Arpita Tripathy

UH18103
First year HRM
USAA Xavier School of Human Resource
Management

Company Review
USAA, basically known as United Services Automobile Association is a San Antonio,
Texas based fortune 500 diversified financial firms offering banking, investing, and
insurance to people and families who serve, or served, in the United States Military. In
the fourth quarter of 2017 there were 12.4 million members.

USAA, founded in 1922 in San Antonio, Texas was started by a group of 25 military
officials for getting mutual self-insurance as they were unable to buy some insurance
because of the nature of job which had a perception that they belong to a very high risk
group. USAA has since expanded to offer banking and insurance services to past and
present members of the military forces, officers and enlisted, and their immediate
families. The company has been ranked No. 100 out of fortune 500 companies in 2018
based on total revenue.

The company is known for their everlasting commitment to their customers and are
always recognized for their outstanding services, financial strength and taking care of
the employee well-being.

The present size of the company is above 10000. It has specialties in Insurance,
Investments, Financial Planning, and Banking, Serving the Military Community, Military
Friendly Employer, and World-class Benefits.

Location

Headquarters in San Antonio, Texas

Revenue

3001.6 crores US Dollars as per 2017

Ownership

TOP 5 HOLDINGS* – 5/31/18 ■

(% of Net Assets)

Vanguard FTSE Developed Markets ETF** - - - - - - - - - - - 6.5%

Vanguard Short-Term Corporate Bond ETF** - - ------------------------------- - - 5.1%

Schwab Fundamental International Large

Company Index ETF** - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 3.2%

U.S. Treasury Bond, 3.13%, 8/15/2044 - - - - - - - - - - - - - - - - - - - - - - - - - 3.0%

Vanguard Total Bond Market ETF** - - - - - - - - - - - - - - - - - - - - - - - - - - 2.9%

SWOT Analysis

Strengths Weakness

● First in customer service ● International growth restrictions

● High growth/profitability ● Cybersecurity
● Strong niche market ● Financial planning not done
● Technology Innovator properly
● No online presence

opportunities Threats

● Partnership and Alliance ● Government Regulations

● Membership expansion ● Economic fluctuations

Strengths

First in customer service

USAA ranked #1 in providing better customer service in the bank, credit card and
insurance category by Forrester research Inc. in 2018.Providing better services can
improves the chances of pertaining current customers as well as attracting the new
ones. USAA earned the most noteworthy positioning among monetary administrations
organizations in the RepTrak 100 Most Reputable Companies in America list, and #36
in general. USAA was given the #2 Military Friendly Companies. Many researches has
shown that managing the present customers and satisfying them is much more difficult
than marketing for new ones. According to research done by Raddon, 40% of the credit
union holders have said that they are very satisfied being with the company. It has set a
benchmark in the financial sector. In 2018 USAA’s net promoter score boosted to be
four times higher than the average score among financial firms. According to the annual
report 2017 of USSA, nine out of 10 members confirmed that they were extremely
satisfied by USAA’s service. USAA handled nearly 85 million calls from members and
saw a membership growth of over 500,000 to 12.4 million.

Brand name and trust

USAA's Insurance is the greatest stake of their business; however it's only one section.
They're glad to offer trust, combination, and accommodation with other monetary
administrations at a little markup. They won't contend on misfortune pioneers in money
related ventures, CDs, business checking, rewards credit cards, home loans, or
whatever else which different organizations may finance with "delicate dollar"
advertising. USAA's insurance decisions depend on risk, and they're evaluated suitably
for that chance. Our part dollars are not spent on a distraught snatch for piece of the pie
in a race to the base. The insurance giant touched $30 billion in net worth, with nearly
$2.3B paid in catastrophe claims. (USAA’s largest annual loss ever.) USAA’s strong
financials leveraged them to pay nearly $15 Billion in total claims— while still returning
more than $1.5 Billion to members in distributions, dividends, bank rebates and
rewards. Regardless of a staggering hurricane season that included three Category 4
storms and rapidly spreading fires that crushed pieces of California, USAA reinforced its
monetary establishment. Likewise, every one of the three noteworthy FICO assessment
organizations keep on giving USAA solid evaluations for money related quality. In 2019,
Moody's Investors Service has affirmed the Aaa insurance financial strength (IFS) rating
of United Services Automobile Association (USAA) and the ratings of its subsidiaries
(see list below) and has changed the rating outlook to negative from stable. The rating
affirmation reflects USAA's market leadership in providing insurance and other financial
services to the military community and its strong capitalization.

