In an uncertain world, Travelers is an insurance leader, committed to keeping pace with the ever-changing needs of our customers, and anticipating their needs for the future. There is no stronger testament to our dedication to protecting customers from loss than our continued innovation and ability to transform our 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, our history of advancements has propelled our company—and our industry—towards ever higher standards for customers.
Travelers is a company that works hard at the science of what we do: we analyze information, process perspectives and measure results to create the best combination of products and services. We work equally hard at customer service and how we interact with the people whom we do business. Over the years, we've strived to earn our customer's loyalty by continually improving our abilities to listen and respond to their needs.
Today, more than 160 years after our founding, Travelers is one of the nation's largest property casualty companies. A component of the Dow Jones Industrial Average, Travelers has more than 30,000 employees, 13,000 independent agents and multiple market segments across the personal, business, financial and international insurance groups. Travelers has operations in the United States, United Kingdom, Canada, Lloyd's of London, and the Republic of Ireland. In Brazil, the company also has a joint venture partnership with JMalucelli, Brazil's market leader in surety.
Minimizing risk, preventing loss and helping our customers prepare for the unknown, Travelers' comprehensive products, services and support give individuals and businesses the confidence they need to feel secure.
The company has field offices in every U.S. state, plus operations in the United Kingdom, Ireland, Singapore, China, Canada, and Brazil. In 2014, the company reported revenues of US $27 billion and total assets of US $103 billion.
Travelers, through its subsidiaries and approximately 14,000 independent agents and brokers, provides commercial and personal property and casualty insurance products and services to businesses, government units, associations, and individuals. The company offers insurance through three segments:
Personal Insurance, which includes home, auto and other insurance products for individuals
Business Insurance, which includes a broad array of property and casualty insurance and insurance-related services in the United States
Bond and Specialty Insurance, which includes surety, crime, and financial liability businesses which primarily use credit-based underwriting processes, as well as property and casualty products that are predominantly marketed on an international basis.
The State Farm Story began with Mecherle's original vision for State Farm: operate fairly and do the right thing for our customers. While his vision still guides us today, our continued mission is to be the first and best choice in the products and services we provide.
Originally a single line auto insurance company, State Farm now offers nearly 100 products and services, in five different lines of business, to help customers manage today and prepare for tomorrow. We show our commitment to our policyholders by handling nearly 35,000 claims per day. The history of State Farm not only demonstrates we do the right thing for our customers; we do the right thing for communities. We are heavily involved in and support communities through sponsorships, safety programs, education leadership, and service-learning.
Known as a public leader in auto safety efforts, State Farm helped pass a number of seat belt laws and continues to fight for seat belt and teen driver safety.
We work to build safer, stronger, and better educated communities across the United States. We are committed to the future through our green efforts and by helping raise the levels of achievement of our nation's teachers and students.
We help build strong communities by supporting programs that enable home ownership, create safe neighborhoods, and making our homes and highways safe through activities aimed at preventing and reducing injury and loss.
In our schools and communities, online and offline, through statefarm.com® or one of more than 18,000 agent offices, State Farm is there.
Summary:
State Farm is a group of insurance and financial services companies in the United States. In 2014, the company sold its operations in Canada to Desjardins Group, which is continuing to use the State Farm name.
The group's main business is State Farm Mutual Automobile Insurance Company, a mutual insurance firm that also owns the other State Farm companies. The corporate headquarters are in Bloomington, Illinois.
State Farm is ranked 44th in the 2013 Fortune 500, which lists American companies by revenue.
Overview:
As of December 2013 State Farm had 65,000 employees and 18,000 agents. February 2014 figures show the group servicing 80 million policies in the United States and Canada, of which over 44,000,000 are for automobiles, 27,000,000 are for fire, 7,000,000 for life, and more than 2 million bank accounts.
Edward B. Rust, Jr. is the chairman and CEO of State Farm Mutual Automobile Insurance Company, and president and chief executive officer of State Farm Fire and Casualty Company, State Farm Life Insurance Company, and other principal State Farm affiliates.
In 2014, the company sold its operations in Canada to Desjardins Group. Canadian policies were transferred to be underwritten by Desjardins Group on January 1, 2015. The State Farm brand continues to be used for agents and marketing.
