2017 Annual Report
Our competitive advantages serve as a foundation for what has set us apart: deep expertise in understanding risk and the products and services our customers need to manage risk.
Our 500 most senior leaders have an average tenure at Travelers of nearly 20 years. It is an extraordinarily talented and committed leadership team, and because of that we have a culture of excellence that is committed to long-term success. We are also only as good as our ability to continue to attract and retain leading and emerging talent both from within our industry and from disciplines like artificial intelligence and behavioral analytics that are fundamental to our future. You cannot underestimate the importance of talent and culture in a business where success and failure are determined by balancing risk and reward.
Data and analytics have long been core components of our business. From the development and delivery of our products and services, to risk selection, underwriting and pricing, to the ways we interact with our customers and distribution partners, data influences the decisions we make and drives innovation throughout the organization. We have more than 1,200 people working in analytics, including hundreds of actuaries, data scientists and statisticians. We are accelerating the transformation of data into actionable insights through the use of existing and emerging technologies, including artificial intelligence tools and techniques.
We engage broadly across the seven major lines of insurance, and we are the only commercial insurer with a top-five position in five of the seven.* Our portfolio is balanced across these lines of business and further diversified by geography, customer size and our deep underwriting specialization. Additionally, our Personal Insurance business has excellent positioning in the independent agency channel and has a balanced mix of Personal Auto, Homeowners and Specialty business.
Domestically, given the franchise value we bring, we are the carrier of choice among independent agencies and brokers. We have active relationships with more than 100,000 producers working at more than 10,000 firms. These producers have a deep understanding of customer needs, and they provide insights that are a valuable part of our underwriting and risk selection process.
Our expertise in risk control is delivered through more than 700 risk control professionals, most of whom are engineers and industry specialists. We complete more than 60,000 risk surveys annually, which contributes to a unique risk assessment database we have assembled over the past decade. We leverage this resource not just for risk mitigation but also for risk selection and pricing.
Our more than 10,000 dedicated claim professionals are trained to deliver high-quality service and handle claims efficiently and with compassion. Our claim team includes more than 800 highly tenured experts on high-severity claims; more than 650 nurses who make a difference for injured employees and their employers; and more than 650 staff counsel who produce a better outcome for our customers and for us. Our flexible model gives us the capacity to handle multiple and simultaneous catastrophe events with our own employees.
* SNL 2016 U.S. Statutory DWP: CMP, Commercial Auto, Commercial Property, General Liability, Management & Professional Liability, Workers’ Compensation based on TRV definitions. The Surety & Fidelity Association of America. Market Share rankings based on 2016 direct written premium: Surety
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