Travelers has been in the insurance industry for over 150 years and offered its first auto insurance policy in 1897. Founded by Alexander Wilkin and 16 other St. Paul, Minnesota businessmen in 1853, the company’s vision was to provide life insurance for travelers journeying by steamboat or train.
In 1907, Travelers organized itself to handle property insurance policies. By 1912, the company offered its first combination auto policy. It also launched a drivers’ education program in 1936, shortly before the onset of World War II.
After the war, Travelers became the very first insurance provider to establish its own weather research center in 1956. The company also set up the first version of customer hotlines in 1968.
Twelve years later in 1980, Travelers developed the first interactive agent-company computer system and launched a new fraud detection system in 1996 against insurance fraud. This was followed by a policy which protected clients using personal computers for online transactions. By 2003, the company launched MYytraveller.com to give policy holders the freedom to pay bills online and check claims status.
Travelers insurance is the second largest writer of property and casualty insurance in the United States. It has assets of over $110 billion and total revenue of $28 billion as of 2008. It is also number 99 on the Fortune 500 list of largest U.S. companies.
At present, the company employs over 33,000 regular employees and 12,000 independent agents nationwide. Travelers operates in all 50 states and is rated “A” by A.M. Best for the company’s financial strength.