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Wedding Protector Plan Business Center Overview 12/18/06

Wedding Protector Plan Business Center Overview 12/18/06. Agenda. What does Wedding Insurance cover? Workflow for policy issuance/claim service for Wedding Insurance How will we sell Wedding Insurance? Role of Business Center in Wedding Insurance program

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Wedding Protector Plan Business Center Overview 12/18/06

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  1. Wedding Protector Plan Business Center Overview 12/18/06

  2. Agenda • What does Wedding Insurance cover? • Workflow for policy issuance/claim service for Wedding Insurance • How will we sell Wedding Insurance? • Role of Business Center in Wedding Insurance program • Timeline for Implementation / Takeaways

  3. Why do we want to insure weddings? Wedding insurance can be the start of a lifelong customer relationship! ● Average age of a bride and groom is 27-29 ● In their new life ahead, bridal couples will spend $19.6 billion on insurance ● 1.6 million brides will purchase or change insurance policies ● 80% of brides will discuss merging auto insurance policies with their fiancé prior to/during their engagement Source: Condé Nast Bridal Media - American Wedding Study, 2006.

  4. What does Wedding Insurance cover? • Cancellation/Postponement Coverage – Provides payment for lost or forfeited deposits in the event of a necessary and unavoidable cancellation or postponement of the wedding. (not for a “change of heart”) • (i.e. Groom is unexpectedly deployed overseas for military duty) • Also provides coverage for: • Additional expenses- Ex. Airline goes on strike, need to change flights • Event Photographs/Video- Ex. Photographer overexposes negatives • Special Attire- Ex. Wedding dress damaged during shipping • Special Jewelry- Ex. Wedding bands are lost before wedding • Event Gifts- Ex. Gift at wedding falls off table and breaks • Lost Deposits- Ex. Florist is a ‘no-show’ at wedding, left a 10% deposit • Liability- An endorsement will be available for liability coverage

  5. Who is providing wedding insurance? • Travelers will be partnering with Brown & Brown for this new product • Due to priority of Quantum auto/home projects, system support was not available to offer this product through our current systems. (Note: Customer data will not appear in any internal reports or management information) • If product is successful or if call volume is heavy, we may look to bring it in-house. • Think of Brown and Brown as the ‘service center’ for this project • B&B will issue policies, staff 1-800 number, collect payments (by credit card only), maintain website, assist in marketing by attending wedding shows, meeting with wedding planners & reception hall managers, etc. • Brown and Brown will be ‘invisible’ to our agents and customers • Product will be branded “Wedding Protector Plan by Travelers” in all materials • Unique policy forms have been reserved exclusively for this program • 400 = All wedding policies excluding those in FL, NJ • 401 = New Jersey wedding policies • 402 = Florida wedding policies

  6. Agent Path Consumer Path ConsumerWebsite Protectmywedding.com Fulfillment page of Protectmywedding.com Buy Policy online Or Call 1-888-DIAL-WPP Issue Policy AgentHQ Link Advertising Drives Consumers to Website Cross-Sell Travelers Policies How will Travelers sell wedding policies? Additional information will be available for agents at AgentProtectMyWedding.com Wedding insurance customers will be encouraged to call Travelers Call Centers (Knoxville) for other Travelers products

  7. Insured reports wedding loss to 1-800 CLAIM33 Call is routed to Fall River Business Center for manual coverage verification/input of coverage information into CPCS All wedding claims are forwarded to Tampa claim office for adjudication * How will Travelers service wedding claims? * All claim information/payments will be stored in Travelers claim system (Impact/CPCS)

  8. Agent or Consumer visits www.protectmywedding.com Agent or Consumer visits www.protectmywedding.com Agent or Consumer has question on policy/coverage, etc Agent or Consumer has question on policy/coverage, etc Agent or Consumer Calls 1-888-DIAL-WPP Agent or Consumer Calls Travelers of Florida Flow of Wedding-Related Calls to Business Center Business Center Routes Call To Wedding Protector Plan representatives (1-888-DIAL-WPP) Representative at Wedding Protector Plan Resolves Issue

  9. Timeline for Implementation • Sign partnership contract with Brown and Brown…………….Completed • Complete draft and review of policy forms……………………..Completed • Begin filing for regulatory approval………………………………In progress • “Soft” launch of Wedding Insurance in IL, WI, MN………..January, 8 2007 • Link under Local News on AgentHQ for IL, WI, MN Agents • National launch of Wedding Protector Plan…………….February 14, 2007 • Link under Quick Site Links on AgentHQ for All Agents • Wedding Insurance page on AgentHQ appears

  10. Appendix A: Wedding Protector Plan Contact Info Wedding Protector Plan PO Box 152828 Tampa, FL 33684-2828 P:1-888-DIAL-WPP

  11. Appendix B: Wedding Declarations Page Snapshot Declarations will be uniquely branded under Special Event Insurance/ Wedding Protector Plan

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