Do you use online leads services?

[OldIndyAgent]

Rodgwag...

You might want to check todays Insurance Journal...

BB&T Adds Flood Insurance to Online Offerings
http://www.insurancejournal.com/news/na ... 253491.htm

[Robert742]

Rodgwag,

You should check that...I can name 12 offering direct rates, and those are just the big boys online, in the USA. If you can't find more than 8, I suggest you use this new-fangled thing called G-o-o-g-l-e search. I work with several more that are under $100M written premium that also offer online quotes, that are pushed to agents, but they are regional. Truth is there is lots of companies online, finding them and weeding out the lead aggregators is the issue. In Europe, a HUGE volume is done online and I think that is where the USA is headed.

Comparatively, SelectQuote seems to do a decent job. It delivers pre-underwritten quotes in just minutes. There seems to be quite a few of these type of comparative raters out there for consumers.

I'll have to look at SelectQuote, can you name any other sites actuallyl providing comparison quotes online? The Internet is better than ever for getting online auto insurance quotes, but you need to go to each company's website.

However, what Rodwag says about quote comparison websites is mostly true. Lead generation companies are not inherently bad if the prospect knows they will be contacted, and leads are not being over-sold, or "refreshed." Yet there is no way for the public to be sure the site they use will actually provide online quotes as promised, or result in being constantly harassed with telemarketing calls.

I tried out one site, which took some basic information from me, not enough to quote me accurately, then displayed a static page of price ranges for various insurance companies, probably shown to every prospect. They sold my information as a lead, which I expected, but they also sold my e-mail address, and I'm still getting all sorts of spam from it.

I have some confidence in Hometownquotes as one of the better players, and I use them on my website. Some people prefer having agents contact them for quotes. You would think the worst offenders, like the Bankrate companies, would kill the lead generation business by turning off the consumer, not to mention agents dropping them for lousy leads. I think it will stay with us for the same reason we still see sleazy used car sales tactics to sell cars: it remains profitable.

[rodgwag]

OldIndyAgent, you rookie, why didn't you name the 12 companies in your post? Do you even have your own agency (don't say yes if you only sell regional carriers because that would be sad)?
As for Europe, they are inherently less sleazy than we are so they have laws in place that force them to be more honest with their consumers concerning insurance rating.

[OldIndyAgent]

Rodwadg...Really?
Look, if you can't Google and find at least 12, I am NOT helping you... Baiting? I'm old enough not to fall for a grade school taunt.

And you stated very matter of fact that there were only 8! I guess America is the center of the world, and the rest just doesn't count, the way you phrased your answer.

Some of the are regionals are better at underwriting than the big boys, so yeah, I do like them!

[Rainmaker]

I have yet to see an agency prosper over time using on-line lead services. They are commodity transactions, low premium, typically distressed, low value assignment of the agent as a value add, and very, very, very poor retention rate.

The better approach, in our experience, using a combination of contact information/technology/etc to foster sales is a drip campaign. Statistically, 88% of buyers will engage an agent in a discussion, but are not yet ready to buy. They are establishing the agent as a future resource in case of: 1) something goes wrong with the current agent; 2) they suspect there might be an imminent agent of change in their business, ie they grow, expand, divest a division, whatever...and they may want to engage another agent to evaluate if they will be a better fit than the incumbent given those changes actually occur; 3) 'relationship anxiety' or better put, they just met you..they want more time and history with you and familiarity with your work before buying; 4) they've met you now but don't start evaluating coverages until a future date - so it's just not good timing yet to visit the issue.

A well constructed drip campaign, comprised of contacts with whom the agent has actually met, had a contact with, etc., but are not yet ready to buy, and that incorporates thought leadership, content, promotion of success stories, interactivity (ie downloading a whitepaper or linking to a blog article) is the best and truest form of lead generation that contributes to sustainable organic growth.

I highly encourage NOT wasting money on anything falling outside of that.....so shall you sow, so shall you reap...you'll get nothing but lousy clients with LeadGen services and you can't build a good insurance practice on that.

Just one man's opinion.

http://www.youtube.com/watch?v=rTCWqVsa-4k

[robmejia]

I agree with charlie. Sometimes you have to pay just to get leads failing to think that since it's for sale, it's up for grabs for a dozen more or so agents. That increases competition and may make things more difficult for you