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Information Systems at Travelers Insurance

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Information Systems at Travelers Insurance Executive Summary
Management information systems allow a company to effectively manage their operations through the use of technology, people, and information.10 Travelers Insurance utilizes this system to manage its operations throughout the world. It has allowed the company to offer its customers many policy options and services. Without Travelers management information system, consumers would have been unable to enjoy the services offered by this expansive company. Through the use of management information systems, Travelers Insurance is able to provide its customers with the products and services they desire and their employees with the information they need.
Introduction to Travelers
Travelers Insurance is one of the largest holders of insurance policies in the country. As a Fortune 500 company, it is a business that is substantial to the U.S. economy. With an excellent information system, the company is able to maintain a large presence.
What is Travelers Insurance?
Travelers Insurance is one of the largest insurance companies in the nation. In 1864, the company developed in Hartford, Connecticut by James G. Batterson. Initially, the company sold life and accident insurance, but it has since broadened its products to include property, life, health, and several business policies among the other numerous products offered.1 The mission statement is stated from Company Statements and Slogans.
“Travelers offers a wide variety of property and casualty insurance and surety products and services to businesses, organizations, and individuals in the United States and in selected international markets. In addition, the company can meet insurance needs in more than 90 countries worldwide through our network of insurers. Products are distributed primarily through independent insurance agents and brokers. Our success is built upon our ability to provide innovative insurance and risk protection products and services in-sync with our customers’ needs.” Travelers’ mission statement describes the wide variety of products and services sold globally that strive to meet the needs of its customers. In order to maintain a high level of success, Travelers has to make their products and services available to customers around the globe. The company achieves solves this dilemma in several ways. First, Travelers operates offices across the U.S., Canada, the United Kingdom, and Ireland. Second, it provides it products through subsidiaries. Independent insurance agencies are capable of selling and maintaining insurance policies. By operating offices and establishing relationships with independent insurance agencies, Travelers can ensure that its products and services can be provided in numerous locations. Third, the company maintains a site where customers can purchase policies.7 This allows consumers who do not live near a Travelers office or subsidiary or prefer the convenience of shopping online. Through the use of subsidiaries and an online site, Travelers is able to reduce overhead making the two the preferred choices to help generate greater profits. Because of its advanced information system, the company is able to combine all three areas to operate in unison across the globe.
Major Products and Services
With a broad product range, Travelers is able to offer consumers policies to suit almost any need. Policies fall into one of three segments: Personal Insurance, Business Insurance, or Financial, Professional, and International Insurance. Personal Insurance includes home, auto, boat, and flood. It insures property and casualty for individuals. Business Insurance covers small businesses to large locations. The policies are designed for each particular market and industry. The Financial, Professional, and International segment provides surety to U.S. based business, management liability, professional liability, and crime coverage to both U.S. and international businesses, and property and casualty insurance to international businesses.
Along with products, numerous services are provided to the company’s customers. Customers receive discounted rates for American Appraisal services. American Appraisal reviews insurance policies to ensure that consumers are properly insured. Also, Travelers maintains alliances with several safety vendors. The services provided by these vendors assist customers in loss control strategies and programs and are available complimentary or at a discounted price. Additionally, the company offers resources that help its customers prepare for disasters.
Not only does Travelers provide its customers with the tools and resources to prepare for a disaster, but also it helps them to plan for a recovery process afterwards. Another very important issue the company aids in is safety. It offers webinars, workshops, and online training to assist its customers in risk management. Professionals of safety and risk management provide information to help establish a risk management program. Also, the company offers a couple consulting services. First, ergonomic consulting improves the ergonomics of businesses by identifying and reducing ergonomic risk factors. The goal of this service is to prevent musculoskeletal disorders. Second, industrial hygiene consulting is designed to prevent occupational diseases to conserve costs and save lives.7 These complimentary and discounted services help to improve the quality of the products offered.
