USAA: Lessons Learned & Innovative Collaboration

[Pages:37]USAA: Lessons Learned & Innovative Collaboration

Jack M Antonini

Overview

Key Lessons Learned

Decide what is most important & communicate it

Key Result Areas Member Service

Listen to your Members/Customers and Employees Leverage Information you already have Life Event Marketing Focus on Cross-Selling more products to existing

members

Overview

Innovative Collaboration

Members are your best asset

Simply "customers" to banks, from which they earn profits

Bank reputations have suffered ... CUs are highest regarded!

Leverage Membership

Deliver added value through CU industry collaboration Negotiate better service & rates for entire group

Work together to meet Life Event needs

Overview

Listen, Learn & Improve

Listen to your members

Learn from mistakes / problems Conduct Member Forums or Focus Groups Invite feedback

Think about it from your member's perspective

What does your member experience when ... How would you like to be treated How can you make it: Faster, Easier, Lower Cost

End Result & Why It Worked at USAA

USAA

Incredible Record of Achievement

94% of USAA Members plan to be Lifelong Members Only P&C Insurer to have highest ratings from all

three rating agencies 24% operating expense ratio vs. industry avg. of 40%

Unparalleled Service & Value

Ranked #1 ? 2009 Customer Service Hall of Fame Highest scores from JD Power

"Best Bank in America" ? Money Magazine

USAA Historical Perspective

What McD built

$200 million P&C Ins. Co. with small new Life Ins. Co. Most successful integrated financial services co in US

$30 billion in assets Highest Ratings (from Moodys, S&P and AM Best) Highest Customer Service Satisfaction

Awards & Recognition

Best Company to Work For in America Best Bank in America One of 20 Best of the Best in Customer Service

USAA Historical Perspective

Significant Insights under McD

Life Events "Golden Rule" Service Strategic Preparation

o Vision 2000 in 1985 o Technology ? ATG, Image, Customer Convenient and

Operator Efficient

Think about everything from a member's perspective

Processes ? don't "pave the cow path" Contracts/Forms ? simplify, pre-fill info already known Ask your customers ? really listen to what they say

USAA ? Developing A Vision for the Future

Key Considerations:

Owned by members Provide products & services members want/need Only offer products & services that Add Value Key Result Area priorities Synergies within USAA Strengthen relationship with member

Started by Asking Members

Commitment to Outstanding Service

Criteria applied to all strategic opportunities

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