Services:
State Farm Safety Patrol – State Farm, in partnership with several U.S. highway authorities, operates a service called the State Farm Safety Patrol which provides free roadside assistance to stranded motorists on participating highways, when you call the designated telephone number for the Safety Patrol they will respond and provide the following services: fuel refills; radiator refills; engine oil refills. Most Safety Patrol personnel are also CPR and Automated External Defibrillator certified. They work to reduce accident rates, minimize the duration time of incidents, assist disabled drivers and remove road debris. Turnpikes which currently participate include, Florida's Turnpike in the State of Florida and the Pennsylvania Turnpike in the Commonwealth of Pennsylvania. In Ohio, State Farm–branded safety patrol vans service major highways in the Cincinnati, Toledo, Cleveland, Columbus, Dayton, Akron, and Canton areas on weekdays
The Progressive Group of Insurance Companies has always lived up to its name by being one step ahead of the insurance industry, and finding new and affordable insurance solutions. We began in 1937 with the first drive-in claims office, became the first to introduce reduced rates for low-risk drivers, and then changed the insurance shopping experience by offering comparison rates on the Web.
Progressive continues to find better ways to serve you with our new and personalized Snapshot® program and our Name Your Price® car insurance shopping option.
The Progressive Corporation is one of the largest providers of car insurance in the United States. The company also insures motorcycles, boats, RVs and commercial vehicles, and provides home insurance through select companies. Progressive has expanded internationally as well, offering car insurance in Australia. The company was co-founded in 1937 by Jack Green and Joseph M. Lewis, and is headquartered in Mayfield Village, Ohio.
Progressive is one of the largest auto insurers in the United States, with over 13 million policies in force, along with State Farm, Allstate, GEICO, Nationwide Insurance, Farmers Insurance Group, and USAA. Progressive primarily offers its services through the Internet or by phone and through independent insurance agents. Progressive's Agency business sells insurance through more than 30,000 independent insurance agencies and progressiveagent.com where customers can quote their own policies and then contact an agent to complete the sale.
In December 2009, Progressive announced it was selling car insurance in Australia. Initially called Progressive Direct, it rebranded as Progressive in 2011.
Drivers plug a device the size of a garage door opener into the on-board diagnostic (OBD) port of their car. The device records and sends the driving data to Progressive, and Progressive uses that information to calculate the rate. After 30 days, customers find out if they’re eligible for a discount based on that 30-day “snapshot” of their driving habits. At the end of a six-month policy period, Progressive calculates the customer’s renewal discount and customers return the device to Progressive. The company doesn’t take into account how fast the car goes although it does take into account how fast and frequently the vehicle operator brakes. Snapshot is voluntary and customers can opt out at any time. The customer is charged up to $50.00 if they do not return the snapshot device to Progressive should they decide not to engage in the program after receiving it.
Snapshot is currently available in 45 states plus the District of Columbia. Because insurance is regulated at the state level, Snapshot is currently not available in Alaska, California, Hawaii, and North Carolina. Most recently, Snapshot became available in Indiana in May 2015.
Nationwide Mutual Insurance Company & Affiliated Companies is a group of large U.S. insurance and financial services companies based in Columbus, OH. The company also operates regional headquarters in Des Moines, IA; San Antonio, TX; Gainesville, FL; Lynchburg, VA; Raleigh, NC; and Westerville, OH.
Nationwide Financial Services (NFS), a component of the group, was partially floated on the New York Stock Exchange prior to being repurchased by Nationwide Mutual in 2009. It had owned the majority of NFS common stock since it had gone public in 1997.
Also in 1934, Farm Bureau Mutual began offering fire insurance. This product grew the following year with the purchase of a struggling fire insurance company. With growth came a need for expansion of office space. In 1936, the company moved to the famous 246 Building at 246 N. High Street in Columbus. By 1943, Farm Bureau Mutual operated in 12 states and the District of Columbia. Even with the tripling of space in the 246 Building (which was finally dedicated on the 25th anniversary of the company), Farm Bureau Mutual still had insufficient office space, and began opening regional offices in 1951.
