Virus-related advertising and online search terms used to scare customers into applying for life insurance
Some lead generation firms are using fear around the coronavirus pandemic to direct people to quote portals
COVER has seen one lead generation firm use the term ‘Life Insurance Virus' in its URL and ‘Viral Infection Life Insurance' on its landing page.
The firm in question also displays the logos of major life insurance brands such as Legal & General, LV= and Aviva on its site to imply affiliation with credible providers.
Roland Farkas, head of digital media for Engaged Solutions, said: "Some lead generation firms have exploited the consumer market by using the word ‘virus' on ads and landing pages in order to scare them to into applying. Using broader terms on Google and including 'virus' in them will also increase the chances that more people click their ad."
Some are even using virus-related imagery on display advertising to lead people to click and apply.
COVER understands that Google favours websites that have a higher click and conversion rate, giving them cheaper clicks which, as a result, can drive up the cost for other advertisers.
According to Farkas, these practices also change the intentions of customers and can lead to lower conversion rates and higher clawback once sold to protection brokers.
Engaged Solutions is a lead generation firm which has worked alongside Contact State to focus on compliant lead generation. "We believe that every lead should be sold once and no more, and we also think about the user first; nothing is more important than our customers," he said.
Yesterday we reported that ‘rogue' lead generation firms were pretending to be leading insurance brands in order to dupe customers into applying for life insurance, and that these types of practice have been increasing around coronavirus.
Brokers who buy inappropriately sourced leads could be found liable under ASA and FCA advertising rules.
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