Travelers was founded in 1864 in Hartford, Connecticut, when businessman James G. Batterson and banker James E. Bolter decided to pair up as business partners. It began as an accident insurance company when Baker, as a joke, asked Bolter how much it would cost to insure him for $5,000 in the case of his accidental death walking from the post office to his home.
The first concept of accident insurance would later evolve into the company offering several types of insurance coverage, including liability insurance for employers (workers’ compensation), aircraft liability, and accident policies for spaceflight and exploration. In addition,
Travelers was the first company to offer automobile insurance in 1897.
Besides being the first insurance company to offer auto insurance, this company was also the first to do the following:
- 1971: Travelers revealed a toll-free number for customers and the general public to call for any insurance-related questions or concerns.
- 2006: Travelers became the first company to offer a discount to customers with hybrid vehicles on their policies.
- 2019: Travelers offered customers access to digital claims payments through PayPal.