Travelers 2015 Annual Report Download - page 7

% of Total
(for the year ended December 31, in millions) 2015 2014 2013 2015
By market:
Domestic:
Select Accounts ............................... $ 2,716 $ 2,707 $ 2,724 18.6%
Middle Market ............................... 6,325 6,108 5,862 43.4
National Accounts ............................. 1,048 1,047 1,010 7.2
First Party ................................... 1,564 1,579 1,552 10.7
Specialized Distribution ......................... 1,111 1,074 1,085 7.6
Total Domestic .............................. 12,764 12,515 12,233 87.5
International ................................... 1,819 2,121 1,279 12.5
Total Business and International Insurance by market .$14,583 $14,636 $13,512 100.0%
By product line:
Domestic:
Workers’ compensation ......................... $ 3,915 $ 3,794 $ 3,642 26.8%
Commercial automobile ......................... 1,960 1,892 1,897 13.4
Commercial property ........................... 1,766 1,793 1,748 12.1
General liability ............................... 1,939 1,891 1,823 13.3
Commercial multi-peril ......................... 3,146 3,103 3,083 21.6
Other ...................................... 38 42 40 0.3
Total Domestic .............................. 12,764 12,515 12,233 87.5
International ................................... 1,819 2,121 1,279 12.5
Total Business and International Insurance by product
line .................................... $14,583 $14,636 $13,512 100.0%
Principal Markets and Methods of Distribution
The Business and International Insurance segment distributes its products through approximately
11,300 independent agencies and brokers. Agencies and brokers are serviced by 127 field offices and
three customer service centers.
Business and International Insurance continues to make significant investments in enhanced
technology utilizing internet-based applications to provide real-time interface capabilities with
independent agencies and brokers. Business and International Insurance builds relationships with well-
established, independent insurance agencies and brokers. In selecting new independent agencies and
brokers to distribute its products, Business and International Insurance considers, among other
attributes, each agency’s or broker’s financial strength, staff experience and strategic fit with the
Company’s operating and marketing plans. Once an agency or broker is appointed, Business and
International Insurance carefully monitors its performance. The majority of products offered in the
United States are distributed through a common base of independent agents and brokers, many of
whom also sell the Company’s Personal Insurance products. Additionally, several operations may
underwrite business with agents that specialize in servicing the needs of certain of the industries served
by these operations.
•Select Accounts is a leading provider of commercial property and casualty insurance products to
small businesses in the U.S., generally with fewer than 50 employees, and sells these products
through a large network of independent agents and brokers. Products offered by Select Accounts
are guaranteed-cost policies, including packaged products covering property and liability
exposures. Each small business risk is independently evaluated via an automated underwriting
platform which in turn enables agents to quote, bind and issue a substantial amount of new
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