing technology company, owned by Travelers and operated as a stand-alone business, which offers products online on behalf of a broad panel of carriers with a presence in the United Kingdom and the United States. Its proven business model enhances the insurance buying experience for microbusiness owners and aligns with Travelers’ efforts to simplify the small commercial insurance transaction. Simply Business has more than one million microbusiness and landlord customers, representing more than 1,000 classes of business. Learn more
Zensurance Investment	Zensurance, our wholly owned subsidiary, is a Toronto-based digital provider of online insurance solutions for small businesses, offering business insurance online on behalf of a broad panel of carriers in Canada. Zensurance uses data and analytics to identify the most common risks that small businesses face and designs insurance packages that are best suited for their respective industries. Zensurance is a natural fit with our Simply Business team, further adding to our digital capabilities and medium-term strategic positioning to serve small businesses and microbusinesses. Learn more

MyTravelers^® Repair Network for Auto	We expedite the processing of auto damage claims through predictive models that quickly categorize types of vehicle damage and assist in the damage assessment process. Through partnerships with trusted repair shops, we can then offer an efficient one-stop repair solution.
Catastrophe Event Analytics	We continually leverage data, analytics and artificial intelligence to track storms, policies in force and pre-storm damage to understand the impact of a catastrophe event and proactively deploy resources to help our customers restore what matters most to them.
QuantumSubro^SM	QuantumSubro utilizes the scale and expertise of Travelers’ subrogation capabilities to provide a cost-effective recovery solution for carriers or entities impacted by mass claim events.
Drones in Property Inspection	Widespread use of unmanned aerial systems (drones) in property damage inspections speeds claim inspection and resolution times; approximately 96% of all Personal Insurance claims were closed within 30 days when a drone was used during the inspection process, as compared with 89% when a drone was not used. Widespread use of drones enhances customer experience and increases employee safety. More than 700 of our certified pilots conducted approximately 200,000 drone flights for property claims in 48 states and Canada since the inception of the program. Travelers was the first insurer to develop a drone training program and assisted with developing FAA regulations for commercial use of unmanned aircraft systems. Aloft, a leading provider of drone operations software, reinforces our leadership role in the commercial application of drone technology.
Preferred Contractor Network	Introduced in 2022, our preferred contractor network for home repairs helps connect homeowners with qualified contractors quickly and easily.
Mental Health App	In Workers Compensation, we offer new tools focused on the biopsychosocial wellness of the injured employee, including the Wysa Return to Work app designed to support the well-being of injured employees.
Virtual Inspection Tools	We partner with vendors to offer virtual tools that help customers share information with us about their homes or vehicles to streamline the damage inspection process. With our virtual inspection tools, we can quickly assess coverage and damages and often resolve a property or auto claim in hours.
Claim Helper	We launched efforts in our General Liability business to help unrepresented claimants understand how to value their claims, creating efficiencies for all parties.