Information Systems Used by Travelers
Due to the Internet, many businesses have seen growth because of their sites that allow consumers to shop for products without ever leaving their homes. Travelers Insurance does not differ from theses companies. Its site allows its customers to get a quote, file a claim, or pay a bill. Requesting a quote only take a few easy steps. Customers can receive a quote by simply selecting the desired policy and inputting your information. Travelers makes reporting a claim almost as easy. The filer has the option of calling the provided claims number or reporting online. The site provides a section for “Commonly Asked Reporting Questions” to make reporting an easy experience, as well. Although the consumer can pay through the mail or by phone, they can pay online or with automatic payments, too. Creating an account allows the customer to input their payment method and information. Also, the customer can set their account to make automatic payments. By providing credit card or bank or checking account information, Travelers will automatically charge or withdrawal the designated amount. With automatic payments, there is no need to worry about missing a payment or reentering your payment information.
Besides customers, the information system used by Travelers Insurance is useful for the independent agencies that sell the company’s policies. All of data of customer’s information is stored in Travelers’ system. Using a profile, an agent can log into the company’s site to access its database. There, an agent can view or create policies or pay bills for the customers. The site offers many opportunities for an agent to gain knowledge and training in insurance, too. Also, the site provides support to help answer difficult questions. To aid sales, tools are provided to give better information on the products and to promote sales. An independent agency can request billboards, signs, and advertisements that promote both the agency and Travelers.7
The Travers’ site is useful to both customers and agents. It allows customer to take care of their insurance with ease and convenience and agents to access the information they need to serve their customers.
Alliances
To provide a better service to its customers, Travelers Insurance teamed up with several companies to help run and protect their businesses. These safety vendors include LoJack, IntelliCorp, and MSDSonline. All the companies that Travelers has allied with are there to establish a plan to prevent and recover from a disaster.5
LoJack
LoJack is a vehicle theft recovery system aimed at preventing the theft of vehicles. If the vehicle is stolen, LoJack is able to track and retrieve the vehicle within a few hours.4 With an agreement with Travelers, customers are eligible for a discount up to twenty-five percent off of LoJack’s services. The company allows Travelers’ customers who transport cargoes of high-value and high-risk to purchase, rent, or lease LoJack SCI InTransit. LoJack SCI InTransit is LoJack’s Supply Chain Integrity’s cargo tracking, monitoring, and recovery solution. The solution features GPS, Assisted GPS, Cellular, and Radio Frequency technology. This allows for the most advanced tracking, monitoring, and recovery of vehicles. The service is completely optional and does not affect the premium of the customer’s policy in any way.7 LoJack provides a useful service to trucking companies or other businesses that wish to protect their cargoes.
IntelliCorp Records
Through IntelliCorp Records, Travelers Insurance helps its customers reduce risk and litigation by avoiding costly hiring and recruiting mistakes.8 Intellicorp Records provides background checks and hiring and screening products. The company provides drug testing products and verifies employment and education and checks criminal, credit, and motor vehicle records.7 Intellicorp Records describes the vast number of records and the quality of the data it provides.
“Intellicorp is the architect of the country’s most complete and reliable data repository of nationwide criminal records, and other public information. Our criminal records database alone contains more than 290 million records. And Intellicorp has a strict quality assurance and data management program to ensure integrity and frequency of data updates.”2 IntelliCorp Records provides these reliable and quality records by numerous sources, including Administrative Office of the Courts (AOC), Department of Corrections (DOC), and Sex Offender Register (SOR).2 The company uses sophisticated technology to provide accurate data. The company uses fuzzy-logic searching and IntelliSearch smart recommendation model to ensure that nothing is overlooked.
Fuzzy-logic searching evaluates every search placed and scores the accuracy of each result. Then, the results are organized by score from highest to lowest. This technology allows the search to be refined by various categories, such as geographic coverage, address history, Social Security numbers, and dates of birth.
IntelliSearch smart recommendation model is technology created by IntellCorp Records. The technology allows a search to access billions of records, including name, address and Social Security, to locate every place an individual may have lived. Also, it advises where the most updated records can be found, and the technology suggests searches that lead to more accurate information for performing thorough background checks.9
IntelliCorp works to provide the most reliable and accurate records for thorough background checks. The company provides billions of records through numerous databases that can efficiently searched through by the use of sophisticated technology. Travelers Insurance customers can utilize this service at a reduced rate to ensure their potential employees are not costly mistakes.
