The Travelers Companies, Inc. (NYSE: TRV) today announced the release of its 2024 Sustainability Report, which details the company's integrated approach to sustained value creation.
"For us, sustainability is about ensuring our ability to create shareholder value over time while continuing to take care of our customers, communities and employees," said Yafit Cohn, Chief Sustainability Officer at Travelers. "Our sustainability efforts are integrated into everything we do – it's a comprehensive approach, and our report puts that on full display."
The report provides an in-depth review of 16 topics the company has identified as its key drivers of sustained value: Business Strategy & Competitive Advantages, Capital & Risk Management, Climate Strategy, Community, Customer Experience, Data Privacy & Cybersecurity, Disaster Preparedness & Response, Diversity & Inclusion, Eco-Efficient Operations, Ethics & Responsible Business Practices, Governance Practices, Human Capital Management, Innovation, Investment Management, Public Policy and Safety & Health.
Below are highlights from this year's report:
- Climate Strategy: Travelers is an industry leader in conducting scenario analysis with respect to identifying the incremental climate impact on physical risk, above typical weather conditions, and recently expanded its analysis to include wildfire risk. This analysis has provided additional visibility into the potential impacts of climate on the company's business.
- Community: Travelers employees logged a record amount of volunteer time in 2024, surpassing 121,000 hours.
- Customer Experience: In 2024, Travelers adjusted nearly all of its catastrophe claims with its own employees, supported by innovative technologies, self-service capabilities and trusted service partners. This approach sets the company apart in the industry, allowing it to process claims quickly and accurately, with a consistently high standard of customer service.
- Disaster Preparedness & Response: In 2024, the company resolved 90% of property claims arising out of catastrophe events within 30 days. This was a particularly remarkable result given that there were 74 catastrophe events and more than 137,000 catastrophe notices of loss in 2024. In addition, 84% of property catastrophe claims were paid within one week of inspection, and 61% were paid the same day.
- Eco-Efficient Operations: The company has reduced Scope 1 and 2 emissions from its owned operations by 55% since 2011 and recently initiated a solar project at its Claim University location in Connecticut that will enable the building to be powered almost entirely by solar energy.
- Public Policy: The Travelers Institute, the company's public policy division, marked its 15th anniversary. Since its founding, the Travelers Institute has hosted or participated in nearly 1,200 events and speaking engagements, reaching close to 470,000 audience members.
Travelers' sustainability reporting is guided by multiple sustainability disclosure frameworks, as well as ongoing engagement with key stakeholders from both within and outside the organization. This year marks the seventh consecutive year the company has issued stand-alone, comprehensive reports consistent with the Sustainability Accounting Standards Board (SASB) standards for the insurance industry and the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD), making the company a leader in the domestic property casualty insurance industry.
To learn more about Travelers' sustainability efforts, visit sustainability.travelers.com.
About Travelers
The Travelers Companies, Inc. (NYSE: TRV) is a leading provider of property casualty insurance for auto, home and business. A component of the Dow Jones Industrial Average, Travelers has more than 30,000 employees and generated revenues of more than $46 billion in 2024. For more information, visit Travelers.com.
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