Travelers Publishes Its 2020 Sustainability Report

The Travelers Companies, Inc. (NYSE: TRV) today published its annual Sustainability Report, which outlines the company’s multifaceted strategy for creating shareholder value over time and highlights its 2020 environmental, social and governance (ESG) initiatives.

“We take a holistic approach to sustained value creation, understanding that our long-term success depends not only on our business strategy and competitive advantages but also on keeping our promise to be there for our customers, communities and employees,” said Yafit Cohn, Chief Sustainability Officer at Travelers. “This year’s report showcases the ways that we delivered on that promise and raised the bar in terms of taking care of all our stakeholders during a globally challenging time.”

The report provides an in-depth review of the 16 topics that Travelers has identified as its key drivers of sustained value: Business Strategy & Competitive Advantages, Capital & Risk Management, Climate Strategy, Community, Customer Experience, Data Privacy & Cybersecurity, Disaster Preparedness & Response, Diversity & Inclusion, Eco-Efficient Operations, Ethics & Values, Governance Practices, Human Capital Management, Innovation, Investment Management, Public Policy and Safety & Health.

Highlights from the company’s 2020 report include:

Climate Strategy

• The company grew gross written premiums in its Global Renewable Energy Practice by nearly 40% year over year and expanded its international footprint for onshore and offshore wind and solar operations throughout Asia, Canada, Europe, Mexico and the United Kingdom with its unique coverages written through Travelers Lloyd’s Syndicate 5000.

Community

• The company contributed nearly $23 million to important causes, including improving academic and career success, developing thriving neighborhoods, creating culturally enriched communities, helping areas hardest hit by the pandemic and advancing racial equity across the United States.

Customer Experience

• Travelers resolved more than 90% of property claims arising out of catastrophe events within 30 days of receiving the claim notice. This result was achieved despite a record number of catastrophe events and a more than 50% increase in catastrophe claim volume as compared to the prior year.
• The company adjusted its claim inspection processes to rely more heavily on state-of-the-art digital and virtual capabilities, handling 40% more auto appraisals and wind/hail claims and 70% more water claims virtually as compared to pre-pandemic levels. The increased use of these capabilities resulted in a better and safer experience for customers and Claim professionals, and a more efficient outcome for the company.

Diversity & Inclusion