Travelers has been focusing on using data analytics, virtual reality, artificial intelligence, and cloud to digitally transform its operations. The annual ICT spending of Travelers was estimated at $1.5 billion for 2021. A major share of this spending is earmarked for acquiring software, ICT services, and hardware from vendors. Travelers is an insurance company that offers a range of commercial and personal property and casualty insurance products and services. It provides insurance products for auto, real estate, marine, valuable items, wedding, and identity fraud. It also offers flood insurance, business owner cover, special risk insurance, management and professional liability insurance, and surety bonds.
The Travelers enterprise tech ecosystem report will act as a reference point to understand a company/competitor’s digital strategy. It will also help in understanding the digital preparedness of the company against its peers. The information included in these reports is sourced from a mix of our very own internal database and authentic secondary research links such as the company’s annual report, presentations, press releases, etc. The report covers an overview of the company, its digital transformation strategies, technology focus areas, accelerator programs & innovation initiatives, technology partnerships, technology introductions, investments, acquisitions, and ICT spending among others.
Digital Transformation Strategies
Travelers has called upon the likes of data scientists, data engineers, actuaries, statisticians, and application developers to form cross-functional teams with expertise in machine learning, AI, data mining, predictive modeling, and cloud security architecture. These hires work on sourcing unstructured data, analyzing trends and patterns, improving existing damage estimation and claims management procedures, and predicting customers’ needs.
To gain more insights on digital transformation strategies and initiatives of Travelers, download a free report sample.
Travelers Technology Theme Focus
Travelers is utilizing several emerging technologies including data analytics, virtual and augmented reality, and artificial intelligence among others to enhance its operational and service capabilities.
To know about other technology themes under focus for the company, download a free report sample
Travelers Technology Initiatives
Travelers has been involved in several strategic technology partnerships and collaborations, technology developments and roll-outs, technology investments, and acquisitions over the last few years. For instance, in 2018, the company partnered with Triax Technologies to introduce wearables at construction sites. Through the partnership, Travelers tested Triax’s solutions at construction sites to determine the ability of wearable devices to predict, prevent, and minimize accidents causing injuries to employees and property losses resulting from fire damage, theft, and water leaks Currently, Travelers is leveraging the data collected from Triax devices to improve worker safety and ensure efficient project management for its clients.
For more insights on other technology initiatives of Travelers, download a free report sample
Travelers ICT Spend by Function
- Data center
- End-user computing
- Service desk
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Travelers ICT Spend by Channel
- Internal development and maintenance
- Technology vendors (direct)
- Local resellers
- ICT services providers/consulting firms
- Specialist outsourcers
- Systems integrators
For more insights on ICT spending by channel, download a free report sample
Travelers External ICT Spend by Segment
- Software (including Cloud SaaS)
- Hardware (including Cloud Iaas)
- ICT services
- Network and communications
For more insights on external ICT spending by segment, download a free report sample
Travelers Tech Ecosystem Overview
|Total ICT Spending 2021||$1.5 billion|
|ICT Spend by Function||Data center, Communications, Network, Application, End-User computing, Management, and ICT Service desk|
|ICT Spend by Channel||Internal development and maintenance, Technology vendors (direct), Local resellers, Telcos, ICT services providers/consulting firms, Specialist outsourcers, and Systems integrators|
|External ICT Spend by Segment||Software (including cloud SaaS), Hardware (including cloud Iaas), ICT services, Consulting, Network and communications, and Others|
|Technology Theme Focus||Data Analytics, Virtual and Augmented Reality, and Artificial Intelligence|
This report provides:
- Insight into Travelers’ technology activities.
- Insights of its accelerator programs & innovation initiatives.
- Overview of technology initiatives covering partnerships, technology introductions, investments, and acquisitions.
- Insights on each technology initiative including technology theme, objective, and benefits.
- Details of estimated ICT budgets.
Reasons to Buy
- Gain insight into Travelers’ insurtech operations.
- Discover its fintech strategies and innovation initiatives.
- Learn about its product launches, partnerships, and investments.
Table of Contents
Table of Contents
Digital Transformation Strategy
Accelerator Programs and Innovation Initiatives
Investments and Acquisitions
Partnership, Investment, and Acquisition Network Map
ICT Budget and Contracts
Frequently Asked Questions
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