3 Rules to identify high growth, low risk SMBs

The 3 rules leading insurance companies always use to identify high-growth, low-risk SMBs

With 30.7 million small businesses in the U.S. alone, the SMB space represents a tremendous market opportunity. 

And every single one of those businesses needs insurance coverage! 

However, the massive size of the market also means it’s highly competitive, putting further pressure on insurance companies to discover in real-time the need for updating or acquiring new insurance coverage among SMBs.

Growing SMB insurance sales depends on a fundamental understanding of where to focus and how to adapt in order to be more relevant, accessible, and affordable. This requires knowledge about the market signals and competitive insights on SMBs, and the ability to translate them into tangible products, satisfactory services, and easy interactions for the clients. 

SMBs have a number of characteristics that commonly create barriers to their take-up of insurance products, making them, in general, time-poor, price-sensitive, and skeptical customers. 

To be successful in selling to this audience, you need to adopt best practices that will increase sales efficiency, reduce customer acquisition costs, and increase life-time value. 

In short – you need to start growing your bottom line.

The 3 rules every insurance SMB sales team must know

  1. Segment the market-fit for coverage and products to clearly define the ideal customers for a specific insurance coverage;
  2. Define the trigger events that are indicative of an immediate or near future need for a specific product or coverage;
  3. Get regular fresh profiles of businesses that fit your search criteria and show an identified trigger that signals its the right time to reach out with a coverage offer.

Accomplishing these tasks manually is near impossible as it requires a lengthy and tedious process of gathering specific data sets from multiple varied sources. However, with the right tool, you can receive daily alerts on businesses in need of coverage based on your predefined criteria directly in your inbox.

Dynamic data does the work for you

Smart data allows you to track events that are insightful and actionable in real-time, which in turn triggers an action from your team.

Here are some examples of real-time events that are tracked by Leadgence customers in the insurance industry:





What do these real-time events, or triggers, look like for a SMB?

Case study 1 – ALERT: General liability coverage needs updating!


Straight Line is a California-based artisan construction company.

Services offered: Roofing, Siding, Gutters


The business added financing options as a new service, which indicates a change in need for general liability coverage.



Case study 2 – ALERT: New business opportunity!


Wellness Infusion Specialists announced the opening of its first clinic in Texas on Sept. 11. 

Company was formed March 25 with two co-owners.


The new physical location indicates the need for insurance, which is an opportunity for a new account. 


We believe that your team should work smarter not harder

Leadgence leverages smart data by using a system of “tags” and “triggers” to regularly monitor SMBs and compile relevant data with a focus on significant changes and events in a company’s lifecycle. 


“Tags” – labeled data for easy segmentation of target market using  industry-specific tags, ranging from broad segmentation to very narrow parameters, depending on your specific campaign or business needs. 

‘Triggers’ – an early warning signal for events and changes happening in real time, which are indicative of a need for your services or products. Having a knowledge of triggers in your target market gives you a first-mover advantage in allocating marketing and sales efforts.


“Leadgence gives us a first mover advantage over the incumbent broker. Using their data, we are able to show on the very first reach-out that we understand the prospect’s business at an unbelievable scale!” M. C Divisional Director, Head of New Business


See how Smart Data can point you in the right direction – Contact us today!

Leave a Comment

Your email address will not be published.

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.