Breaking Down an Insurance Lead

In the realm of online leads, speed is king. When you receive an insurance lead from an online provider like NetQuote, there’s a lot of information to process in the seconds before making your initial contact attempt with the consumer. Knowing which elements to focus on can help you craft a better pitch – which then will improve your chances of initiating a conversation, and more importantly, a sale.

What do you think are the most important pieces of an insurance lead?

Depending on the type of insurance, the essential information can change. When you know what to look for, you can quickly and easily apply that information to your usual pitch to make it personal for each potential client. It’s important that you learn to do this as quickly as possible, since other insurance agents could be competing for the same business.

Break down by insurance lead type...

Auto Insurance Leads

  • How many drivers and cars has the prospect listed? This is a key to finding a policy that covers all his or her needs. Most insurance companies also discount drivers who have been continuously insured. Information about past incidents also will be a deciding factor in whether you can write a standard or preferred policy.
  • Is there a safe driving discount for driving education? Many insurance prospects are surprised to hear that they can qualify for additional discount by taking defensive driving courses. Discounts are quick to get your prospects attention.

Business or Commercial Insurance Leads

  • What is the companies SIC code? The SIC (Standard Industrial Classification) Code description is used to specify what industry a company is in, which will help you know more about what you should be talking about as you make your case. This can be extremely valuable as business owners love to talk about their business. A little research can go a long way.
  • How many years has the company been in business? Additionally what is the size of the company and the description of the business? Specific pieces of information like a client’s desired effective date and requested coverage will also help you customize your pitch.

Related: NetQuote offers SIC code filtering to target business insurance leads that fit your unique insurance business.

Homeowners Insurance Leads

  • Look at the age of the home and any past claim information. This will help you get an idea of what you should be pitching, such as flood insurance, earthquake insurance, etc... Pay attention to the dwelling coverage and deductible, as well as whether the home has been continuously insured and who the prospect’s current carrier is. Every home is as unique as its owner, so getting the details right is important.
  • Look at coverage expectations on each lead. When it comes time to file a claim, few home owners understand the details of replacement cost vs market value. Now is the time to educate them and be the expert.

Health Insurance Leads

  • Take note of the prospect’s age gender and health conditions to have a broad picture of the desired type of coverage. Their personal details and a quick conversation will play a big part in determining the type of health insurance policy you can write for them.
  • Ask their main reason for getting health insurance, respectfully of course, as the prospect may offer indicators to help you determine how you can customize your service. Habits, work stress, health history will all help paint a clearer picture.

Life Insurance Leads

    • Much like health insurance, age, health conditions and gender play a huge role in pitching for a life insurance prospect, so your eyes should go right to those areas on the lead. In general, consumers are less familiar with life insurance compared to personal property and casualty insurance. Be prepared to educate prospects on various policy types to find the best product available.
    • Marital status and family information may not apply to an individual life policy but be on the look out for kids, a wife, and business liabilities to find a way to up-sell to better policies designed for certain risk profiles.

No matter what type of policy request you’re responding to, remember that prospects need guidance and are looking for you to make recommendations. Also, the information on the lead should only be a starting point. Ask consumers questions that can save them money and also raise your commission, such as cross-selling insurance and adding all family members. Armed with the right information from the lead, you can more effectively turn online insurance leads into policy holders.

Looking for business insurance leads or other high-quality insurance leads? As part of insuranceQuotes, the nation’s largest online insurance lead provider, NetQuote provides the tools and resources to reach your goals. Contact us today to search for high-quality insurance leads in your backyard.

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