Insurance Lead Generation Script - Specific Advice On How To Land A Lead Generation Contract With An

37 replies
Several people have asked me for advice in developing a lead gen biz aimed at ins agents. They told me they appreciated my real world comments in the various threads re: lead gen for ins. So, I gave them advice.

I make no bones about being an ins agency owner. I've also been in the business since 1967, off and on. I took several detours as I did 20 w/the USAF, stock broker, RE broker and mortgage banker. All of it was real world experience giving me enough selling experience to sound like I know what I am saying.

This is a long thread but worth reading if you are interested in the lead gen biz. If not, click out and read something that does interest you.

Not bragging or complaining just stating facts. I almost always relied on me to generate my own leads until one day a nice lady from a lead gen co called me. Changed my entire outlook on leads.

She sold me a program that made our agency a lot of money. This lady was a lead gen person cold calling ins agencies. She had her schtick in one sock. Since that fateful day in 2008, I've been contacted by I can't count how many lead genners. None got my business. They simply didn't know how to talk the talk.

I fully realize there are WF members who have been cold calling since Christ was a corporal. Their stuff works and works to a T. However, the lead genners using their material seem to keep coming back asking for more help. I don't understand why since it is good stuff.

So I said to myself, self this is where I think I can put an end to folks asking for more help. Here is how to get an ins agent or agency to buy your leads.

You: Good ________. This is Harriet Lead Generator. We provide leads for agents selling (health) (life) (auto) (home). With whom do I speak with at your agency about our program?

Notice: You didn't use any of the standard hang up words like who buys, how many can we start you off with, etc. All you did was ask for the decision maker.

Agency: I do. Now if you get the gatekeeper and she asks you any question at all, simply repeat you are a lead gen company and you want to speak w/the person at the agency in charge of enrolling in your program. Notice you didn't say buy, you said enrolling.

Note: Believe me, both of you know the agent will be buying but it is easier to say enroll in the intro phase of your sales presentation. As agents we also appreciate a decent sales presentation.

You: Herb, thank you for taking a few minutes with me. Our company specializes in providing ins agents w/detailed information about the prospect on the leads we send you. For example, in your case, you write auto ins. We give you the name of the vehicle owner, thier DOB, VIN, address, current coverage, deductible, carrier, other in home drivers, number of accidents and tickets by date and their driver license number. Is this the type of lead you would like?

If the agent says anything but yes, hang up. You have someone w/an IQ of around 45.5 on the phone. Please note this is a script for auto ins only. You have to modify it for home owner or life or health ins.

You: Good. We always start our new clients with a package of 10 leads. The normal price is $45 per lead but since you are just joining our team your price is only $35 per lead.

Note: Don't be afraid to ask for at least $35 per lead - $350 - for this type of lead. I guarantee that the info you delivered is worth a hell of a lot more. I give you a price because some people always want to know how much to charge.

I am a bit biased and believe if you want a biz you can sit home in your underwear or pajamas and make money from, this is it. You don't even have to leave your home to get paid. If your leads are that good, the agent will drive to your house to pay you. In what clothing you answer the door is, of course, up to you.

All you need is a great lead source. My advice is to stick w/home owner leads because you can develop auto, home, life and health from this source.

How do I know? I've done it. One of our calls gave us 18 policies from one lead. Another gave us 14. The big banger was 235 policies. Believe me, homeowner ins is the way to go unless of course you think it isn't.

I won't bother to explain why. If you can't figure it out from the last paragraph, well, what can I say?

Yes, you need a source for HO leads. I gave that to you in several other threads. Find it and you'll be money ahead before you make your first call. I don't make a dime off the source. I mention them only because they made us a lot of money and for that I am very grateful.

I hope this helps all of the would be lead gen people. Either you will start off on a solid foot or you won't. One last word, lead genning is not an easy biz. You actually have to WORK.

The purpose of this thread wasn't to teach you how to get telemarketers. Other threads have done that. Hell, me and my son were, and still are, the only TMers in our office.

Note: I recently learned of a source of potential in house TMers that won't cost you a dime. It is a federally funded program and you can't pay them if you wanted to. You won't be responsible for social security taxes, income taxes, health insurance, disability insurance, worker comp ins or anything else. How sweet is that?

You have to have an honest to goodness business NOT located in your home. This program won't send their people to work at anyone's home.

Fellow countrymen and countrywomen if you can't start a lead gen biz w/what I just gave you...
#agents #contacting #gen #ins #lead #script
  • Profile picture of the author John Durham
    Tom, if you were the Phil Keaggy of insurance lead generation and I was Eddie Van Halen... and someone asked me what it feels like to be the top guitarist in the world... I would say "I dont know , you will have to ask Phil Keaggy".

    Freakin great stuff here.
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    • Profile picture of the author ShayB
      I used to work by generating leads for insurance guys.

      Great money, worked my own hours. Loved it.

      Awesome post - thank you for sharing it.
      Signature
      "Fate protects fools, little children, and ships called Enterprise." ~Commander Riker
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  • Profile picture of the author AussieT
    I'm sure this can be adpated for other non-insurance lead gen niches also. Thanks
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  • Profile picture of the author trevstar22
    Well thats great , you found out about a special (free?) telemarketing
    deal. Would you like to tell us what it is?

    Trevor



    Originally Posted by sandalwood View Post

    Several people have asked me for advice in developing a lead gen biz aimed at ins agents. They told me they appreciated my real world comments in the various threads re: lead gen for ins. So, I gave them advice.

    I make no bones about being an ins agency owner. I've also been in the business since 1967, off and on. I took several detours as I did 20 w/the USAF, stock broker, RE broker and mortgage banker. All of it was real world experience giving me enough selling experience to sound like I know what I am saying.

