Travelers Insurance

Property owners and real estate companies are able to handle larger portfolios while offering faster and cheaper services.

Residential PropTech

Hover offers a mobile app that allows homeowners to capture photos with their smartphones which can be transformed into fully-interactive 3D models which can be used to measure, design, and estimate projects while providing professionals with detailed information. The platform also provides insurance professionals' claim cycle workflows with up-to-date photos and detailed property measurements to create accurate claim estimates.In February 2024, Hover added new automated features to its app to streamline project management for contractors. The updates include Material Lists, Checklists, and Job Invites. Material Lists quickly generate order-ready lists with customizable templates, Checklists help document and communicate project details, and Job Invites enhance collaboration among professionals and homeowners.

Simplifying the insurance experience for businesses using technology

InsurTech: Commercial Lines

<div>
 
 Toronto-based Zensurance is an online commercial insurance brokerage. The company provides a digital platform that enables small business owners, entrepreneurs, self-employed professionals, and independent contractors across various industries to purchase specialized insurance coverage within a few minutes. Zensurance's technology leverages data analytics to assess risks based on customer inputs and provide personalized insurance quotes from its network of over 50 insurance providers. The company claims it offers premium savings of up to 35% compared to traditional brokers.&nbsp;
 
 
 Zensurance offers a wide range of business insurance products, including commercial general liability, professional liability, cyber liability, commercial property, commercial auto, and fleet vehicle insurance.&nbsp;
 
 
 In February 2023, Zensurance expanded its commercial auto and fleet vehicle insurance options to Atlantic Canada, enabling businesses in that region to obtain affordable coverage online.
 
 
 
 
 Key customers and partnerships&nbsp;
 
 
 As of May 2024, the company served over 300,000 businesses.&nbsp;
 
 
 In August 2018, The Travelers Company, the third-largest corporate insurance underwriter in the US, acquired a 60% stake in Zensurance. This partnership allowed Zensurance to potentially scale its operations beyond Canada.&nbsp;
 
</div>

Taking commercial activities to new heights

Commercial Drone Tech

Aloft Technologies is a leading provider of drone fleet management and airspace management solutions. Founded in 2015, the company has developed a patented dynamic airspace platform, which is an integral part of its Unmanned Traffic Management (UTM) system. Aloft's UTM system has powered over 1 million airspace authorizations to date. The company's core offering is the Air Control platform, a centralized system for managing drone operations, pilots, assets, and ensuring compliance with regulations. Key features include real-time live video streaming, airspace authorization through LAANC (Low Altitude Authorization and Notification Capability), and advanced UTM capabilities. Aloft's solutions cater to a diverse user base spanning recreational, commercial, government, law enforcement, and advanced air mobility sectors. In March 2024, Terra Drone Corporation, a Japanese drone and Advanced Air Mobility (AAM) technology provider, invested in Aloft, making it the largest shareholder and marking Aloft's entry into the US market.
Key customers and partnerships
Aloft has formed strategic partnerships with various industry leaders to enhance its offerings and expand its reach. In April 2024, Aloft announced a collaboration with Anzu Robotics to launch the Raptor drone series, integrating Aloft's Air Control platform natively into the drones. This partnership aims to provide secure, compliant drone operations for industries such as inspection and public safety. Additionally, Aloft joined forces with Skydio in April 2024 to integrate live UTM telemetry, enabling real-time tracking of Skydio drones within Aloft's airspace maps and applications. This integration is expected to pave the way for advanced UTM solutions supporting thousands of drones flying simultaneously in US skies.
In April 2024, Aloft, Terra Drone, and Unifly, a Belgium-based UTM provider, launched a joint development initiative focused on UTM for Advanced Air Mobility (AAM) targeting global markets. This collaboration marks the world's first joint UTM development for AAMs by multiple companies with extensive track records in UTM implementation and operation.
Aloft has also partnered with the Federal Aviation Administration (FAA), powering the agency's official airspace safety app, B4UFLY, which allows drone operators to check airspace advisories before flights.

