Travelers now offers an online insurance policy designed for customers who may not need a traditional home or auto policy. XL Catlin has started using an online claims reporting tool in North America for its marine coverage.
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The Travelers Companies debuted an insurance product designed for customers who don’t need traditional home or auto coverage.
Dubbed Traverse, the coverage is being billed as a “first-of-its-kind” product designed for consumers who may not need a traditional home or auto policy. Traverse can be an alternative to renters insurance by including personal liability coverage that meets most landlord requirements. It also offers identity theft coverage and protects things like mobile phones, laptops, musical instruments, jewelry and even some vacation experiences.
Traverse is offered online at better.withtraverse.com. Customers can buy policies, make policy changes and submit claims — all online. The package is currently available in New York and typically costs between $8 and $32 per month with no deductible.
There are three options to choose from, all of which include personal liability and identity theft protection.
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XL Catlin has started using an online claims reporting tool in North America.
The new marine loss reporting tool, using technology from RightIndem, streamlines the whole notification-of-loss process, letting clients immediately share details and visual information about an incident to start the claims management process.
Conor Murray, head of Marine Claims–North America, said in prepared remarks that receiving claims information quickly will help the marine claims team assess and resolve claims much more quickly.
XL Catlin’s Global Marine business provides insurance for clients with special coverage needs for their marine exposures, including inland marine, ocean cargo, blue and brown water hull, P&I, as well as excess and primary marine liabilities.
Sources: Travelers, XL Catlin