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Insurance leads in Italy, Germany, and France

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FriendlyVillain

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Hey guys,

Do you have any suggestions on how to obtain information on:
  1. The average commission that insurance brokers make on a sale in these countries?
  2. What leads are call centers buying?
  3. Or what type of leads do lead generation companies sell the most?
I've tried using LinkedIn to reach out to key people working for insurance brokers and call centers to obtain the above info, but so far I haven't got any success. My approach is to tell them that I'm doing my research and ask them what leads are they most interested in buying (that's when I contact the brokers).

I've also joined several Facebook groups and acted as if I was trying to buy leads in these countries. Am I approaching this wrong?

Any ideas?
 

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Last edited:

Kevin88660

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Singapore
Hey guys,

Do you have any suggestions on how to obtain information on:
  1. The average commission that insurance brokers make on a sale in these countries?
  2. What leads are call centers buying?
  3. Or what type of leads do lead generation companies sell the most?
I've tried using LinkedIn to reach out to key people working for insurance brokers and call centers to obtain the above info, but so far I haven't got any success. My approach is to tell them that I'm doing my research and ask them what leads are they most interested in buying (that's when I contact the brokers).

I've also joined several Facebook groups and acted as if I was trying to buy leads in these countries. Am I approaching this wrong?

Any ideas?
Ah. You are in the right place. I am an advisor in the business.

Due to regulations on customer data protection, direct selling of “phone book leads” with additional info like job scope or income is basically banned.

The answer is they do not know what leads they want to buy unless you can show them your leads are of quality-that people who have interest and buying power to be closed.

Big players like Insurance companies have a market department to generate inbound sales leads. They also have existing clients whose agents have quit, and that will serve as leads too. These are the best leads that are given to the individual agents/brokers.

Call centers for insurance companies serve to receive inbound calls/leads.

Call centers serve companies charge brokers a service fee and help them to do cold calls to set for appointments. It is charged based on hours and do not guarantee anything.

Anyone who is interested in insurance in their countries can just google and it will lead them to the biggest insurance companies’ online presence. All they need to them is to make a call or text an advisor online on duty (something like a old school messenger). I will be surprised if you can intercept this and charge the advisor for lead generation. :)
 

Kevin88660

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I am not operating in the countries you mentioned. But It is quite an old school standard business and doesnt differ much among developed countries.
 
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FriendlyVillain

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Ah. You are in the right place. I am an advisor in the business.

Due to regulations on customer data protection, direct selling of “phone book leads” with additional info like job scope or income is basically banned.

The answer is they do not know what leads they want to buy unless you can show them your leads are of quality-that people who have interest and buying power to be closed.

Big players like Insurance companies have a market department to generate inbound sales leads. They also have existing clients whose agents have quit, and that will serve as leads too. These are the best leads that are given to the individual agents/brokers.

Call centers for insurance companies serve to receive inbound calls/leads.

Call centers serve companies charge brokers a service fee and help them to do cold calls to set for appointments. It is charged based on hours and do not guarantee anything.

Anyone who is interested in insurance in their countries can just google and it will lead them to the biggest insurance companies’ online presence. All they need to them is to make a call or text an advisor online on duty (something like a old school messenger). I will be surprised if you can intercept this and charge the advisor for lead generation. :)
Thank you for the thorough reply!

The idea is to generate leads to the insurance broker. Yes, I will have to be compliant with the GDPR, so it works by running comparison websites and such. Then I get these leads directly to the brokerage, where their sales agents handle it.

However, I need to know the numbers involved in the whole process, as I still don't know how viable that is. I actually thought people would be more cooperative on LinkedIn. Either there is something wrong with my approach or I am not asking the right people. So far, I've targeted CEOs and Managers.

I am not operating in the countries you mentioned. But It is quite an old school standard business and doesnt differ much among developed countries.
Yeah, but I am looking for the numbers for these countries. I agree the model would be pretty much the same for all around the globe.
 

