Travelers Insurance is a publicly traded company, meaning it is owned by its shareholders and does not have a parent company. It was founded in 1864 when Hartford businessman James G. Batterson met with a local banker, James E. Bolter.
Bolter had heard that Batterson and his neighbors were organizing a company to introduce accident insurance to the United States. When looking for the right insurer and the best value for your policy, you want to find one that meets all your needs, provides excellent service, maintains financial stability, and is there when you need it. Travelers Insurance has been around for over 165 years and offers coverage for a wide range of insurance needs. It is the second-largest property and casualty insurer in the US.
At the time of its founding, modes of travel such as trains and boats were considered very risky, and many insurers refused to insure those who used them. The company's iconic logo was first introduced in 1870 and has been kept throughout the years despite mergers and changes. Travelers Insurance also offers a mobile app which can be found on the App Store for iOS users. Plan holders can use the app to schedule payments, check claim status, file a claim, obtain documents, review plan options, and request roadside assistance.
The company's financial strength ratings show that it is a stable and reliable company that will be around for many years to come. A. M. Best gives Travelers an “A” rating, Fitch gives it an “AA” rating, Moody's gives it an “Aa2” rating, and Standard & Poor's gives it an “AA” rating.
The Better Business Bureau (BBB) also gives Travelers an “A” rating with 418 closed complaints over a three-year period; most of these complaints were related to products, services, and billing. Citigroup's decision to sell Travelers highlights the difficulties banks face when trying to cross-sell banking and insurance products.