Travelers (NYSE: TRV) today announced that it has signed on as an investor in Project CAP, an industry initiative to expand the independent agent’s share of the personal lines insurance market. As part of the investment, Travelers also will serve as a listed carrier on TrustedChoice.com, the national brand created exclusively for members of the Independent Insurance Agents & Brokers of America (IIABA) to help consumers understand the value of an independent insurance agent.
“We are very pleased to invest in Project Cap and help our agents compete more effectively in the digital space,” said Greg Toczydlowski, Executive Vice President and President of Personal Insurance at Travelers. “This further demonstrates our commitment to the independent agent channel.”
Travelers’ support will assist the ongoing development of Project CAP, which offers a broad selection of digital marketing services to independent insurance agencies, including TrustedChoice.com. In addition, Toczydlowski will serve on the Project CAP Board of Directors.
“Travelers is one of the nation’s largest and most well-respected property and casualty companies and we are very pleased that it has committed to this program,” said Charles “Chip” Bacciocco, CEO of Project CAP. “Travelers’ investment will allow Project CAP to continue its strategic growth and enhance its infrastructure.”About Project CAP Created through an alliance of the Independent Insurance Agents & Brokers of America (IIABA), Trusted Choice ®, state associations and key insurance carriers, Project CAP is an industry initiative to expand the independent agent's share of the personal lines insurance market. Project CAP received initial operating investment from IIABA and key insurance carriers, including: The Central Insurance Companies, Safeco Insurance, State Auto Insurance Companies, Selective Insurance, The Main Street America Group and Westfield Insurance. Project CAP is a trademark of Consumer Agent Portal, LLC, a Delaware limited liability company formed in 2011. For more information, visit http://www.projectcapmarketing.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 approximately 30,000 employees and generated revenues of approximately $26 billion in 2013. For more information, visit www.travelers.com.