Kevin88660

Silver Contributor
I've Read UNSCRIPTED
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Feb 8, 2019
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Singapore
Thank you for the thorough reply!

The idea is to generate leads to the insurance broker. Yes, I will have to be compliant with the GDPR, so it works by running comparison websites and such. Then I get these leads directly to the brokerage, where their sales agents handle it.

However, I need to know the numbers involved in the whole process, as I still don't know how viable that is. I actually thought people would be more cooperative on LinkedIn. Either there is something wrong with my approach or I am not asking the right people. So far, I've targeted CEOs and Managers.



Yeah, but I am looking for the numbers for these countries. I agree the model would be pretty much the same for all around the globe.
Mutual fund one time commission is around 2 percent of AUM.

For life insurance the first year Annual commission of a product is around 30-50 percent of first year premium for a Product that has a Minimum 20 years premium term. The sum the next five years will add up to be slightly less than the first year. It usually stops at year six.

So for a 1k premium per year product the commission will look like $350 for year one, S100 For year two, and $50 each year for the next four years.
 
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FriendlyVillain

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Mutual fund one time commission is around 2 percent of AUM.

For life insurance the first year Annual commission of a product is around 30-50 percent of first year premium for a Product that has a Minimum 20 years premium term. The sum the next five years will add up to be slightly less than the first year. It usually stops at year six.

So for a 1k premium per year product the commission will look like $350 for year one, S100 For year two, and $50 each year for the next four years.
Thank you!
 

Kevin88660

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If you are targeting agency leaders, the answer is they don’t know what leads they want either. Buying leads is a very very small percentage in their leads acquisition. If they are tied up to one insurance company usually they do not buy leads at all, the insurance company has a deep pocket for their marketing departments to generate quality leads for them- in bounds leads calling with interest in new products they saw online or existing clients whose agents have quit.

What you could focus on could be independent insurance brokers who can sell a multitude of products From different insurance companies. They will not get any support at all from insurance companies in leads generation. From my understanding they do buy a small amount of quality leads that serve as a reward to hardworking agents. It is basically “buy and try” for them. If the agent response is that the leads provided by you is “not good” then they will not buy from you next time. A good lead is basically a lead that they can close. It is basically the degree of “hotness” in the client interest. There is no hard and fast rule on demographic as every agent tends to have a different preference.
 

jpn

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In my country, which may have similarities to other European countries (I’m not in the business), the largest lead-gen/comparing website also acts as the broker for various insurance companies. They do not sell leads to brokers or agents. I imagine there’s a reason they do it this way because selling leads would be easier for them.
 
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FriendlyVillain

Contributor
Read Millionaire Fastlane
I've Read UNSCRIPTED
Apr 9, 2019
44
34
47
If you are targeting agency leaders, the answer is they don’t know what leads they want either. Buying leads is a very very small percentage in their leads acquisition. If they are tied up to one insurance company usually they do not buy leads at all, the insurance company has a deep pocket for their marketing departments to generate quality leads for them- in bounds leads calling with interest in new products they saw online or existing clients whose agents have quit.

What you could focus on could be independent insurance brokers who can sell a multitude of products From different insurance companies. They will not get any support at all from insurance companies in leads generation. From my understanding they do buy a small amount of quality leads that serve as a reward to hardworking agents. It is basically “buy and try” for them. If the agent response is that the leads provided by you is “not good” then they will not buy from you next time. A good lead is basically a lead that they can close. It is basically the degree of “hotness” in the client interest. There is no hard and fast rule on demographic as every agent tends to have a different preference.
Yes, the goal is to focus on insurance brokers.

I actually managed to get information about the UK. Brokers there would get paid the bulk commission which is equivalent to 2 years of premiums paid by the customer. So, if the customer pays £40/month, the insurance company would pay £960 (24*40).

So, I need to know if the situation is similar in Italy, Germany, and France, as then I would know how much I could sell the leads for.
 

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