How Insurance Carriers Use Phone Intelligence to Boost Lead Conversion

Like any business, insurance carriers heavily rely on generating leads, driving conversions, and motivating interested shoppers to get in direct contact.

Insurance marketers often focus on traditional channels for lead generation, forgetting about one of the first channels to offer personalization to clients – phone calls. That explains why carriers often focus on landing page tips to increase conversion and underestimate the impact of calls and phone intelligence.

Today, one out of three customers discovers insurance services online. However, most of them resort to firing up a phone call to talk things further and consult with an agent.

Insurance marketing is all about understanding and knowing your clients down to the zip code. But how can carriers ensure that they make the most out of all the calls and spur high conversion rates?

As Director of Business Development of Financial Services for Phonexa, my daily mission is to make sure clients stay dialed in on the value a phone call presents them.

Turning phone calls into leads and possibly into conversions remains a difficult task. It becomes even more complicated when prospective clients have to wait on the line to get relevant information.

Let’s explore how implementing an insurance lead management system can help agents and carriers pinpoint the most cost-effective channels, leverage inbound calls, and generate more insurance leads.

Why Insurance Providers Need Call Tracking

It’s no secret that marketers need granular reports and customer data to make more educated decisions, optimise active campaigns, and create even more effective campaigns in the future. Data is the name of the game, regardless of the industry or vertical they operate in.

While often undervalued, calls are the lifeblood of the insurance industry. That’s the channel that can help carriers drive customer acquisition, establish top-of-mind awareness, and strengthen relationships with policyholders.

Agencies and carriers often have call centers that deal with all kinds of insurance-related questions and issues. However, one of the biggest problems these call centers and insurance providers face is that they lack proper analytics and tracking solutions.

Interested shoppers often want to speak to a real person when looking for a suitable policy. These shoppers tend to have a significantly higher conversion rate (CR) than web leads. This, among other reasons, explains why carriers need to use phone intelligence and other insurance marketing tools.

The Power of Instant Insights

What’s considered a conversion in the insurance industry? It can be a quote, a written policy, consulting services, and so much more. Some, if not all, can occur over the phone.

That’s why companies that are not utilizing insurance tracking software can miss out on crucial call data and fail to take advantage of every step of the customer journey.

Agencies and carriers can’t afford to ignore the impact phone calls can have on their CR, ROI, and bottom line. So what insurance marketing experts need is to gain insights into customer conversations and instant access to phone intelligence.

With the right call tracking solution – like Phonexa’s Call Logic paired with Cloud PBX as part of an all-in-one marketing solution for calls, leads, clicks, email, SMS, and accounting – providers can rest assured that their insurance advertising will yield great results.

Let’s look at how Phonexa’s call tracking and distribution platform helps insurance providers, agents, and agencies reach their full business potential.

• Daily briefing: Call Logic’s analytics feature can be a real game-changer if you’re looking to boost CR and revenue. Every insurance marketer needs data-analysing resources to fuel insurance campaigns and simplify the interpretation of call data throughout the leadgen process.

• Control and insights: The IVR feature helps insurance marketers create an efficient and customisable journey. Voice logic is what agencies and carriers need to collect critical data, speed up conversations, boost their call capacity, and engage shoppers.

• Integration: Phonexa’s system allows effortless integration with your current tech stack, making it possible for insurance marketers to bring in more dream traffic, spend less, and write more policies.

• Targeted campaigns: Phonexa’s predictive modeling feature empowers insurance marketing experts looking to create more targeted campaigns. Apart from data sets, predictive logic offers critical information on past consumer interactions and allows marketers to advocate for new approaches and strategies. Once you pair that with a game-changing feature like Ping Post Calls 2.0, the options are limitless.

• Data visibility: There’s no denying that caller demographics and traffic quality matter. Providers and agencies can bring together all the data points they deem critical, filter lead settings by zip codes and states, run per-state comparisons, and spot opportunities.

Ultimately, Phonexa’s insurance marketing tools are designed to dramatically improve your lead distribution efforts, identify important trends, boost CR, and get the best return on your marketing spend.

Final Thoughts

Today’s landscape makes it challenging to prove your credibility to prospective clients and reach new insurance customers. That’s why it’s crucial to understand why and how customers interact with your brand, and which sources lead to the three important C’s – clicks, calls, and conversions.

Implementing an insurance tracking software is a surefire way to kickstart more intelligent insurance marketing, improved customer experience, and work your way to market dominance.

Schedule a consultation to learn how Phonexa can give you more insight and control over your insurance marketing efforts.