    This is a long thread but worth reading if you are interested in the lead gen biz. If not, click out and read something that does interest you.

    Not bragging or complaining just stating facts. I almost always relied on me to generate my own leads until one day a nice lady from a lead gen co called me. Changed my entire outlook on leads.

    She sold me a program that made our agency a lot of money. This lady was a lead gen person cold calling ins agencies. She had her schtick in one sock. Since that fateful day in 2008, I've been contacted by I can't count how many lead genners. None got my business. They simply didn't know how to talk the talk.

    I fully realize there are WF members who have been cold calling since Christ was a corporal. Their stuff works and works to a T. However, the lead genners using their material seem to keep coming back asking for more help. I don't understand why since it is good stuff.

    So I said to myself, self this is where I think I can put an end to folks asking for more help. Here is how to get an ins agent or agency to buy your leads.

    You: Good ________. This is Harriet Lead Generator. We provide leads for agents selling (health) (life) (auto) (home). With whom do I speak with at your agency about our program?

    Notice: You didn't use any of the standard hang up words like who buys, how many can we start you off with, etc. All you did was ask for the decision maker.

    Agency: I do. Now if you get the gatekeeper and she asks you any question at all, simply repeat you are a lead gen company and you want to speak w/the person at the agency in charge of enrolling in your program. Notice you didn't say buy, you said enrolling.

    Note: Believe me, both of you know the agent will be buying but it is easier to say enroll in the intro phase of your sales presentation. As agents we also appreciate a decent sales presentation.

    You: Herb, thank you for taking a few minutes with me. Our company specializes in providing ins agents w/detailed information about the prospect on the leads we send you. For example, in your case, you write auto ins. We give you the name of the vehicle owner, thier DOB, VIN, address, current coverage, deductible, carrier, other in home drivers, number of accidents and tickets by date and their driver license number. Is this the type of lead you would like?

    If the agent says anything but yes, hang up. You have someone w/an IQ of around 45.5 on the phone. Please note this is a script for auto ins only. You have to modify it for home owner or life or health ins.

    You: Good. We always start our new clients with a package of 10 leads. The normal price is $45 per lead but since you are just joining our team your price is only $35 per lead.

    Note: Don't be afraid to ask for at least $35 per lead - $350 - for this type of lead. I guarantee that the info you delivered is worth a hell of a lot more. I give you a price because some people always want to know how much to charge.

    I am a bit biased and believe if you want a biz you can sit home in your underwear or pajamas and make money from, this is it. You don't even have to leave your home to get paid. If your leads are that good, the agent will drive to your house to pay you. In what clothing you answer the door is, of course, up to you.

    All you need is a great lead source. My advice is to stick w/home owner leads because you can develop auto, home, life and health from this source.

    How do I know? I've done it. One of our calls gave us 18 policies from one lead. Another gave us 14. The big banger was 235 policies. Believe me, homeowner ins is the way to go unless of course you think it isn't.

    I won't bother to explain why. If you can't figure it out from the last paragraph, well, what can I say?

    Yes, you need a source for HO leads. I gave that to you in several other threads. Find it and you'll be money ahead before you make your first call. I don't make a dime off the source. I mention them only because they made us a lot of money and for that I am very grateful.

    I hope this helps all of the would be lead gen people. Either you will start off on a solid foot or you won't. One last word, lead genning is not an easy biz. You actually have to WORK.

    The purpose of this thread wasn't to teach you how to get telemarketers. Other threads have done that. Hell, me and my son were, and still are, the only TMers in our office.

    Note: I recently learned of a source of potential in house TMers that won't cost you a dime. It is a federally funded program and you can't pay them if you wanted to. You won't be responsible for social security taxes, income taxes, health insurance, disability insurance, worker comp ins or anything else. How sweet is that?

    You have to have an honest to goodness business NOT located in your home. This program won't send their people to work at anyone's home.

    Fellow countrymen and countrywomen if you can't start a lead gen biz w/what I just gave you...
    {{ DiscussionBoard.errors[6066704].message }}
    • Profile picture of the author sandalwood
      Originally Posted by trevstar22 View Post

      Well thats great , you found out about a special (free?) telemarketing
      deal. Would you like to tell us what it is?

      Trevor
      Trevor,

      Just because you sound like one real peach of a guy here are two sites:

      Sierra Nevada Job Corps Center | - I bet even you can figure out what state this particular org is geared to and which one I use.

      Welcome to Job Corps - this is the federal site.

      Go get 'em and start using their services, which btw, aren't geared specifically to TM. I implied you can use them to do TMing. And, yes, they are almost free. If you live in the US and pay taxes, you are paying for them whether you know it or not or even like it or not.

      Hope you make a million.

      Tom
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  • Profile picture of the author John Durham
    @ Trevstarr,

    Interestingly, this free info probably cost him hundreds of thousands to gain. I would love to purchase a report and give back to him personally (not a fan boy).
    {{ DiscussionBoard.errors[6066748].message }}
  • Profile picture of the author digichik
    Thank you for all of the knowledge you share with us. I especially appreciate you no nonsense style, just straight to the point.

    I did take the time to read the information in the link in your signature -- Insurance Knowledge Information on Insurance. Thank you for that too.
    Signature



    {{ DiscussionBoard.errors[6067887].message }}
    • Profile picture of the author David Miller
      That's a great script and I can't help but see that it's not only the specific words that make it great, but the mechanics of it.

      I can easily see where that script structure can be the foundation of a phone script to sell virtually anything.