https://www.moodys.com/research/Moodys-affirms-USAAs-Aaa-financial-strength-rating-and-
changes-outlook--PR_1000000187

https://the-military-guide.com/the-big-picture-on-insurance-usaas-annual-reports/

https://content.usaa.com/mcontent/static_assets/Media/report-to-member-
2017.pdf?cacheid=2758991777_p

Strong niche market

USAA serves only the military families of United States which gives them a very big
advantage. The Company restricts its products and services to the target group only.
When it comes to brand awareness, the $155 billion insurance has beaten all its
competitors. According to Raddon research, 83% customers of USAA gets additional
financial benefits. It was founded in the year 1922 by a group military personnel to
insure each other’s cars. It has expanded into home and life insurance and mutual
funds. As mentioned above the company only serves military families which gives the
company a tremendous focus and lends it a great competitive advantage. Members
who are the part of this company use a wide array of services such as including credit
cards, checking accounts and saving accounts.

Technology innovator

USAA offers many services including a mix of insurance, financial management,

mortgage, and auto loan and banking services, almost through virtual networks such as
mobile devices and web. Most of the centers of the company are nearer to the military
bases which are regulated through remote access technology and videos in order to
expand the business at minimum cost. Now USAA is working in the projects to facilitate
one to one video, web bandwidth agility, data analytics, contextual web marketing and
voice automated response. The online banking sites looks more like an app and the
company is attempting in making the mobile phones and tablets to be the banking
channels in its own way. 93% of USAA's total member base was digitally active in 2018.
USAA members launched the organization’s virtual agent, EVA, 34M times in 2018. On
a monthly basis, 2.2M members exclusively use mobile; a 27% increase over 2017. In
2018, USAA Labs had 7,600+ employee submissions and implemented 1,172+ new
ideas to the benefit of members and employees. 87% of employees participated in
employee innovation in 2018. USAA helps stop 13M+ cyber-attacks and prevents $11.1
million in fraud loss daily.

Weakness

International growth restrictions

The Company only focuses on giving the insurance plans to the military families. As the
company is only targeted to a particular group of people or customers it leaves it with
little or no scope for expansion and increasing its customer base. The sole objective of
the company is to reach out to all the military forces, officials and its families, provide for
them and besides that it doesn’t have much opportunity for expansion. There are many
competitors which are arising in the financial sector so now even if the company wishes
to expand and give service to the common people other than the military forces and
their families then they have to overcome many regulatory and legal hurdles to emerge
as a commercial financing company for the common people.

Financial planning not done properly

The financial planning is not done properly and effectively. The current asset ratio is the
indicator of a company’s ability to pay its obligations in the short term. Current assets
divided by current liabilities are those which are receivable or payable that arises in the
normal operating cycle or within 12 months after the reporting period. Whereas the
quick liquidity ratio is the supplement of current assets and considers more liquid
current assets such as cash and cash equivalents. That is why inventories are not
considered while calculating the quick assets. The company can use its money and can
use its monetary assets in making more investments in the new inventories.

No online presence
The Company doesn’t use social media which can help in the advancement of the
marketing strategies laid by the company. In recent times, the company is mulling to
increase its engagement and dialogue through social media. Through these they are
now able to increase their targeting capabilities. Video chat is just an example of recent
innovations USAA has implemented ahead of its competitors to accommodate
communications for its highly stressful and busy military forces and their families. Since
its members tend to need remote access to financial products earlier and more often
than civilians, USAA dives into new technology by necessity. USAA tried innovations
such as mobile check deposit and Web banking early on to bring financial management
and transactions to soldiers in the field. The firm has a long-standing tradition of early
adoption, and was a quick mover into older remote access modes such as phone
banking. USAA has also developed a mobile app for visually impaired persons. The
mobile application speaks during the check deposit process and guides users through
the program that's available on iOS and Android devices. It's a step beyond stand-alone
automated ATMs that customers can plug headphones into or use the Braille enabled
keypad

