Millennials are credited — or blamed, depending on yourpoint of view — with accelerating the pace of disruption inthe insurance industry. Thanks to their habits of buying online, onmobile devices and at all hours, start-ups like Lemonade beganselling insurance online, conducting all transactionselectronically, using chatbots to answer customer questions andcustomizing the product offerings to be “just enough”insurance primarily for the millennial market.

Now, a more established carrier is targeting the millennialinsurance market with Traverse^SM, from the TravelersCompanies, announced today. It's described as “a personal insuranceproduct targeting millennials and insurance customers who may notneed a traditional home or auto policy.”

Travelers says Traverse is meant to serve as an alternative to renters insurance byincluding personal liability coverage that meets most landlordrequirements. It also offers identity theft coverage and protectsthings like mobile phones, laptops, musical instruments, jewelryand even some vacation experiences — all items of importanceto millennials who may not have accumulated much furniture orhousehold goods.

“We asked millennials about the types of insurance that wouldmeet their needs, and we built a completely new insurance product,”Beth Maerz, Vice President of Customer Experience and Innovationfor Personal Insurance at Travelers said in a statement.

Related: Stages of financial life different formillennials

Mobile, digital and customizable

Maerz says Traverse is easy to buy online, is mobile as acompletely digital platform, and is customizable so customers canpurchase the coverage that fits their lifestyle.

From the Traverse website, betterwithtraverse.com, Customers can buypolicies, make policy changes and submit claims all online. Thepackage is currently available in New York and typically costsbetween $8 and $32 per month with no deductible.

There are three options to choose from, all of which includepersonal liability and identity theft protection:

• The “I love my stuff” option: This coverageprotects the personal belongings of your choice, including mobilephones, musical instruments, jewelry and watches, personalelectronics, cameras, sporting equipment and handbags.
• The “I love my experiences” option: Thisvacation continuation coverage provides reimbursement if you incuradded costs due to transportation delays, flight cancelations orunsatisfactory home-sharing accommodations.
• The “I love it all” option: This packageincludes both the “stuff” and the “experiences” options.

Clearly, traditional insurance carriers do have the ability tobe creative and meet their customers' needs as they change. It willbe interesting to see how well millennials respond to the newproduct from Travelers and how competitive it is when comparedwith industry disruptors like Lemonade or Metromile.

Related: Millennials: Reaching a new generation of employeesand customers