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Life insurance agents have the most challenging job as they sell one of the most important products for customers but with the least awareness amongst the public. Life insurance products important and life saving for family members

Life insurance agents need a robust lead generation and management system. Only using a good lead generation strategy can help life insurance agents to sell their products effectively (such as life insurance products, term insurance, money back policies, health insurance etc).

In this blog, we discuss 10 of the best life insurance lead generation strategies that can help life insurance agents to source, generate, and nurture leads so that they can be converted to prospects and customers eventually.

10 Best lead generation strategies for life insurance agents

As market demand and competition among insurance companies rise, manual lead generation has been replaced by software that pre-screens leads. The agents can then take it up and schedule calls or meet them in person to explain the products and help them choose the right product.

Here are 10 life insurance lead generation strategies you must implement:

1. Referral programs

A successful sales technique to improve the lead generation strategy is to implement a referral system. Many industries have been doing this successfully and is one of the most reliable ways to generate leads that are prequalified. Such leads are often prequalified, as existing customers can vouch for their fit and provide useful details like demographics and current policies.

The ice breaking is much easier in a referral program than with a cold lead. Here are some features of referral program:

  • Get qualified leads with product needs.
  • Easy to access and break ice using existing customers.
  • More chances of conversion to actual customer.
Case Study: AXA Life insurance has been using a successful strategy of ‘refer a friend’ program. Both the parties, the primary customer and the referred friend, both benefit from the program as they get rewards in the form of cash bonus. Using this technique, many new insurance policies were sold between 2022 and 2023 by AXA.

2. Content marketing

Using the right content can be a powerful tool for those who want to acquire more leads on the insurance website and to raise a database of online leads. Content marketing helps with preparing the right content using tools such as SEO and affiliate links that help in targeting the right online leads.

Some of the content that can be prepared for those who are looking for insurance products or for audience that can be nudged into buying an insurance products are:

  • Blogs on insurance and related topics.
  • Affiliate links of insurance products on other websites.
  • SEO through relevant aged domains for direct marketing content that is fine tuned for customer needs.
Case study: The Murray Group insurance is a popular insurance firm that uses an effective content marketing strategy that uses youtube videos and other websites and blogs to promote insurance and related topics, thereby increasing their sales. This helped them grow into a company that has more than 23,000 offices in the world.

3. Social media engagement

Engaging with the audience on social media is one of the most powerful ways to interact with the common public today. In this era where all the information is out there and social media of all companies and brands have a functional and effective social media handle, social media engagement is the need of the hour.

So, choosing the right social media platform for your business is crucial for effective social media engagement. Using the life insurance’s company page on social media pages such as FB, Instagram, Twitter/Threads, or company website, audiences can be engaged using:

  • Targeted ads
  • Regular post
  • Quizzes
  • Surveys/Polls etc
Case study: Allstate's "Mayhem" Campaign on Twitter and Facebook

Allstate's "Mayhem" is one of the most recognizable insurance mascots. Portrayed as everything that could go wrong in your life (from a hailstorm to a faulty GPS), Mayhem represents all the reasons why someone would need insurance.

On platforms like Twitter and Facebook, the Mayhem character actively engages with followers by sharing humorous anecdotes, safety tips, and timely reminders (like winterizing your home). The posts often come with a humorous or unexpected twist.

While the content is entertaining, it also subtly underscores the value of having good insurance. CTAs accompanying posts encourage users to get a quote or check out coverage options, driving traffic to Allstate's main site.

4. Webinars and workshops

Using webinars, audiences can be effectively educated about life insurance products. Free webinars are an excellent way to get precise customer information using webinar subscription forms and then use this data to engage with potential customers.

Workshops are another interesting way of interacting with customers by introducing them to new concepts, educating them about various insurance products and getting potential clients to ask questions and clarify doubts.

Webinars and workshops can also be a good way to connect with customers on a personal, one on one basis so that customers and agents can bond with each other.

Case study: Liberty Mutual's Educational Webinars

Liberty Mutual often hosts webinars that cater to specific audiences, such as homeowners or car owners. These webinars provide valuable information about insurance topics that matter most to these groups.

A webinar might focus on "Understanding the intricacies of home insurance" or "Safety measures and their impact on car insurance premiums." Experts from the company often lead these sessions, explaining concepts, answering questions, and offering tips.

At the end of the webinar, participants typically receive resources or tools related to the topic, with CTAs encouraging them to get a personalized quote or speak to an agent. The registration process for these webinars also helps Liberty Mutual gather information about potential leads, allowing for targeted follow-ups.

5. Landing pages and opt-in forms

Landing page is the website to which customers or leads are redirected to, so that customers can gain information of products and insurance schemes that are offered by life insurance. These pages can be dynamically built with product descriptions, catalogs, contact details for further information, prices and other details such as testimonials or benefits.

The links of these landing pages can be strategically placed in blogs and other affiliate sites. Opt-in forms help in gathering customer data and also helps with providing information in the form of subscription, newsletter services.

  • Catchy headlines, topics and other headings.
  • CTA buttons that highlight information and helps take action.
  • Create opt-in forms with multiple pages to gather details.
Case study: SoFi and Ladder use a creative and simple landing page that uses funnel type questions and a large sized ‘Get Quote’ button to capture attention and to call for action on people who land on their page. It takes them through the various products and options they have in a simple, effective way.