      Thanks so much for sharing it.
      Signature
      The big lesson in life, baby, is never be scared of anyone or anything.
      -- FRANK SINATRA, quoted in The Way You Wear Your Hat
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  • Profile picture of the author etrin
    Thank you so much for sharing this Tom! The script makes so much sense, and takes away the salesy aspect of it. Good stuff!
    {{ DiscussionBoard.errors[6070619].message }}
  • Profile picture of the author pandcguru
    Originally Posted by sandalwood View Post

    Several people have asked me for advice in developing a lead gen biz aimed at ins agents. They told me they appreciated my real world comments in the various threads re: lead gen for ins. So, I gave them advice.

    I make no bones about being an ins agency owner. I've also been in the business since 1967, off and on. I took several detours as I did 20 w/the USAF, stock broker, RE broker and mortgage banker. All of it was real world experience giving me enough selling experience to sound like I know what I am saying.

    This is a long thread but worth reading if you are interested in the lead gen biz. If not, click out and read something that does interest you.

    Not bragging or complaining just stating facts. I almost always relied on me to generate my own leads until one day a nice lady from a lead gen co called me. Changed my entire outlook on leads.

    She sold me a program that made our agency a lot of money. This lady was a lead gen person cold calling ins agencies. She had her schtick in one sock. Since that fateful day in 2008, I've been contacted by I can't count how many lead genners. None got my business. They simply didn't know how to talk the talk.

    I fully realize there are WF members who have been cold calling since Christ was a corporal. Their stuff works and works to a T. However, the lead genners using their material seem to keep coming back asking for more help. I don't understand why since it is good stuff.

    So I said to myself, self this is where I think I can put an end to folks asking for more help. Here is how to get an ins agent or agency to buy your leads.

    You: Good ________. This is Harriet Lead Generator. We provide leads for agents selling (health) (life) (auto) (home). With whom do I speak with at your agency about our program?

    Notice: You didn't use any of the standard hang up words like who buys, how many can we start you off with, etc. All you did was ask for the decision maker.

    Agency: I do. Now if you get the gatekeeper and she asks you any question at all, simply repeat you are a lead gen company and you want to speak w/the person at the agency in charge of enrolling in your program. Notice you didn't say buy, you said enrolling.

    Note: Believe me, both of you know the agent will be buying but it is easier to say enroll in the intro phase of your sales presentation. As agents we also appreciate a decent sales presentation.

    You: Herb, thank you for taking a few minutes with me. Our company specializes in providing ins agents w/detailed information about the prospect on the leads we send you. For example, in your case, you write auto ins. We give you the name of the vehicle owner, thier DOB, VIN, address, current coverage, deductible, carrier, other in home drivers, number of accidents and tickets by date and their driver license number. Is this the type of lead you would like?

    If the agent says anything but yes, hang up. You have someone w/an IQ of around 45.5 on the phone. Please note this is a script for auto ins only. You have to modify it for home owner or life or health ins.

    You: Good. We always start our new clients with a package of 10 leads. The normal price is $45 per lead but since you are just joining our team your price is only $35 per lead.

    Note: Don't be afraid to ask for at least $35 per lead - $350 - for this type of lead. I guarantee that the info you delivered is worth a hell of a lot more. I give you a price because some people always want to know how much to charge.

    I am a bit biased and believe if you want a biz you can sit home in your underwear or pajamas and make money from, this is it. You don't even have to leave your home to get paid. If your leads are that good, the agent will drive to your house to pay you. In what clothing you answer the door is, of course, up to you.

    All you need is a great lead source. My advice is to stick w/home owner leads because you can develop auto, home, life and health from this source.

    How do I know? I've done it. One of our calls gave us 18 policies from one lead. Another gave us 14. The big banger was 235 policies. Believe me, homeowner ins is the way to go unless of course you think it isn't.

    I won't bother to explain why. If you can't figure it out from the last paragraph, well, what can I say?

    Yes, you need a source for HO leads. I gave that to you in several other threads. Find it and you'll be money ahead before you make your first call. I don't make a dime off the source. I mention them only because they made us a lot of money and for that I am very grateful.

    I hope this helps all of the would be lead gen people. Either you will start off on a solid foot or you won't. One last word, lead genning is not an easy biz. You actually have to WORK.

    The purpose of this thread wasn't to teach you how to get telemarketers. Other threads have done that. Hell, me and my son were, and still are, the only TMers in our office.

    Note: I recently learned of a source of potential in house TMers that won't cost you a dime. It is a federally funded program and you can't pay them if you wanted to. You won't be responsible for social security taxes, income taxes, health insurance, disability insurance, worker comp ins or anything else. How sweet is that?

    You have to have an honest to goodness business NOT located in your home. This program won't send their people to work at anyone's home.

    Fellow countrymen and countrywomen if you can't start a lead gen biz w/what I just gave you...

    Am i missing something here? nice post but the it seems pretty str8 forward and obvious (maybe coz im a sales guy)
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    • Profile picture of the author sandalwood
      Originally Posted by pandcguru View Post

      Am i missing something here? nice post but the it seems pretty str8 forward and obvious (maybe coz im a sales guy)
      Pandcguru,

      The only thing you are missing is the info in some of the other threads on lead gen. Seems people were asking the same stuff so I simply put my thoughts to paper so to speak.

      Tom
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      • Profile picture of the author pandcguru
        Originally Posted by sandalwood View Post

        Pandcguru,

        The only thing you are missing is the info in some of the other threads on lead gen. Seems people were asking the same stuff so I simply put my thoughts to paper so to speak.