Construction Vibration App	When construction work is occurring, the impacts may be felt beyond the worksite. The online tool ZoneCheck^® helps construction companies understand how site activities can impact ground vibration and identify related risks to nearby structures.
Forensics and Digital Forensics Laboratories	We have a Forensics Laboratory staffed by a team of scientists and engineers with backgrounds in chemistry, materials science, fire investigation, construction, oil and gas, fire protection, electrical, mechanical and accident reconstruction. These broad capabilities leverage analytical rigor to identify how losses occur and who or what is responsible. Our Digital Forensics Laboratory, staffed by specialists, enables Travelers to ingest, preserve and analyze digital data from any source, including the web, social media and smart devices. This capability considerably advances forensic investigations and contributes to our understanding of how losses occur.
Ergonomics Specialist Expertise and Technology	The combination of Travelers' ergonomics expertise and video capabilities enhanced by artificial intelligence (AI) allows us to help customers measurably reduce the risk of soft tissue injuries and musculoskeletal disorders. This virtual safety consulting capability enables customers to access our network of safety specialists in real time. Customers can upload digital media and collaborate with Travelers specialists to evaluate occupational hazards and design and implement safety improvements. Using digital video and screen-sharing technology, ergonomic specialists collaborate with our customers, including through the use of our AI-Assisted Ergonomic Assessment, to identify job hazards and design improvements to help reduce the risk of developing musculoskeletal disorders.
Personalized Risk Control Advice	We help customers protect their businesses and employees through one-on-one consultations with Risk Control professionals and personalized web-based systems to get them the right resource at the right time.
Risk Control On-Demand®	Risk Control On-Demand capabilities allow us to virtually interact with our customers to assess their operations and collaborate with their management teams across multiple locations. We develop consultative reports to provide actionable solutions that can help our customers reduce risk.
Fire Protection Impairment Tool	Available on our secure Risk Control website on MyTravelers^®for Business, this tool is designed to help customers record and communicate to Travelers when a sprinkler system, fire pump, special extinguishing systems or other fire protection system component is out of service. Customers can track impairments at multiple properties and get reminder emails to help return a system back to service in a timely manner, helping to protect their business and employees. Learn more
Helping Contractors Manage the Cost of Risk	Travelers has an exclusive agreement with Procore, a leading provider of construction management software, to help contractors manage the total cost of risk through improved operations and job-site safety. Procore’s construction platform connects entire project teams, from the office to the field and across companies. This provides key stakeholders – owners, general contractors, specialty contractors, architects and engineers – with the ability to collaborate across locations and devices. Procore’s platform can help contractors avoid many costly losses and delays through effective risk management and cross-team collaboration. Learn more
Pump Loan Plus^®	Our Pump Loan Plus program (PLP) is a virtual consulting program to help customers assess their occupational health exposures. The program also includes options to use remote sensing technologies for indoor air quality. Travelers loans customers the necessary equipment to complete various sampling. Customers conduct sampling and send the data and samples back for analysis. Risk Control staff provides technical assistance under the direction of a Certified Industrial Hygienist. Following analysis by the Travelers Industrial Hygiene Laboratory, the customer receives a letter of interpretation from our consultants to assist in risk mitigation. This flexible approach promotes self-sufficiency for customers to better understand occupational exposures in a timely and cost-effective manner.
RightTouch	Right Touch is an engagement strategy between our Underwriting and Risk Control groups that leverages data, technology and our collective field experience to effectively identify changes in an account between the previous risk assessment to the current renewal period. The Right Touch tool analyzes data related to changes in exposure, changes in claim trends, observations and recommendations to help prioritize on-site surveys or follow-up consultations. The Right Touch analytics and conclusions are expected to guide faster, more consistent decisions regarding whether and when to engage Risk Control and to enable us to provide customers with the right products at a competitive price.

