USAA stands for ‘United Services Automobile Association’. The name may seem odd because the company provides more than just automobile insurance, but that is so because USAA was originally established to be a provider of Automobile Insurance services. Now, the company is known to provide all types of insurance services to the people who serve in the United States Military, as well as their families. The company’s slogan is a catch “We Know What it means to Serve” a phrase that is truly meant to get the attention of the brave men and women who serve the country and stay in the frontlines of danger to protect the interests of the United States of America and of those that need assistance.
Light first shone on USAA for the first time in 1922. The group was founded by a few officers of the U.S. Army. The driving force behind the conception of this insurance company is the fact the members of the U.S. Army were considered a “High-Risk” group because of the circumstances that they face in their line of work and because they were deemed as such, the were denied any approval for any then existing insurance companies. Since then, USAA has grown to what it is today.
They now provide a wide range of services to members of the US Army as well as their families. USAA Insurance services include: Banking, Property Insurance, Casualty Insurance, Life Insurance, as well as Financial and Investment planning. One of the many interesting facts about USAA is that they are one of the few companies who advocated direct marketing. As a result of such a decision, most of USAA’s business transactions are done over the World Wide Web or via Telephone.
It is no secret that USAA caters to a specific market niche. In the past, anybody, even those that have retired from the United States Army was considered eligible to avail of USAA’s service. But as the number of the US Military increase, USAA has found it harder to keep track and to provide optimal services to their clients. In response to such dilemma, USAA has chosen to limit its new members to those that are currently active or to those that have just recently resigned from the service of the United States Army.
One of USAA’s highest selling points to their clients is their consistently high customer service rating. Their clients know them to be a very reliable group. Most of the time, surveys would reveal the fact that USAA always belongs to the top 3 (often on the top spot) for their customer service efforts. Other than being great with their customers, USAA is apparently home to the best bosses there are in the United States.
They also manage to land the top spots for the best employers in the United States. Because USAA is focused on serving their customer niche of the US military and their families, they remain to be the only Fortune 500 company that does so. However, they have managed to find competition in the car insurance market with the insurance company GEICO. GP