        Tom
        Got you, I read some of your other posts...seems like you are more geared towards telemarketing vs internet lead gen. Mind sharing why that is?
        {{ DiscussionBoard.errors[6074381].message }}
        • Profile picture of the author sandalwood
          Originally Posted by pandcguru View Post

          Got you, I read some of your other posts...seems like you are more geared towards telemarketing vs internet lead gen. Mind sharing why that is?
          Our agency is a two man affair - my son and I. It is far easier for me to call people using cole information leads and bring them into the office. We are client oriented meaning we want clients to buy from us. We do not generate leads to sell although we are looking at building a life lead gen site.

          My advice has been geared to helping people who want to be lead genners on how to contact an agency, how to price the leads, where to get them, how to develop them so you will never run out of buyers, etc.

          Also, internet generated leads have never been good, at least for us. Too many tire kickers and other various personalities. It is easier for us to use the phone and screen clients. Believe it or not I don't want a pile of leads. I want a pile of QUALIFIED leads. The internet, to date, hasn't provided that.

          Hope that answers your request.

          Tom
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          • Profile picture of the author pandcguru
            Originally Posted by sandalwood View Post

            Our agency is a two man affair - my son and I. It is far easier for me to call people using cole information leads and bring them into the office. We are client oriented meaning we want clients to buy from us. We do not generate leads to sell although we are looking at building a life lead gen site.

            My advice has been geared to helping people who want to be lead genners on how to contact an agency, how to price the leads, where to get them, how to develop them so you will never run out of buyers, etc.

            Also, internet generated leads have never been good, at least for us. Too many tire kickers and other various personalities. It is easier for us to use the phone and screen clients. Believe it or not I don't want a pile of leads. I want a pile of QUALIFIED leads. The internet, to date, hasn't provided that.

            Hope that answers your request.

            Tom
            Couldn't have said it better myself...iv'e used cole before and also sales genie and have had luck using a automated quote engine to mail out homeowners quotes, we closed a good number of those and still do decent numbers. The thing I hate about cold calling is I am constantly having to hire folks and train and wait for the learning curve for them to generate good solid leads. The longest I am able to keep a cold caller is usually 6-12 months. Pounding the phones all day and hearing all those no's takes a toll on them and because im in such a competitive employment market someone else is able to nab them from me. Iv tried using Odesk and don't get great results althoug i do have 2 cold callers on odesk that are pretty decent and give me 2-4 leads a day each working 6 hrs a day.

            Also, I have a huge hole in my pocket from buying internet leads for the past 5 years from companies such as Insureme, agent insider, netquote etc and after 5 years im tired of being raped so to speak. So, im bulding a lead generating website and im going to try my luck at SEO and PPC to try and generate traffic and see if I can generate my own leads and possibly sell some to other agents. So far I have been reading a whole lot trying to equip myself with enough knowledge to hire a good SEO guy, a good site builder and to learn more about the affiliate marketing biz. If anyone thinks i'm naive to think i can penetrate the highly competitive auto insurance market please let me know as i tend to think too big sometimes
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            • Profile picture of the author sandalwood
              Originally Posted by pandcguru View Post

              Couldn't have said it better myself...iv'e used cole before and also sales genie and have had luck using a automated quote engine to mail out homeowners quotes, we closed a good number of those and still do decent numbers. The thing I hate about cold calling is I am constantly having to hire folks and train and wait for the learning curve for them to generate good solid leads. The longest I am able to keep a cold caller is usually 6-12 months. Pounding the phones all day and hearing all those no's takes a toll on them and because im in such a competitive employment market someone else is able to nab them from me. Iv tried using Odesk and don't get great results althoug i do have 2 cold callers on odesk that are pretty decent and give me 2-4 leads a day each working 6 hrs a day.

              2-4 leads a day is pretty good from them or so I've been told.

              Also, I have a huge hole in my pocket from buying internet leads for the past 5 years from companies such as Insureme, agent insider, netquote etc and after 5 years im tired of being raped so to speak.

              We found them to be pretty useless. One of insurers got us a hell of a discount w/one site and it too turned out crappy.

              So, im bulding a lead generating website and im going to try my luck at SEO and PPC to try and generate traffic and see if I can generate my own leads and possibly sell some to other agents. So far I have been reading a whole lot trying to equip myself with enough knowledge to hire a good SEO guy, a good site builder and to learn more about the affiliate marketing biz.

              My son has been doing the Internet stuff for about a year. He's built a site for a second tier Wall St firm and a few others. When he has time he will build a life gen site so we can practice in that arena. I have two people in CA who will buy all the CA leads we develop. Good luck w/your endeavor.


              If anyone thinks i'm naive to think i can penetrate the highly competitive auto insurance market

              I don't see how you can't penetrate it. Truth is, if you write for multiple carriers one of them will probably give you the infrastructure to help you. They do compete between themselves. If you can't get help let me know and we'll do a collaborative effort since we are both in the same biz. Have to help a fellow ins guy or incur the wrath of the patron saint of ins agents.

              please let me know as i tend to think too big sometimes
              have a great day...
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              • Profile picture of the author pandcguru
                Originally Posted by sandalwood View Post

                have a great day...
                most definitely....will keep in touch and let you know how the adventure goes
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                • Profile picture of the author sandalwood
                  Originally Posted by pandcguru View Post

                  most definitely....will keep in touch and let you know how the adventure goes
                  Yeah, I gotta know how another ins guy makes out. This really is a fun business and this miserable beast called the Internet has added a spark to the game.
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          • Profile picture of the author ivanela33
            [QUOTE=sandalwood;6078205]My advice has been geared to helping people who want to be lead genners on how to contact an agency, how to price the leads, where to get them, how to develop them so you will never run out of buyers, etc.[/QUOTE

            With cole, you only get access to basic information of people's name, address with expiring policies? How can you provide the other information you mentioned like age, driving history, etc.?

