I want to know if selling insurance over google PPC profitable. Has anyone done it , can you share your experience.
Total Comments: 11
Posted: Tue Aug 31, 2010 12:39 pm Post Subject:
I guess a large number of sales processes have been successful over the internet. The only thing that you need to do is to identify the needs of your online prospects. If you're into lead generation, make sure you judge the quality of leads as per their financial strength too.
Posted: Tue Aug 31, 2010 11:44 pm Post Subject:
Understand that if you try to sell insurance over the Internet to persons who reside all across America, you will have to be licensed as an agent in all states.
There are specific disclosures that must appear in your advertisements, and if you are not marketing to person in certain states, then you have to prominently state that upfront in your ad.
Aside from that, profits from insurance sales over the Internet are perhaps less exciting than those derived from direct mail solicitations.
Posted: Tue Sep 07, 2010 02:40 am Post Subject:
There are specific disclosures that must appear in your advertisements, and if you are not marketing to person in certain states, then you have to prominently state that upfront in your ad.
Or more like casually mention somewhere between the last important statement and the bottom of the page in tiny type.
There are several people who are making money selling life insurance over the internet. We have a regular contributor here who is part of an operation that sells a lot of business over the internet. It's a business model that requires a lot more overhead than you might think, but if done correctly can certainly be profitable.
Posted: Tue Sep 07, 2010 02:43 am Post Subject:
An afterthought though. You might find that a lot of people who see a higher value in life insurance happen to still like the idea of sitting down with an agent and doing business face-to-face. LIMRA released information recently that stated the majority of baby boomers still prefer the idea of purchasing life insurance and financial products face-to-face.
The younger generation might be a potential market, but there are fewer of them and they tend to be much less likely to want the product.
Posted: Wed Sep 08, 2010 12:32 pm Post Subject:
my view a large number of sales processes have been successful by the internet.many insurance company sell your insurance by internet process and successes.
Posted: Thu Sep 09, 2010 12:41 pm Post Subject:
my view a large number of sales processes have been successful by the internet.many insurance company sell your insurance by internet process and successes.
Yes, sales processes are successful over the internet since it's easier to approach more prospects online. But, the long term success of a seller depends on his ability to deliver exactly what his prospective customer needs. So, it's better we study the inputs and identify the needs.
Posted: Thu Sep 09, 2010 04:13 pm Post Subject:
sales processes are successful over the internet
But as BNTRS pointed out, when it comes to life insurance, it's just too personal a process/product, and most people feel more comfortable looking across the table at the face of another human being rather than a computer screen.
Life insurance sales by personal contact currently is, has been, and probably always will be, more successful and more profitable (for insureds, companies, and agents) when done in person.
Auto and homeowner's is a slightly different matter. Not as personal a subject -- if people know what their true coverage needs are, they simply shop 'til they drop or find the lowest rate. No allegiance to a company or agent.
Posted: Sun Sep 12, 2010 06:07 pm Post Subject:
Auto and homeowner's is a slightly different matter. Not as personal a subject -- if people know what their true coverage needs are, they simply shop 'til they drop or find the lowest rate. No allegiance to a company or agent.
Maybe Max, but I'm pretty sure the P&C guys were claiming the same thing/still are at the idea of purchashing car or auto insurance over the internet.
Classic dicussion in labor economics concerning the potential for technology to replace workers in certain job markets. I think insurance agents could be on the chopping block if not careful.
Posted: Mon Sep 13, 2010 01:51 pm Post Subject:
I'm pretty sure the P&C guys were claiming the same thing/still are at the idea of purchashing car or auto insurance over the internet.
True. But as we see in the posts, many people who buy the personal lines coverages, whether they have an agent or a website address, have no idea what they're getting and what it does for them.
In life insurance, most people understand the basics -- you live, you pay, you die, we pay. But they are less comfortable making the decision to purchase life insurance via the Internet, as we both agree, than in person.
Knowledge changes a person's ability to do things for himself. That's part of what we're trying to do here. In the meantime, most of us are still promoting using a local agent to assist in determining proper coverage amounts and types.
Insurance will always be complex. It doesn't have to be confusing. I would hope that it does not become a do-it-yourself enterprise. All those plumbing parts they sell at Lowe's and Home Depot haven't put all the plumbers out of business . . . yet. Those guys still get calls when the DIY plumber really screws things up and there's water all over the place!
Unfortunately, we cannot help the person who did not purchase the insurance, or did not purchase the proper coverages, after the loss occurs.
Posted: Fri Jan 21, 2011 02:16 pm Post Subject:
As an agent, ofcourse I'm 100% for using an agent. We come across many policy set up wrong from the .com and 800# (even with our own companies). ie new car w/ no comp or collision, basic limits of liability, gaps in coverage, etc. Utilize those online or 800# conveniences for after hours payments, or simple questions. I dont support buying insurance online unless its directly through the agent, there's no difference in price and the agent in your area gets no commission for his time and effort to service. My biggest competitor is my own company. Ive seen other agents even turn away people and direct them to call the #800 number w/ their questions or concerns as thats really thier agent. Most agents dont mind taking a payment for another agent or helping w/ minor changes, as we all try to do what is right by the customer. But when it comes to your own company competing against you, it's a different ball game. A line is sometimes drawn; unfortunate for the online buyer.
