Most Frequently ASked Questions
Insurance Lead FAQs
We’ve put together a list of the most commonly asked questions we get relating to insurance leads below.
No. Unlike other lead providers, we don’t charge a sign-up or joining fee. And we don’t have fixed term contracts. It’s completely ‘pay as you go’. If you don’t see ongoing value, you don’t have to keep paying. That’s how it should be!
Each lead you receive is exclusive just for you. They aren’t shared or sold multiple times to other insurance brokers.
NB: This data is specific to risk insurance leads only (income protection, mortgage protection, life and trauma insurance). These are the lead types I prioritise and focus on generating for clients that deliver the best return time and time again.
Feedback is collected from every lead generated and conversion rates and average API has been calculated based on the data provided directly from clients. These are averages only and conversion rates may vary.
Assumes a cost per lead of $90 and a commission rate of 200%.
A typical pack of 10 risk insurance leads given to the average adviser
– 10 leads @ $90 = $900 investment
– 5-7 meetings booked (50-70% conversion)
– 2 new clients (20% conversion)
– API = $2,750 (between $2,000 and $3,500)
– 2 clients = $5,500 total API
– $5,500 x 200% = $11,000 commission
This is a net profit of $10,100 or a profit of $11.22 for for every $1 invested.
All leads are delivered directly to your inbox or CRM in real-time as they are generated. You also get access to a lead report to easily track all leads, provide feedback and calculate your return.
This depends on how many leads you choose to order and when you would like to receive them. The minimum order amount is 10 and you can scale the lead volume based on your needs. We also provide bonus leads for larger orders which brings your cost per lead down.
These are premium quality leads delivered in real-time. We have an extensive lead qualification process consisting of 12+ data points for every lead. This includes all key contact information (name, email and phone number). We can also customise the information we collect based on your criteria. These are the highest intent leads you will find.
There are many ways insurance brokers generate leads. Some are supplied leads directly from their employer or business they are contracted to, while others are expected to bring in their own leads. If you are self-employed or run a business it’s up to you to source them for yourself and employees. Here are some of the most common ways to generate leads in the insurance space:
→ Referrals: Common referral partners include other brokers, especially in related industries such as lending. Mortgage brokers and real estate agents are good sources. This is a good channel but can be inconsistent and lumpy as you don’t have any control over when you will get leads. For this to work effectively you need a really large referral network to ensure adequate lead volumes. The other downside is having to give away some of your commission for successfully converted leads.
→ Cold calling: This is probably one of the least favourite channels for brokers. But you can hire a VA (virtual assistant) or a telemarketing company to call potential prospects and book appointments for you. This can be costly and conversion rates tend to be much lower. Because you are interrupting people who aren’t expecting your call it really is a numbers game. Finding someone who is open to having a conversation can be like finding a needle in a haystack as it needs to be the right person at the right time. Really understanding your prospect, their problems and having a great script is key to getting the best results here. You also need a thick skin and it’s not for everybody.
→ Trade shows: Big events where your potential clients will be is another favourite with insurance brokers. Common events include things like; home shows (target market is homeowners), baby shows (new parents to be), wedding shows (couples about to get married). The biggest deterrent here is cost. Paying for a booth to exhibit will usually run into the thousands of dollars. The return is often not there. To get the most success here you need a strong strategy for before, during and post event. You need to follow-up on all leads quickly and you need to be very proactive during the event. Try to come up with fun and engaging ways to collect leads and capture their information.
→ Digital marketing: More and more insurance brokers are starting to understand the value of digital marketing and are trying to take advantage of it. We know 81% of consumers go online to find information on products or services they are interested in purchasing. This requires a lot of resources, energy and expertise on your behalf. You will need your own website, social profiles, sales funnels, campaigns and have to risk your own money figuring it all out. Then there’s no guarantees that you will generate leads or the ones you want. It also requires a large upfront investment in your own website, branding, paid media and lead capture systems. And that doesn’t include the time cost of setting everything up, continually optimising campaigns and keeping up with the latest digital marketing trends and changes.
→ Lead providers (what we are): This is a great way to get a consistent stream of buyer ready leads for your business and you only pay for real results in the form of leads. No setup fees, expensive monthly retainers or lock in contracts (depending on the provider). The lead provider takes the risk. Taking care of building all the sales funnels, ads and landing pages for free. You can scale as you grow and ensure there’s always a consistent pipeline of qualified, high converting sales leads for your business.
This varies and depends on the channel you use, the payment model and whether or not you source the leads yourself or via a lead provider. If you are trying to generate the leads yourself through your own campaigns and social media, you also need to factor in your time and are having to risk your own money with no guarantee of generating leads. This is something you will also need to continue to test and optimise to ensure you are getting the right type, quality and a return.
It is also dependent on the type and quality. You can buy lists of aged leads very cheap, but those are usually cold and convert at a similar rate to telemarketing leads. If you go to a trade show you need to factor in the cost of a booth, branding and marketing, travel and accommodation. This is why this is usually one of the most expensive lead generation strategies. If you want highly qualified leads, delivered in real time, with 12+ data points and a good conversion rate (what we provide), these will cost more than unqualified leads that come with minimum information and don’t convert as well.
It really comes down to your return. Finding a channel that provides consistent, qualified leads at a competitive price that delivers you a great return is what you should focus on. Cost comes down to return. A $100 lead that is qualified and converts is worth more to your business than 100 $1 leads that don’t convert at all and end up wasting your time.
Our goal has always been to provide the most competitively priced insurance leads in the industry (without compromising on quality). This philosophy extends to our lead replacement policy. Our returns policy is as follows:
LEADS: A valid enquiry (lead) is a lead with the correct email address, phone number and name. Any leads that have incorrect details, phone, email or incorrect person can be classified as invalid.
A lead that does not answer their phone or is not interested in going further is not deemed an invalid lead. If you, the Client, feel the lead has been unjustifiably charged or invalid in some way, we will consider it on a case-by-case basis.
If you believe a lead qualifies for replacement under these terms, you must notify us within 24 hours of receiving it.
There’s plenty of other lead providers who will only replace a lead if both the phone number and email are invalid. That’s great for them, but not for you. So we wanted to do better. At the end of the day our success is dependent on your success. And that’s all that matters!
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