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How to Generate Insurance Leads: Best Lead Generation Strategies

The competitive insurance industry makes it challenging for businesses to stand out without a scalable lead-generation strategy. Luckily, you can learn how to get insurance leads to grow your business’s revenue and establish a good industry reputation.

This guide covers the following:

Discover how insurance agents can improve company lead-generation efforts by purchasing leads. Familiarize yourself with insurance lead generation types and find the best platforms offering insurance leads for businesses.

What are Insurance Leads?

Prospects expressing an interest in purchasing insurance services from a company are insurance leads. Warm insurance leads are interested in specific insurance types and have a high potential to become future customers. Cold insurance leads are unfamiliar with the types of insurance and aren’t ready to purchase services immediately.

Why Do Insurance Agents Have to Buy Leads?

An insurance agent’s salary and bonuses are based on the number of conversions they achieve monthly. Sometimes, they struggle to find fresh leads likely to convert, so they purchase lead lists to reach their targets and make more money.

Types of Insurance Lead Generation

Companies can purchase different types of insurance leads based on their specialty. Lead generation campaigns are not the same and differ depending on a company’s target market’s needs and preferences.

Commercial Insurance Lead Generation

This type of insurance lead generation focuses on protecting businesses from legal troubles, property damage, or employee complaints. Commercial insurance leads include insurance agency decision-makers like owners.

Home Insurance Lead Generation

Home insurance lead generation protects homeowners or renters against property damage and burglaries. Their landlords usually suggest that they purchase this type of insurance, making them home insurance leads.

Social Insurance Leads

Individuals who want to protect themselves from economic instability because they lost their jobs or have fallen ill need to buy social insurance. They are called social insurance leads and rely on this type of insurance to give them social security in their residing state.

Health Insurance Leads

Most employers provide health insurance to their employees, which makes them health insurance leads. This type of insurance helps employees cover medical expenses in case of surgeries and other emergencies.

Life Insurance Lead Generation

52% of Americans have life insurance policies. Many people want to purchase them to provide financial security to their loved ones in case they die unexpectedly. This lead generation type requires insurance agents to garner accurate personal information to qualify the life insurance leads.

7 Tips on Generating Insurance Leads

An insurance business needs a constant and steady stream of new customers to continue growing and improving. While most conduct cold calling efforts for this purpose, they can also rely on insurance lead generation to make this process easier and faster. 

Insurance agents can generate leads in several ways:

1. Ask for Referrals

Existing customers satisfied with your insurance offers will likely refer you to others, including family and friends, who need the same solutions. You can also actively ask them for referrals interested in the benefits of your offer to create a referral program, foster client relationships, and grow your database.

2. Be Active in Your Community

Networking is a great way for insurance businesses to meet industry professionals and develop partnerships. If you actively engage in networking activities and employ lead generation tactics like community outreach, many opportunities for generating leads can arise.

3. Buy Third-Party Insurance Leads

Many online websites offer insurance agencies fresh lead lists in exchange for a monthly fee. These leads might have never heard about your services before. However, platforms use analytics tools to identify people with experience and expertise in the insurance industry who can likely become converting leads.

Buy niche-specific and conversion-focused email leads here.

4. Conduct Your Own Marketing and Lead Generation

Some businesses invest in advertising and digital marketing, which are effective strategies for boosting an insurance lead-generation campaign. They leverage digital marketing techniques like targeted ads to target a specific audience and build a robust sales funnel.

5. Use a Lead Magnet

Lead magnets are free items or services insurance companies can offer on their website to attract potential leads. You can either choose one or group them together for more effective results. Commonly used lead magnets include:

  • Trial Subscriptions
  • Whitepapers
  • Newsletters
  • Free Consultations
  • Discounts
  • Free Shipping
  • Bundle Offers

6. Leverage Email Marketing

By creating an email list of relevant contacts, insurance agencies can reach out to potential leads and build trustworthy relationships. They can structure the emails with solid hooks and CTAs, including messages that resonate with the target audience to make them responsive and interested in their offers and convert them into buyers.

7. Host Webinars

Individuals or businesses interested in an agency’s insurance solutions are willing to participate in webinars. To get the webinar attendance link, they must give their email address to the insurance agency. This way, they can learn more about insurance offers and determine whether they meet their objectives.

Best Platforms to Get Insurance Leads

There’s no guarantee that an insurance agency’s consistent lead generation efforts will be worth it in the long run or how long insurance agents should wait before they witness positive results. For this reason, they can choose one of the following insurance lead-providing platforms:

1. BookYourData

Bookyourdata

Bookyourdata is an excellent choice for insurance companies purchasing lead lists with accurate contact information and affordable pricing. This platform’s expanded database offers access to 250M+ business contacts, attorneys, real estate agents, and healthcare professionals.

