The global insurance market is developing rapidly, expected to exceed $8 billion by 2026. However, the trust in insurance companies leaves much to be desired across the board, with only around 34% of life insurance leads fully trusting their insurers.
This complicates things when it comes to insurance lead generation, whether you generate insurance leads using earned media or buy insurance leads. From the business perspective, you need high-intent leads who will convert, not abandon you because of trust issues.
So where do you find high-quality leads, and what insurance marketing ideas are best for reliable insurance lead generation?
Let’s dig right into it.
Source: GIPHY
Learn These Basics Before You Buy Insurance Leads
If you’re planning to purchase insurance leads, it’s a good idea to start by understanding the types of potential customers in the insurance industry:
- Life insurance leads: Selling life insurance policies soared after the beginning of the pandemic, with some companies showing an increase in life insurance sales by up to 20%. To this day, buying insurance leads is one of the most profitable investments.
- Health insurance leads: Purchasing insurance leads of this type benefits insurance agents even more after COVID-19, as the demand has grown significantly.
- Home insurance leads: Generating homeowner insurance leads can be extremely profitable in regions where most people live in private homes. The homeownership rate in the United States exceeds 65%, with 93% of homeowners owning home insurance policies.
- Commercial insurance leads: These are potential customers who may be interested in insuring their business. They may be looking to buy insurance policies for commercial real estate, general liability, etc.
- Car insurance leads: These are car owners who are potentially interested in insuring their car or liability to a third party person in the event of an accident or other unforeseen incident with their vehicle. According to Forbes, every eighth car owner in the United States is uninsured. Therefore, attracting car insurance leads opens up a wide range of prospects for insurance agents.
- Mortgage protection leads: The clients of banks and other financial institutions with valid mortgage loan agreements. Given the risks associated with the inability to repay the loans, clients may seek compensation for covered cases.
Regardless of what type of insurance an agent works with, there are a few universal tips on how to purchase insurance leads with the prospect of converting them into real clients.
How to Buy Insurance Leads with No Trouble
#1 Evaluate the Quality of Insurance Sales Leads
Some lead generation companies prefer to emphasize the quantity of insurance leads, neglecting their quality. Purchasing insurance leads from such providers is not worth it.
Here are some high-quality leads you might want to consider:
- Exclusive leads: These are potential clients that are sold exclusively to one insurer. For example, if you are in the life insurance business, only your insurance agent or online insurance broker will have access to these exclusive life insurance leads and will likely make more life insurance sales.
- Live transfer leads: These are targeted insurance leads who have been generated based on the parameters of location, area of business, age, etc. These targeted leads are of high purchase intent and convert quite well when approached the right way by your sales reps.
- Real-time leads online: These potential customers are generated in real-time when they perform some targeted action like a lead gen form fill. Here, it is important to react in time to the needs of these insurance leads, contacting them as soon as possible.
- Search leads: These are potential customers generated as a result of search engine optimization of your website. When buying insurance leads from this category, choose leads who have shown interest in the product by asking for advice, reviewing the terms and conditions of the policy, leaving reviews of similar and related products, etc.
You can learn about the most effective way to call potential clients from the video from an expert in this field, insurance agency owner Deon Williams:
Now, sometimes purchasing insurance leads is not worth the money:
- Aged leads: Leads aged 30+ days rarely convert because they may have already taken out an insurance policy with your competitors or may have changed their mind about buying insurance.
- Shared leads: These leads are sold to several insurers at once, which makes them much more competitive than exclusive leads. Likewise, these consumers will likely be tired of the constant sales calls.
- Fake leads: These are leads generated erroneously or with malicious intent. It goes without saying that the purchase of insurance leads of this type will not benefit the company.
#2 Try Online Tools for Insurance Agents – Insurance Lead Generators
Absolutely all modern business avenues show a tendency towards automation, and insurance lead generation is no exception. There are specialized software products for those wishing to purchase health insurance leads and customer contacts. Such platforms automatically generate life insurance leads and can be integrated with other systems to manage the resulting client bases.
