How to Get the Best Insurance Leads

Posted by Michelle McKinley on Wed, Mar 01, 2017

How to Identify the Best Insurance Leads

The hardest aspect of being an insurance agent is finding good insurance leads. It doesn’t matter how well you know auto, health or life insurance – you can’t survive as an insurance agent without quality leads. Hundreds of insurance agents compete for the attention of all web leads, and precious few find qualified prospects. Getting the precise leads that put you in front of prospects leads to higher conversion rates, and insurance sales, solidifying your career as an insurance agent.

There are numerous ways to generate the best insurance leads for your agency. The best method for generating insurance leads depends on you as an individual agent. Different insurance lead generation methods work based on your local market, level of competition, sales style and targeted niche. The following are the best insurance leads marketing methods for you to consider implementing in 2017.

In-house insurance leads

Insurance agents just starting out can benefit from working for a company that provides its agents with a steady stream of insurance leads. Many life insurance agencies provide leads to agents. While getting a steady stream of leads for insurance agents is a great benefit, the quality isn’t always there. If your close rate is low it may have something to do with the quality of the insurance leads you’re receiving. The best insurance leads will convert at a higher rate, and lead to a higher close rate.

Third-Party Insurance Leads

If your company doesn’t provide you with the best insurance leads, you can buy insurance leads from a third-party. With a third-party lead aggregator like Parasol Leads, you purchase insurance leads up front. There multiple benefits that come from purchasing exclusive insurance leads. Insurance lead generation companies like Parasol Leads generate leads through a variety of ways including SEO, search engine campaigns, paid marketing, email marketing and social media campaigns. You pay up front, and the company provides you with the best insurance leads that meet your specific geographic boundaries. The biggest benefit of buying third-party leads is that the lead provider does not take a chunk of your commissions. For insurance agents with high close rates, the lead cost is an insignificant fraction of the commission you can earn.

Another benefit of buying insurance leads is the ability to specify the lead attributes of your target prospects including age, income and desired benefit amount. This ensures that you receive the best insurance leads for your individual agency needs. Some insurance lead companies give you the choice between exclusive insurance leads and aged insurance leads. Exclusive insurance leads can be more expensive, but often have a higher close rate thanks to decreased competition.

Whether you’re generating insurance leads for yourself, using your company’s leads or using a third-party insurance lead company – lead quality will often determine your close rate. Learn more about Parasol Leads quality insurance leads.

The Best Life Insurance Leads

Auto Insurance Leads Pricing

Exclusive Insurance Leads

Insurance Lead Generation

Tags: insurance leads, auto insurance leads, Insurance agents, home insurance leads, life insurance leads

Insurance Agents – Who Transitions Well Into Insurance

Posted by Michelle McKinley on Mon, Feb 27, 2017

Should You Transition into Insurance Sales?

So, you’ve decided to become an insurance agent. Now what? Insurance sales is a challenging profession, even if you have prior sales experience. While the most successful insurance agents in the nation make more than $1 million annually, many insurance agents exit the industry within the first year. Learn more about transitioning into insurance sales, and what it takes to make it as an insurance agent.

Life Insurance

Life insurance sales has a reputation for being an easy field to enter, but that’s not always the case. “A lot of companies try to convince job candidates that their company is great and everyone is going to make $100,000,” New York Life Managing Partner Greg Jensen says. “We ask: Is this a suitable career for the candidate? We do an extensive job of interviewing to help the candidates know if this is the right career choice for them.”

Insurance Lead Generation

One of the most challenging aspects of starting out as an insurance agent is generating insurance leads. Insurance lead generation is difficult thanks to stiff competition. Insurance keywords tend to have some of the highest cost per clicks and lowest ROI of any industry. It’s challenging to get consumers to engage with your content when there’s so much content flooding the space. Seasoned insurance agents have a built-in cushion of referral leads, upsells and word-of-mouth that new agents can’t rely upon. Instead, the first months of becoming an agent are often spent cold calling and prospecting for insurance leads.