Posted: Tue Aug 31, 2010 12:39 pm Post Subject:
I guess a large number of sales processes have been successful over the internet. The only thing that you need to do is to identify the needs of your online prospects. If you're into lead generation, make sure you judge the quality of leads as per their financial strength too.
Posted: Tue Aug 31, 2010 11:44 pm Post Subject:
Understand that if you try to sell insurance over the Internet to persons who reside all across America, you will have to be licensed as an agent in all states.
There are specific disclosures that must appear in your advertisements, and if you are not marketing to person in certain states, then you have to prominently state that upfront in your ad.
Aside from that, profits from insurance sales over the Internet are perhaps less exciting than those derived from direct mail solicitations.
Posted: Tue Sep 07, 2010 02:40 am Post Subject:
There are specific disclosures that must appear in your advertisements, and if you are not marketing to person in certain states, then you have to prominently state that upfront in your ad.
Or more like casually mention somewhere between the last important statement and the bottom of the page in tiny type.
There are several people who are making money selling life insurance over the internet. We have a regular contributor here who is part of an operation that sells a lot of business over the internet. It's a business model that requires a lot more overhead than you might think, but if done correctly can certainly be profitable.
Posted: Tue Sep 07, 2010 02:43 am Post Subject:
An afterthought though. You might find that a lot of people who see a higher value in life insurance happen to still like the idea of sitting down with an agent and doing business face-to-face. LIMRA released information recently that stated the majority of baby boomers still prefer the idea of purchasing life insurance and financial products face-to-face.
The younger generation might be a potential market, but there are fewer of them and they tend to be much less likely to want the product.
Posted: Wed Sep 08, 2010 12:32 pm Post Subject:
my view a large number of sales processes have been successful by the internet.many insurance company sell your insurance by internet process and successes.
Posted: Thu Sep 09, 2010 12:41 pm Post Subject:
my view a large number of sales processes have been successful by the internet.many insurance company sell your insurance by internet process and successes.
Yes, sales processes are successful over the internet since it's easier to approach more prospects online. But, the long term success of a seller depends on his ability to deliver exactly what his prospective customer needs. So, it's better we study the inputs and identify the needs.
Posted: Thu Sep 09, 2010 04:13 pm Post Subject:
sales processes are successful over the internet
But as BNTRS pointed out, when it comes to life insurance, it's just too personal a process/product, and most people feel more comfortable looking across the table at the face of another human being rather than a computer screen.
Life insurance sales by personal contact currently is, has been, and probably always will be, more successful and more profitable (for insureds, companies, and agents) when done in person.
Auto and homeowner's is a slightly different matter. Not as personal a subject -- if people know what their true coverage needs are, they simply shop 'til they drop or find the lowest rate. No allegiance to a company or agent.
Posted: Sun Sep 12, 2010 06:07 pm Post Subject:
Auto and homeowner's is a slightly different matter. Not as personal a subject -- if people know what their true coverage needs are, they simply shop 'til they drop or find the lowest rate. No allegiance to a company or agent.
Maybe Max, but I'm pretty sure the P&C guys were claiming the same thing/still are at the idea of purchashing car or auto insurance over the internet.
Classic dicussion in labor economics concerning the potential for technology to replace workers in certain job markets. I think insurance agents could be on the chopping block if not careful.
Posted: Mon Sep 13, 2010 01:51 pm Post Subject:
I'm pretty sure the P&C guys were claiming the same thing/still are at the idea of purchashing car or auto insurance over the internet.
True. But as we see in the posts, many people who buy the personal lines coverages, whether they have an agent or a website address, have no idea what they're getting and what it does for them.
In life insurance, most people understand the basics -- you live, you pay, you die, we pay. But they are less comfortable making the decision to purchase life insurance via the Internet, as we both agree, than in person.
Knowledge changes a person's ability to do things for himself. That's part of what we're trying to do here. In the meantime, most of us are still promoting using a local agent to assist in determining proper coverage amounts and types.
Insurance will always be complex. It doesn't have to be confusing. I would hope that it does not become a do-it-yourself enterprise. All those plumbing parts they sell at Lowe's and Home Depot haven't put all the plumbers out of business . . . yet. Those guys still get calls when the DIY plumber really screws things up and there's water all over the place!
Unfortunately, we cannot help the person who did not purchase the insurance, or did not purchase the proper coverages, after the loss occurs.
Posted: Fri Jan 21, 2011 02:16 pm Post Subject:
As an agent, ofcourse I'm 100% for using an agent. We come across many policy set up wrong from the .com and 800# (even with our own companies). ie new car w/ no comp or collision, basic limits of liability, gaps in coverage, etc. Utilize those online or 800# conveniences for after hours payments, or simple questions. I dont support buying insurance online unless its directly through the agent, there's no difference in price and the agent in your area gets no commission for his time and effort to service. My biggest competitor is my own company. Ive seen other agents even turn away people and direct them to call the #800 number w/ their questions or concerns as thats really thier agent. Most agents dont mind taking a payment for another agent or helping w/ minor changes, as we all try to do what is right by the customer. But when it comes to your own company competing against you, it's a different ball game. A line is sometimes drawn; unfortunate for the online buyer.
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