24 Jul 5 Things You Need to Know About Vetting Insurance Lead Vendors

When it comes to buying online insurance leads, you shouldn’t have to compromise on quality and quantity.

Buying unvetted leads in bulk can mean going on a frustrating goose-chase that ends up being a waste of your time and money. Many will have already been resold dozens of times, resulting in you making short phone calls to people who have spoken to twelve agents — and no longer want to hear the word ‘insurance’.

Conversely, buying high-intent leads from a vendor with transparent practices and a searching domain names sound reputation can fuel your success and have you writing more policies per call than ever before.

You can trace the origins of most poor leads back to the source: vendors that exaggerate their services, aggregate rather than generate leads, and look for volume over quality. It’s a familiar story, but one you can rewrite. To avoid falling into this hole, we’ve outlined 5 key yhings you need to know about vetting insurance lead vendors

1. How does this vendor capture leads?

This is an all-important question to ask – especially since vendors who buy leads from third-party suppliers won’t openly advertise it. If it’s not obvious, you should ask them to provide sub or source IDs. Although this masks the specific origin of the lead itself, it will still help you track that channel’s performance and provide insight into the value of your relationship with the vendor over time.

Vendors using PPC and SEO techniques to capture interested consumers will produce leads with higher conversion rates. The method makes a significant difference. Insurance leads that are generated internally and subjected to quality control standards are based on real interest. This will mean talking to people who are ready to hear what you’ve got to say, which translates to higher conversion rates.

2. How often does your vendor redistribute leads?

After finding out how your vendor generates leads, you next question should be about its redistribution process. This will help you gauge the intent of consumers on its list. The higher the redistribution rate, the more overly competitive the customer list.

3. Does your vendor provide agent support?

No vendor can guarantee absolute accuracy and performance on the leads they provide. But a decent vendor should admit its shortcomings and offer potential remedies, such as return policies for bad leads or bogus numbers. To maximize your ROI, hire a vendor that will walk you through best practices, provide performance tracking, and be responsive when the metrics point towards a batch of low-quality leads.

4. Does your vendor have an internal data hygiene process or a third-party provider?

It’s a simple question — make sure your vendor has a quick, straight answer. If they don’t, be suspicious. Data hygiene is essential for lead validation.

5. What does the user dashboard look like?

Even when dealing with vendors that generate high-intent leads, their offerings can be undermined by a bad user interface. Before you sign up with any vendor, ask about their CRM-integration system as well as support response time, average price per policy, and delivery channels. They should also provide filter options, delivery schedules, and steps for revising your package later on.

Using vendors that practice transparency in their sourcing and lead generation practices will help set you apart from other agents. It takes extra effort to sniff out the good guys, but the pay-off for asking the right questions will be getting leads that convert, and a seamless user experience.