Illustrative Initiatives

SEE ALL INITIATIVES

Our Drivers of Sustained Value

INNOVATIVE PRODUCTS & SERVICES

Business Insurance

Connected Protection	Our Connected Protection program helps our property customers reduce risk by introducing them to Internet of Things (IoT) solutions, such as smart devices, and a network of preferred suppliers who can provide them. The smart devices provide customers with real-time feedback and alerts through a smart phone or dashboard. The devices can address a range of risks, such as water leaks and broken manufacturing equipment, while the suppliers can offer potential discounts and smart device guidance.
Using AI to Streamline Submission and Quoting Processes	Insurance quote requests often require significant manual effort to extract information from submitted documents before an underwriter can fully evaluate and price the risk. By organizing valuable unstructured data from submission documents, artificial intelligence (AI) augments our underwriting capabilities, enhancing risk selection and increasing efficiency while also enabling agents and brokers to write more business more quickly.
Travelers’ Third-Party Claims Administration Services	Through its subsidiary Constitution State Services (CSS), Travelers has provided claim management services for more than 40 years. CSS acts as a third-party administrator for larger commercial customers for workers compensation claims, general liability claims, commercial auto claims and property claims. CSS provides a prompt, focused response to claims, working collaboratively with our clients to efficiently pay what is owed, manage expenses and provide excellent customer service. CSS is able to deliver superior results by leveraging its national scale and technical expertise.
BrokerTech Ventures	We continue to partner with BrokerTech Ventures – an entity that convenes broker-centric innovation, ideation, investment and communication – to identify new ways to collaborate on technology solutions for agents and brokers. BrokerTech Ventures continues to provide Travelers with early access to startups focused on developing technology solutions for the insurance industry.
Digital Delivery of Policy Documents	By enabling agents and customers to correspond and transact business with us digitally, including by e-signing documents, we’re able to provide quicker service while reducing our paper usage and mail costs.
Risk Management Information Services (e-CARMA^®)	Travelers Risk Management Information Services uses advanced technology to gather and analyze many elements that can have a significant impact on loss experience. For our larger Business Insurance customers with more sophisticated or complex operations, we offer *e-CARMA*, a comprehensive and customizable analysis tool that makes accessing loss information faster and easier so our customers can make timely and informed decisions to help keep their businesses running smoothly.
MyTravelers^® for Business	In 2023, we continued to experience increased adoption of our digital business assets. MyTravelers for Business provides online, on-demand self-service capabilities for our customers so they can manage their business insurance accounts on their own schedules. Once logged in, customers can view their Travelers policies and billing accounts and access an extensive inventory of capabilities. These include reporting a claim or checking the status of a claim; obtaining copies of policy documents or certificates of insurance; accessing historical claim or loss run information; printing auto ID cards; and viewing limits and deductibles.
Global Companion^℠ Plus+	Global Companion Plus+ is a product that builds on the company’s broad property and casualty offerings for U.S. firms with foreign exposures. Features of Global Companion Plus+ include: Primary Foreign Voluntary Workers Compensation. Protects employees who are working outside their home countries. Financial Interest. Provides a separate $1 million limit for U.S.-based companies as an extra layer of protection when an eligible foreign subsidiary suffers a covered loss. Global Panel Counsel Service. Helps businesses in need of legal assistance abroad find reputable in-country representation experienced in local regulations and languages. Emergency Evacuation Coverage. Offsets the cost of employees who must evacuate while abroad. This now includes coverage for natural disasters, political unrest and endemic disease. Learn more
Travelers BOP 2.0	Our BOP (Business Owner Policy) 2.0 product, launched in 2019 with input from our agents and brokers, makes the quoting experience faster and easier with simplified screens, fewer questions, more customer information prefilled and modernized business classifications. We also adjusted our pricing, introduced new discounts and provided flexible offerings that allow agents and brokers to package coverages in a way that best meets the needs of our customers. Countrywide rollout is in progress.
Certified Data Products	We created a series of certified data products that leverage both Travelers and third-party data. These products are operationally integrated, mastered, standardized, curated and quality controlled. For example, our new Certified Business database contains details on more than 30 million businesses, nonprofits and municipalities, providing a 360-degree view of each entity. Certified Business currently enables employees to share customer information across all lines of business – improving our ability to generate new business leads, cross-sell our products and make more informed business decisions during the sales and underwriting process.
Groundspeed Analytics	Travelers has a strategic partnership with Groundspeed Analytics, Inc. to simplify the company’s new business and policy renewal processes through the use of artificial intelligence (AI). We plan to continue to collaborate with Groundspeed on the design of additional AI capabilities to improve operational efficiencies through the automation of commercial insurance analytics.

Personal Insurance

LiveEasy

Travelers is a strategic investor in LiveEasy, formerly MoveEasy − a full-service home management concierge platform designed to help U.S. homeowners and renters with all their moving and home management needs.
LiveEasy’s service is delivered primarily through partnerships with realtors, home inspectors and mortgage banks. Travelers is its primary partner for the insurance shopping and buying experience on the LiveEasy site, offering insurance rate comparisons with multiple carriers via InsuraMatch.

Learn more

Premium Compare Tool

The Premium Compare Tool is a fast, convenient, easily accessible way for our customer-facing employees and agents to clearly understand why a customer's premium has changed.
This tool has created efficiencies to better equip our employees, agents and partners to meet our customers' needs.

Trōv

In 2022, our Personal Insurance business acquired sophisticated technology from Trōv, a provider of digital insurance solutions. The technology will build upon existing capabilities to embed or products into partners’ digital ecosystems to reach more customers where they are.
In addition to acquiring the technology, Personal Insurance welcomed several new team members from Trōv. With deep expertise in the acquired technology, a proven track record of innovation and an entrepreneurial spirit, they are a strong complement to our existing team.