#3 Tap Into Affiliate Networks to Purchase Insurance Leads
An affiliate network is a platform that allows those who want to purchase insurance leads (advertisers) to find offers from companies that sell leads online (affiliates). Such platforms are abundant with clients for any type of insurance – from life insurance leads for agents to car insurance leads. However, before buying life insurance leads, pay attention to their quality.
The Profitise affiliate network offers internet leads who are genuinely interested in your company’s products. On this platform, you can buy insurance leads, manage your insurance leads online, track new offers from verified sellers, and receive databases of insurance leads ready for conversion.
Profitise uses advanced insurance marketing strategies and innovative technological solutions, allowing you to obtain good leads quickly, profitably, and safely.
#4 Consider the Price-Quality Ratio Before You Buy Insurance Leads
Depending on what high-quality leads you need, the cost may vary from $5 to $200 or even more.
How Much Is Insurance Leads: Per Lead Cost Table
| Real-time leads: $7-$30 | These insurance leads are generated in real-time and, therefore, require an immediate response. |
| Live transfer leads: $25+ | The higher cost of live transfer leads for life insurance reflects their higher conversion rate. |
| Search leads: $10-$20 | Search leads are leads who have shown interest in the services you provide, being high-quality leads worth purchasing |
| Exclusive leads: $15-$50 | These leads are accessible only to one insurance company and, therefore, are the most expensive and profitable |
Alternatives to Buying Leads for Life Insurance
Many insurers are interested in alternatives to purchasing insurance leads, specifically free insurance leads that you can draw from referral programs, partnerships, and your earned media.
Let’s review some of these free strategies:
- Reviews. You can ask customers to leave reviews about your company or recommend it to their friends. This method of insurance lead generation won’t cost you a dime, but it won’t work for those new to the business.
- Referral program. A referral program is a good way to incentivize existing customers to spread the word and leave positive feedback. You only have to decide on the format and size of the reward you will offer in exchange.
- Partnerships. In addition to recommendations, you can cooperate with companies from related industries. For example, if you are interested in home insurance leads, you can collaborate with realtors. In return for the high-quality leads they provide, you can recommend their real estate agency to your clients.
- Webinars. Recent studies show that 52% of internet users are likelier to watch videos than consume any other content format, making videos and webinars a must for insurance lead generation.
- Blogs and forums. Active participation in the forums will allow you to demonstrate your expertise and educate your audience. Blogging doesn’t require hefty financial investments.
- Social media. With more than 60% of the world’s population being active social media users, it would be unwise to miss the chance to generate leads there for free.
Buy Insurance Leads at Profitise
Joining Profitise will grant you access to a gigantic insurance leads database, all transparent and safe. If you decide to buy insurance leads or are interested in selling life insurance leads, register with Profitise as an affiliate or advertiser – and grow your bottom line sustainably and with no risks.
Frequently Asked Questions
Where can I purchase health insurance leads?
You can purchase insurance leads from partner networks like Profitise. Purchasing such leads for insurance agents at Profitise is safe and cost-effective, with many leads converting into clients.
How do I purchase life insurance leads?
To purchase life insurance leads, you should register with Profitise as an advertiser. Then, you will find offers with different prices per lead, depending on your quality and quantity requirements.
Can life insurance agents near me find leads for free?
There are many lead generation methods if you don’t want to purchase insurance leads, and some of them don’t require financial investments. You can tap into social media, apply SEO practices, start a referral program, and more. However, if you lack knowledge or resources for generating leads from earned media, buying leads for life insurance might be the best option.
What is the best way to generate leads for a new insurance company?
Buying insurance leads is the optimal way to find leads for life insurance marketing if you’re new to the game. You can also generate leads using your website, social media, or blogging, but this may require immense investments in terms of time and effort.
