3 Steps to Convert More Online Insurance Leads

3 Ways to Convert More Online Insurance Leads

Online Insurance Lead Capture & Conversion

No matter what we are purchasing these days, odds are the research for the purchase started online. For goods, we research what brand and style we want, and then we click “add to cart” or we head to the physical store knowing what we’re looking for. 

For insurance, the research for agencies and coverage types often starts online as well, but consumers still prefer to work with an agent or advisor when it comes to purchasing. This is especially true for coverage in the life & health industry.

Insurance Journal points out: “The future of insurance is not only digital. It is still hard for consumers to navigate their insurance policies. Consumers are looking for that expertise — plus digital. It should be a symbiotic relationship. When done right, the experience is seamless no matter if the customer is engaging online or with a person.”

Thus, a website with the ability to capture your visitors’ information is crucial to gathering new leads.

To capture these online leads, you need to have at least one form on your website, whether it’s a contact form, “get a quote” form, forms for educational content you provide, or all of these.

Setting up these forms for success is an entire discussion in itself; in this blog, we’re focusing on covering the leads you already brought in. To learn more about optimizing your lead forms, check out this blog: 4 Quick Tips for Optimizing Your Lead Forms for Conversion.

Key take-away: use a lead form on your website to capture visitors so you can provide a seamless experience from website to in-person meeting.

However, no matter how you capture leads online, successfully converting them to clients is ultimately based on your follow-up process.

3 Steps to Convert More Online Insurance Leads

There are 3 steps to convert more online insurance leads::

Respond to online leads quickly
Develop a measurable process for responding
Nurture your leads until they're ready to purchase

1. Respond to Online Leads Quickly

There are countless studies that have looked at how quickly you need to follow up with leads to increase your chances of conversion, and many of those point to somewhere between 5-10 minutes. Your chances of qualifying leads goes down 400% if it’s longer than that.

Agents and advisors know they need to respond instantly, but leads still fall through the cracks. There are a couple reasons this can happen:

  • Agents being alerted of new leads happens slower than 5-10 minutes

  • New leads aren’t receiving confirmation of form submission

Let’s break these down.

New leads aren’t receiving confirmation of form submission

Today, whenever you fill out a form on a website, you expect to receive an email confirmation. This assures you that they received your information and got your message.

Many agencies use automation within AgencyBloc to send an instant email to the lead letting them know your agency has received their info and will be in touch shortly. In order for this to happen, your lead form must funnel those leads into your agency management system in real-time.

AgencyBloc has built-in lead form capabilities to help you create your form, embed it on your website, and funnel leads into the AMS. From there, you can use Automated Workflow to set up alerts for agents and ensure the new lead receives a confirmation email.

Agents being alerted of new leads happens slower than 5-10 minutes

When bringing leads into your CRM is manual, it’s inevitable that it won’t always happen in a timely manner. The alert to the assigned agent is then also slowed down. 

Just like the instant email to the lead, an instant alert to agents is necessary for immediate follow-up. When your lead form is tied to your AMS, the agent receives an alert via an activity on their dashboard and an email, if you choose.

An AMS like AgencyBloc helps you with the follow-up process internally and externally. Internally, an AMS keeps you accountable through the use of activities and/or automated internal emails. Externally, it helps by sending automated emails to jumpstart the follow-up process for new leads.

Key take-away: agents need access to the right tools to quickly follow up, and agencies should automate some of the process for their agents.

2. Develop a Measurable Process for Responding

As we’ve discussed, you need to have a process in place for collecting and immediately following up with online leads. Whatever your process, you need a way to measure it so you can make more informed decisions to continuously improve this process. 

In order to measure the performance of your agents and profitability of leads, you must be able to track your lead sources to pull reports or view real-time data analytics on them.

Below is a screenshot of AgencyBloc where you can set the lead information for leads. Using this, reporting on lead sources, agents, lead dates, and more becomes easy.

Lead Source Tracking

AgencyBloc Lead Tracking

Seeing lead sources across your agency is also important for understanding performance. The following real-time graph shows various lead sources for an agency’s group clients and their current policies. From this, you can quickly see which lead sources have been beneficial for your agency.

AgencyBloc AMS Lead Source Analyzation

AgencyBloc Groups & Policies by Lead Source

To sum up:

  • Your follow-up process needs to be measurable so that you can continuously improve that process based on data

  • An AMS like AgencyBloc helps you track lead sources and allows you to analyze your lead activity

  • AgencyBloc can automate some of the lead follow-up process both internally for your team and externally to your prospects

Key take-away: using an agency management system will help you automate and track your follow-up process.

3. Nurture Your Leads All the Way to Purchase

Online leads are not always ready to make a purchase right away. Even though you’ve placed a lead form on your website to collect the lead, instantly distributed it to an agent, and followed up within 5 minutes, that lead still probably isn’t going to sign a policy contract that day. 

Online leads fall into your funnel at all different levels. Some are ready to purchase and others might just be interested in the content you’re offering. A lead nurturing program allows you to build a relationship with online leads so when the timing is right, the lead turns to you for your products or services.

Drip and automated email campaigns, combined with the immediate and personal follow-up process we already discussed, are an excellent process for converting online insurance leads.

Drip email campaigns are mass emails that are set up to send to a specific list at a specific time, and automated emails are triggered by an event or behavior.

Many agencies use drip campaigns or mass emails to send “newsletter-like” content to their prospect and client lists. However, it’s not recommended to send the same content to everyone on your list. Make an effort to segment your list based on what they’re interested in and where they are in your funnel; then, send them content that will be relevant to them.

For instance, agencies can segment prospects based on what type of coverage or content they’ve been interested in and send relevant content to those groups.

Agencies also utilize automated email to further personalize communication. Automated emails are triggered when something happens, like a status change from prospect to client where you might send onboarding messaging to get that process started. Automated emails are a great way to ensure nothing falls through the cracks. 

When it comes to lead nurturing, continuous communication is key. It’s your job as an advisor to provide the right information at the right time, and that’s where automating communication and having an AMS to document specific lead details can be extremely helpful. 

Most importantly, throughout the lead acquisition and conversion process, never assume a lead is going to be an easy win. You should fully expect to put nurturing efforts into place.

To sum up:

  • Online leads will fall into your funnel at different stages
  • A lead nurturing program allows you to build meaningful relationships with these contacts
  • Drip and automated email campaigns within a full, personalized lead nurturing program are the best way to convert online leads

Key take-away: an agency management system with built-in email marketing capabilities is a powerful way to track and nurture leads.

[eBook] Automation for Life & Health Insurance Agencies: Using automated workflow to create efficiency & consistency

Learn how to use automation within your lead follow-up process and more in this eBook. This eBook covers what automation is, how it can be applied to insurance agencies, what opportunities agencies have to use automated workflows, and how they can monitor it.

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Kelsey Rosauer

By Kelsey Rosauer on June 11, 2020 in Automation

Kelsey is the Brand Manager at AgencyBloc. She plans and creates educational resources to help insurance agencies organize, automate & grow their business. Favorite quote: "I am convinced that life is 10% what happens to me and 90% how I react to it." —Charles R. Swindoll  More articles


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