Changes coming to TCPA Probably end of aged leads

[walthamny]

Well it looks like there is a new rule about to be published and industry will be given 6 months to comply. If a lead is generated online, usually lead vendors sell this to multiple agents, whether they are exclusive or not. Now Feds are requiring a separate consent from each vendor buying the lead, which will in practice end the current way of checking the box and ask for someone to call the consumer. I cant imagine a consumer agreeing one by one to each agent that can call them to sell life insurance. Lead vendors will probably loose a lot of business. On the hand, if you are self generating leads under your own brand name, it really wont matter.

There are several news clips on it Here is one of them. Game changer for internet leads

https://tcpaworld.com/2023/11/22/it...e-given-6-months-to-comply-and-i-told-you-so/

 

[servenvolley]

This is a game changer. It looks like most lead vendors will either cheat (which I doubt can be done for very long before getting busted) or go out of business. The ones that make it will be helping agents by customizing their leads with the agent's information and charging more for the service. Facebook leads will get very expensive.

 

[walthamny]

I am not sure on if the facebook leads will become more expensive. This will definetely reduce the number of agents starting in FE world as they can not afford exclusive leads. If the number of agents entering final expense is reduced you may have higher closing ratios with facebook leads. Lets see how this story develops.

 

[Newby]

I am not sure on if the facebook leads will become more expensive. This will definetely reduce the number of agents starting in FE world as they can not afford exclusive leads. If the number of agents entering final expense is reduced you may have higher closing ratios with facebook leads. Lets see how this story develops.

Every agent that I've ever taken on has to be able to afford exclusive leads for FE or they aren't ready to be in the business. It has never been a problem. You just have to be ready to say NO to people who aren't ready for the biz.

 

[Tahoe Ray]

Additional conversation about this:

https://insurance-forums.com/community/threads/the-end-of-the-lead-generation-companies.112103/

 

[walthamny]

Newby, You and few other IMO's that post here dont hire off the street. However, IMO's that hire by the masses and sell low quality shared leads to see who sticks will have a hard time with this change. My joke has always been these IMO's have only 2 criteria. Do you have any felony followed by have you taken a shower in the last 72 hours. SO if this regulation passes and our next president Trump does not reverse it, it will likely be the end of the junk IMO's. They cant afford to give exclusive leads to people fresh out of jail.

 

[Newby]

Newby, You and few other IMO's that post here dont hire off the street. However, IMO's that hire by the masses and sell low quality shared leads to see who sticks will have a hard time with this change. My joke has always been these IMO's have only 2 criteria. Do you have any felony followed by have you taken a shower in the last 72 hours. SO if this regulation passes and our next president Trump does not reverse it, it will likely be the end of the junk IMO's. They cant afford to give exclusive leads to people fresh out of jail.

Yes that would be a nice thing to see happen. Fingers crossed but not really expecting it to come true.

 

[jdeasy]

This won't change anything with the call centers that make illegal calls all day now. Why would more laws and rules to break faze them?

The companies will slap down the feds if they interfere too much with their call centers. The companies, especially the MA companies, absolutely love the call centers. They could put them out of business in one day if they wanted to.

The best way to get crossways with the companies is to interfere with their beloved call centers.

Now, for the independent agent working as a sole proprietor, these rules will be crippling. And that is also just fine with the companies.

 

[rousemark]

Nothing will change.. even for the indue agent. The leas companies will continue to sell leads claiming they are compliant even though they are not. Uninformed agents will continue to order them. Robo calls have been illegal for some time but offshore lead companies still selll them. Agents still buy them and some of those agents will even argue that they are lefal.

 

[Tahoe Ray]

Nothing will change.. even for the indue agent. The leas companies will continue to sell leads claiming they are compliant even though they are not. Uninformed agents will continue to order them. Robo calls have been illegal for some time but offshore lead companies still selll them. Agents still buy them and some of those agents will even argue that they are lefal.

I get what you're saying but things will 100% change.

This isn't just for insurance leads (but it certainly includes them). Massive companies that do affiliate/referral marketing will get hit. Sites like bankrate.com and nerdwallet will get smoked on this ruling.

It's a win for the little guy. Those of us who market online for our specific agencies won't be affected but it will definitely hurt those who buy leads online. Prices will go up.