United Services Automobile Association is a diversified financial firm. The company’s activities are related to services in the provision of various financial products. Several years ago, the company was restricted by legal laws that prohibited the provision of various services to consumers, such as insurance and investment advice. Today, the laws of most states allow financial companies to expand the scope of their activities.
USAA opened the doors to it’s first client in 1922. American military personnel are the founders of the company. The main goal of their union in the form of a corporation was the possibility of mutual insurance. Officers have always been a high-risk group because they have high chances of being killed being on a mission. Therefore, the state denied such persons the opportunity to insure their own real estate.
Today, the work of the company is under the control of the Texas Department of Insurance. The USAA head-office is also located there. Today there are over 11 million active members worldwide. Among them are not only the servicemen of the American army, but also their relatives and friends.
USAA is the first financial company in the world that uses direct marketing in work. The business is based on direct sales of services on phone calls or the Internet.
How it all began
In 1924 the company changed its name to the modern one. The renaming of the company was due to the fact that the members of the organization became the military, representing other American services. The company’s activities began to expand beyond the mainland. The first offices were opened in Europe. USAA became based in Germany and England.
25 military personnel were the founders. The company was founded on June 22, 1922. On this day, participants gathered to discuss an issue related to car insurance.
Today the company’s head-office is located in San Antonio. It is larger in size than the Pentagon.
The company offered its insurance services by mail. Since 1960, members have shifted their businesses to using telephone calls. This ensured strong sales growth. A toll-free telephone line was opened in 1978. After 20 years, the company switched to using the Internet. USAA created it’s own website and began to develop its business.
Since the 60s of the 20th centuries, the company began to offer life insurance to homeowners. After 10 years, a new service was introduced – a broker. In the 80s of the 20th centuries, the company began to engage in banking services.
From 2009 to 2013, each person could become a member of the organization and gain access to investment products. However, those who were not military personnel could not use car and property insurance products.
Types of services
USAA today offers:
real estate and life insurance;
banking – the organization opened its bank in 1983, which today ranks 28th in the world in terms of authorized capital;
other services – this list includes tourism, car rental, cruise travel arrangements and so on.
USAA has many positive reviews, which makes it stand out from the rest of the financial market. In 2002, the company received an award that is awarded only to the best firms. Today the company is ranked first in customer service among other American competitors.
Contact information: https://mobile.usaa.com