6. Search engine optimization

SEO or Search engine optimization goes hand in hand with content marketing. Using SEO tools, agents can use keywords and SEO meta tags to provide meaningful content that matches enterprise SEO objectives. This content can help in attracting more leads because of the keyword used in the content of the website or the blog site. Additionally, by leveraging SEO checker tools like SE Ranking , you can identify areas in your content that could be improved to increase organic visibility. Many businesses benefit from partnering with SEO companies to optimize their online presence and enhance their search engine rankings. When a prospective client types in a search engine looking for insurance products, SEO tools can help in giving out the target link much ahead of the competitor's product.

  • Using SEO tools you gain more online visibility
  • SEO helps in propelling online content
  • SEO helps in finding the right keywords to fine tune auto search content.
Case Study: ICICI Prudential Life Insurance company uses an effective CRO strategy that combines the power of SEO and website analysis to generate more inquiries, better conversion rates and organic traffic to their website. As a result, their online presence and conversion rates grew by 45% on AMP and 33% on desktop pages. 

7. Pay-per-click advertising

Pay per click is an ad technique for increasing digital leads on the website of the insurance company. Pay per click advertising is one of the methods to increase the clicks and opens of a company website and in this case, a life insurance company’s website.

This campaign can be conducted as part of the digital marketing efforts to improve the visits on the website or the product catalog of the life insurance website. Life insurance agents can increase their website visits for website, product catalog page, blogs, affiliate link page etc using an effective pay per click advertising campaign.

  • PPC campaigns help gather attention
  • They give out good leads by increasing clicks and opens on the site
  • A popup to sign up or a survey form can help gather information of the customer so that they can be contacted later by the agents.
Case study: Peninsula Insurance company is a popular health and auto insurance firm in the USA that saw an instant double returns on their ads and revenue due to simple google ads and PPC campaign management. Using an effective SEM, landing page and robust low rate keyword, the company was able to double their revenue with the same ad spend. 

8. Networking and partnerships

Networking is a big weapon at the disposal of a life insurance agent. Using the right network, agents can tap into both B2C and B2B customers. Both individuals and companies need insurance policies and with the right network, agents can easily gather more leads for sale of policies as group policies or sell multiple insurance policies for health, life, term or ULIPs to individuals in a family.

Partnering with general insurance companies, banking companies, property sellers, medical institutions, large companies etc can be a great way to increase the number of leads. There are many untapped partnerships that agents can come up with as many products can be linked with insurance. Using powerful partnership and networking network, agents can hope to:

  • Build a stronger database of leads
  • Easier to push products when combined with another product
  • Sell as a bundle, which makes it more appealing to clients.
Case study: Liberty Mutual, an insurance powerhouse combined their forces with Amazon Web Services to improve their digital presence. Liberty improved their time to market and became one of the first to go complete server free by moving operations on the AWS Cloud. 

Another example is AARP and The Hartford Partnership

The American Association of Retired Persons (AARP) has a partnership with The Hartford, an insurance company. AARP is a membership organization for seniors, and Hartford offers insurance products, including auto and home insurance.

The partnership involves AARP endorsing and promoting insurance products from The Hartford to its members. Members are offered exclusive benefits, discounts, and tailored insurance solutions.

AARP's large and trusted membership base provides Hartford with a steady stream of potential leads. The endorsement and special offers serve as strong incentives for AARP members to consider The Hartford for their insurance needs.

9. Cold outreach

Cold email outreach is a way to get in touch with clients and customers who are not actively looking to buy a life insurance product from an agent. Cold outreach can be done either through cold calling campaigns, cold outreach email campaigns or cold outreach SMS campaigns.

This involves calling, emailing or messaging customers out of the blue but with a strong and effective pitch that might pique their interest. Agents should be able to craft a quick and effective pitch that can get the client talking (or clicking a link or website hyperlink in the case of email or SMS).

It can be an effective way to instantly connect and explain your case as an agent:

  • An effective elevator pitch or an attractive and concise email/SMS is important
  • There must be a clear CTA or an open ended question that can help customers engage
  • Try to get a referral if the customer is not interested for themself, at the least.

10. Client testimonials and case studies

Life insurance agents can use client testimonials and proven case studies to attract more people. A brand that is trustworthy attracts more clients and customers. This is what sets a brand apart from the rest of the competition in the market. Using testimonials on landing pages or websites or even social media pages can help in gaining more audience.

Customer case studies of how a policy or insurance product helped a client or customer in their life and how insurance products are the best way to go forward. Testimonials and case studies can be an effective way to generate more leads, store them in client databases and nurture them as you go and convert them eventually.

Case study: Nickerson Insurance, a popular US based insurance company uses a simple yet effective home page on their website which hosts emails and testimonials from their clients and customers in the past which gives a simple message to new prospects - a trustworthy insurance provider that people have worked with.

Conclusion

Insurance is one of the toughest and yet the biggest market today. Post the covid era, many people are looking into various insurance products especially in the lines of health, term and life insurance so that their life value and health is covered and their loved ones are protected in the case of an eventuality.

Life insurance agents have the most important task of educating people on the benefits of life insurance policies and helping customers pick out the most suitable policies for them.

Using the 10 strategies listed above, life insurance agents can pick out the right clients from the market, generate suitable leads, nurture them and convert them by delivering the right products and providing exceptional service.

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