Joe Robles, President and CEO of USAA, discusses the company’s unique business model that has allowed unprecedented company growth over the past few decades. Once a small company dedicated to offering automobile insurance to fellow army soldiers, has grown to offer complete financial services including include a life insurance sector, property and casualty insurance, investments division, and a bank, with all divisions sharing common goals, culture, and values. Such an integrated business model was foreign to the financial services industry at the time, but as Robles explains, the company forefathers saw a huge opportunity to offer a multitude of services under one shared brand.
Another differentiating factor of USAA is their products and services are exclusive to the active and retired US military members, along with their family members, along with select government bodies as well. Robles goes on to say he calls his customers, members, for they are part of an exclusive association, thus should have an exclusive standing. Joe explains USAA’s mission has always been to help their members with financial security to achieve their financial goals and aspirations. With an influx of military members returning from overseas duty, Robles explains why CEO’s should consider hiring veterans. He says they live by core values, similar to company core values, are honorable and disciplined hard workers.
After 25 years with this integrated and innovative structure, USAA has grown to more than 9 million members, and continues to look for ways to help military soldiers and their families achieve success. Click here to watch this week’s CEO TV Show and learn how Robles has capitalized his business by exceling in a niche market.