            Great info. BTW
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            • Profile picture of the author sandalwood
              [quote=ivanela33;6083505]
              Originally Posted by sandalwood View Post

              My advice has been geared to helping people who want to be lead genners on how to contact an agency, how to price the leads, where to get them, how to develop them so you will never run out of buyers, etc.[/QUOTE

              With cole, you only get access to basic information of people's name, address with expiring policies? How can you provide the other information you mentioned like age, driving history, etc.?

              Great info. BTW
              We have a form we created listing all the information we need. My son actually came up with it when he was managing a chain of stores b4 we opened our agency. That's how we do it. How the others do it is beyond me.

              While we have them on the phone we also ask other q's not on the form. We want to convert them to life and health as well. Works like a charm w/certain people.

              Hope I answered your question.

              Tom
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              • Profile picture of the author ivanela33
                So basically as a lead genner, you get all this information from a lead, package it together and sell this as a warm lead to an insurance agency? This is the part that I'm a bit confused with.
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                • Profile picture of the author sandalwood
                  Originally Posted by ivanela33 View Post

                  So basically as a lead genner, you get all this information from a lead, package it together and sell this as a warm lead to an insurance agency? This is the part that I'm a bit confused with.
                  No, I own an ins agency. We used cole information as our lead source and figured out how to turn their leads into a real lead machine. We don't sell any leads to anyone as of yet. We are talking about building a life lead gen site. If we do, we will sell those leads unless we decide to write the business.

                  Math wise it is in our best interest to write the policies we generate here in NV. We will probably get leads from CA so we will sell those leads to agents in CA. When I say math wise I mean our commission for writing a policy is umpteen times more than the 50 or 60 bux we could sell it for.

                  My son and I are licensed and appointed agents in NV. We opened an agency to generate a ton of revenue and not to sell leads. Since I have been posting in the various threads looking for info on how to do a lead gen biz, I added this thread.

                  That's it, nothing more nothing less. If you are interested in learning more, visit my other posts and you will find it is all laid out. We basically don't give a rat's ass about becoming lead genners. Too much work for too little return. However, if the life lead site works out we will be lead genners by default. We also know how to price life leads given we are in the biz and have an insider's, so to speak, perspective.

                  Have a great day and I hope I UNconfused you.

                  Tom
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                • Profile picture of the author Deidra Renee
                  Originally Posted by ivanela33 View Post

                  So basically as a lead genner, you get all this information from a lead, package it together and sell this as a warm lead to an insurance agency? This is the part that I'm a bit confused with.
                  If you're generating telemarketed leads for the agent you would call from your list and gather any information they need to qualify the person as a good lead..age, dob, current deductible, etc.. and then yes; you pass that information on to the agent and they meet with the person (or call them) and try and close the person, but your only job is to generate the leads.

                  You get paid upfront, so you don't have to depend on the agents selling abilities. I had an agent try to get me to sell him leads for $10 each, and $45 more IF he sold..that was a red flag for me. First of all this isn't the flea market, who does anything for $10?? lol and second it showed me he wasn't that confident in his closing skills.

                  Anyway, to anyone reading this thread that does lead generation; if you could point me to a good script for mortgage protection it would be greatly appreciated. I have 3 agents asking for those type of leads. I guess I could do a quick google search..I'm lazy!
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  • Profile picture of the author etrin
    what kind of revenue can be made in the insurance field...just curious.
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    • Profile picture of the author sandalwood
      Originally Posted by etrin View Post

      what kind of revenue can be made in the insurance field...just curious.
      Is the question based on being a lead gen person or being an agent?

      Never tried making money as a lead gen person so I don't know. As an agent, it is like everything else. If you work, your checks are large. If you don't, your checks are tiny.

      Insurance also has a residual payment built into the system. For example, let's say an auto client stays with you for six years. You get a commission every time they pay their premium. Life works the same way except the commission is higher.

      Hope I answered your question.

      Tom
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      • Profile picture of the author sandalwood
        @Deidra,

        You wrote:

        "Anyway, to anyone reading this thread that does lead generation; if you could point me to a good script for mortgage protection it would be greatly appreciated."

        I don't do lead generation as you know from this thread. However I do sell the stuff. Here is my experience with mtg pro leads. The cos writing this type of biz have saturated the US with mailings. The HO fills out the enclosed postcard and mails it into the ins co. The ins co in turn sells it to their agents.

        The price an agent pays for this type of lead is almost always $30 to $35 or less per lead. I know of cos trying to hustle their agents for $75 but they aren't getting anywhere. If an agent is smart he can use cole information or infofree for this biz and only pay 30 to 35 a month instead of per lead.

        I'm not trying to be a wet blanket I'm only telling you what I know from actually doing it. Because the agent is the epicenter for lead payment, we've been forced to find ways to keep our money in our pocket. We get hit from all sides so we tend to devise ways to get our own leads. I mean those of us who actually work at the biz.

        One mtg pro source, and it is free, is to get a list of new homeowners from the local title company. Not every locale has this opportunity however.

        Another good free source is a friendly real estate agent. He or she can dig them out of the MLS if the MLS keeps those records. Again, that may not be available everywhere but if it is in your area use it.

        BTW, I am aware of at least two very large insurance marketing organizations (IMO) that also hustle the population for mtg pro leads. By large I mean they write business in all 50 states and have an agent base into the thousands. If I was w/them, I wouldn't buy my leads from anyone else.

        You may not want to hear that but you should know it exists. There is a lot to this biz not being said. And it probably isn't being said because the tellers of the tales don't know the nuances in the field. They've never been down and dirty so to speak.