In 1955, Farm Bureau Mutual changed its name to Nationwide Insurance, a name by which it is commonly known today. In the 10 years that followed, Nationwide expanded into Oregon, making the company truly "nationwide". It also expanded into 19 other states, bringing the total by 1965 to 32 states and the District of Columbia.
Nationwide outgrew the 246 Building by the 1970s and work began on a new skyscraper headquarters for the company. In 1978, One Nationwide Plaza was completed at the southwest corner of N. High Street and Nationwide Blvd. on the northern edge of downtown Columbus, Ohio. Since 1988, Nationwide has added the following to its presence in Downtown Columbus: Plaza Two (on the northeast corner of High Street and Chestnut), Plaza Three (just west of High Street and Chestnut), Plaza Four (Front Street), 275 Marconi (behind Plazas One and Three on Marconi Blvd), and 10 West Nationwide, which together with Plaza One form the primary downtown complex. In addition to downtown Columbus, Nationwide also has a significant presence in the Columbus, Ohio metropolitan suburbs of Dublin and Grove City.
Nationwide currently has approximately 31,000 employees, and is ranked #91 in the most recent Fortune 500. Nationwide is currently ranked #85 in Fortune's "100 Best Companies to Work For".
Since 2004, Nationwide has continuously received a 100% rating each year on the Corporate Equality Index, which is released by the gay rights activist group Human Rights Campaign. Nationwide includes "sexual orientation" and "gender identity" in its equal employment opportunity policy, and provides diversity training to its employees on sexual orientation.
In 2008 Nationwide entered into an exclusive partnership with Tavis Smiley, including sponsorship of Smiley’s PBS television program as a provider of property and casualty insurance products. The sponsorship of the television program ended in 2011, but the partnership continues for other events and initiatives.
Nationwide was also a national sponsor of the 2009 State of the Black Union event.
Liberty Mutual Group, more commonly known by the name of its primary line of business, Liberty Mutual Insurance, is an American diversified global insurer, and the second-largest property and casualty insurer in the United States. It ranks 76th on the Fortune 100 list of largest corporations in the United States based on 2013 revenue. Based in Boston, Massachusetts, it employs over 50,000 people in more than 900 locations throughout the world. As of December 31, 2013, Liberty Mutual Insurance had $121.2 billion in consolidated assets, $102.2 billion in consolidated liabilities, and $38.5 billion in annual consolidated revenue. The company, founded in 1912, offers a wide range of insurance products and services, including personal automobile, homeowners, workers' compensation, commercial multiple peril, commercial automobile, general liability, global specialty, group disability, fire and surety.
Liberty Mutual Group owns, wholly or in part, local insurance companies in Argentina, Brazil, Chile, China (including Hong Kong), Colombia, Ecuador, India, Ireland, Poland, Portugal, Russia, Singapore, Spain, Thailand, Turkey, the United Kingdom, Venezuela and Vietnam.
In the United States, Liberty Mutual remains a mutual company where policyholders holding contracts for insurance are considered shareholders in the company. However, Liberty Mutual Group's brand usually operates as a separate entity outside the United States. In other countries, subsidiaries are often created in countries where legally recognized mutual company benefits cannot be enjoyed.
Not all car insurance is the same. Sure, there is a minimum level of coverage that all auto insurance companies offer – liability coverage for example - but there are also additional types of coverage that you can include on your policy to add an extra level of protection. Let's cut through the jargon and walk through some of the more popular coverage options.
Superior Protection
Liberty Mutual goes above and beyond to make sure you're protected. From coverage like New Car Replacement, which is included on all car insurance policies, to Unlimited3 Rental Coverage, which you can choose to add to your policy whenever you'd like, we want to make sure you're confident in the coverage you choose.
New Car Replacement
It's said that a car starts depreciating the minute you drive off the lot. But with New Car Replacement, if your new car is totaled in the first year and within the first 15,000 miles, you'll get the money for a brand new car – not just the depreciated value.1 Learn more about New Car Replacement.
Better Car Replacement
Even if your car is no longer new, you can still treat it like it is. With this optional coverage, if your car is totaled we'll give you the money to replace it with a car that is one model year newer and has 15,000 fewer miles on it.2 Learn more about Better Car Replacement.