The Right Fit

How do you determine if insurance sales is right for you? If you have had a career as a real estate agent, mortgage loan officer, teacher or an auto sales specialist you’re probably a good fit according to Jensen. “The ones who have the ability to position themselves and network, the good ones who are finding they need a recession-proof career and those with deep-rooted relationships within their communities have the best chances for success,” he says. A career in insurance offers more flexibility, and fewer weekend and evening hours, making it a good career for those with families, Jensen said.

You don’t have to have had a career in sales to succeed as an insurance agent according to Dan Strubberg, Director of Agency Recruiting and Development for State Farm Insurance in Bloomington, Illinois. “They’re people who strive for recognition, who are competitive, who like the risk of a business venture where they are thriving on the connection of success and hard work and wanting to help people solve the risks of everyday life.”

 

 

Tags: insurance sales, Insurance agents, life insurance sales, insurance industry

Insurance Industry Required to Combat Cyber Attacks

Posted by Michelle McKinley on Mon, Feb 27, 2017

New York State Finalizes an Insurance Industry Cyber Security Regulation That’s the First of Its Kind

New York state announced a final cyber security regulation this month that set mandatory standards for banks and insurers to combat the increasing cyber threat. The new cyber regulation will take effect March 1st. It follows a series of high-profile data breaches that resulted in hundreds of millions of dollars in losses for U.S. companies including: Target, Home Depot and Anthem.

The cyber regulation lays out unprecedented requirements on steps insurance companies must take to protect their networks and customer data from would-be hackers and disclose cyber events to state regulators if and when they occur.

“These strong, first-in-the-nation protections will help ensure the [insurance] industry has the necessary safeguards in place [to protect businesses and clients] from the serious economic harm caused by these devastating cyber-crimes,” Governor Andrew Cuomo said in a statement.

New York attorney Jed Davis, a former U.S. federal cyber crimes prosecutor, called the new regulation a “game changer.”

“No other state and no other federal agency has these kinds of mandatory standards,” David said.

The regulation will affect all insurance companies that do business in New York state.

The new state standards call for insurers to scrutinize security at third-party vendors that provide them goods and services. In 2015, the New York Department of Financial Services found that a third of 40 banks polled did not require outside vendors to notify them of breaches that could compromise data.

The revised rule requires firms to perform risk assessments in order to design a program particular to them at least a year-and-a-half to comply with the requirements. The final rule took into account the burden on smaller companies, a spokeswoman for the agency said.

“It’s now driven by a realistic assessment of one’s cyber security risks,” Luke Dembosky, an attorney in Washington, D.C., and a former veteran cybercrime prosecutor said.

Anthem’s cyberattack – which hackers stole the names, birth dates, Social Security numbers, home addresses and other personal information of 78.8 million current and former members and employees – affected Anthem’s reputation with consumers. Consumers questioned whether Anthem and other healthcare organizations could manage the volumes of data they have access to.

The FBI is still investigating the attack, and so far has found no evidence that Anthem members’ data have been sold, shared or used fraudulently, an Anthem spokeswoman said. Credit card and medical information also allegedly has not been taken. Anthem provided two years of credit monitoring to those who were affected by the previous attack.

How do you feel about the new insurer cyber regulations? Do you think it will help or hurt the insurance industry? How will the new rulings affect consumer perception of insurance providers? How will this new ruling affect insurance lead generation? Share your thoughts below.

 

Tags: Insurance agents, insurance news, insurance industry, insurance

Why are young insurance agents so optimistic?

Posted by Michelle McKinley on Thu, Feb 02, 2017

Why young insurance agents are optimistic about their future in insurance

The insurance agency has faced a huge talent gap in recent years. Almost half of all insurance agents are over the age of 45, with 25 percent of the industry expected to retire by 2018. That gap has created a great opportunity for young insurance agents.

The aging of the insurance industry workforce is one reason young insurance agents can secure a bright future for themselves in the insurance industry. According to Insurance Journal’s 2016 Young Insurance Agents Survey, their optimistic outlook is higher today than in recent history.

Young insurance agents are not only optimistic about their own careers, but also about the U.S. economy and even about the ability of their agencies and the industry to attract quality talent, according to feedback from the 500 young insurance agents who responded to the Insurance Journal survey.

“There is job security in the insurance industry if you find the right place to work because of the shortage of agents,” one agent said.