Opportunities

Partnership and alliance

As USAA is already an established company it has strong ground to grow via

partnerships and alliances. In 2018 alliance happened between USAA and the largest
full-service business and home security company in the U.S Protection 1. Protection 1
has been awarded a contract that gives USAA’s more than 10 million members access
to security and life-safety solutions through its established partner programs. Protection
1 offers members a suite of additional home security solutions while providing world
class customer service that USAA’s members expect from their alliance relationships.
The relationship with Protection 1 allows them to expand valuable solutions and
services in the innovative and fast-moving industry with another premier provider.”
Victoria Capital (VCTR) and USAA on November 2018, has announced that Victoria
Capital has entered into a definitive purchase agreement to acquire USAA Asset
Management Company (which includes its Mutual Fund and ETF businesses and USAA
529 College Savings Plan).
Membership expansion

USAA is a fully established financial services company. They have built their reputation
by catering only to the needs of prior and current military and their dependents. They
can consider expanding membership opportunities or providing additional services in
order to increase revenue. Now the company is including the military retirees regardless
of when they have retired. Even the widows or widowers of the military personnel who
were killed in some war or military expeditions are also being included in the
membership. It has also included military personnel who were honorably discharged on
or after Jan 1, 1996. At USAA’s Home Office in San Antonio, 1,500 insurance and
information technology staff will soon relocate to newly constructed space nearby at the
Vista Corporate Center and in West Ridge. USAA currently employs nearly 19,000 in
the area. In Plano, the project will create a new 150,000-sq.-ft. office building adjacent
to USAA’s existing building in the Legacy Corporate Center. It will provide room for 850
workers when completed in early 2019.

Threats

Cyber security threat

Operating in the insurance business, USSA needs to store, process and transmit a
large amount of data which includes the information about the members associated with
the company. This member data is sensitive and confidential and most transactional
operations are done using analytics. In doing so the Company employs its in-house
technology and at time technology from third party vendors. Unauthorized disclosure of
data or leakage of data is possible in many ways such as system failure, employee
negligence, fraud and misappropriation or unauthorized access into the system by the
employees of the company or the other third parties including cyber-attacks by hackers.
Such a disclosure, harm, security breach or system failure can lead to the loss of
reputation of the company with significant monetary losses and damage, litigation,
negative publicity, fines, criminal prosecution etc.
In March 2010, USAA Federal bank notified the Maryland Attorney General’s Office of
an incident involving unauthorized access to and misuse of customer data that occurred
on February 23. According to their notification, the fraud was traced back to an
employee of an unnamed third party vendor. The vendor reportedly assured USAA that
the employee was terminated on February 24. USAA notified both the Maine Attorney
General’s Office and the Maryland Attorney General’s Office that an employee of a third
party vendor had compromised a customer’s account on April 8. In their report to
Maryland, they note that this incident was related to the incident report that they had
filed in March.

Government regulations

The development of the Resolution Plan leverages the existing business-as-usual

(BAU) FSB governance structure, risk management principles and control processes.
These governance principles and processes serve as the basis and foundation in which
FSB scopes, resources and executes the completion of its Resolution Plan. In
developing FSB’s Resolution Plan, senior management of USAA worked with the
Bank’s central project team to focus on different elements of the IDI requirements stated
in the rule. A working group, consisting of senior members of FSB’s Management team,
was established to facilitate the development of the resolution strategies. Along with the
Executive Sponsor, this group was charged with the task of ensuring the strategy
development and considerations were aligned with the underlying assumptions. The
working group also provided feedback and guidance to the work streams over the
course of the project, in order to validate and refine the content of the Resolution Plan
during its development and completion. In addition, FSB business lines, legal counsel,
supporting functions and operations groups provided assistance in data gathering,
analysis, and drafting of content for this Resolution Plan. As subject matter experts in
their particular area of business or support function, these groups are essential to the
resolution planning process, participating in strategy sessions and team discussions,
while also providing ideas and recommendations for the tactical implications of each
Plan requirement for their respective area.
Economic fluctuations

