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slidesY10M12D03hubbell

slidesY10M12D03hubbell - 11 University of Minnesota...

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University of Minnesota December 3 rd , 2010 Nathan Hubbell, FCAS John Renze, PhD, FCAS
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3 Agenda Travelers Broad Overview Analytics Career Opportunities Predictive Modeling Generalized Linear Models (GLM’s)
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4 Offers property and casualty solutions to individuals and companies of all sizes Second-largest commercial insurer in the U.S. Second-largest personal insurer through the independent agency channel No. 98 on the Fortune 500 list of largest U.S. companies Representatives in every U.S. state, Canada, Ireland and the United Kingdom A member of the Dow Jones Industrial Average – the only insurance company on the list Revenue of $25 billion and total assets of $110 billion in fiscal year 2009 About Us
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5 Travelers – 2007 The company name changed to The Travelers Companies, Inc. and began trading on the New York Stock Exchange under the symbol TRV. The 137-year- old insurance icon, the red umbrella, was reinstated. St. Paul Travelers – 2004 The St. Paul and Travelers merged on April 1, 2004 forming The St. Paul Travelers Companies, Inc. Company History Travelers – 1864 J.G. Batterson and nine others formed Travelers Insurance Company for the purpose of insuring travelers against death or injury while journeying by railway or steamboat. The Saint Paul – 1853 Seeing the need for a local insurance company, Alexander Wilkin and 16 fellow Saint Paul businessmen founded St. Paul Fire and Marine Insurance.
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6 Our Organization Business Insurance : Offers a broad array of property casualty, specialty insurance and related services to businesses of all sizes. Financial, Professional & International Insurance : Includes international products and surety, crime and financial liability products that use credit-based underwriting processes. Personal Insurance : Offers products including automobile, homeowners, renters and condominium policies to individual consumers. Claim : Includes 13,000 trained Claim professionals in four countries and all 50 states who respond to customers 24 hours a day, seven days a week, 365 days a year.
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7 What is insurance and what good does it serve? Insurance restores individuals to the financial state they were in prior to a loss (e.g. car accident; tree fell on house) For this benefit, customers pay a premium to the insurance company If a customer doesn’t have a loss, then their premium A. Helps the insurance company cover the loss another customer did have B. Keeps the insurance company functioning so it can continue providing this service If the customer does have a loss, it’s the other insureds that are helping them!
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