The Travelers Insurance Company was founded by James Goodwin Batterson in 1863 as the first casualty insurance company in North America. Its current location is its fourth home in the city. In 1919, the tower was completed under the direction of New York City architect, Donn Barber, who also designed the Connecticut State Library, Supreme Court Building and the Hartford Times building.

At 34 stories in height, the tower reaches 527 feet above street level and has a flashing red beacon during the daytime as an aid to air navigation. At night, the tower is lit by white light. The Travelers Tower was once the tallest structure in New England and is still a dominant architectural feature in Hartford.

In recent years, the tower has been a nesting site for Peregrine Falcons, an endangered species. A "falconcam" was set up on the tower for scientific observation and was made available on the web for public viewing.