In raising short-term interest rates in mid-December, the Fed (federal Reserve Board)
followed its goal of three rate hikes in 2017. With some disturbances in the U.S
economic scenario Fed has increase the rates in 2018. This has impacted the share
and the bond markets. But while the Fed controls rates for Treasuries with very short
maturities, the rates on longer-term bonds are determined by the market. Lowering the
corporate tax rate from 35% to 21% would provide significant cash flow and bottom-line
boost, as would a low one-time tax on trillions of dollars in profits now held overseas.
These events would, however, be priced in fairly quickly, so the result may only be a
short-term jolt for share prices. We may be seeing that jolt now — in the fourth quarter
through mid-December, the Standard & Poor’s 500 (S&P 500) index was up more than
6.5%.

PESTEL Analysis

Political Economic

● Government system ● Inflation rate

● Armed conflict ● Economic performance of USAA
case name

Social Technology

● Demographics ● Technological advancement

● Impact of technology

Environment Legal

● Climatic change ● Intellectual property laws

● Discrimination laws
Political

Government system

A lot of changes and transitions are due in the government in the near future which will
impact the market in major ways. USAA has to be prepared to face these changes as it
can lead to change in priorities in the sector. Over the last few years the company has
benefitted from low taxation policies laid by the government throughout the western
countries. It has earned great profits for the company and USAA has spent a huge
amount of money in research and development. Based on some data in the resource
allocation there won’t be much change. The present governance system is undergoing
a lot of changes for which the company has to keep an eye on it to overcome any
hurdles. Few government regulations have been issued but are not yet effective for the
company such as

According to ASU 2014-09 establishes a principles-based model under which revenue

from a contract is allocated to the distinct performance obligations within the contract
and recognized in income as each performance obligation is satisfied. The guidance
also requires improved disclosures to help users of financial statements better
understand the nature, amount, timing, and uncertainty of revenue that is recognized.
The ASU does not apply to rights or obligations associated with financial instruments
(for example, interest income from loans or investments, or interest expense on debt). It
also does not apply to insurance or lease contracts. The ASU allows for two adoption
methods: either, (1) a company will apply the rules to all contracts existing in all
reporting periods presented, subject to certain allowable exceptions; or, (2) the modified
retrospective method where a company will apply the rules to all contracts existing as of
January 1, recognizing in beginning retained earnings an adjustment for the cumulative
effect of the change and providing additional disclosures comparing results to previous
rules. The ASU is effective for annual reporting periods beginning after December 15,
2017, including interim reporting periods within that reporting period. The standard was
adopted as of January 1, 2018. Adoption of the ASU will have no financial impact.
Under ASU 2016-02 lessees will be required to recognize the following for all leases
(with the exception of short-term leases) at the commencement date: (1) a lease
liability, which is a lessee's obligation to make lease payments arising from a lease,
measured on a discounted basis; and (2) a right-of-use asset, which is an asset that
represents the lessee's right to use, or control the use of, a specified asset for the lease
term. Under the new guidance, lessor accounting is largely unchanged. Certain targeted
improvements were made to align, where necessary, lessor accounting with the lessee
accounting model and Topic 606, Revenue from Contracts with Customers. The new
lease guidance simplified the accounting for sale and leaseback transactions primarily
because lessees must recognize lease assets and lease liabilities. Lessees will no
longer be provided with a source of off-balance sheet financing. The ASU is effective for
annual reporting periods beginning after December 15, 2018, including interim reporting
periods within that reporting period. We continue to evaluate the impact of the ASU and
available adoption methods. We are in the diagnostic phase of our evaluation, which
includes the application of new requirements in the ASU to sample lease agreements
and the formulation of plans to modify current accounting policies and expand financial
The easy liquidity in the market post the great recession of 2018 will lead to increasing
inflation in the USAA markets. It can impact the USAA consumers. Modest inflation is
good for stocks for two main reasons. First, inflation gives companies good pricing
power. It lets companies raise their prices without squashing demand from consumers
and business customers. Higher prices boost revenues.