College Possible provides coaching, admission, and support to students from low-income backgrounds.

LiveEasy is a concierge platform that offers full-service, white-labeled, no-code solutions for moving and home services.

Fidelis Insurance is a property and casualty (re)insurance start up. The  company offering effective, bespoke coverage within specialist lines providing significant capacity with a strong balance sheet.

Hover is making the homeowner journey easy, transparent and fun. Starting with the home improvement industry,  we’re answering age-old questions like, “What is it going to look like?” and “What is it going to cost?”, by helping homeowners and pros visualize what’s possible with Artificial Intelligence (AI) and interactive 3D property models. Homeowners, contractors, and insurance professionals all use Hover to get fully measured, accurate, and interactive models of any property—in a matter of minutes, and with just a few snaps of a smartphone camera.

Zensurance leading the technology revolution in the insurance industry, and demystifying insurance for start-ups and small businesses.  The company uses data and analytics to identify the most common risks so the company can able to create curated insurance packages ideally suited for each industry. Small business owners no longer have to wade through endless forms and play phone-tag. They can learn about all their needs and purchase at their own convenience within minutes online.  Zensurance works with the leading insurance companies and industry experts to build the most cutting edge insurance solution. Leveraging the latest innovations in user-experience design, and analytics.

In short, Pineapple see the traditional insurance model, user journey and products as lacking and set out to remedy these by doing the following: 1) Changing the business model to align incentives, show people how premiums are used and award members leftover premium back 2) Making insuring as easy as snapping a picture where AI does the rest and cover is issued in under 60 seconds 3) Allowing per-item insurance and new product innovation to address cover not currently offered or accessible to many Pineapple launched in South Africa in 2018 with their ''My Stuff'' per-item insurance and have since launched their auto offering ''My Ride''. They have also partnered with Travelers in the US and have white-labeled their platform in the US.

Aloft unifies the mission, aircraft, and data to make drone operations safe and reliable. Aloft streamlines the disconnected collection of tools and technologies into a unified drone operation that makes flight safer and more valuable. They offer a full stack solution with web tools, API integrations, custom webhooks, and support services to get you up and running fast

Team Rubicon is a non-government organization providing disaster relief between the moment a disaster happens and the point at which conventional aid organizations respond. It unites the skills and experiences of military veterans with first responders to rapidly deploy emergency response teams.  On January, 2010, despite government and large aid organization's advice not to proceed, Team Rubicon members crossed the Artibonite River separating the Dominican Republic and Haiti, carrying crucial gear and medical supplies to the people of Port-au-Prince.  Team Rubicon provides its veterans with three things they lose after leaving the military: a purpose, gained through disaster relief; community, built by serving with others; and self-worth, from recognizing the impact one individual can make.  Team Rubicon was founded in 2010 by [William McNulty](https://www.crunchbase.com/person/william-mcnulty) and [Jacob Wood](https://www.crunchbase.com/person/jacob-wood). It is based in El Segundo, C.A.

Pricelock’s online platform provides buyers and sellers an easy and efficient way to transact energy and energy-related products. Pricelock’s mission is to provide liquidity for products and services that cannot be traded on an exchange. It also offers risk management services and an employee incentive product.  Pricelock’s investors include Goldman Sachs, Barclays, Traveler’s Insurance, RenaissanceRe, and Artiman Ventures. To learn more about Pricelock, please visit www.pricelock.com.

Solbright is a powerful revenue operations and workflow platform that leading digital media companies trust to maximize revenue and achieve better ROI. The Solbright Solution is comprised of product modules â€“ adSales, adTraffic, adBilling, adInventory, adReport.

