Jornaya GM of Insurance Jaimie Pickles writes about The Insurance Lead Ecosystem in this piece that appeared in Insurance Thought Leadership. Pickles outlines how buyers and sellers all gain by being able to transact leads using a single, trusted currency; it creates valuable consumer experiences. Below is an excerpt from the article.
In today’s online insurance shopping environment, many lead sellers and buyers work well together toward the same goal of delivering a great customer experience. But, it hasn’t always been this way.
For example, in the mid 1990s, when InsWeb sold the first data lead produced from an online insurance quote form, our industry was a lot less focused on customer experience and a lot more focused on selling as many leads as many times as possible to anyone that would buy them.
As you might imagine, the self-interest of lead generators, lack of industry standards being adopted and increasingly complex privacy regulations meant the industry would struggle to survive. Many learned the hard way (consider the demise of Bankrate Insurance, outlined further in this article), while others developed technology and standards to drive a better customer experience and are thriving today.