Statement disclosures as needed. The financial impact of adopting the ASU is yet to be
determined. Implementation efforts for the ASU are on target for adoption by the
effective date

https://www.sec.gov/Archives/edgar/vprr/1800/18005956.pdf
Economic

Rising Inflation rate

The second positive about the CPI is that it’s within the Fed’s (Federal Reserve Board)
target of 2%. A CPI significantly above 2% would raise fears of strong wage inflation,
which would hurt corporate revenues. It would also suggest that the Fed would raise its
target for short-term interest rates more aggressively than expected in 2018. That, in
turn, would raise fears of a recession and a market decline. Inflation is one part of a
larger story that can support stocks. Corporate earnings are moving higher, and labor
productivity is on the verge of improving significantly. Historically, there’s a strong
correlation between the direction of earnings and the direction of the stock market. They
tend to move in the same direction.

Economic performance of USAA investments

Domestic equities fell sharply during the fourth quarter, leaving major indices with
losses for calendar year 2018. The downward trend for stocks began in October on
concerns that the U.S. Federal Reserve (the Fed) would exceed expectations with
respect to the pace of interest rate increases in 2019. In addition, uncertainty
surrounding U.S. trade policy, the U.S. government shutdown, and a softer outlook for
2019 economic growth and corporate earnings weighed on investor sentiment into year
end. While the Fed raised the benchmark overnight lending rate by a quarter point in
mid-December to the 2.25% to 2.5% range, the central bank signaled that, if anything,
its rate hike plans for the coming year would most likely be scaled back. On the trade
front, despite initial positive reports coming from the G-20 summit, investors questioned
whether additional progress on trade would be made before the March 1 deadline.
Lastly, as investors moved into more defensive sectors during the past three months,
value stocks outpaced growth stocks. Against this backdrop, the USAA Growth &
Income Fund posted disappointing quarterly performance.
Social

Marketing products based on demographic interests and suitability

The demographics of the population, meaning their respective ages and genders, vastly
impact whether or not a certain product may be marketed to them. Makeup is mostly
catered to women, so targeting a majority of male population would mean lesser
numbers than targeting a population that is mostly female. USAA would be unable to
promote a premium product to the general public if the majority of the population was a
lower class; rather, they would have to rely on very niche marketing. To some extent,
the differences in educational background between the marketers and the target market
may make it difficult to relate to and draw in the target market effectively. USAA should
be very careful not to lose the connection to the target market's interests and priorities.
USAA needs to be fully aware of what level of health standards, reactions to
harassment claims and importance of environmental protection prevail in the industry as
a whole, and these are expected from any company as they are seen as a norm.

Technological

Keeping tab of technological advancement

Technology can rapidly dismantle the price structure and competitive landscape of an
industry in a very short amount of time. It thus becomes extremely important to
constantly and consistently innovate, not only for the sake of maximizing possible profits
and becoming a market leader, but also to prevent obsolescence in the near future. The
recent technological developments and breakthroughs made by competitors, as
mentioned above. If USAA encounters a new technology that is gaining popularity in the
industry in question, it is important to monitor the level of popularity and how quickly it is
growing and disrupting its competitors’ revenues. This would translate to the level of
urgency required to adequately respond to the innovation, either by matching the
technology or finding an innovative alternative.
Employing digital methods to communicate with consumers

The impact of the technology on the costs that most companies in the industry are
subject to have the potential to increase or reduce the resulting profits greatly. If these
profits are great in number, they may be reinvested into the research and development
wing, where future technological innovations would further raise the level of profits, and
so on, ensuring sustainable profits over a long period of time. USAA offers many
services including a mix of insurance, financial management, mortgage, and auto loan
and banking services, almost through virtual networks such as mobile devices and web.
Most of the centers of the company are nearer to the military bases which are regulated
through remote access technology and videos in order to expand the business at
minimum cost. Now USAA is working in the projects to facilitate one to one video, web
bandwidth agility, data analytics, contextual web marketing and voice automated
response. The online banking sites looks more like an app and the company is
attempting in making the mobile phones and tablets to be the banking channels in its
own way. 93% of USAA's total member base was digitally active in 2018. USAA
members launched the organization’s virtual agent, EVA, 34M times in 2018. On a
monthly basis, 2.2M members exclusively use mobile; a 27% increase over 2017. In
2018, USAA Labs had 7,600+ employee submissions and implemented 1,172+ new
ideas to the benefit of members and employees. 87% of employees participated in
employee innovation in 2018. USAA helps stop 13M+ cyber-attacks and prevents $11.1
million in fraud loss daily.