Travelers is an insurance leader, committed to keeping pace with the ever-changing needs of their customers and anticipating their needs for the future. There is no stronger testament to their dedication to protecting customers from loss than their continued innovation and ability to transform their industry. In fact, from the first-ever auto and space travel policies and hybrid car discount, to the 2009 founding of The Travelers Institute for public policy, their history of advancements has propelled their company—and their industry—towards ever higher standards for customers. Travelers is a company that works hard at the science of what they do: they analyze information, process perspectives and measure results to create the best combination of products and services. They work equally hard at customer service and how they interact with the people whom they do business. Over the years, they've strived to earn their customer's loyalty by continually improving their abilities to listen and respond to their needs.

<div> The Travelers Companies, Inc. (NYSE: TRV) is a leading provider of property and casualty insurance products and services to individuals, businesses, and organizations. Founded in 1864, Travelers has a long history of innovation in the insurance industry, introducing the first automobile policy in 1897 and pioneering accident insurance in the US. Travelers offers a wide range of insurance products and services, including: <ul> <li> Auto insurance </li> <li> Homeowners insurance </li> <li> Renters insurance </li> <li> Condo insurance </li> <li> Boat and yacht insurance </li> <li> Business insurance </li> <li> Umbrella insurance </li> <li> Wedding and event insurance </li> <li> Travel insurance </li> </ul> The company also provides specialty insurance products like flood insurance through partnerships. Travelers is known for offering customizable policies with various optional coverages and add-ons to meet individual customer needs. As of December 2023, Travelers reported annual revenue of USD 32 billion. The company employs over 30,000 people and has a network of approximately 13,500 independent agents and brokers. Travelers has operations in the US, Canada, UK and Ireland. The company is headquartered in New York City, with significant operations in Hartford, Connecticut. Travelers consistently ranks among the top 10 property and casualty insurers in the US by market share and premium volume. </div>

Travelers Insurance raising California rates 15% for homeowners

InsurTech: Infrastructure

Providers of general, yet comprehensive, end-to-end solutions for insurance companies, covering various aspects of their operations. This includes core systems for policy administration, underwriting, claims processing, billing, and customer relationship management

Specialized platforms that offer lead generation and management services and tools for insurance providers. Tools can include telemarketing, internet, and social media lead generation, referrals, and lead analytics

Underwriting platforms that evaluate risks related to life insurance, health insurance, and related products such as disability and critical illness coverage. They may utilize medical underwriting criteria, genetic information, lifestyle factors, and demographic data to assess applicants' insurability

Platforms that specialize in assessing risks associated with property and casualty insurance, including home, auto, commercial property, and liability coverage. They may incorporate data sources such as property valuations, historical claims data, telematics, and weather patterns to evaluate risk factors accurately

Specialized platforms that streamline and automate claims processing workflows, from initial claim submission to settlement. They may offer software for claims intake, adjudication, fraud detection, and communication with policyholders and third-party service providers

Policy administration systems that focus on managing policy lifecycle activities, including policy issuance, endorsements, renewals, and cancellations. They provide insurers with tools to configure and manage policy rules, coverage options, and premium calculations. Platforms can also have additional functions for commission and performance tracking

Reinsurance technology providers offer a range of innovative tools and services to support reinsurers in managing their operations, assessing risks, and optimizing their reinsurance strategies. These solutions may include advanced analytics, catastrophe modeling, risk assessment tools, portfolio management systems, and underwriting platforms specifically designed for the reinsurance industry

The latest line of defense against rising cyber attacks

Cyber Insurance

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INCUMBENTS_PRESENT

Insurance group Travelers will acquire cyber insurance managing general underwriter (MGU) Corvus for approximately USD 435 million. The acquisition is expected to close in Q1 2024, pending regulatory approvals. Corvus' cyber expertise will be integrated into Travelers' own offerings to improve its cyber insurance capabilities, including advanced underwriting algorithms, vulnerability scanning tools, risk mitigation, and digital connectivity. Travelers is a property and casualty insurer that provides auto, home, and business insurance globally. The company already offers cyber capacity for Corvus products in the US and Europe and considers this acquisition as part of its broader investment strategy.

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