USAA News

Progressive, Travelers, USAA Latest to Offer Insureds Discounts, Other Accommodations

More insurers are coming forward every day with discounts, extended coverage and relaxed payment terms for insureds affected by shelter-in-place and other conditions required during the coronavirus crisis. Progressive Insurance announced it is providing approximately $1 billion to its drivers …

Fargo Appointed Chairman of USAA in San Antonio

Retired U.S. Navy Adm. Thomas B. Fargo has been named chairman of San Antonio-based USAA. Adm. Fargo is the financial services and insurance group’s 22nd chairman. He succeeds retired U.S. Air Force Gen. Lester L. Lyles, who is leaving USAA’s …

Charles Schwab Eyes Purchase of USAA Wealth Management, Brokerage Units: WSJ

Charles Schwab Corp. is in talks to buy brokerage and wealth-management operations from USAA for about $2 billion, the Wall Street Journal reported on Monday, citing people familiar with the matter. The deal, which could bring Schwab roughly $100 billion …

Morgan Stanley: State Farm, Allstate Largest Insurers Exposed to Alaska Quake

State Farm, Allstate and USAA have the lion’s share of exposure from the magnitude 7.0 earthquake that struck Alaska on Nov. 30, according to a Morgan Stanley Research brief put out on Monday. The epicenter was roughly 7 miles north …

Startups Selected for Inaugural InsurTech Acceleration Program in Hartford

Hartford InsurTech Hub, an initiative established in 2017 by Hartford, Conn.-based insurance companies, the city of Hartford and CTNext, has selected the 2018 group of 11 startups that will participate in its inaugural acceleration program, The InsurTech Accelerator. Hartford InsurTech …

USAA Among Backers of Home Water Damage Prevention Startup Flo

Flo Technologies has unveiled Flo, an intelligent home water monitoring and conservation system that promises to help reduce water damage insurance claims. The startup has raised a total of $11.5 million from investors led by Crosslink Capital with participation from …

Startupbootcamp Launches Insurtech Accelerator in Hartford

Startupbootcamp, a London-based insurance accelerator that focuses on identifying globally-located disruptive and collaborative insurance and technology innovations, has announced the launch of its new InsurTech Accelerator in Hartford, Conn., designed specifically to rapidly scale insurance-focused technology startups. The InsurTech Accelerator, …

More Insurers Disclosing Climate Change Risks, Report Shows

Insurers in the U.S. are increasingly willing to disclose their risk management practices related to climate change, and that in part may be attributable to last year’s global accord in Paris and shifting attitudes in the business world on the …

Internet of Things Is Industry Disruptor that Could Benefit Innovators: Efma Report

The steady advance of the internet of things (IoT) presents a huge number of opportunities for insurers – as well as threats, according to a digest published by Efma*. The rise in connected homes, connected cars and the use of …

Winners of 1st Innovation in Insurance Awards Are ‘Change Leaders’

The winners of the first annual Innovation in Insurance awards include Allianz, AXA, Europ Assistance, MS&AD Insurance, and USAA. The program, jointly launched by Efma and Accenture, seeks to reward and foster innovation in the industry, and recognizes the most …