With all the hype surrounding new internet insurance companies, what was an age-old tradition, became a price war. Two decades ago, one would split open the yellow pages, look under “Insurance,” and thumb one’s way down to whoever was going to earn your business potentially. Then came the internet.
Since the dawn of the internet, digital business listings, social media marketing, and online paid ad space became a massive industry for the small business owner. Local insurance agents were no different. However, the industry being as saturated as it was, led to many agents getting lost in the world of digital marketing. Agents began to turn to sites like Yelp and Facebook for more “local” advertising.
Once those “local” outlets became not enough, the Insurance Lead Provider became a thing of joy. Insurance Agents would partner with internet companies that built a business out of aggregating insurance.
Then collect shopper info and sell that info on a per lead basis to the local agent. What a great concept! We can connect with a person in our zip code, actively looking for insurance—all at a minimal cost of what we could potentially recover later.
Now here is the catch. The factor that insurance agents failed to recognize is that since those shoppers are online, they are incredibly price-conscious. Most local insurance agents cannot compete on price and price alone. At the same time, 83% of insurance online insurance shoppers agree that they have no understanding of the coverage, terms, and actual cost of their insurance policies. One thing they do know is “they got the best price.”
Internet insurance companies and local insurance brokers know that if your shopper has only educated on price. Insurance agents now understood, they were playing the wrong game. That is where Insurance Lead HQ has revolutionized the insurance lead sector.
“What we find is that most insurance agents who are buying leads because they don’t know what to do. To them, it is a number’s game,” says the CEO & Founder of Insurance Lead HQ. “It’s a game of darts wherever the sole goal is to hit the bullseye once, and you’ve got endless darts to try and do. However, if you are not very good at hitting the bullseye and each dart costs you $25 unless the prize for the bullseye is over $1,000. what’s the point?”
Type of Insurance Lead HQ recognizes that a lack of sales training and agency development leads insurance agents to spend countless dollars on insurance leads, which then pan out too little or no ROI. Where Insurance Lead HQ is changing the game is by providing a platform to not only train agents and their sales staff on how to source more leads, but also close more deals. Also, their Agency Development Platform helps insurance agents increase their annual insurance premium revenues and earn more customer retention.
“Only 32% of insurance agents feel they have a solid sales process and training in place. We have found that an insurance agent buying costly internet leads and only producing 25 policies a month, and an agent who does not buy leads but produces over 100 policies per month. It is as simple as that. Training & Process is such a key development to a business that most agents think having an agency is answering a call at midnight for a client whose car was found their, or fielding customer calls in the office, but it’s quite the opposite. Our most successful partners spend more time working ON their business instead of IN their business.”
Insurance Lead HQ” was established in 2016 as a sales training program. In the last 12 months has grown into a full-scale platform as a service (PaaS) for local insurance agents. They currently work with over 250 partners across the USA, have hopes of expanding in the coming months. “The coronavirus poses a severe challenge to us. A lot of insurance agents will be experiencing a loss of insurance premium renewal revenue. Due to the 10-25% discount, insurance carriers are providing their current customers. We feel many agents will reach out to us to learn more about our partnerships. Also, how we accomplished the goals we have for those partners and determine if we can help them.
Buying internet leads was once the future but is now past. The current model for insurance agents is finding a partner to help develop their agency. Also, to train their salespeople and allow the insurance agent to focus on growing and scaling the business. To learn, he/she could click the link below to their website to get more info.