Unlimited Rental Coverage
If you are ever in an accident, you can rely on our optional Unlimited Rental Coverage to pay your rental costs for as long as it takes to fix your car, when you choose to have your car repaired at a Liberty Mutual-approved repair facility.3
Deductible Fund
This optional policy add-on can help lower your collision deductible and reduce the money you pay out-of-pocket in the event of a claim. When you add the Deductible Fund to your policy, Liberty Mutual will immediately put $100 into the fund to get it started.
Teachers Auto Insurance
If you're a teacher, you can get additional coverage to protect your vehicle and any teaching tools inside the car whether they're personally owned or were bought by your school – as long as they're in the car for school-related business.1 Learn more about Teachers Auto Insurance.
The Government Employees Insurance Company is an auto insurance company headquartered in Chevy Chase, Maryland. It is the second largest auto insurer in the United States, after State Farm. It is a wholly owned subsidiary of Berkshire Hathaway that as of 2014 provided coverage for more than 22 million motor vehicles owned by more than 13 million policy holders. GEICO writes private passenger automobile insurance in all 50 U.S. states and the District of Columbia. GEICO uses a direct-to-consumer sales model. Its mascot is a Gold dust day gecko with a Cockney accent, voiced by English actor Jake Wood. GEICO is well known in popular culture for its advertising, having made a large number of commercials intended to amuse viewers.
History
GEICO was founded in 1936 by Leo Goodwin, Sr. and his wife Lillian to provide auto insurance directly to federal government employees and their families. Since 1925, Goodwin had worked for USAA, an insurer which specialized in insuring only military personnel; he decided to start his own company after rising as far as a civilian could go in USAA's military-dominated hierarchy. Based on Goodwin's experience at USAA, GEICO's original business model was predicated on the assumption that federal employees as a group would constitute a less risky and more financially stable pool of insureds, as opposed to the general public. Despite the presence of the word "government" in its name, GEICO has always been a private corporation not affiliated with any government organization.
In 1937, the Goodwins relocated GEICO from San Antonio, Texas to Washington, D.C. and reincorporated the company as a D.C. corporation after realizing that their business model would work best in the place with the highest concentration of federal employees.
An important figure in GEICO's history is David Lloyd Kreeger, who became president of the company in 1964 and helped steer it into a major insurance enterprise. In 1948, he formed a group of investors who bought into GEICO right before it went public that year. He became senior vice president and general counsel of the company. Six years after becoming president of GEICO in 1964, he was named chairman and chief executive officer. He retained those titles until he retired in 1975. He continued as chairman of the executive committee until 1979, when he was named honorary chairman.
In 1974, under Kreeger's leadership, GEICO began to insure the general public, after real-time access to computerized driving records became available throughout the United States, and it was briefly the fifth-largest U.S. auto insurer. By 1975, it was clear that GEICO had expanded far too rapidly (during the 1973–75 recession) when it reported a $126.5 million loss.[6] To prevent GEICO from collapsing, a consortium of 45 insurance companies agreed to take over a quarter of its policies, and it was forced to issue a stock offering (thus diluting existing stockholders) to raise money to pay claims. It took five years (during which the company shrank significantly) and a massive reorganization to set GEICO on the path to recovery.
GEICO has also offered other types of insurance besides auto, including homeowner's insurance from 1962 to 1996. A sister company, the Government Employees Life Insurance Company (GELICO), offered life insurance from 1975 to 1985. Although GEICO has since focused on its core auto insurance competency (selling GELICO to Legal & General), it uses its established direct sales infrastructure to market homeowner's and other types of insurance underwritten by other companies.
In 1996, after many years as a publicly traded firm, GEICO became a wholly owned subsidiary of Berkshire Hathaway.
GEICO generally deals directly with consumers via telephone and internet; however, the local agent program has more than 150 offices countrywide. GEICO is now the second largest writer of private auto insurance in the United States.
After several years of denying claims and even canceling policies for policyholders that used their personal car for ridesharing companies such as Uber and Lyft, GEICO began offering rideshare coverage in select states in 2015, including in high-population states such as Texas, Pennsylvania, Ohio, and Georgia. The policy, which is issued through GEICO's commercial department, has received critical praise from insurance experts and quickly launched GEICO as the largest insurance provider for TNC drivers.
