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How to Use the Right Data to Maximize Sales

The insurance world is changing. The buying power is shifting toward millennials, making them the future insurance customers. Baby boomers are getting older, meaning that they could easily start purchasing more and more life insurance policies. Major shifts into the world of mobile technology are putting people in the insurance industry on their toes of what the next big innovation is, and how soon it will come.

Every single day, new technologies are being created to simplify the lives of both brokers and customers. As a result, brokers need to stay ahead of the game to not just stay in business, but to maximize their potential sales.

What is the best way forward to achieve these goals? In two words: Data usage.


The simplest trick in the book is the good old-fashioned survey. The broker sends out a survey to their clients with questions about their lifestyle, their purchase habits, etc., and then they take that data and turn it into something meaningful for their use. Hopefully it is quick for clients, and most surveys allow customers to skip questions if they do not feel comfortable answering them. So, at the end of the survey, the client feels comfortable and the broker has information.

This obviously has many drawbacks, the most major of which being the fact that surveys are voluntary. A broker could get a 100% response rate, but will most likely get something notably lower and, potentially, unusable. It’s also slower than other techniques of data phishing. However, while the survey lacks in efficiency, it does allow brokers to send them out and proceed to go about their business waiting for responses. With techniques like data mining and probing, lots of time can be consumed surfing the internet and questioning clients. With the survey, all clients can be questioned at once, and data does not need to be sought out. Surveys can also be used for more than just life information. They can also include other topics, such as how a broker can improve their service.

Another excellent thing about surveys is that there are so many online options for brokers to choose from. Platforms such as Google Forms, SurveyMonkey, and Typefrom are just a few of the many choices that brokers have at their disposal when choosing their survey-creation website. Buy using any of these options, sending out a survey to clients will help brokers show that they really do care about them, and that they are not just another random customer.

Connecting With Customers

Establishing connections with customers is a quick way to make them feel happy and appreciated. It can also be a way to learn even more about them and continue to create your field of data that is becoming increasingly necessary in the insurance industry.

A personal connection can easily be created between brokers and their customers by simply following them on Twitter, Facebook, Instagram, etc. It shows that they have an actual interest in their customers’ lives, and that they see them not just as clients but as people. Customers will come to feel a connection towards their brokers and, in turn, hopefully remain valuable, loyal customers for life.

Making these social network connections can also provide a wealth of data, which is incredibly important in this ever-shifting industry. By establishing a personal connection with your clients, you are simultaneously acquiring access to whatever part of their lives they wish to publicize. From here, brokers can start collecting information that will help them sell policies in a more targeted and personal way. By having access to the life events of their clients, brokers can be both more accurate and more customized to their clients’ needs.

LeO - What We Do, And How Does It Fit In?

While both surveys and social media connections are great tools for brokers, they both have notable drawbacks. Surveys need to be created from scratch, the broker needs to understand when the time is right to send one out, and the analysis required after the surveys have been completed can be tedious and time-consuming. With social media connections, brokers have to spend a good deal of time connecting with each individual client, which uses up valuable time. Also, with such a large feed on any given social media platform, brokers are all but guaranteed to miss valuable information, which could potentially cause them to provide a worse overall service to their clients.

LeO, however, is a fantastic resource for brokers to aggregate the necessary data about their current customers to maximize sales, combining all the data into one convenient dashboard. It also helps when it comes to acquiring data, as LeO can fetch data from multiple sources. That way, no asking needs to be done, and the service of the broker can be significantly more accurate and efficient. This means more sales can be created for the broker, and the clients are receiving the most accurate service that best fit their needs.

Insurance customers often forget to insure new things that they buy, as well as update their policies when they need to. This then means that brokers need to constantly check up with their clients to inform them of necessary updates or to probe about new product purchases. However, with LeO, there is no need to probe. LeO will automatically work with the broker to detect new purchases or necessary policy updates. This increases a broker’s efficiency, which minimizes customers dealt with per hour, which maximizes sales per hour!

Data usage and, more importantly, the right data usage, is integral for brokers to stay in the insurance game. As more industries move into targeted and customized services, insurance is following suit. By utilizing online surveys, social media, and a service like LeO, insurance brokers can rest their heads at night knowing that they’re up to speed and have brought a service to their clients that they know they want and deserve.

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