USAA began in 1922 with 25 Army officers who offered to insure each other’s vehicles when no one else would. Today, their tiny organization has grown into a respected institution offering a full range of financial products to 9.8 million members.  Also, the 2013 Temkin Group Customer Experience Ratings showed that USAA was the top insurance carrier with a rating that was 50% higher than the bottom carrier and Satmetrix® reported them as “top-ranked company in annual Net Promoter Index of customer loyalty (2009-2012)”.  And, their product set is incredibly diverse.

At a very high level, it appears that the reason that USAA became so diverse and so great at creating incredible member experiences is because they focus on serving on military members.  Consider this scenario:

In a family of two parents and 2 kids, one parent is stationed at an outpost in Afghanistan and the other is on a missile submarine on a 3-month submerged deployment.  The kids stay with one set of grandparents, who are retired military.  Everyone has his or her financial business with USAA.  The parents can have questions or need changes anytime they get a break in the action and can access an Internet phone. The grandparents have oversight responsibility for the financials and are doing the best they can.  With this kind of scenario, is it any wonder that USAA had to figure out how to take great care of its members and how to offer many value-added services to provide a reasonable lever of peace-of-mind to its members?

USAA’s Services

USAA segments its portfolio of products and services into 7 segments.  Here is one interesting “product” in each category:

  • Insurance – Annuities
  • Banking – Credit monitoring
  • Investing – Collage savings
  • Real Estate – Real estate agent finder
  • Retirement Planning – Wealth management
  • Health Insurance – Medicare
  • Shopping and Discounts – Car and jewelry buying service

Lets dig deeper into just one of these areas;

What is Home Circle™?

Home Circle puts search tools, guidance, and products at your fingertips to meet all your real estate needs:

  1. Powerful tools. Search comprehensive real estate listings — and get information on area schools, shopping and dining.
  2. Organize your search. Save your favorite searches and get driving directions to properties. Plus, you can use your iPhone® or Android™ device to upload photos and notes on properties you visit.
  3. Find a real estate agent and save. Get a cash bonus of up to $3,100 when you buy and sell your home through our MoversAdvantage program.
  4. Make closing day easy. USAA’s own title company, United Lender Services (ULS), can make sure your closing fits your needs while providing you with the same world-class service you expect from USAA. Talk with your MoversAdvantage real estate agent about using ULS.
  5. One-stop shopping for all your real estate needs:Real Estate Agent Finder
  6. Homeowners Insurance
  7. Renters Insurance
  8. Valuable Personal Property
  9. Mobile Home Insurance
  10. Home Value Monitoring
  11. Life Insurance
  12. Rental Property Insurance
  13. Mortgage
  14. Flood Insurance
  15. Condo Insurance
  16. Home Equity
  17. ADT Home Security Systems
  18. USAA MemberShop
  19. Find a Professional Contractor
  20. Utility Marketplace

All these services are available over the web or by telephone 24×7.

Financials

Here is an extract from the USAA.com Financial Strengths page:

USAA is classified as the U.S.’s:

  • 26th largest bank
  • 5th largest homeowners insurer
  • 8th largest credit card provider
  • 6th largest auto insurer
  • and USAA ranks 58th in net worth among Fortune 500 and 139th for revenue

This company is clearly a financial giant.  The members love them and are incredibly loyal to USAA. This is a company to emulate but, unfortunately, they have a unique advantage over most of us – their customers are and have risked their lives for our country and expect and demand respect, professionalism, and integrity in all their dealings.

Can we deliver these kinds of experiences to our client/customer base?  We had better since USAA customers are also our customers!