        I wish you luck in finding your script. If you find a good one, let me know :-)

        Tom
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        • Profile picture of the author sandalwood
          @Sharp,

          You wrote:

          "Tom - Why not license in other states? At least hook-up with a decent brokerage house and flip them to the strong agents in a given state for ..err.. 'marketing consideration' instead of selling the lead. I'd never sell a lead that well qualified. Too many people who have a track record of results are willing to pay an ever changing marketing check on a monthly basis for me to take cents upfront instead of dollars after."

          I hear ya and know what you are saying is sound. However, I'm not sure we will morph into the lead gen biz. Like I said above it is too time consuming for too little money according to me. I don't want to work that hard to be honest.

          At the tender age of 67 I thank the good Lord Al Gore invented (he says smirking) the Internet. My son and I are branching into web design and marketing. We have several clients and one of them is a Wall St firm. I won't go into specifics but when we fell into this one we came out smelling like a rose bush never mind a single rose.

          We also have a site we will be launching by the end of the month that should produce a steady 5 figure monthly income. Somebody else already wrote a post about their venture in this arena and they are up to, if I remember, 5K a month.

          We happen to have a mailing list of 250K names we've just been sitting on. All good names and the list has been checked once, twice and three times. Obviously some have fallen off that's why there are only 250K.

          Add to that we have a proprietary product that should take the Internet by storm, I don't believe lead gen is for us. One guy already had a signed 6 figure check he wanted us to take so he could get a piece of the action. We said, whoa tiger, it is Internet based and we don't need your money. Should have seen his eyes,ha ha.

          Anyway this sounds like I'm bragging so I'll stop. All I'll say is thank God for the Internet. It gives little schmucks like us a chance to make huge STEADY money.

          Have a great day...

          Tom
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          • Profile picture of the author jmerc
            Hi Tom,
            Great post! Which type of insurance do you specialize in, and after you & your son generate the leads, do you sell the insurance online or face to face?
            Thanks for the great information!
            Judy
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            • Profile picture of the author sandalwood
              Originally Posted by jmerc View Post

              Hi Tom,
              Great post! Which type of insurance do you specialize in, and after you & your son generate the leads, do you sell the insurance online or face to face?
              Thanks for the great information!
              Judy
              Judy,

              Auto and home and we do not sell online. We are face to face kind of guys.

              You are welcome for the information.

              We also sell as much life as we can. The commish is higher.

              Tom
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        • Profile picture of the author Deidra Renee
          Originally Posted by sandalwood View Post

          @Deidra,

          You wrote:

          "Anyway, to anyone reading this thread that does lead generation; if you could point me to a good script for mortgage protection it would be greatly appreciated."

          I don't do lead generation as you know from this thread. However I do sell the stuff. Here is my experience with mtg pro leads. The cos writing this type of biz have saturated the US with mailings. The HO fills out the enclosed postcard and mails it into the ins co. The ins co in turn sells it to their agents.

          The price an agent pays for this type of lead is almost always $30 to $35 or less per lead. I know of cos trying to hustle their agents for $75 but they aren't getting anywhere. If an agent is smart he can use cole information or infofree for this biz and only pay 30 to 35 a month instead of per lead.

          I'm not trying to be a wet blanket I'm only telling you what I know from actually doing it. Because the agent is the epicenter for lead payment, we've been forced to find ways to keep our money in our pocket. We get hit from all sides so we tend to devise ways to get our own leads. I mean those of us who actually work at the biz.

          One mtg pro source, and it is free, is to get a list of new homeowners from the local title company. Not every locale has this opportunity however.

          Another good free source is a friendly real estate agent. He or she can dig them out of the MLS if the MLS keeps those records. Again, that may not be available everywhere but if it is in your area use it.

          BTW, I am aware of at least two very large insurance marketing organizations (IMO) that also hustle the population for mtg pro leads. By large I mean they write business in all 50 states and have an agent base into the thousands. If I was w/them, I wouldn't buy my leads from anyone else.

          You may not want to hear that but you should know it exists. There is a lot to this biz not being said. And it probably isn't being said because the tellers of the tales don't know the nuances in the field. They've never been down and dirty so to speak.

          I wish you luck in finding your script. If you find a good one, let me know :-)

          Tom
          I've already told them I don't usually do mortgage protection..only homeowner's and health. I will try and help them out though if I can find a good script, but thanks for the information.
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  • Profile picture of the author sharp
    etrin - Lots.

    If you want more than that... Google-fu 'insurance broker commissions' +homeowners or auto or life or annuity and have a party.

    The licensing is absurdly easy and the companies will give you (basically) anything you want as a broker to sell their stuff. I *strongly* urge you to avoid being a 'captive agent' personally.

    The 'key' in my opinion is that directly licensing with the carrier is usually not as good a deal (or even possible) than hooking up with a decent brokerage house. You'll get paid over Street from day 1 (and at least Agency if not RVP if you're not a jerk and decent at your phone work). ...but do remember that if you're new getting support is worth more than an extra point on the deal.

    Anyway, plenty of decent insurance guys are bringing home 10k+ plus a month. I found it boring, and sucked at running it as a 'business' instead of as a 'job' so I gave it up... Heh, had I known then than I couldn't just repeat my 10k-20k net months with anything else I tried even remotely as easily I might have worked harder and learning to make it a 'business' after all.

    Tom - Why not license in other states? At least hook-up with a decent brokerage house and flip them to the strong agents in a given state for ..err.. 'marketing consideration' instead of selling the lead. I'd never sell a lead that well qualified. Too many people who have a track record of results are willing to pay an ever changing marketing check on a monthly basis for me to take cents upfront instead of dollars after.
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  • Profile picture of the author IMAdam
    Tom, Some great info and an interesting perspective on the insurance business. Having worked for a major insurance company in the past(small business commercial IT support), and learned the lingo, along with learning probably more than I ever wanted to about the insurance business, I was always under the assumption that most producers mainly got leads by bugging family members and friends and via referrals. You've certainly peeked my interest with your resources.