Features & Functionality

Bookyourdata offers global data coverage and can identify verified leads in over 200 countries. It provides advanced search filters and numerous lead list customization options to target specific industries.

Accuracy & Quality

This lead provider guarantees 97% accuracy and real-time email verification for clients who aim to reach the right prospects. It filters over 60K technology data points to provide qualified leads with high conversion chances.

Pricing & Conditions

Insurance companies looking to purchase leads in bulk will benefit from the discounts this platform offers. Bookyourdata is also known for its convenient pay-as-you-go pricing, which lets companies take complete control of their budget allowances. It provides ten free leads and charges $99/per month for 250 credits.

Client Experience & Testimonials

This platform offers dedicated customer support for insurance companies who need assistance during purchasing. Bookyourdata's clients consider its dashboard easy to navigate and appreciate its high-quality data.

Why should you purchase insurance leads from Bookyourdata?

Bookyourdata is a user-friendly platform that guarantees accurate and data-rich imports in customizable lead lists.

Reach prospects who are ready to buy

2. Ringy

Ringy

This CRM-integrated platform can track, manage, and organize insurance leads, providing accurate contact information to increase business scalability.

Features & Functionality

Ringy offers clients more sales opportunities thanks to its outsourcing capabilities and communication tracking features. Their automated lead-generation process helps insurance agents identify where each lead stands in the sales pipeline.

Accuracy & Quality

Their advanced customer segmentation tools and seamless AI integration make the lead-generation process more manageable for insurance companies. They allow insurance agents to find the most accurate contact information about prospects and identify them as qualified leads.

Pricing & Conditions

Ringy offers a free trial to allow businesses to try their services before committing to them fully. If they are satisfied with it, clients must pay $109/per month to get all the features this platform offers.

Client Experience & Testimonials

Ringy offers e-mail support on its website to make it easier for potential customers to reach them. Client reviews reveal this CRM’s ease of use. However, some complain about spending too much time finding targeted leads on this platform.

Why should you purchase insurance leads from Ringy?

Ringy eases the insurance lead generation process with its automated features and tools.

3. EngageBay

EngageBay

EngageBay is insurance CRM software that provides valuable leads for companies that aim to increase revenue and streamline their workflows.

Features & Functionality

Insurance companies can use EngageBay’s contact and task management tools to improve their lead-generation process. The platform also offers email tracking, analytics, and predictive scoring tools.

Accuracy & Quality

EngageBay’s email tracker can help insurance companies accurately evaluate the success of their email marketing campaigns. It also allows clients to pursue quality insurance leads from various channels.

Pricing & Conditions

This platform offers many features, even with the free pricing plan. However, insurance agencies can pay $55.24 per month to access over 5,000 contacts.

Client Experience & Testimonials

Their customer support is available for client service 24/7, and their interface is easy to use, which makes EngageBay an ideal option. Customers report satisfaction with the platform’s customization options but suggest improving the setup of email sequences.

Why should you purchase insurance leads from EngageBay?

If you want an easy-to-use, feature-rich platform for buying insurance leads, you can’t go wrong with EngageBay!

4. Freshsales

Freshsales

Similarly to EngageBay, Freshsales is a CRM that provides qualified insurance leads and tools to boost insurance agents’ productivity.

Features & Functionality

This AI-powered software obtains ready-to-buy leads and organizes customer data well. It automates repetitive tasks to simplify the sales process for insurance agents and provides them with a customized workflow for faster target reach.

Accuracy & Quality

The automated features of Freshsales help companies analyze data to ensure accuracy and focus the sales cycle on qualified leads.

Pricing & Conditions

The free trial lets insurance agencies acquire leads with Freshsales immediately. Their pricing plans start at $9 per month for startups and $59 per month for growing businesses.

Client Experience & Testimonials

In addition to the easy-to-reach website help, this platform offers an accessible CRM that anyone can learn how to use quickly. However, some customers claim that specific documentation Freshsales provides needs to be updated.

Why should you purchase insurance leads from Freshsales?

Enjoy this feature-dense software's benefits, like easy customer account access.

5. Keap

Keap

Keap automates an insurance business’s sales and marketing process. This insurance CRM software has impressive capabilities for driving businesses to success.

Features & Functionality

Keap helps insurance agents and brokers segment lead lists more efficiently and rely on automatic lead follow-up to increase sales. This CRM for insurance also provides many tools for effective and personalized outreach for sales efforts optimization.

Accuracy & Quality

This software accurately alerts insurance agents on areas they should focus on during their sales process. With proper customer information organization, it also lets them qualify prospects automatically.