Along with cutting down operational costs and ensuring fast, reliable, and secure
applications, blockchain has the potential to disrupt existing business models in
several ways.

 With blockchain, the distributed ledger technology (DLT) which ensures that
digital data is safe, there are fewer chances of identity theft or fraud (e.g.
Everledger, BlockVerify). In the US, insurance fraud is estimated to be over
$80 million and, in the UK, it is around £2.1 billion.
 This is the surest way to better customer experience, especially to deal with
irritated customers expected to submit some zillion documents (say, KYC)
many times. Automating processes such as validating identity, health and
police records, etc. not only reduces admin costs but also improves customer
engagement.

 Insurance companies are leveraging bitcoin as loyalty and reward programs.

For both the providers and the customers who do not want to compromise
competitiveness or privacy, respectively, such systems enabled by blockchain
make it a seamless, cost-effective, and rewarding experience.

 Decentralized blockchain makes it easier to authenticate transactions,

policies, and customers. Companies such as Nephila Capital and Allianz are
using smart contract technology to process claims and fast. With blockchain,
they can ensure underwriting and catastrophe risk trading are more efficient.

IoT devices, sensors, and telematics have been fast gaining adoption in t he
insurance sector. Several data streams and sources (wearables, sensors
embedded in vehicles, location-based sensors, GIS) coupled with advanced
analytics can help insurers improve risk assessment, price policies based on real
data in real time, and proactively encourage customers to buy policies for loss
prevention.

 More usage-based insurance models for connected vehicles and precise

actuarial models are expected with the huge amounts of data (or
touchpoints) available thanks to today’s amazingly connected world. In the
auto insurance sector, for example, the data (speed, time, braking
patterns, distance) gives buyers more say in their premiums; risky driving
patterns can serve as warning signs.

 Companies such as Aviva and State Farm urge customers to invest in

home sensors (others such as FitSense deal with fit tech to help insurers),
incentivizing them to help prevent risk to self (e.g. elderly care) and
property. For example, Neos Ventures, UK’s first connected home
 insurance specialist, provides preventative smart technology as part of the
policy.

Environmental

USAA’s Commitment towards the environment is

Taking care of our members means taking care of the communities where we operate.
This includes adopting greener business practices while staying mindful of our fiscal
responsibility to the membership. Sustainability can improve the health and mood of
those in the community.

See how we're making a difference.

They have recycled over 8 million pounds in 2017 — that's more than 1,700 Ford
F150s.
By using green containers in their cafes, they have kept 6,446,840 Styrofoam
containers out of the landfill every year.
Ride sharing and mass transit programs in regional locations have helped their
employees’ drive 6,876,781 fewer miles in 2017.
Employees have saved 334,754 gallons of gas and $3.6 million on overall
transportation costs in 2017.
In 2017, they have delivered over 300 million online documents, costing around $3
million. Sending more than 8 billion pages electronically saved more than 650,000
trees.

They have mailed over 168 million paper documents at a cost of about $118.4 million.
USAA saves more than 130 million gallons of Edwards Aquifer water a year through
recycling efforts at our home office.

They've used recycled water on their landscaping since 2004, saving 70 million gallons
annually, and they have now utilized recycled water for their building's cooling towers,
conserving another 60 million gallons per year.
That's the equivalent of 10 feet of water across more than 350 basketball courts.
In 2017, they had energy savings of 4.8%, or 7.7 million kilowatt hours. That's the
same as the annual energy usage of 715 single-family homes. The McDermott
Building, their headquarters in San Antonio, is the largest financial office building in
America to earn the ENERGY STAR certification award from the U.S. Environmental
Protection Agency.

https://www.usaa.com/inet/wc/about-usaa-environmental-commitment

Legal

USAA in 2017 has faced a $1.8 million verdict by a South Texas jury after one of its
customers — who is a litigation attorney — won a lawsuit that accused the company of
fraud stemming from a disputed hail storm damage claim.