    It's interesting you point to gunning for personal lines leads rather than commercial. Most of the analyst and underwriters I knew always said there wasn't much money in personal and commercial is where it was at. Any insight on that? As you already hinted providing leads with that much info and tapping into an already established lead sources is would command a pretty hefty amount to make it worth any time spent. So why shouldn't someone just go get their license, hook up with a decent agent representing multiple quality ins co's and submitting the business them selves? Any insights on how to get started as a producer and how to best close insurance leads?
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    • Profile picture of the author sandalwood
      Originally Posted by IMAdam View Post

      Tom, Some great info and an interesting perspective on the insurance business. Having worked for a major insurance company in the past(small business commercial IT support), and learned the lingo, along with learning probably more than I ever wanted to about the insurance business, I was always under the assumption that most producers mainly got leads by bugging family members and friends and via referrals. You've certainly peeked my interest with your resources.


      It's interesting you point to gunning for personal lines leads rather than commercial. Most of the analyst and underwriters I knew always said there wasn't much money in personal and commercial is where it was at. Any insight on that? As you already hinted providing leads with that much info and tapping into an already established lead sources is would command a pretty hefty amount to make it worth any time spent. So why shouldn't someone just go get their license, hook up with a decent agent representing multiple quality ins co's and submitting the business them selves? Any insights on how to get started as a producer and how to best close insurance leads?
      IMAdam,

      I do apperciate the nice words. Makes an old man feel good. :-)

      What I am about to say comes from my perspective as an actual behind the desk kind of guy. I fully understand people do things their way and that's OK by me. Hell, I ain't no smarter than anyone else. I just work differently.

      The old school, and to some extent some new school people, told producers the way to start off with a bang in this industry is to start w/your family members and friends. To a degree this is still true if your product(s) fill their need. Sometimes your product only confuses the hell out of them and causes. let's call it dysfunction.

      If you are serious about becoming a check cashing agent, that is staying in the business, family and friends can be a good start. On the other hand, we elected to do it another way. We used that magic instrument called the telephone and away we ran. As I've stated too many times b4 a beautiful angel entered our office via ma bell and changed our cold calling direction.

      As for referrals, a new person probably won't get too many of those. On the other hand, if you are from one of the town's old family, referrals should be a snap. I know a fellow here in Reno who entered the biz about 30 years ago and never made a cold call. Why? His family has been here since God invented dirt. Not many of us have that bit of luck.

      Let me address commercial. You can make a ton of money w/that line. After all, the premiums can be huge. Our experience, albeit on a small scale, told us that ain't where we want to be. Two things told us that. One the length of time it takes for the deal to finalize. Two, shopping it w/various companies. If you think lying is a lost art in this business, think again. UWs, some of them anyway, will lie, lie, lie. After they finish the one holding the bag is the agent.

      We decided we'd take the low hanging fruit and keep cashing checks. As for people getting a license and doing it themselves, I'm all for it. However, and this is jsut my speculation, the people who gear themselves to lead genning don't want to take the time to get a license and learn the trade. They believe the "real" money is in selling leads to agents.

      Like I said in one of my posts, for some people it truly is. I suspect though for the remainder, it isn't. But, who am I to tell you not to try. People forget that in this country they have two rights. The right to succeed and the right to fail.

      I could go on for days about those 2 but why clutter up a good thread w/such info?

      Again, if you want to take the time to get a license, please do. If you like making anywhere between 15 and 120 percent of premium, you might like being an agent. That is a choice for each individual.

      Onto closing leads. How would you do it given you've been in the belly of the beast? You understand the lingo and "more than I ever wanted to about the insurance business" so you shouldn't have a problem in the field.

      Here is where people fall short in the field. It doesn't make a tinker's dam how much you know about insurance. The client doesn't care. They want to know you have the right polciy at the right premium for their situation. They want to know you will be there tomorrow if they have a problem.

      Believe me when I say you aren't selling insurance. You are selling you. If you can put your mind around that concept, you'll never sell a policy. Your clients will BUY them and send their friends, family and strangers.

      How do I know? We have done it. Read some of my other posts and you'll see the type of referrals we've gotten.

      Let me end this long puppy with a suggestion. Decide if you want to be in this business. If you do, learn how to translate you into a one man helping machine insurance wise. After awhile people will know they can come to you with ALL of their insurance questions and get the answer that is right for them.

      Build it and they will come...
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      • Profile picture of the author IMAdam
        Originally Posted by sandalwood View Post

        IMAdam,

        I do apperciate the nice words. Makes an old man feel good. :-)

        What I am about to say comes from my perspective as an actual behind the desk kind of guy. I fully understand people do things their way and that's OK by me. Hell, I ain't no smarter than anyone else. I just work differently.

        The old school, and to some extent some new school people, told producers the way to start off with a bang in this industry is to start w/your family members and friends. To a degree this is still true if your product(s) fill their need. Sometimes your product only confuses the hell out of them and causes. let's call it dysfunction.

        If you are serious about becoming a check cashing agent, that is staying in the business, family and friends can be a good start. On the other hand, we elected to do it another way. We used that magic instrument called the telephone and away we ran. As I've stated too many times b4 a beautiful angel entered our office via ma bell and changed our cold calling direction.

        As for referrals, a new person probably won't get too many of those. On the other hand, if you are from one of the town's old family, referrals should be a snap. I know a fellow here in Reno who entered the biz about 30 years ago and never made a cold call. Why? His family has been here since God invented dirt. Not many of us have that bit of luck.

