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5 Ways To Compare Insurance Lead Companies

5 Ways To Compare Insurance Lead Companies

If you’re considering buying leads to help boost your business, be aware that not all leads are created equal—and neither are the lead insurance companies they come from. In this article, we’ll identify five critical questions that can help you ferret out whether a particular lead generation company will actually help you—or waste time and money, and possibly even sully your reputation.

Comparing Insurance Lead Generation Companies: 5 Questions To Consider

1. Is the company a lead aggregator or a lead generator?

This is the most important question to ask. You’ll save yourself a great deal of time and money simply by knowing what kind of company you’ll be working with when you buy insurance leads. What’s the difference between a lead generator vs. a lead aggregator? In a nutshell: Lead aggregators purchase leads from other aggregators or from generators; lead generators source all or most of their own leads (this is what we do at EverQuote) .

Often, aggregators share lead information within the same insurance carrier, so you can end up competing against people who offer the same rates as you. Leads who come through lead aggregators might have been looking for insurance days, weeks, or even months ago. They’re likely tired of talking to agents (they’ve already been solicited by dozens of them). Leads from aggregators may have already signed on with a company or decided not to change the insurance products they already have, which means you may potentially waste your money and time pursuing people with whom there is no prospect of binding a policy .

Ask a sales rep to show you exactly where every lead comes from. If they can't give you a straight answer, it's a good sign you've found an aggregator.

On the other hand, lead generator companies like EverQuote get leads when consumers are actively seeking quotes—their intent is to buy insurance and they want to be contacted by insurance agents.

Leads that come from a lead generator are consumers looking for insurance right then and there—they’re very warm, up for renewal, or need a new product.

All you need to do is ask the company you’re considering buying leads from if they are an aggregator. Or, better yet, ask them if they can show you exactly where every lead comes from. EverQuote sources the vast majority of our own leads, so we can show you exactly where a lead originated (i.e., Did the consumer come to us from Google? Did they come to us from Facebook?) as well as when they filled out a form and all the details of the dozens of questions they answered.

Take Perry Olson’s word for it—these tips take your agency from average to excellent. Download 10 Things Every Agent Should Be Doing (But That Most Aren’t).

2. Does the company recycle lead information?

Do you want to talk to a lead who has been contacted by a bunch of other agents already? Nope.

What about a lead looking for coverage a month ago? Nope.

But if you buy leads from a company that recycles lead information, that’s exactly what will happen. To find out if the company you’re buying leads from does this, then ask them the following questions:

  • Where does your lead information come from?
  • How many other agents get this info?
  • Are leads delivered in real-time?
  • How much information will we get about the consumer?
  • Can you prove this information is correct?

Most companies that recycle leads couldn't give you legitimate answers to even half of these questions. This means the leads you buy can’t be sourced, aren’t delivered to you in real time, and may not have an intent to purchase insurance—they may not have even realized the purpose of the form they were filling out.

When I talk to agents who are shopping around for insurance lead generation companies, I never discourage them from talking to other companies. The truth is, companies that can’t honestly answer the questions above just don’t compare to companies that can.

3. Does the company incentivize lead information?

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If I sent you this form, do you think you’d fill it out because you wanted to go to Aruba for free—or because you wanted to buy insurance? Exactly.

Companies that incentivize lead information with free giveaways or trips (or anything else) are less likely to get “leads” who are looking for insurance, which means they’re collecting lead info in methods that are disingenuous to their purpose.

As you may have guessed, insurance agents who buy leads from companies that incentivize leads do not see good results. These leads aren’t intentful, because they aren’t actively seeking coverage. Once again, purchasing a list with these incentivized leads can be a waste of your money and your time.

4. What is their level of customer service?

Customer service is one of the pillars of a good insurance lead company. Make sure you’re familiar with the customer service experience offered by each of the companies you’re considering.

  • What is their response time for answering questions?
  • What do other agents say about buying leads from them?
  • Do they offer a return policy for leads?
  • Do they assign a dedicated Customer Success Manager to support you?
  • How invested is the company in sharing effective lead strategies and best practices?

At EverQuote, our industry-leading Customer Success teams partner with thousands of agents, leveraging data analysis and industry expertise to help optimize your account and drive results. We also invest heavily in creating agent-focused content – from weekly webinars featuring some of the Country’s most successful insurance agents and industry thought leaders, to eBooks and videos on best practices and strategies for success.

5. Can you scale your lead purchasing as your business grows?

The number of leads you purchase when you sign on shouldn’t be the number of leads you’re locked into forever. Find out whether the company you’re considering partnering with will allow you to revisit the number of leads purchased as you become more successful—or, if for some reason, you need to scale back.

The best insurance lead companies not only allow you to adjust the number of leads you need, but will also help you identify what steps you need to take to make the most of every single lead you buy. (That’s what our team does at EverQuote!)

Grow your book of business faster by partnering with the best lead generation company.

Growing your company isn’t about the work you can do in one month. To be successful, you want to make sure you’re finding quality prospects who will increase your book of business on all items across the board. Considering each of the above questions as you compare insurance lead generation companies is your first step.

If you’re wondering how to find quality leads that are 100% originally sourced—EverQuote experts can help. We’d love to answer your questions, talk to you about how we source our leads, and help build a game plan that sets you up to win. Contact us today, and let’s get started.


Topics: Insurance Lead Generation

About the Author Chris Nashed, Director of Inside Sales

Picture of Chris Nashed, Director of Inside Sales

Chris serves as an Inside Sales Manager at EverQuote. He studied at UMass-Lowell and brings over a decade of sales experience to his role. Chris' almost preternatural sales acumen has seen him help grow tech companies from the North Shore to New Hampshire –at least before we were able to convince him to join us here at EverQuote!

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