Travelers 2006 Annual Report Download - page 8

06
Travelers at a Glance
Travelers offers a wide variety of property and casualty insurance and surety products and services to
businesses, organizations and individuals in the United States and in selected international markets. Products
are distributed primarily through independent insurance agents and brokers.
Travelers is organized into the following business segments: Business Insurance; Financial, Professional &
International Insurance; and Personal Insurance. For more information about Travelers and its products
and services, visit the company’s Web site, www.travelers.com.
National Accounts introduced a major enhancement to its
industry-leading risk management information tool, the e-CARMA®
Dashboard, which automatically delivers customized financial and
claim status summary reports in a single display. The Web-based
e-CARMA product is regularly accessed by more than 12,000
customer organizations nationwide, and the Dashboard enables
risk managers to identify trends in loss causation, outcomes and
claim performance metrics – key drivers in managing their total
cost of risk.
In the Target Risk and Industry-Focused Underwriting groups,
there were several developments, among them:
The National Property business unit, one of the largest writers
of business property insurance in the United States, is now
serving multinational customers with global property coverage
needs by partnering with Global Underwriting to provide seam-
less policy language on a locally-admitted basis. This combined
approach reduces potential coverage gaps for policyholders.
The Oil & Gas business unit strengthened its market position
by developing large account and loss responsive programs and
enhanced risk control and claims handling services focused on
“well control” safety with 24-7 emergency response capabilities.
The Technology business unit expanded its capabilities to
expertly underwrite technology risks by launching Market
Solutions, an efficient underwriting platform and process for
smaller and medium-sized technology companies and by work-
ing with other business units. Partnering with Select Accounts,
Technology developed coverage to insure small technology firms
that provide computer consultation, technology service and
manufacture electronics and instruments. It also has teamed
up with National Accounts and National Property to be the
market of choice for large technology companies. In addition,
Technology enhanced its popular CyberTech+SM product to
employ a modular approach to Errors & Omissions, Internet
Liability and Media & Communications Liability coverages.
Net Written Premiums: $11.0 Billion
Business Insurance offers a broad array of property and casualty
insurance products and services to its clients, which range from
small “main street” businesses to Fortune®100 corporations.
Business Insurance is organized into marketing and underwriting
groups focused on particular markets, industries or product lines.
Select Accounts markets property and casualty coverages to
small businesses; Commercial Accounts markets tailored insur-
ance products and services to mid-sized businesses; and
National Accounts markets insurance and risk management
services to large companies. In addition, business units in the
Target Risk Underwriting, Industry-Focused Underwriting and
Specialized Distribution groups provide insurance products and
services to address large property, inland marine, ocean marine
and excess casualty risks and tailor coverage to complex indus-
tries, including the oil & gas, technology, agriculture, trucking
(through Northland Insurance), construction and public entity
sectors, among others.
2006 Highlights
Business Insurance continued its important focus on industry and
product specialization while encouraging innovation and collabora-
tion to deliver high quality products and services to agents, brokers
and customers. The company’s position as a top U.S. business
insurer through independent agents was solidified with the
appointment of over 500 new agencies.
Select Accounts began the roll out of a new and innovative
quote-to-issue process, TravelersExpressSM
, which dramatically
improves agents’ speed and ease of writing new business – an
important consideration for small business insurance. Also, the
group expanded its risk appetite with the addition of industry
classes representing significant opportunity.
Commercial Accounts continued the development of industry-
specific products for middle market customers by introducing
IndustryEdgeSM
, a suite of industry-specific, proprietary products.
One example was the design of coverage specifically for franchised
auto dealers.
Business Insurance