“I believe that the insurance industry is a great way to start a career,” said another young agent who responded to the Insurance Journal survey. “You’re always learning and a lot of individuals will be retiring. Who will replace those people? Young insurance agents!”

Nearly 60 percent of young insurance agents described their outlook on their career as very optimistic, which is up from 51.6 percent in 2015.

The survey identifies what young agents do to advance their careers, what they earn, as well as what they think about their careers and their agencies’ operations and cultures. Overall, young insurance agents feel confident that the industry and their own agencies will attract talent to fill the gap in the coming years.

About the Insurance Agent's Survey

Insurance Journal’s Young Insurance Agents survey 2016 polled more than 500 young insurance agents across the nation on their opinions about the insurance industry, their insurance agency, and how they feel about being an insurance agent.  

Tags: insurance sales, Insurance agents, insurance agencies, insurance news, insurance

5 Tips New Insurance Agents Need to Excel

Posted by Michelle McKinley on Tue, Jan 24, 2017

Start Your Career as an Insurance Agent on the Right Foot

Starting a new career is always challenging, but sales people have particular hurtles many people never have to worry about. Insurance Agents must have a sales instinct to succeed, but there are skills you can learn to help you navigate common career challenges.

An insurance agent is both a sales person and a customer service representative. They must know the insurance industry and insurance products inside and out to be able to sell to, and maintain insurance customers.

If you’re just starting out as an insurance agent, Parasol Leads can help. As insurance lead generation experts, we know what it takes to prospect, generate and sell in the insurance industry. Here are our tips for new insurance agents in 2017.

Prepare to be an excellent resource

It’s time to brush up on those customer service skills you may have acquired at your first jobs. Whether you worked retail, as a waiter or fast food restaurant – having customer service experience can help you be a better insurance agent. It’s customer service that often sets one insurance agency apart from their competitors. In a highly competitive industry like insurance, customer service performance is vital. Your level of customer service can be what sets you apart from other agencies and online insurance offerings. A good insurance agent understands that while their quote might not be the lowest, they can persuade a client by demonstrating the value they’ll receive from choosing you as an agent. Build trust with your clients, and let them lean on you as a resource. It will be much harder for them to leave you for a cheaper quote.

As a sales person, you must cross-sell

As the company’s sales person, it’s your job to match clients with the best insurance product to meet their specific needs, and educate prospects about the insurance products your company offers. Selling insurance is not a one-time sale, it’s about building a life-long relationship with a client that leads to multiple cross-selling opportunities. For example, you can close a deal with a client for auto insurance, but grow that relationship to include home insurance when they purchase their first home, additional car coverage when their children become of age, and so on. Learn from your colleagues. If you’re new to sales, it’s important to listen in on insurance sales calls. Hear what pitches work, and what doesn’t. Ask questions to find out what resonates most with clients. Determining what works best for you comes with experience, and soon you’ll find what sets you apart from other agents.

Don’t go at it alone

You don’t have to approach your new career independently. Most companies encourage collaboration, and learning. Look to your peers and colleagues for advice and strategies. Look outside your agency for other networking opportunities. There are several associations and LinkedIn groups dedicated to providing support for insurance agents. Parasol Leads manages the Insurance Agents Nationwide LinkedIn group, where insurance agents from across the country can share industry news, tips and more. Grow your network, and grow your career in insurance.

Be personable and relatable

Relating to your client is one of the best ways to disarm your prospect, and eliveate the sales person stigma. Instead of general small talk, ask about your prospects interests, work and family life. Focus on your client, and show them that you’re there for them. “Converations are the bedrock of relationships. Without them, our relationships are devoid of substance,” notes Maribeth Kuzmeski, contributer for LifeHealthPro.com. “Conversation is a great way to invest in others. The act of listening – the other half of having a conversation – shows people you care.”

Generating insurance leads, and prospecting for insurance can be challenging in this competitive market. Parasol Leads helps insurance companies and independent insurance agents grow with quality insurance leads that convert. We sell auto insurance leads, life insurance leads, Medicare leads and more that we generate through digital marketing efforts like search engine optimization, search marketing campaigns and social media. Contact Parasol Leads today to grow your insurance sales in 2017 with high quality insurance leads.

