Insurance businesses face numerous challenges when trying to acquire leads. Fraudulent leads, unqualified leads, and TCPA-related issues are major roadblocks for businesses trying to grow their customer base.

In this blog post, we will delve into these challenges and provide practical solutions on how insurance businesses can overcome them, to make sure they’re only contacting leads that are truly interested in what they’re offering and most likely to convert.

The challenges with insurance lead-buying

Fraudulent and unqualified leads are a constant source of frustration and can quickly eat into a business’s bottom line. These types of leads are often generated by unscrupulous companies that aim to make a quick buck. They are not interested in providing high-quality leads that convert into customers. This can be a huge problem for insurers who spend a lot of money on lead acquisition. The result is a lot of wasted resources and revenue that could have been better allocated elsewhere.

While the use of technology like CRM systems for Insurance industries has helped to mitigate these issues, aged and fake leads continue to plague the industry. In most cases, businesses will expend resources buying and trying to convert leads into customers, only to realize that they were fraudulent or unqualified. This can be a huge drain on resources and can significantly impact a business’s profitability.

Another issue that insurance businesses face is related to TCPA regulations. Under TCPA guidelines, businesses must follow strict rules when contacting prospects. Failure to comply can result in hefty fines and loss of reputation. Many businesses struggle to keep up with these regulations as they continue to evolve, leading to non-compliance and substantial fines.

So, how do businesses overcome these challenges?

How to get qualified insurance leads that are ready to convert

There are 3 things that you can do to safely buy insurance leads that are real, fresh, qualified, and likely to convert.

1. Leverage LeadConduit add-ons

There are a plethora of tools that can help you address the issues presented above. For example, here are five tools that insurance companies can use to stay clear of bad leads: The Blacklist Alliance, Anura, BriteVerify, Trestle, and Experian.

These tools provide businesses with an added layer of security when acquiring leads:

  • The Blacklist Alliance is a comprehensive blacklist database that identifies and blocks known fraudsters.
  • Anura provides businesses with real-time insights into a lead’s behavior, making it easier to identify fake leads.
  • BriteVerify provides email verification services that can help insurance businesses ensure they are contacting real email addresses.
  • Trestle provides identity verification services and can help businesses avoid fraudulent leads.
  • Experian offers credit reporting and fraud detection services that can help identify potential risks.

If you’d like to dig deeper and see how these tools can help your insurance business, check out this guide: The top 5 add-ons every insurance brand needs.

All these tools – and many more – are ready-to-use and directly available within the LeadConduit platform as add-ons that you can purchase to enhance your lead flows and get the highest lead quality possible.

LeadConduit add-ons allow you to:

  • Eliminate duplicate and fraudulent leads, securing only top-notch quality leads enter your systems.
  • Broaden your lead-buying efforts by effortlessly collaborating with new providers.
  • Streamline and enhance your lead acquisitions from every source for optimal productivity.
  • Attain valuable knowledge on lead age and consumer behavior to enhance the quality of your leads.

Explore all of our add-ons here.

2. Leverage originating domain

If you’re relying on vendor-supplied identifiers (SubIDs) to evaluate lead spend and quality, you should know that this approach is seriously flawed and will only lead to poor lead-buying decisions. Here’s a more reliable way to assess leads and make smarter lead-buying choices.

One of the most powerful data points that can help insurance businesses identify where their leads are coming from to effectively target the right audience and improve sales is the originating domain.

Identifying the originating domain – the URL of the website or landing page where the lead information was initially entered that generated the lead – can help insurance businesses better understand lead intent, irrespective of which vendor is sending the lead. This insight can be used to create targeted marketing messages that resonate with potential customers, leading to higher conversion rates.

And how do you access this data point? That’s easy: with ActiveProspect’s TrustedForm Insights.

We independently verify the website (or site identifier) where the lead originated, so that lead buyers can use it to optimize their lead acquisition campaigns. TrustedForm Insights helps you gain insights into every lead you purchase, so that you can make better-informed decisions and buy more intelligently.

If you’re interested in learning more about originating domain and how TrustedForm Insights can help you optimize your lead-buying process, take a look at this blog post: Originating domain: The key to unlocking lead intent for smarter lead-buying.

3. Obtain independent proof of consent with TrustedForm

Insurance businesses also face TCPA risks, and implementing a VoIP phone system can be instrumental in ensuring compliance. The Telephone Consumer Protection Act (TCPA) is a federal law that regulates telemarketing calls and text messages. Failure to comply with TCPA regulations can result in costly lawsuits and settlements. To avoid these issues, insurance businesses must ensure that they are following TCPA regulations. This includes obtaining consent before making telemarketing calls or sending text messages.

One way you can help mitigate the risk of incurring TCPA litigation is by making sure you only acquire leads whose consent has been certified and for which you have proof.

Issue TrustedForm certificates for every lead you generate

TrustedForm Certify helps lead sellers prove the authenticity of each lead they generate. This tool allows them to easily document when and where consent was obtained, providing solid evidence for every lead they sell.

They simply have to add a javascript snippet to their web forms and this will capture every lead event, from mouse movements to clicks, and key presses. All the data will be securely stored and easily accessible.

Watch our short video to learn how to implement TrustedForm Certify and share this with your lead providers to have them start generating certified leads today. The Web SDK is available to everyone for free when you sign up for an ActiveProspect account.

Store TrustedForm certificates for every lead you purchase

Then, you can use TrustedForm Retain to access your certificates when your leads give express written consent to be contacted, so that you will have documentation to comply with the TCPA.

By retaining your TrustedForm certificates, ActiveProspect will preserve them for you for 5 years, so that you’ll have them ready and available in case you need them to mitigate a potential TCPA litigation.

TrustedForm certificates that aren’t retained are automatically deleted 90 days after they were created.

Don’t miss out on this opportunity! Start leveraging the benefits of TrustedForm Retain today for unparalleled lead acquisition success.

If you’d like to learn more about the TCPA and what you can do to guarantee compliance, check out the articles below:

Why insurance companies like yours trust ActiveProspect

With growing competition in the insurance industry, it’s crucial for providers to stay one step ahead. That’s where the ActiveProspect platform comes in, empowering you to do just that and more!

ActiveProspect’s comprehensive lead optimization and compliance platform helps insurance businesses:

  • Hit their Cost Per Acquisition targets. By leveraging lead enhancements and workflow rules, they ensure they’re only accepting the leads with the highest conversion potential.
  • Improve customer retention and lifetime value. By discovering valuable consumer insights, they can easily pinpoint when current policyholders are ready for more coverage, ensuring they never miss an opportunity.
  • Mitigate TCPA risks. By boosting their compliance efforts and protecting themselves with documented proof of consent, they gain newfound confidence in their lead acquisition strategies.

Final thoughts

In conclusion, while the challenges of acquiring quality leads may seem daunting, insurance businesses have several options at their disposal. They can combat fraudulent lead acquisition and ensure compliance with TCPA regulations through a multifaceted approach that leverages cutting-edge tools and techniques. 

By leveraging tools like LeadConduit and its add-ons, analyzing data like originating domain, and implementing tools like TrustedForm, insurance businesses can successfully navigate the hurdles of lead acquisition, streamline their marketing endeavors, guarantee compliance, and build successful long-term customer relationships.

If you’d like to see how ActiveProspect works, schedule a free demo now! We will show you how our platform can help you acquire new customers at scale through consent-based marketing.