Bond & Specialty Insurance

Project Loss Insurance	As construction projects continue to reach new heights, so do the exposures faced by construction companies. Bigger projects mean greater bottom-line risk. One poor estimate or delinquent subcontractor could cause construction companies to face significant business impairment or worse – complete failure. Only Travelers offers this innovative product designed to help protect construction companies from a potential catastrophic loss.
Cyber Risk Management Expertise and Services	When it comes to cybersecurity, the right insurance policy is essential, but that is only one part of what we have to offer. Through both public and private partnerships, we are improving the knowledge and risk management capabilities we bring to agents and customers. Travelers provides its CyberRisk policyholders with innovative pre- and post-breach risk management resources, such as access to the Travelers eRiskHub^® powered by NetDiligence^®, cyber coaches who can offer actionable advice and answers, and pre-breach services provided by HCL Technologies.
Corvus Insurance	Corvus Insurance leverages AI-driven data to offer cyber insurance products. Travelers entered into a strategic partnership with Corvus in 2022 to support its cyber insurance offerings and to extend Travelers’ business into continental Europe. This partnership provides localized cyber insurance products primarily in Germany and Austria. Travelers acquired Corvus in January 2024 in order to leverage its cutting-edge cyber capabilities and expertise.
Management Liability Offerings via Travis	Through the Small Commercial Travis platform, in a few easy clicks, agents can cross-sell, quote and bind certain Management Liability coverages with speed and simplicity alongside the Business Owner’s Policy (BOP). This enhanced digital connectivity and integration of products drives efficiencies for our distribution partners and provides value to our Small Commercial customers.
Travelers Click^®	This modern and sophisticated online system leverages our data to place smaller transactional bonds, such as notary and license and permit bonds, through a no-touch process. With over 5,000 bond types available and new features continually being added to this robust underwriting engine, we help agents and brokers process bonds more easily.

Distribution

Embedded Insurance Opportunities	Travelers Personal Insurance provides embedded commerce solutions for insurance-adjacent brands, where insurance is a secondary but necessary consideration. Customers of these digital brands can receive quotes either directly from Travelers or via various other carriers. They may also purchase an insurance policy through InsuraMatch, a Travelers-owned national insurance agency.
InsuraMatch	InsuraMatch is a Travelers-owned property casualty insurance agency that writes business for 50+ carriers across the United States. It provides its partners’ clients with an easy online comparison-shopping experience backed by a licensed staff of insurance advisors. InsuraMatch has enabled Travelers to strengthen its direct-to-consumer business and its Affinity relationships, as well as launch embedded partnerships through digital and call center experiences. InsuraMatch began offering small commercial Excess and Surplus Wholesale brokering in late 2022. It expanded its services to E&S commercial lines with a goal of better serving Travelers Select Retail Agents. This wholesale division launched in 20 states during 2023. Learn more
Simply Business^®	Simply Business is a growing technology company, owned by Travelers and operated as a stand-alone business, which offers products online on behalf of a broad panel of carriers with a presence in the United Kingdom and the United States. Its proven business model enhances the insurance buying experience for microbusiness owners and aligns with Travelers’ efforts to simplify the small commercial insurance transaction. Simply Business has more than one million microbusiness and landlord customers, representing more than 1,000 classes of business. Learn more
Zensurance Investment	Zensurance, our wholly owned subsidiary, is a Toronto-based digital provider of online insurance solutions for small businesses, offering business insurance online on behalf of a broad panel of carriers in Canada. Zensurance uses data and analytics to identify the most common risks that small businesses face and designs insurance packages that are best suited for their respective industries. Zensurance is a natural fit with our Simply Business team, further adding to our digital capabilities and medium-term strategic positioning to serve small businesses and microbusinesses. Learn more

Claim

MyTravelers^® Repair Network for Auto	We expedite the processing of auto damage claims through predictive models that quickly categorize types of vehicle damage and assist in the damage assessment process. Through partnerships with trusted repair shops, we can then offer an efficient one-stop repair solution.
Catastrophe Event Analytics	We continually leverage data, analytics and artificial intelligence to track storms, policies in force and pre-storm damage to understand the impact of a catastrophe event and proactively deploy resources to help our customers restore what matters most to them.
QuantumSubro^SM	QuantumSubro utilizes the scale and expertise of Travelers’ subrogation capabilities to provide a cost-effective recovery solution for carriers or entities impacted by mass claim events.
Drones in Property Inspection	Widespread use of unmanned aerial systems (drones) in property damage inspections speeds claim inspection and resolution times; approximately 96% of all Personal Insurance claims were closed within 30 days when a drone was used during the inspection process, as compared with 89% when a drone was not used. Widespread use of drones enhances customer experience and increases employee safety. More than 700 of our certified pilots conducted approximately 200,000 drone flights for property claims in 48 states and Canada since the inception of the program. Travelers was the first insurer to develop a drone training program and assisted with developing FAA regulations for commercial use of unmanned aircraft systems. Aloft, a leading provider of drone operations software, reinforces our leadership role in the commercial application of drone technology.
Preferred Contractor Network	Introduced in 2022, our preferred contractor network for home repairs helps connect homeowners with qualified contractors quickly and easily.
Mental Health App	In Workers Compensation, we offer new tools focused on the biopsychosocial wellness of the injured employee, including the Wysa Return to Work app designed to support the well-being of injured employees.
Virtual Inspection Tools	We partner with vendors to offer virtual tools that help customers share information with us about their homes or vehicles to streamline the damage inspection process. With our virtual inspection tools, we can quickly assess coverage and damages and often resolve a property or auto claim in hours.
Claim Helper	We launched efforts in our General Liability business to help unrepresented claimants understand how to value their claims, creating efficiencies for all parties.