 

Tags: insurance sales, Insurance agents, insurance marketing, insurance agencies

Trump – 'Insurance for Everybody'

Posted by Michelle McKinley on Tue, Jan 17, 2017

As Congress Begins Work to Repeal Obamacare Trump Promises ‘Insurance for Everybody’

In an interview Saturday night with The Washington Post Trump said that he has a plan aimed at “insurance for everyone,” but offered no new details and did not address the concerns millions have Americans have who could lose their insurance if Congress successfully passes a repeal of the Affordable Care Act without a replacement.

The concerns of millions of Americans were aired during seventy rallies held across the country on Sunday. People showed up to hear speakers organize opposition to repealing the healthcare law that has made health insurance more accessible and more affordable than it has been before 2010.

The U.S. House and Senate separately passed bills last week to set up a structure for potential repeal of the Affordable Care Act.

“We’re going to have insurance for everybody. There was a philosophy in some circles that if you can’t pay for it, you don’t get it. That’s not going to happen with us,” Trump said, adding that people “can expect to have great health care. It will be in a much simplified form. Much less expensive and much better.”

Throughout his campaign Trump promised that he “would not let people die in the streets” and that there would be a healthcare plan to make sure people can get care, but he has yet to offer any details of such a plan.

Republicans in Congress have mentioned potential parts of a replacement for the ACA, however few have put forth a plan beyond what and how they would like to repeal from existing law aside from Sen. Rand Paul.

Paul shared a concept Sunday morning on CNN’s State of the Union that eliminates the ACA’s mandates and policy minimums, while introducing new tax credits and health savings accounts, and offers promises of cheaper premiums.

“There are differences of opinion about the Affordable Care Act – some like it, some don’t like it,” Sen. Bernie Sanders said at a rally Sunday, speaking to people concerned they’ll lose the insurance they have. “But very few American believe that we should repeal the ACA without a replacement program to make it better. Know we are saying to our Republican colleagues: We will not allow you to throw up to 30 million American off of health insurance.”

Tags: Insurance agents, insurance news, insurance industry, Insurance industry news

Uninsured Numbers Will Soar Under 2016 GOP Repeal Bill

Posted by Michelle McKinley on Tue, Jan 17, 2017

Premiums and the amount of uninsured people would soar under a Republican bill Congress passed last year scuttling President Barack Obama's health care overhaul, lawmakers' nonpartisan budget analyst estimated Tuesday in a report underlining the GOP's risks in its fresh push to dismantle and replace the health law. What will this mean for the insurance industry and to individual insurance agents?

The Congressional Budget Office report declared that under the 2016 repeal bill, premiums for policies bought from onlien marketplaces created by Obama's healthcare law would rise up to 25% a year after enactment of the new GOP measure. They would double by the year 2026, the report projected.

In addition to these findings, the report showed that 18 million more people would be uninsured a year after the new law's enactment, and 32 million more by the year 2016.

While Republicans have put forward several outlines for how they plan to recraft Obama's 2010 statute, they've never united behind any one plan, despite years of trying.

Trump told The Washington Post that the forthcoming GOP plan would provide "insurance for everybody." However, some congressional Republicans have used more modest descriptions, saying that the plan will ofer "universal access."

"Nonpartisan statistics don't lie: it's crystal clear that the Republican effort to repeal the Affordable Care act will increase health care costs for millions of Americans and kick millions more off of their health insurance," Senate Minority Leader Chuck Schumer, D-N.Y., said in a written statement.

Tags: insurance leads, Insurance agents, insurance industry, insurance

Repeal of the Affordable Care Act Will Affect This State Most

Posted by Michelle McKinley on Tue, Jan 17, 2017

The city where the most people would be personally affected by the Republican-led repeal of Obamacare is Miami.

According to recent data, the three congressional districts that have among the highest number of Affordable Care Act enrolless are represented by Republicans. This poses a wrinkle to those House members following their Senate colleagues voting to begin the process of dismantling the 2010 federal law that extended health insurance to as many as 20 million Americans. 

There are over 96,000 people enrolled in the Florida district represented by Republican Lleana Ros-Lehtinen, the highest number in the U.S., according to estimates by the Kaiser Family Foundation.

