Lead Generation Techniques for Auto Insurance

For success in any business, it is essential to focus on our core area. If we are in the business of auto insurance, we need to focus on providing quality service to our clients. However, the billion dollar question is should we have an in-house lead generation department or should we delegate the responsibility to a telemarketing lead agency with experience in commercial truck insurance leads generation techniques.

The decision is easy; determine the opportunity cost of having our lead generation team or outsourcing it to a telemarketing lead agency. We will find that the professional expertise that leads generation agencies have to generate business far outweighs the cost.

For an in-house lead-generation team, we need to consider the costs – wages, space, software, hardware, electricity and so on. We also must remember that our in-house staff would probably be more productive in other tasks than telemarketing.

Advantageous Best Techniques to Follow for Auto Insurance Lead Generation

As far as strategies for insurance lead generation are concerned, we don’t need to tap new clients now and then. An experienced telemarketing lead agency will know the auto insurance leads generation techniques by sourcing prospects from our existing database of clients using their professional training and skills.

The telemarketing staff are constantly alert about the changes in the profiles of our existing customers, and they will ensure that the calls are made to the right client at the right time. Here are the techniques employed by the telemarketing agencies to generate leads:

Birthdays

One of the best auto insurance leads generation techniques used by telemarketing agencies is keeping a tab on the birthdays of existing clients. Insurance rates get more attractive as clients age till the age of 60. Going by experience, the more experienced the driver, the better they tend to be. Irrespective of whether our client has turned 25, 35, 45 or 55 they will get better rates when their policies are due for renewal.

Location

Auto insurance rates vary according to location, going up in areas where crimes rates are higher and going down where crime rates are lower. Professionals from the telemarketing lead agency are aware of these parameters and will keep a tab on the current location of the clients.

Related Post: Tips on Getting the Best Auto Insurance Leads in Las Vegas

So, when prospects have relocated to a safer area like the suburbs and have their garage, rates will be more beneficial.

Credit History

The premiums charged by auto insurance companies depend on the credit score of clients. If the credit score of the client has improved since their last renewal, the client will enjoy better rates compared to what they got when they faced bankruptcy, collections, foreclosures or late payments in their credit reports.

Driving Record

The prospects driving record as maintained by insurance companies might have improved with time with no more traffic tickets or accidents. Once these violations are off the prospect’s driving record, they are entitled to better rates.

Life Changes

When the client gets married, graduates or buys a new home, all these have a positive impact on their insurance rates.

Depreciation

There is a direct correlation between the age of the car and insurance. Vehicles over 5-year old save around 20% on insurance premium.

Fluctuation in Rates

There are a lot of factors which have a bearing on insurance rates like the changes in population, a general rise in crime, natural calamities resulting in increases either a daily or monthly basis. Rates could significantly vary over 6 month.

Government Regulations

State Laws are constantly changing vis-a-vis insurance regulations. Whether it is a hike in rates from the state insurance department or reversal in the minimum coverage requirements for insured drivers, there are some updates in regulations. These lead to significant savings for drivers.

Steady Record

Where the prospect has been regular with payment of insurance as well as a clean driving record, there could be discounts of up to $100 compared to newly insured drivers.

Profit from Higher Auto Insurance Leads

Professional staff from lead generation companies agencies will continually keep themselves updated on any changes in our clients and help us generate more business. Insurance Telemarketer has extensive experience in lead generation for auto insurance and provides end-to-end solutions starting from creating a new prospect list or reviewing our existing list to ensure higher revenues for us.

Finding Auto Insurance Leads the Right Way

Auto insurance is easily the leader in the P&C industry – and why wouldn’t it be. In the last 8 years, the auto insurance industry has grown at a rate of 1.9 percent annually, with an increasing number of car registrations every year. For auto insurance agents, every car owner is a potential lead.

Nonetheless, the auto insurance industry is also one of the most crowded with the highest volume of insurance providers. Both individual agents and insurance agencies compete for the best auto insurance leads. So although there may be potential leads all around you, the challenge is to offer better and more competitive rates than the competition. Working your way through this maze doesn’t have to be difficult. In this article, we break down a few strategies to get you up to speed.

Auto Insurance

#1 Locate Dealers and Service Centers for Partnerships
Every new car or pre-owned car is required to have car insurance before it hits the road. Partnering with your local dealer will help you garner automatic leads with the sale of every car. Auto insurance generally expires after 1 year. People who usually get their cars serviced at the end of the year will also need insurance around that time. It is a good idea to partner with your local service centres as it will help you reach more customers.

#2 Advertise in Gas Stations
There are around 130,000 gas stations in the US. On average, a car visits a gas station once a week. So if you have some kind of presence there, you are sure to catch the attention of car owners. Creating marketing materials like posters, banners, flyers are easy to make and not that expensive. Remember to create some value for the buying customer so that they feel intrigued about the services you offer.

#3 Sponsor an Auto Show
This one is a little expensive but has the potential to draw in a large number of auto insurance leads. Auto shows are full of car lovers who not only enjoy driving but also love taking care of their cars. By demonstrating (sponsoring the show) that you love cars and are just as serious as the car owners about taking care of them will ensure that you are in the good books of car lovers.

#4 Get seen in Auto Circles
Go out there and meet people from different car clubs. Become “the” person to go to for all insurance related issues. Answer questions whenever you can, and when you do, be as honest while keeping the owner’s best interests in mind. Buyers generally like to do business with people whom they can trust. Participate in educational events that answer questions on pertinent issues related to car insurance. Is my car covered if it gets hit by a hail storm? Or, what happens if my car has an accident in a foreign country? These are questions that most car insurance buyers will not be aware of.

Look for listings on driving school programs or tailgating events. This is a great place where you can offer your services by educating people and answering any of their questions.

Auto Circles

Wrapping it Up…
The car insurance market is no doubt a tough nut to crack. However, once you overcome the initial hurdles, there is going to be no one stopping you. The points mentioned here will help you overcome those hurdles and help you achieve greater leads and satisfied customers.