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Target Markets Program Administrators Association Carriers Travelers National Programs Expertise. Partnership. Discipline. When Vance Sawamura began to list some key attributes for a successful program operation, these were at the top of the list. As the head of Travelers’ National Programs business unit, Sawamura is well-versed in responding to the unique needs of the program marketplace, and feels that the link between the carrier and the program administrator is one of the critical elements to ensuring long-term success. Travelers National Programs has its roots in several business segments from legacy Travelers Insurance and legacy St. Paul Companies. “Our opportunities are significant,” states Sawamura, “because we can draw on our organization’s tremendous resources and expertise to support program business.” Combining new hires and some re-positioning of key staff over the last six months, National Programs is settling into its new structure. “As we look across our book of business, we are very pleased to be aligned with a number of ‘best in class’ program experts who manage some very specialized insurance programs for us, many having done so for a number of years,” says Sawamura. Travelers National Programs customizes insurance products for commercial insureds that are homogeneous in nature, and typically underwritten through a program administrator, who often has delegated authority for underwriting and processing. National Programs’ current book of workers compensation, general liability, auto liability, property and umbrella totals approximately $450 million in gross written premium. The book contains delegated authority programs in a wide variety of market segments, in addition to three “company underwritten” programs that focus on golf, entertainment, and architects and engineers. According to Jeff Alexander, national marketing director, each program targets a unique niche. “Given Travelers’ extensive field presence and agency plant, our programs serve to fill a void in selected market segments,” says Alexander. Besides leveraging Travelers’ financial strength, program administrators can also customize the exceptional claims and risk control services that Travelers offers. In addition, the breadth of product offering within Travelers’ other business units may lead to a “cross-sell” opportunity that can further expand a program’s scope. When considering new programs, Travelers will entertain books of business with annual premiums of $5 million or more. Ideal focus includes a profitable track record, strong regional presence, and emphasis on small to medium-sized accounts. Travelers values program administrators with strong knowledge of the program marketplace, specialized expertise in their market segment, and a proven track record. “Most importantly,” says Alexander, “our program administrators are of the mindset that underwriting discipline carries the highest priority. As a carrier partner of the TMPAA, we see first-hand the membership’s professionalism and dedication. TMPAA members tend to have precisely the characteristics we look for in program administrators.” Summarizing, Sawamura says, “We’re very pleased with National Programs today, but as our business continues to evolve, we’ll change and grow with it. We’ve said that our ultimate goal is to be known as a premier provider of program business. We’re confident we’re on the right track.” To discuss a program opportunity, please contact Jeff Alexander at (860) 277-9194, jeffrey.alexander@travelers.com or Les Woods, regional marketing director, at (704) 544-3548, les.woods@travelers.com. * |
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