Speed to quote: working new insurance leads the same day
Online leads go cold fast. The agency that calls first gets the conversation.
Contact new insurance leads within the hour. A study of about 1.25 million leads, reported in Harvard Business Review, found firms that tried to contact leads within an hour were nearly seven times as likely to qualify them as firms that waited even one hour longer. That means one owner for incoming leads, a call script, and a licensed person free to quote.
What the research says
A 2011 Harvard Business Review article, "The Short Life of Online Sales Leads," reported two findings that still hold:
- In an audit of 2,241 U.S. companies, only about 37% responded to a web lead within an hour, and 23% never responded at all.
- In a study of about 1.25 million leads, firms that tried to contact a lead within an hour were nearly seven times as likely to qualify it as firms that waited one more hour.
Insurance leads behave the same way. The person who filled in the form is often filling in others.
The setup
- One place for leads. Website forms, calls and purchased leads all land in one queue.
- One owner per day. Someone is responsible for every lead that arrives.
- A licensed person free to quote. The call becomes a quote within minutes.
- A follow-up sequence. Voicemail and text the same day, then calls and emails over the next week.
- Tracking. Time to first contact and quotes per lead, every week.
The call
- Thank them and confirm what they asked for.
- Ask the questions you need to quote.
- Quote now if you can, or say exactly when.
- Explain the options and recommend one.
- Book the next step before you hang up.
Where the time goes
Most agencies don't lack leads. They lack a licensed person free at the moment a lead arrives. Producers are in meetings and CSRs are on service calls, so the lead waits until tomorrow.
Where Humai fits
Humai's U.S.-licensed agents can call and quote your new leads in your AMS, under your name, during the hours you need. Add more help for campaigns and busy seasons, and less when it's quiet.
Questions agency owners ask
How fast should an insurance agency respond to a lead?
Within the hour, and faster is better. Research reported in Harvard Business Review found response within an hour made qualifying the lead far more likely.
Who should call new leads?
A licensed person, since the call usually turns into a quote and coverage questions. An unlicensed person can set the appointment but can't quote.
What should happen if the lead doesn't answer?
A short follow-up sequence: a voicemail and text the same day, then calls and emails over the next several days.
How can a small agency respond faster?
Route all leads to one place, give one person ownership each day, and add licensed quoting help during busy hours or campaigns.
Is it worth buying leads if we can't call quickly?
Probably not. Slow response wastes leads you paid for. Fix speed first, then spend more on leads.
Sources
- Harvard Business Review: The Short Life of Online Sales Leads (2011)
- Florida Administrative Code 69B-222.060, unlawful activities by unlicensed insurance agency personnel
Licensing rules differ by state. This article is general information, not legal advice. Check with your state's department of insurance.