Risk Control

Construction Vibration App	When construction work is occurring, the impacts may be felt beyond the worksite. The online tool ZoneCheck^® helps construction companies understand how site activities can impact ground vibration and identify related risks to nearby structures.
Forensics and Digital Forensics Laboratories	We have a Forensics Laboratory staffed by a team of scientists and engineers with backgrounds in chemistry, materials science, fire investigation, construction, oil and gas, fire protection, electrical, mechanical and accident reconstruction. These broad capabilities leverage analytical rigor to identify how losses occur and who or what is responsible. Our Digital Forensics Laboratory, staffed by specialists, enables Travelers to ingest, preserve and analyze digital data from any source, including the web, social media and smart devices. This capability considerably advances forensic investigations and contributes to our understanding of how losses occur.
Ergonomics Specialist Expertise and Technology	The combination of Travelers' ergonomics expertise and video capabilities enhanced by artificial intelligence (AI) allows us to help customers measurably reduce the risk of soft tissue injuries and musculoskeletal disorders. This virtual safety consulting capability enables customers to access our network of safety specialists in real time. Customers can upload digital media and collaborate with Travelers specialists to evaluate occupational hazards and design and implement safety improvements. Using digital video and screen-sharing technology, ergonomic specialists collaborate with our customers, including through the use of our AI-Assisted Ergonomic Assessment, to identify job hazards and design improvements to help reduce the risk of developing musculoskeletal disorders.
Personalized Risk Control Advice	We help customers protect their businesses and employees through one-on-one consultations with Risk Control professionals and personalized web-based systems to get them the right resource at the right time.
Risk Control On-Demand®	Risk Control On-Demand capabilities allow us to virtually interact with our customers to assess their operations and collaborate with their management teams across multiple locations. We develop consultative reports to provide actionable solutions that can help our customers reduce risk.
Fire Protection Impairment Tool	Available on our secure Risk Control website on MyTravelers^®for Business, this tool is designed to help customers record and communicate to Travelers when a sprinkler system, fire pump, special extinguishing systems or other fire protection system component is out of service. Customers can track impairments at multiple properties and get reminder emails to help return a system back to service in a timely manner, helping to protect their business and employees. Learn more
Helping Contractors Manage the Cost of Risk	Travelers has an exclusive agreement with Procore, a leading provider of construction management software, to help contractors manage the total cost of risk through improved operations and job-site safety. Procore’s construction platform connects entire project teams, from the office to the field and across companies. This provides key stakeholders – owners, general contractors, specialty contractors, architects and engineers – with the ability to collaborate across locations and devices. Procore’s platform can help contractors avoid many costly losses and delays through effective risk management and cross-team collaboration. Learn more
Pump Loan Plus^®	Our Pump Loan Plus program (PLP) is a virtual consulting program to help customers assess their occupational health exposures. The program also includes options to use remote sensing technologies for indoor air quality. Travelers loans customers the necessary equipment to complete various sampling. Customers conduct sampling and send the data and samples back for analysis. Risk Control staff provides technical assistance under the direction of a Certified Industrial Hygienist. Following analysis by the Travelers Industrial Hygiene Laboratory, the customer receives a letter of interpretation from our consultants to assist in risk mitigation. This flexible approach promotes self-sufficiency for customers to better understand occupational exposures in a timely and cost-effective manner.
RightTouch	Right Touch is an engagement strategy between our Underwriting and Risk Control groups that leverages data, technology and our collective field experience to effectively identify changes in an account between the previous risk assessment to the current renewal period. The Right Touch tool analyzes data related to changes in exposure, changes in claim trends, observations and recommendations to help prioritize on-site surveys or follow-up consultations. The Right Touch analytics and conclusions are expected to guide faster, more consistent decisions regarding whether and when to engage Risk Control and to enable us to provide customers with the right products at a competitive price.