John Griffith — principal of The Griffith Law Group, a McAllen-based firm — filed the
lawsuit in Hidalgo County District Court against Texas Lloyd's Co., which is a subsidiary
of USAA, alongside Boerne insurance adjuster AllCat Claims Service LP. The lawsuit
claimed the defendants intentionally undervalued the cost of damages to his home
during the inspection process. Griffiths’ attorney — Gregory Cox at Mostyn Law, a firm
headquartered in Houston — suggested that it's a systematic issue at USAA.

The jury verdict, which is related to a storm in 2012, comes as the San Antonio-based
insurance company has been dealing with an influx of insurance claims after a Texas
hail storm in 2016 damaged many homes and vehicles in Bexar County.

The jury decided that USAA, which serves members of the military and their
dependents, didn't follow its own homeowner’s insurance policy, engaged in deceptive
acts or practices, and failed to produce a prompt, fair and equitable settlement of the
claim. Moreover, the jury determined that the company knowingly made false
statements.
References:

 https://communities.usaa.com/t5/Market-Commentary/Inflation-Report-Looming-
Rise-in-Labor-Appear-Positive-for-Bull/ba-p/167515
 https://communities.usaa.com/t5/Market-Commentary/2018-Investment-
Outlook/ba-p/155345
 https://www.usaa.com/inet/wc/mc_0037
 https://communities.usaa.com/t5/Market-Commentary/Global-Growth-Is-
Complicated-for-Commodities/ba-p/148265
 https://www.americanbanker.com/news/usaa-ordered-to-improve-risk-
management-information-security
 https://www.thezebra.com/insurance-news/3996/government-affect-pay-car-
insurance/
 https://www.fdic.gov/regulations/reform/resplans/plans/usaa-idi-1512.pdf
 https://content.usaa.com/mcontent/static_assets/Media/usaa_directors_code_of_
conduct.pdf?cacheid=426744735_p
 https://communities.usaa.com/t5/Market-Commentary/2018-Investment-
Outlook/ba-p/155345
 https://www.businesswire.com/news/home/20150105005901/en/Protection-1-
Joins-USAA-Strategic-Alliance-Relationship
 https://thefinancialbrand.com/75192/usaa-financial-brand-loyalty-customer-
satisfaction/
 https://content.usaa.com/mcontent/static_assets/Media/mf_arpt_37732.pdf
 https://thefinancialbrand.com/75192/usaa-financial-brand-loyalty-customer-
satisfaction/
 https://moneyinc.com/usaa/
 https://www.usaa.com/inet/wc/advice-real-estate-technology-changing-home-
buying?akredirect=true
 https://www.americanbanker.com/news/how-usaa-innovates-online-banking
 https://www.bizjournals.com/sanantonio/news/2016/07/12/usaa-crafts-
smartphone-app-technology-for-visually.html
 https://rctom.hbs.org/submission/usaa-a-leader-in-financial-services-digitization/
 https://www.fdic.gov/regulations/reform/resplans/plans/usaa-idi-1807.pdf
 https://unmetric.com/brands/usaa
 https://www.businesswire.com/news/home/20080811005080/en/USAA-Expands-
Membership-Eligibility
 https://communities.usaa.com/t5/USAA-News/USAA-to-Expand-Offices-Staff-for-
Growing-Membership/ba-p/135990
 https://content.usaa.com/mcontent/static_assets/Media/USAA_Fact_Sheet_By_t
he_numbers.pdf?cacheid=1627376398_p
 https://bucks.blogs.nytimes.com/2009/11/05/usaa-an-insurance-club-that-just-
got-bigger/
 https://www.sfchronicle.com/business/local/article/USAA-expands-board-
eligibility-13186302.php