Pricing & Conditions

Keap’s free trial is an excellent opportunity for insurance companies to determine if this software is the right choice for them. Accessing 5,000 contacts from this platform costs $249 per month. However, there are also pricing plans for $329 per month for 2,500 contacts and $499 per month for 5,000 contacts.

Client Experience & Testimonials

Their online chat and email support are always available for client inquiries and questions. Existing clients admire Keap’s automation and customization features but believe the pricing plans could be more cost-effective.

Why should you purchase insurance leads from Keap?

This platform eases the lead nurturing process and increases insurance sales conversions.

Best Insurance Lead Prospecting Tips

Insurance businesses can employ different lead-generation methods to improve prospecting efforts and increase revenue. By following the below-mentioned tips, you can place your business in front of your competitors:

Know Your Audience

Conduct market research and comprehensive analytics to identify your target market's pain points and interests. Determine what type of insurance policy they are interested in purchasing and which problems they aim to solve with your solution.

Evaluate the following factors when making your analysis:

  • Age
  • Gender
  • Job Title
  • Income Level
  • Geographic Location
  • Lifestyle Preferences
  • Interests
  • Values

Create a Value-Packed Website

To increase the number of your prospects and secure the success of your insurance lead generation campaign, you must offer valuable products or services on your website. You can also create compelling content for website visitors to discover industry standards and learn more about your offers.

Optimize for Search

Ensure your website content, like blog posts and articles, contains engaging topics for readers and includes commonly-searched keywords to rank higher on search engines. Insurance agencies can optimize SEO for lead generation to make them authoritative in the industry and trustworthy among clients. 

Make Videos

Utilize social media for prospecting by creating engaging videos. These can include interviews with industry experts or educational content about the insurance offers posted on social media platforms, like LinkedIn, to reach a wider audience.

Offer Interactive Tools

Use lead capture forms in a specific website section to encourage interaction with potential clients. These must be easily visible to prompt website visitors to fill in their contact information in exchange for freebies. Insurance agencies should also provide exceptional customer service to all visitors who solicit questions about the products or services.

Get Listed on Local Directories

Local search engine optimization strategies are proven to help insurance businesses get listed in local directories. For example, they can create a “Google My Business” profile and use local keywords to increase visibility and generate more sales leads.

Things to Consider Before Buying Leads for Insurance

Purchasing insurance leads has many benefits. However, this practice is only advantageous if insurance companies buy leads from websites that use credible sources and accurate data to create their lists. Here are a few considerations to keep in mind before buying leads for insurance:

False Information

Some websites that sell insurance leads might have misleading information on their pages to convince visitors of their excellent reputation. However, some providers may be unreliable, so it’s always important to browse online reviews and client testimonials before purchasing leads.

Lack of Contact Information

If an insurance lead provider’s website lacks interactive forms, customer service, or live chatbots, website visitors can’t get the information they need about the offer. Some online lead sellers don’t even have contact e-mail addresses in case unsatisfied customers want to reach them and ask for a refund.

No Guarantee of Quality

Look for insurance lead providers claiming to offer high-quality lead lists. Ask them how they source and qualify leads and whether they use outbound or inbound methods to make sure they prioritize quality instead of quantity.

Outdated Information

Finding a lead provider that sells only exclusive leads may be challenging. Some of these websites sell insurance lead lists that have been contacted or converted into customers by other clients.

Fake Contact Information

Certain websites providing insurance leads don’t use the proper tools and techniques to conduct market research and import accurate data. For instance, an insurance company can purchase a list of fake lead email addresses or phone numbers, making its lead generation campaign less successful.

Improve the Outcome of Your Insurance Lead Gen Strategy

Insurance agencies should utilize lead generation strategies to fill their pipeline with qualified prospects. They can use referral programs and attend industry events to generate potential leads likely to convert into buyers. Businesses can also implement marketing campaigns to enhance online presence and boost visibility.

Although all of these lead-generation strategies are effective, they require investing precious time and money. Luckily, insurance companies can buy lead lists from reputable websites to get better and faster results.

Frequently Asked Questions

How Much Does It Cost to Buy Insurance Leads?

Many online websites sell insurance leads to agents and companies willing to fill their pipelines with engaged prospects and drive them further into the sales funnel. The cost for these lead types varies depending on the website’s offer, but the price per lead in this industry ranges from $20 to $50.

Do Insurance Companies Buy Leads?

Some insurance companies provide a lead list for agents to contact promising leads who may be interested in their products or services. However, different agents have likely approached these leads before, so companies find buying fresh leads more beneficial.

Is It a Good Idea to Buy Leads?

The research process for generating insurance leads can be lengthy and budget-draining. Companies must use diverse resources to find potential clients, which delays revenue growth. Thus, they opt for purchasing ready-made lead lists with accurate contact information.

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