Her district is followed closely in terms of enrollees, by Republican carlos Curbelo, whose wouthwest Miami-Dade and Monroe County district has 92,500 enrolled in the insurance marketplaces created by Obama and the Affordable Care Act.

Rep. Frederica Wilson opposes rescinding the law,. She has the third-greatest number of enrolles at 94,100, followed by Rep. Mario Diaz-Balart, whose Hialeah to Naples district has 83,300 enrolled in the health care program.

"These numbers should give them pause," said Mangat, an allergist in St. Petersburg. "these are people whose lives have been saved or changed because of the Affordable Care Act."

Every eight out of 10 people in South Florida qualify for the ACA's advanced premium tax credit, a federal subsidy that pays an average of $324 per month toward their marketplace insurance, according to Florence French, South Florida regional director for Enroll America.

According to French, subsidy recipients pay just $75 a month or less for marketplace coverage.

"It would be a really, really devastating blow to these people to go back to the way it was in 2013 when they had no insurance and they were going into the emergency room to see a doctor rather than being able to have a primary care physician," French said.

Tags: insurance sales, Insurance agents, insurance industry

Insider Tips for Independent Insurance Agencies

Posted by Michelle McKinley on Fri, Dec 09, 2016

The insurance industry is ever evolving, and that will hold true in 2017. Is your agency ready for what’s ahead? Stay on top of trends to win big in 2017.

Helping clients identify and manage risk should be your agencies priority in 2017. “Our primary focus is to help customers identify and manage their risk profiles, therefore making their companies safer places to work and conduct business,” said Scott Woods President of Fisher Brown Bottrell Insurance Agency. “It is important for us to really understand the customer’s business operations, not just match a policy to the type of industry or SIC code.

Agencies must also reconsider hiring strategies to get ahead of industry changes.“When recruiting producer talent, we are more interested in individuals who possess consultative selling skills rather than traditional transactional selling skills or insurance experience,” says Agency Development Manager Roger Elfert of Fisher Brown Bottrell Insurance Agency. The agency, owned by Trustmark National Bank is projected to reach $36.6 million in revenue in 2016. “Individuals must possess the skills that will allow them to overcome one of the biggest hurdles: customers who have been trained to price shop.

If your insurance agency plans to bring in new products in 2017, you’ll need to focus on creating efficiency and consistency in our work processes. “When we bring a new product into the agency, I learn its functionality first, and then we determine how to best integrate the product into our processes. As we deploy a new product to account managers, we vet it based on how the producers will use it, not just to what it can do,” says Tiffany Johnston, Technology and Innovation Manager Fisher Brown Bottrell.

How is your insurance agency planning to evolve and grow in 2017? Do you plan to start selling additional products like life insurance or annuities? Add high quality insurance leads to your 2017 strategy with exclusive insurance leads from Parasol Leads.

 

Tags: Insurance agents, insurance marketing, insurance agencies, insurance

Top 4 Changes Independent Insurance Agents Can Expect in 2017

Posted by Michelle McKinley on Thu, Dec 08, 2016

Mega Insurance Investments

Funding for insurance tech startups topped $1 billion in Q1 and Q2 of 2016, and 63% of these investments took place in the United States according to CB Insights. With more than 80 deals in the first half of the year, total deal volume was up more than 42% this year, which bodes well for 2017.

The Impact of Tech on Insurance

With the rise of mobile marketing and big data, the way consumers buy insurance has changed dramatically. When houses and cars become “smart” it will impact insurance risks and coverage. While cars will become safer to drive, they will cost much more to repair due to the high price and sensitive nature of the technology inside.

The Millennial Effect

Millennials are of marrying age, becoming home buyers and starting families. As a result, their financial needs and risks are becoming more complex. Millennials prefer easy insurance buying experiences, looking to purchase insurance online. The insurance agency who can master social media and online insurance lead generation will win in 2017.

A Change in Customer Behavior

Consumers prefer to subscribe to a service, rather than simply purchase a product. That bodes well for insurance agencies who can provide personalized experiences. Make the consumer feel as though they’re buying a service rather than just an insurance policy to sell more insurance in 2017.

Tags: Insurance agents, insurance industry, insurance