As one of the longest standing insurance companies, Travelers has been offering accident insurance for more than 160 years. Travelers’ reputation as one of the best property casualty insurers is because it is an “insurance company that cares.” The Travelers Companies Inc. is a joint venture of two merged companies, Travelers & The Saint Paul Fire and Marine Insurance Company.
Travelers tells the story of its early beginnings in 1864 on its website. Hartford businessman James G. Batterson met a local banker, James E. Bolter, in the post office. Bolter had heard that Batterson and several fellow townsmen were organizing a company to introduce accident insurance to the United States. He asked Batterson how much he would charge to insure him for his four-block walk home. “Two cents,” Batterson said.
The St. Paul Fire and Marine Insurance Company began in 1855 by Alexander Wilkin, who realized the need for local insurance to handle the threat of fire. The first claim that the company handled was a bakery file that had spread to neighboring offices.
In 2004, both companies merged and, in 2007, changed its name to The Travelers Companies, Inc.
With a strong focus on innovation, Travelers has been an industry leader and first to market in many areas. In its early years, it was the first to offer accident insurance in 1864, offered an auto insurance policy in 1897, and aircraft liability insurance, with a full aviation program in 1919. Later, it offered life insurance to women at a lower rate than men, issued accident policies for the space program in 1969, and started an insurance policy to protect online bankers from fraud in 1997. Most recently, Travelers was the first in the industry to offer a national discount to drivers of hybrid vehicles or partner with Amazon to launch a digital storefront.