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Insurance 101
Travelers is part of the dynamic and ever-changing insurance industry that employs more than 2.3 million people in the United States. Whether or not you have experience in the industry, Travelers values your skills and background. While we offer many positions specific to insurance, it may surprise you that the typical Travelers employee has a non-insurance background.
If you are new to insurance, rest assured that Travelers offers a variety of internal programs and resources to get you up-to-speed. And there’s no better place to learn about the industry than Travelers – the second-largest writer of commercial U.S. property casualty insurance.
Why work in insurance?
Since the 13th century when ship owners began creating contracts to protect themselves against the possibility of losses, insurance has evolved into a challenging and complex industry. Today, there are more than 2,600 property/casualty insurance companies and 1,200 life/health insurance companies in the United States, according to the Insurance Information Institute. These companies account for a portion of the world insurance premiums, which totaled $4.1 trillion in 2007.
Today, the insurance industry covers nearly every imaginable risk – from catastrophes like floods, fires and hurricanes to auto accidents to identity theft. Throughout the industry, including at Travelers, there are constant opportunities to create more innovative insurance products and solutions that better protect customers against these risks.
For more information about the industry, visit the Insurance Information Institute.
Learn more about Travelers
Just as the industry has evolved, so has Travelers. Our company has a rich history, beginning more than 150 years ago. Throughout the years, we have had some of the industry’s most notable milestones and written some of the most interesting policies, including:
- In 1898, Travelers was the first company to insure an automobile insurance policy in the United States. Continuing our focus on innovation, we were one of the first insurers to sell auto insurance on the Internet almost a hundred years later.
- When the Titanic sank in 1912, a number of Travelers customers were onboard. John B. Thayer of Haverford, Pa., vice president of the Pennsylvania Railroad, constituted the largest accident claim on record, receiving $120,000. Other accident insurance claims and life insurance benefits paid totaled $1.2 million.
- In 1919, Travelers issued the first insurance policy on aerial transportation. The first aircraft passenger insured against aerial accidents was President Woodrow Wilson, who was presented an “Aero Ticket” on May 6, 1919, enhancing the company’s reputation as an industry innovator.
- Over the years, Travelers has insured many strange things including: George Washington’s dentures, a shipment of turtles bound for a turtle race, two fossilized dinosaur eggs, Abraham Lincoln’s shawl, a worm farm, the horses of a merry-go-round, the bloodhounds of a state penitentiary and a page from the Gutenberg bible.
- Other company “firsts” include issuing the first accident policies for space flight and lunar exploration, developing the industry’s first catastrophe response vehicles, providing insurance against identity theft and creating the industry’s first national hybrid car insurance product.
Learn more about our company’s history.
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