With all the hype surrounding new internet insurance companies, 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 could potentially earn your business. Then came the internet.
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Since the dawn of the internet, digital business listings, social media marketing, and online paid ad space have become a massive industry for small business owners. Local insurance agents were the same. However, the industry is more saturated than it was, leading many agents to get lost in the digital marketing world. Agents began to turn to sites like Yelp and Facebook for more “local” advertising.
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Once those “local” outlets became insufficient, the Insurance Lead Provider became joyful. 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 recover later.
Now here is the catch. Insurance agents should have recognized that they are incredibly price-conscious since those shoppers are online. Most local insurance agents need help to compete on price and price. Simultaneously, 83% of online insurance shoppers agree that they need help understanding the need to understand their insurance policies coverage, terms, and actual cost. One thing they do know is “they got the best price.”
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Internet insurance companies and local insurance brokers know that if your shopper has only been 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.
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“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 bullseye price is over $1,000. what’s the point?”
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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 pan out with too little or no ROI. Insurance Lead HQ is changing the game by providing a platform to train agents and their sales staff to source more leads and close more deals. Also, their Agency Development Platform helps insurance agents increase their annual insurance premium revenues and earn more customer retention.
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“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.”
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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 to expand in the coming months. “The coronavirus poses a severe challenge to us. Many insurance agents will be experiencing a loss of insurance premium renewal revenue. Due to the 10-25% discount, insurance carriers provide their current customers. Many agents will contact us to learn more about our partnerships. Also, we have accomplished the goals for those partners and have determined if we can help them.
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Buying internet leads was once the future, but it 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, they could click the link below to their website for more information.