Travelers 2011 Annual Report Download - page 8

  Annual Report
 Ocean Marine introduced the Marine Construction Program which assists
contractors in managing both the marine and nonmarine contracting
exposures that come with working along the waterfront Ocean Marine also
expanded its online Ocean Express® platform to include specialty boat
repairers via the Shipwright program in addition to the existing Cargo Elite
ExpressSM product for insuring ocean cargo shipments
 Technology continued to bring visibility and thought leadership to emerging
risk issues by publishing the Risk Advisor Series This ongoing series explores
emerging risks in depth including topics such as Social Media Risk Importing
Risk and Electronic Equipment Waste Disposal Risk Planned topics in 
include Cloud Computing Risk and Solar Energy Risk Advancing knowledge
of risk for customers distributors and communities the Risk Advisor Series is
available at travelerscom  Specialized Risks  Technology  Emerging Risk
In Specialized Distribution National Programs enhanced coverage off erings
in several programs including Eagle  Rental and Girl Scouts while launching a
companyunderwritten specialty practice Liquid Propane Gas that is available
directly to all Travelers agents Northland maintained its leadership position in
the transportation market by introducing a new cargo form off ering more
coverage options for customers
Financial, Professional & International Insurance
 Net Written Premium  Billion
Financial Professional & International Insurance includes the Bond & Financial
Products business and the International business Bond & Financial Products
provides a wide range of customers with bond and insurance products and
risk management services Coverages include performance payment and
commercial surety and fi delity bonds for construction and general commercial
enterprises as well as management liability professional liability and crime
coverages primarily to USbased businesses In addition the business provides
traditional property casualty coverage to fi nancial institutions The International
business provides property and casualty insurance products and management
liability professional liability and crime coverages in the United Kingdom Canada
and the Republic of Ireland and internationally through its operations at Lloyd’s
The International business also provides surety bonds in Canada
 Highlights
In June Travelers completed its previously announced acquisition of a
 percent interest in J Malucelli Participações em Seguros e Resseguros SA
the market leader in the surety business in Brazil This investment signifi cantly
increases JMalucelli’s capital level positioning the company for growth in
Brazil In addition the combination of Travelers’ broad insurance expertise with
JMalucelli’s established distribution network and extensive customer base provides
the company with an exceptional platform for expanding the joint venture beyond
the surety business into Brazil’s growing property and casualty market
Bond & Financial Products continued to strengthen its leadership position
through new and enhanced product off erings including the launch of a new
CyberRisk policy dedicated to limiting client cyberrelated exposures and
managing associated risks Off ered through Travelers’ suite of management
liability products the CyberRisk policy allows policyholders to build a customized
policy to fi t their business needs based on  coverage options
This CyberRisk policy suite joins Travelers’ cyber risk products for the technology
industry and the public sector
The International business in Canada and the United Kingdom added a
number of new products as part of a strategy to broaden product off erings
New IndustryEdge® products included Wineries and Food & Beverage in Canada
and Plastics in the United Kingdom Additionally the UK operations launched a
new professional indemnity product off ering aimed at the publishing and general
media sectors and an Errors & Omissions policy E&O for fi lm producers
Personal Insurance
 Net Written Premium  Billion
Personal Insurance off ers individuals a broad array of property and casualty
insurance products Travelers’ primary auto and homeowners products are
complemented by a suite of additional coverage off erings to round out an
individual’s risk management needs umbrella condominium tenant fl ood
identity fraud valuable items boat and yacht and wedding/special events
coverage Personal Insurance products are available to consumers through
multiple channels allowing them to choose the options that fi t best with
their lifestyles and preferences Consumers are able to consult with one of
approximately  independent agencies work with Travelers directly or
access products and services through employee and affi nity groups and joint
marketing arrangements
 Highlights
 Personal Insurance works closely with agents to deliver value to customers
in a number of ways In  Travelers continued to bring on new agencies
and made it easier for agents to interact with the company on behalf of their
clients The company completed the rollout of a new quoteandissue system
that signifi cantly improved agents’ experience when obtaining Travelers’
products for their customers The new interface is easier to use is integrated
with comparative raters and enables enhanced crosssell capabilities across
product lines
 Travelers is committed to helping consumers obtain and manage insurance
on their terms either directly with the company or through an independent agent
Travelers continued to develop its directtoconsumer marketing capabilities
particularly in the digital arena signifi cantly increasing online sales The company
improved the experience policyholders have when interacting with Travelers online
or with one of the company’s experienced employees Enhancements to the
customer selfservice website myTravelerscom have resulted in a better user
experience easier registration and the electronic delivery of auto ID cards
 The depth of Travelers’ products and services is part of the value the company
brings to customers In  Travelers continued to expand that depth with
the countrywide rollout of signifi cant auto product features including new car
discount paidinfull discount and accident forgiveness Travelers enhanced its
pricing and underwriting sophistication with tools such as realtime verifi cation
of prior coverage With agents Travelers helped consumers determine the
right amount of homeowners coverage by educating them on home value
versus replacement costs
 Travelers is committed to helping customers get the information they need
to make the best decisions about protecting what matters to them To that
end Travelers launched the Guide to Better Coverage which gives consumers
and agents online access to decisionmaking tools they can use as they shop
for the right coverage While providing consumers direct access to such
information is important Travelers remains dedicated to strengthening the
consultative role agents serve In  the company released tools to help
agents conduct annual insurance reviews with their clients
 Travelers is there for customers when they buy insurance  and when they
need it In  Travelers claim professionals responded to unprecedented
claims from customers hit by severe weather across the country The
organization was able to respond quickly and eff ectively when tragedy struck
and as a result claim satisfaction numbers remained strong Moreover
agents and customers stated throughout the year that Travelers’ catastrophe
response is industryleading  the ability to have a Travelers claim professional
available when customers need assistance is of great value to them