MSDSonline
Travelers Insurance tries to help businesses to control risk by providing access to MSDSonline. MSDSonline is the leads the industry in online Material Safety Datasheets. The company maintains a database of over 3.5 million data hazard sheets.7 The company focuses to help all businesses improve the management of their chemical products and material safety data sheets. Many companies still use paper-based MSDS management systems that are inadequate.6 MSDSonline explains what a material safety data sheet is and its importance.
“A material safety data sheet is a required document that contains information for the safe handling, use, storage, and disposal of potentially hazardous chemicals.”6 These important and required documents list information that keeps people safe when handling hazardous chemicals. Many global agencies require material safety data sheets on all potentially dangerous substances to ensure the safety of workers in areas, such as manufacturing, distributing, and transporting, and who deal with hazardous chemicals on a daily basis. The United Nations (UN), European Union (EU), Health Canada, United States Environment Protection Agency (EPA), and Occupational Safety and Health Administration (OSHA) are a few of the agencies that require material safety data sheets.6 These documents are so important to safety of personnel that they are required by many agencies globally. Without these documents, many individuals would be exposed to risk.
MSDSonline allows these documents to be conveniently accessed online. There are several benefits to storing material safety data sheets online. First, it allows the documents to remain updated, unlike paper-based material safety data sheets that cannot be updated but must be replaced. Second, companies do not need to store numerous documents that must be manually searched through later. With online storage, physical storage space is conserved, and users can search for the correct document quickly and easily. Last, eliminating paper-based material safety data sheets allows companies to take a greener approach.
Besides online access, companies can request material safety data sheets via fax services. MSDSonline’s automated fax technology retrieves documents from the company’s MSDSonline Account when accessed. The service acts like a backup service. If the document cannot be found in the company’s library, a specialist will locate the document and fax it to the company.6
Another way a company can access material safety data sheets is through MSDSonline’s toll-free hotline. The number can be called 24 hours a day, 365 days a year. Employees can access safety information or talk to a specialist, such as nurses, emergency technicians, toxicologists, paramedics, and pharmacists. Theses specialists can provide chemical exposure support if needed.6 These services ensure that safety information is always accessible.
MSDSonline is a leading provider of material safety data sheets. Travelers offers their services to its customers as a way to reduce risk. These services can be accessed online, through fax, or by calling the toll-free hotline. With MSDSonline, a company is always able to access any safety information. They may utilize material safety data sheets or one of the many specialists available.
Travelers Industrial Hygiene Laboratory
Travelers Insurance obsession with risk management has extended to the creation of the Travelers Industrial Hygiene Laboratory. The laboratory specializes solely on industrial hygiene analysis. This allows Travelers to stay on top of the ever-changing hygiene issues in the industrial environment. Travelers’ goal is to provide their customers with the best tools to evaluate the health of their employees. The company strives to help both companies that are new to the safety profession and companies that are more experienced.7 No matter the company, Travelers is focused on providing the best aid to improve employees’ health.
To achieve reliable analysis results, Travelers Industrial Hygiene Laboratory uses sophisticated instruments. This allows the results to be reliable even when detection limits are low. Numerous samples can be analyzed, including metals, acids, aldehydes, volatile organic compounds, and unknowns. Also, Travelers makes it easy to obtain sampling equipment. It allows free pump loans and equipment to be rented at a reasonable rate.7 Travelers Insurance ensures that chemical analysis results are accurate and that companies can afford the proper equipment to test the occupational health of their company.
Besides providing equipment for occupational health analysis, customers can receive instructions on the proper use of the equipment and how to read the results. Customers can find instructional video online and can attend complimentary seminars and webinars.7 They can learn at their own pace and convenience with the resources provided. If customers have difficulties conducting tests and interpreting results, they can contact a highly trained specialist. The specialist will conduct tests and help to create a plan to monitor and control exposures.7 Consulting services are another method Travelers uses to assist their customers.
Risk Management Education and Training
At Travelers, risk management is a reoccurring topic. Many of the services provided are designed to reduce risk for businesses. One of the main ways Travelers reduces risk is through education and training. Many resources are offered to instruct their customers on proper ways to eliminate risk and plan for the recovery if a disaster occurs. The training resources offered by Travelers are webinars, classroom training, multi-media training, and online training.7 By offering several resources, companies can be trained at their convenience without the need to leave the site.
