Travelers discontinues Traverse
Traverse , the modern D2C brand by Travelers , is no longer selling monthly policies according to a message displayed by its site. “Traverse policies are no longer available for purchase. If you already have a policy, click here to log into self service.”
Founded in 2018, Traverse offered a monthly insurance subscription for items such as electronics, handbags, jewelry and even “experiences.” The brand had the making of millennial-relevant attributes: unbundled, flexible, trustworthy and even – bright.
Its high point – someone managed to take the umbrella out of Travelers, even if just for a minute.
A case of priorities? Travelers’ earnings call took place a week ago. “We subscribe to the view that over time, the impact of AI across the economy is going to be profound. So is the opportunity for Travelers,” shared CEO Alan Schnitzer. Further stating that with its perform and transform mindset and its disciplined framework for assessing investment priorities, Travelers has been focused for years on responsibly developing differentiating AI capabilities across 3 innovation priorities, extending lead in risk expertise, providing great experiences for customers, agents, brokers and employees and optimizing productivity and efficiency.