P&C Leads? Help!

[insurancegal]

Thanks for all your help and advice! I will look into some of these options!

 

[Agent Jeff]

Thanks for all your help and advice! I will look into some of these options!

Hey, lets not stop the thread. There might be some more good ideas coming.

 

[CHUMPS FROM OXFORD]

X-dating still works. As you slowly build your inventory, a higher percentage of your contacts are people you have spoken to, quoted, or just missed out on their renewal. It provides a steady stream of activity and you can easily track your activity, as well as predict your activity in the near-term.

 

[Agent Jeff]

X-dating still works. As you slowly build your inventory, a higher percentage of your contacts are people you have spoken to, quoted, or just missed out on their renewal. It provides a steady stream of activity and you can easily track your activity, as well as predict your activity in the near-term.

Thanks Oxford,
About what would you consider spending per name/number for x-dating purposes for the original name/number call list? Would Dan's Choicepoint source sound about right ballpark for this to you (as you can see above he pays ~40 cents per name/number for DNC scrubbed auto/homeowner insurance semi-targeted names)?

Also what hours work for the calls? Perhaps 6:30PM-8:30PM? Also does anyone know a way to get a list of people who are home (and preferably answering the phones) during normal business hours?

 

[djs]

Another great post.

You've put a lot of effort into telemarketing though it sounds you have met frustration due to your local market conditions. Has a worthwhile portion of your book been built through telemarketing? Has it been worth the time and expense? Have you tried x-dating?

Worthwhile portion - no.
Worth time and expense - no (hence the frustration)
Tried x-dating - hmm, somewhat. This usually involves doing the telemarketing myself. I choose not to do this. I have tried this with internet leads, where x-dates are at least reasonably known. Jury is still out on the effectiveness.

Ongoing contact with a prospect is proven to work, though can be a bit expensive. Many agents drive this around x-dates, but the x-date isn't always the cause of the change. Heck, when I do x-date, people give me their payment date, not policy renewal date, I've found many people who are on monthly pay don't have a clue they have a policy period as well.

Dan

P.S. I do believe telemarketing, if done by the right person, can be very effective. I also believe it is very market sensitive, and some markets are not as good as others. For me, it's a matter of finding the right market and the right telemarketer, along with the right approach.

 

[CHUMPS FROM OXFORD]

Agent Jeff...It's been a while since I x-dated, but I never went past 5:00. I'm not sure what a good price to pay per name is since I never used a list.

The good thing is that if the average person pays their bill every three months, (this means they are holding the bill in their hand approximately 75 days out of the year)...there is about a 1 in 5 chance your prospect has bill in hand. Yes, some may have just paid it and some just don't have a clue.

 

[Agent Jeff]

Thanks "djs" and "chumps from oxford". It really helps to hear from others who have obviously had a lot of experience with marketing P&C products and have had to spend their own money on it.

Does anyone have any prospecting tips for business owners and commercial policies?

 

[MJ1]

I just found this site this week and I think it's great. I have already started using some of the recommendations for lead generating. I dropped off my cards at all the used car lots in my area today. I also want to contribute some things I have been doing to try to fill the pipeline.

Board Member on a couple of different associations - not much from it yet but working on it

Personal referrals- works but slow to get

Horse Market- This is a untapped market, I find that the average policy premium is about $1000.00 more and I get the opportunity to up sell other coverages. I get good referrals from this market. I have also been invited to speak at horse club meetings. To access this market I set up a table at different horse events in my area, I am also going to start setting up a table at different feed stores on Saturdays. I am also going to try to start a direct mail campaign.

Attend different events in my area ie- Home&Garden shows, pumpkin festivals, and any other event I can get invited to.- some leads, the ones I can set an appt. with I close.

I would like to hear from anybody else that might have some input.

 

[Premium financer]

when I was targeting PC commercial lines, believe it or not, I had a lot of success cold calling out of the yellowbook. I would target local companies, so I could drop by and get in front of the principals of the company.

Not to get off topic, but I am fairly new with a large Premium Finance company in Miami and I was interested in finding out what PC agents are looking for in their premium finance company.

 

[MJ1]

When I dropped off my cards at car lots I wrote on my card that I work nights and weekends, this seemed to get some very positive reactions, if I didn't write on my cards or mention it, the sales managers put my card on the shelf with other business cards, but when I did do it they would put it in their top desk drawer. So we will see this produces in leads.