X-dates for Homeowners leads
- Thread starter lisar1208
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I send them a quote based on the public record data for their home, ask them to give me a call to confirm the information, and write the policy. Works amazingly well.
Today's consumer is a bit different, they want a compelling reason to even talk to you. A quote that saves them money may be a compelling reason (if it saves them real money and is believable).
Dan
Today's consumer is a bit different, they want a compelling reason to even talk to you. A quote that saves them money may be a compelling reason (if it saves them real money and is believable).
Dan
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Hmmm, in my area, sales price has nothing to do with reconstruction cost value. I use public record data (square footage, number of stories, garage type, number of baths, etc) and develop a reconstruction cost based on that. Not bad, but not always accurate either.
I try to mail 6-7 weeks prior to renewal. It's a guess.
I paid for some automated tools to make this happen. You can do it on your own, but it is time consuming. With automation, I can print a quote based on the public record data about 1 a minute. I send about 400-500 a week.
Some weeks it is very effective, some weeks, not so much. If you look at the numbers weekly, you'll kill yourself for spending the money. In the longrun, I get about 1.0% return, and close almost 100% of those.
My warning is that it took me about 3 months to get the process in place. What sounded simple to start with is more complex than it should be. Then you start finding little issues, like homes with over 5000 sq feet crash my automated quoter, or homes that were built in 2006 cause a glitch, etc.
I'm still having a love/hate relationship with the gal in the bulkmail room at the postoffice. I'll eventually get this all sorted out.
Dan
I try to mail 6-7 weeks prior to renewal. It's a guess.
I paid for some automated tools to make this happen. You can do it on your own, but it is time consuming. With automation, I can print a quote based on the public record data about 1 a minute. I send about 400-500 a week.
Some weeks it is very effective, some weeks, not so much. If you look at the numbers weekly, you'll kill yourself for spending the money. In the longrun, I get about 1.0% return, and close almost 100% of those.
My warning is that it took me about 3 months to get the process in place. What sounded simple to start with is more complex than it should be. Then you start finding little issues, like homes with over 5000 sq feet crash my automated quoter, or homes that were built in 2006 cause a glitch, etc.
I'm still having a love/hate relationship with the gal in the bulkmail room at the postoffice. I'll eventually get this all sorted out.
Dan
- 624
So, is it paying for itself?
Thanks in advance
Thanks in advance
DJS,
In a few counties around my office I can get most of the needed info online. So are you basically sending quotes without the insurance score factored in? Could you tell us a little bit more about your system.
I purchased an x-date package from cole directories and I was very disappointed. Does anybody have an x-date program that they would recommend?
Thanks,
Eric
In a few counties around my office I can get most of the needed info online. So are you basically sending quotes without the insurance score factored in? Could you tell us a little bit more about your system.
I purchased an x-date package from cole directories and I was very disappointed. Does anybody have an x-date program that they would recommend?
Thanks,
Eric
I have no idea what the insurance score is, so yes, I don't factor this in. I assume that is the FARA score, which we don't use in California.
There are many factors that I have to use 'generic' values for, this is covered in my cover letter, letting them know that I only accessed public record information for the quote. Because of this, the quote may change.
I've been doing this long enough, I use fairly decent 'generic' information. Many times they are over 55, and get extra discounts, so they get a better deal.
My goal with the program is breakeven and then cross sell. I do it to grow my book more than to make money directly, but even in that case, it has to be a breakeven proposition.
Cole directories doesn't have enough info in it, though the price is right. I use Parcel Quest (the CD's, not online), which gives me pretty good info. If I had to do it over again (or next year, when I do it again), I'll pay the premium for the Haines Criss-Cross online directory. This includes some phone numbers, which I don't have. I would call to followup to get a better response ratio.
To make this work, you need to send a minimum of 250 a week (500 is better), you need to send it via bulk mail (use the bulk mail stamps though, most people think its a regular stamp, and you need to do it consistently (something I fail at from time to time). Even doing 250 a week requires some sort of automation, or your won't do it consistently.
I'd do it for autos as well, but I don't know of a way to figure out what cars a person owns. I'm not sure this would have the same response either.
Dan
There are many factors that I have to use 'generic' values for, this is covered in my cover letter, letting them know that I only accessed public record information for the quote. Because of this, the quote may change.
I've been doing this long enough, I use fairly decent 'generic' information. Many times they are over 55, and get extra discounts, so they get a better deal.
My goal with the program is breakeven and then cross sell. I do it to grow my book more than to make money directly, but even in that case, it has to be a breakeven proposition.
Cole directories doesn't have enough info in it, though the price is right. I use Parcel Quest (the CD's, not online), which gives me pretty good info. If I had to do it over again (or next year, when I do it again), I'll pay the premium for the Haines Criss-Cross online directory. This includes some phone numbers, which I don't have. I would call to followup to get a better response ratio.
To make this work, you need to send a minimum of 250 a week (500 is better), you need to send it via bulk mail (use the bulk mail stamps though, most people think its a regular stamp, and you need to do it consistently (something I fail at from time to time). Even doing 250 a week requires some sort of automation, or your won't do it consistently.
I'd do it for autos as well, but I don't know of a way to figure out what cars a person owns. I'm not sure this would have the same response either.
Dan
Landersinsuranc
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djs, did you hire a marketing firm to put together the program that made automated quotes? Or how did you do this. I have been doing it by hand but it takes to long.
G
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awesome, brought back a 3 year old thread!
Love it!
Love it!
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