        Let me address commercial. You can make a ton of money w/that line. After all, the premiums can be huge. Our experience, albeit on a small scale, told us that ain't where we want to be. Two things told us that. One the length of time it takes for the deal to finalize. Two, shopping it w/various companies. If you think lying is a lost art in this business, think again. UWs, some of them anyway, will lie, lie, lie. After they finish the one holding the bag is the agent.

        We decided we'd take the low hanging fruit and keep cashing checks. As for people getting a license and doing it themselves, I'm all for it. However, and this is jsut my speculation, the people who gear themselves to lead genning don't want to take the time to get a license and learn the trade. They believe the "real" money is in selling leads to agents.

        Like I said in one of my posts, for some people it truly is. I suspect though for the remainder, it isn't. But, who am I to tell you not to try. People forget that in this country they have two rights. The right to succeed and the right to fail.

        I could go on for days about those 2 but why clutter up a good thread w/such info?

        Again, if you want to take the time to get a license, please do. If you like making anywhere between 15 and 120 percent of premium, you might like being an agent. That is a choice for each individual.

        Onto closing leads. How would you do it given you've been in the belly of the beast? You understand the lingo and "more than I ever wanted to about the insurance business" so you shouldn't have a problem in the field.

        Here is where people fall short in the field. It doesn't make a tinker's dam how much you know about insurance. The client doesn't care. They want to know you have the right polciy at the right premium for their situation. They want to know you will be there tomorrow if they have a problem.

        Believe me when I say you aren't selling insurance. You are selling you. If you can put your mind around that concept, you'll never sell a policy. Your clients will BUY them and send their friends, family and strangers.

        How do I know? We have done it. Read some of my other posts and you'll see the type of referrals we've gotten.

        Let me end this long puppy with a suggestion. Decide if you want to be in this business. If you do, learn how to translate you into a one man helping machine insurance wise. After awhile people will know they can come to you with ALL of their insurance questions and get the answer that is right for them.

        Build it and they will come...

        Tom,

        Great info as usual. You've certainly given me some food for thought and you've fortified the notion about these "leads" being too valuable to give up for a few bucks.

        The only way generating insurance leads would become a worth while venture would be to setup a lead gen machine. For the small guy doing cold calling to get all those details agents want, I can't see it paying off to well, as you've already mentioned.
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    • Profile picture of the author debml
      Originally Posted by IMAdam View Post

      It's interesting you point to gunning for personal lines leads rather than commercial. Most of the analyst and underwriters I knew always said there wasn't much money in personal and commercial is where it was at. Any insight on that? As you already hinted providing leads with that much info and tapping into an already established lead sources is would command a pretty hefty amount to make it worth any time spent. So why shouldn't someone just go get their license, hook up with a decent agent representing multiple quality ins co's and submitting the business them selves? Any insights on how to get started as a producer and how to best close insurance leads?
      Getting a license and finding a company or an agent or broker to work with is the easy part. The industry has an incredibly high attrition rate with the number one reason for agent failure being an inability or an unwillingness to prospect.

      From my perspective, the biggest reason I would advocate getting licensed yourself is the residual income that can be built. If you're only providing leads, every day you have to generate more leads to keep getting paid.

      If I were to wake up tomorrow and decide that my drug of choice has become not working... at least I have money coming in monthly...

      There's plenty of money for the person willing to prospect in any market niche they choose within this industry. The real answer to your question regarding which market is best is, which one will YOU are willing and able to prospect most effectively and efficiently.
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      • Profile picture of the author IMAdam
        Originally Posted by debml View Post

        Getting a license and finding a company or an agent or broker to work with is the easy part. The industry has an incredibly high attrition rate with the number one reason for agent failure being an inability or an unwillingness to prospect.

        From my perspective, the biggest reason I would advocate getting licensed yourself is the residual income that can be built. If you're only providing leads, every day you have to generate more leads to keep getting paid.

        If I were to wake up tomorrow and decide that my drug of choice has become not working... at least I have money coming in monthly...

        There's plenty of money for the person willing to prospect in any market niche they choose within this industry. The real answer to your question regarding which market is best is, which one will YOU are willing and able to prospect most effectively and efficiently.

        Deb,

        You make some great points. The residuals are certainly key.

        As for your comment on agent's rate failure, we had a running joke in the office that if you failed in any other industry you could always go sell insurance. lol No offense to the hard working, good insurance sales men/women reading this, but we came across some pretty dense and lazy agents and some of them did well selling insurance. So there must be something to that saying.
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  • Profile picture of the author Saito
    I hear what Tom is saying. I am generating home seller leads and selling 90% of them to real estate agents after a live answering company speaks with inbound responses and asks them 8-10 qualifying questions.

    But the whole point of generating leads is to find great property deals that can be bought way under market value, or wholesale to another investor for a minimum of $5000.

    The 8-10 answers are emailed to me in a lead form for each lead that calls. I follow up on the ones that look like they will discount and forward the rest to agents to buy on a per-lead basis.

    I am going to try closing a few other business and charge them for the same seller leads, too, like contractors, carpet companies, etc. But my point is that selling the leads is just Plan B...a way to subsidize my lead gen marketing costs.

    I don't want to blow out the lead-selling portion of our business for this reason because I would repeat what I'm doing in other cities before I made a bunch of sites for lawn mowing leads, etc. The potential is just not there. Go with what has the MOST potential for your business model.
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  • Profile picture of the author Rearden
    I sell burial insurance and would gladly pay $400 for 10 qualified leads that I could close 50% of them...

    ...And so would most life agents I'm in daily contact with.

    So many of us hate prospecting cold and will give someone else money to do the dirty work for us. If you can produce high quality leads and have a track record of doing so, you can pretty much write your own ticket.
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