Recently, we hired a research firm to conduct a survey for active agents. Among these agents, some were clients of ours and some were not. This was to help us learn about your sales habits and what you look for in an insurance lead provider. After all, we can only do our job properly once we know what helps you do yours.

The results have provided us with quite a bit of insight here at QuoteWizard. While most of the findings matched our expectations of professionals in insurance sales, there were also other areas we discovered that could help us expand our services to better meet your needs. 

Who We Polled

The majority of agents we serve sell life insurance (85 percent). Health insurance (49 percent) comes second, and auto insurance falls not too far behind. For the survey, we wanted to examine a cross-section of agents to create a background of varied interest and experience.

  • We surveyed 202 non-client agents, and 130 current clients to get more accurate results
  • Nearly three-fourths of all agents polled (74 percent) have been buying online leads for over four years
  • A total of 77 percent of agents participating in the survey have been in business for five years or more
  • 70 percent of polled agents don’t intend to purchase insurance leads in the near future, but 73 percent were interested in learning more

What Do You Want from an Insurance Lead Provider?

Perhaps the most important question in our survey was asking what agents want in an insurance lead provider. Of course, good customer service, account customization, and company transparency are all important factors. However, the three things that impact your business the most are:

  • Accurate, quality, high intent leads (87 percent)
  • Useful return policy (70 percent)
  • Limited distribution (73 percent)

Where Do Agents Get Their Leads?

You know you can get leads from lead providers. There are other means of getting high-quality leads, though. The question you must ask is, "Where can I find the biggest and best insurance leads?" According to our clients, the primary leads source for agents include:

  • Lead providers (86 percent)
  • Referrals (65 percent)
  • Corporate programs (19 percent)
  • Offline advertising (9 percent)

Clearly, lead providers are a top source for finding high-quality leads. Moreover, when it comes to finding lead providers, the top three companies currently in use are:

  • NetQuote
  • QuoteWizard
  • InsureMe

How Much Are Agents Spending on Leads?

Depending on where your leads come from determines how much you'll spend on attaining those leads. Of the agents polled, 39 percent buy 100 or more leads per month. This breaks down in average cost to:

  • $500+ (62 percent)
  • $1,000-$2,500 (25 percent)
  • $2,500+ (15 percent)

The Future of Insurance Sales

We look ahead to the next few years for insurance lead generation. We expect technology to continue playing a significant role in leads. About 54 percent of agents say they are confident in their technology skills, and will look to the Internet for lead generation.

It makes sense. The Internet is now one of the main sources for business transactions. More consumers are turning to online shopping to browse for insurance. This means that more agents will look online for potential leads, and we at QuoteWizard will do the same.

The websites you use to make finding and closing leads will matter most. Google has a clear lead in internet searching, but other social media websites get a significant amount of traffic as well. These networks include:

  • Facebook
  • Yahoo
  • Amazon
  • MSN
  • LinkedIn
  • Zillow

We can't stress enough how much of an impact a strong social media campaign can have on finding high-quality insurance leads. Social media is fast, friendly, and simple. Online consumers and shoppers want instant gratification, and the easiness and amiable atmosphere of social media provides them with that.

As agents, you must look to online platforms to find worthy business and use them to their fullest potential. The percentage of people who shop online or use social media is only increasing, and you must follow this trend.

All in all, we are incredibly happy with where the results have lead us. These agents who rely on insurance leads are tech-savvy, driven, and in search of long-term relationships with a lead provider they trust. Lead conversion tactics and reliable business tips and practices interest them. In addition, they know that integrating more social media and technology into their business will benefit them in the long run. Perhaps most importantly, they're willing to share their thoughts and opinions. They know that every contributing word will help shape the future of insurance leads, and how companies like ours are so crucial to maintaining a strong foundation for the industry.

What do you think of these statistics and trends? What are you looking for in an insurance lead provider?