The Travelers Companies
The predecessor of the Travelers Insurance was the St. Paul Fire and Marine Insurance Company that started in 1853. It serves local customers who were having difficulty in getting claim payments in time from insurance companies. Eleven years later, The Travelers Insurance Company was formed by another group of people for the purpose of insuring travelers from personal injury and against death while traveling by railway or steamboat.
The company offered its many firsts in the industry. Travelers issued the first automobile insurance policy to an individual. They opened the first school to train insurance agents in 1903. In 1904, they organized the first corps of safety engineers. Other firsts include:
- First to offer combination auto policy
- First to launch a driver’s education program
- Developed the first automobile simulator
- Developed the first interactive company/agency computer system
- Launched the first insurance policy to protect individuals using personal computers for online banking
The year 2004 saw the merging of St. Paul Companies and Travelers. The company was named St. Paul Travelers and 3 years later, the corporate name became The Travelers Companies. Up until today, the Travelers Insurance Company continues to develop and introduce technological advancements to improve their business and customer service. But a search on Travelers Insurance company reviews says otherwise. Their customer service is primarily the number one complaint among policy holders. Another primary complaint is their auto insurance claim service. For an insurance company who started with auto insurance, this is not really good.
The financial rating of a company is one of the most important things that investors and prospective customers look for. For Travelers Insurance, claims paying/financial strength from four rating agencies are the following:
A.M. Best Fitch Moody’s Standard & Poor’s
Travelers Pool A+ AA Aa2 AA-
Travelers Casualty and
Surety Co. of America A+ AA Aa2 AA-
