Lead validation can be a pain point for any insurance marketer, regardless of the line of business. While marketing leads are rarely in short supply, they are often plagued with problems such as false or missing information or duplication. This can be the case for purchased leads as well as organic leads generated from a carrier’s own website.
Despite the vast number of leads insurers receive, lead filtering is often left to agents and call center staff. Verifying leads is a laborious process, costing much time and effort. Often agents and call center staff don’t have the tools to help them get the job done. LexisNexis® Lead Optimizer automates the lead verification process by applying advanced analytics to filter and score leads, empowering marketers to make more effective decisions with minimal delay.
Situation and Challenge
A leading multi-line carrier was facing significant issues verifying leads, despite working hard to develop a robust lead generation program. While a plentiful supply of leads were being generated via the company’s website, the contact information was often incomplete or inaccurate. The company’s agents were spending considerable time and energy trying to prioritize and contact potential customers with sporadic success. The process was not only causing agent fatigue, it was proving to be costly and inefficient.
Using LexID®, our unique identifier for every individual, LexisNexis was able to identify, link and organize lead information, including aliases, name and address changes.
Drilling down even further, the organic leads were analyzed to determine if the identity components fit together ensuring a prescribed level of identity verification.
The insurer took advantage of the robust lead and insurance-specific qualifying capabilities of Lead Optimizer. To do this, the insurer incorporated additional LexisNexis predictive models into its configuration of Lead Optimizer. This provided valuable insight on predicted quoting and conversion behavior, helping the insurer maximize its marketing ROI.
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