Conclusion
Being one of the largest insurance companies in the nation, Travelers Insurance sells a wide variety of products and services globally. Through the use of their website, Travelers is able to maintain an expansive database that allows customers to interact with the company directly and their subsidiaries to access files without the need for software or expensive servers. Also, the alliances Travelers has developed with numerous companies has expanded the services that their customers can receive. A major goal of Travelers is to reduce risk, which it achieves by teaching its customers and helping them to plan to reduce risk and recover from a disaster.

References
1. CitiGroup, (2008). Travelers Life & Annuity. Retrieved October 23, 2012 from the World Wide Web: http://web.archive.org/web/20080618053219/http://www.citigroup.com/citigroup/corporate/history/travelers.htm.
2. Company Statements and Slogans, (2012). Travelers Cos. Retrieved November 29, 2012f rom the World Wide Web: http://www.makingafortune.biz/list-of-companies-t/travelers-cos.htm.
3. Intellicorp Records (2012). Comprehensive Coverage. Retrieved November 29, 2012 from the World Wide Web: http://www.intellicorp.net/sp/Coverage.aspx.
4. LoJack, (2011). LoJack Security Systems for Stolen Vehicle Recovery, GPS Anti-Theft and Persons at Risk. Retrieved October 23, 2012 from the World Wide Web: http://www.lojack.com.
5. LoJack SCI, (2012). LoJack Supply Chain Integrity signs agreement with Travelers Inland. Retrieved October 23, 2012 from the World Wide Web: http://www.lojacksci.com/about/pr-10-07-09.aspx.
6. MSDSonline, (2012). MSDS Solutions – Manage Material Data Sheets with MSDSonline. Retrieved November 29, 2012 from the World Wide Web: http://www.msdsonline.com.
7. Travelers, (2012). Travelers Insurance. Retrieved October 23, 2012 from the World Wide Web: https://www.travelers.com/index.aspx.
8. USI Rental Specialists, (2008). Risk Management. Retrieved November 29, 2012 from the World Wide Web: http://www.usiaffinity.com/rental_risk.shtml.
9. Verisk Analytics (2012). IntelliCorp. Retrieved November 29, 2012 from the World Wide Web: http://www.verisk.com/IntelliCorp/Product-Pages/IntelliCorp-background-checks-and-screening.html.
10. Wikipedia, the free Encyclopedia, (2012). Management Information System. Retrieved October 23, 2012 from the World Wide Web: http://en.wikipedia.org/wiki/Management_information_system.

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...FOREIGN TRAVEL INSURANCE BACHELOR OF COMMERCE BANKING & INSURANCE SEMESTER 6 ACADEMIC YEAR 2010-2011 DECLARATION The information submitted is true and original to the best of my knowledge. ACKNOWLEDGEMENT I would like to thank Professor Adarsh Suri and Professor Neha Shah who havesupported immensely in the successful completion of this project. Foreign Travel Insurance INDEX 1. | What is Insurance? | 2. | Principles of Insurance | 3. | Need of Insurance | 4. | Types of Insurance | 5. | Benefits of taking Insurance | 6. | What is Globalization? | 7. | What is TRAVEL INSURANCE? | 8. | Types of Travel Insurance | 9. | Types of Travel | 10. | What is Foreign Travel Insurance? | 11. | Objectives of Foreign Travel Insurance | 12. | Guidance to Foreign Travel Insurance | 13. | Foreign Travel Insurance Coverage | 14. | Student Travel Insurance | 15. | Over 65 Travel Insurance | 16. | Foreign Travel Insurance in News | 17. | Foreign Travel Insurance W.R.T ICICI Lombard | 18. | Conclusion | 19. | Questionnaire & Analysis | Summary Provides information on the benefits of foreign travel insurance and what is generally included. Falling ill or experiencing an accident while travelling abroad requires foreign treatment, and, with medical expenses increasing worldwide, this can lead to costs much more difficult to cover than the actual holiday. Medical expenses increase immensely if there’s need for repatriation....

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Medical Tourism Industry - Advantage India by C.B. Venkata Krishna Prasad

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