AI solution gathers comprehensive data
about prospects, creating lists of suitable potential future clients
By Christopher W. Cook
In 1998, the rock band Train invited us to “Meet Virginia” in their debut
single. What a character she was. Some of her quirks from the lyrics included: “She doesn’t own a dress; her hair is always a mess. … She never compromises; loves babies and surprises; wears high heels when she exercises,” and so on.
Now, imagine that Virginia is a small business owner; let’s say a boutique or coffee shop. While she may be challenging to understand as a person, wouldn’t it be helpful, as an insurance agent, to understand her business and coverage needs before making initial contact?
Meet LeO.
LeO was founded in 2017 to provide agents and brokers with a tool to accurately identify commercial lines prospects. “The initial idea for LeO started when my husband and I needed home insurance; my mom recommended working with her insurance agent,” says LeO Founder and CEO Liri Halperin Segal.
“When I met with the agent and started to dive deeper, I realized that the process was not optimized—the agent didn’t have the data to build the best policy for me, and most communication with him was a huge waste of time for us and for him. This experience made me think about what was needed to get a better result. This is when I realized the huge opportunity in the insurance industry, and from that LeO was born.
“We wanted to build a solution that made the process of finding the right customer for the best policy efficient and accessible for the agent,” she continues. “It had to be data-oriented, which was the opposite to how the agent I spoke with worked. Thankfully, AI helps to make processes much more efficient, and this is why we started to build an AI engine that agencies could utilize to create high value for their business growth.”
“In the current market landscape, relying solely on personal lines insurance is increasingly challenging due to intense competition and market saturation,” says Scott Angell, vice president of sales with LeO. “Consequently, many insurance agencies are pivoting to commercial lines, which offer better commissions, higher retention rates, and greater growth opportunities.
“However, this shift also brings tougher competition, necessitating proactive strategies to drive new business, rather than relying on referrals,” he adds.
While agents and brokers can attempt to find prospects through email campaigns, cold-calling and other marketing techniques, LeO simplifies the process by gathering comprehensive data about prospects, pinpointing on target markets and creating lists of suitable potential future clients.
“We wanted to build a solution that made the process of finding the right customer for the best policy efficient and accessible for the agent.”
—Liri Halperin Segal
Founder and CEO
LeO
“LeO empowers producers to locate key prospects or develop niche lists within seconds,” Angell says. “Whether targeting one prospect or thousands, LeO delivers essential information such as workers compensation details, mod factors, OSHA records, DOT information, benefits, bonds, 401(k) data and more. This vast array of information allows producers to make informed decisions and tailor their approach to each prospect.
“A common strategy among brokers is focusing on a single data point, such as workers compensation,” he ads. However, when numerous brokers in the same location use the same data point, competition becomes fierce.
“LeO provides brokers with a wealth of data points to differentiate themselves from the competition,” Angell continues. “By leveraging LeO, agents can quickly identify key personnel, analyze employee trends, detect violations, observe buying trends, and assess loyalty to brokers or carriers.”
There are several key factors regarding LeO’s platform that make it stand out. Here are a few:
- A database consisting of over 32 million businesses
- The use of predictive AI to forecast commercial auto renewal dates (X-dates) and general liability (GL) needs
- A live contact database providing up-to-date information
- Integration with customer relationship management (CRM) systems, giving the ability to bulk push data like carriers, brokers, benefits, GL and auto X-dates.
“LeO empowers producers to locate key
prospects or develop niche lists within seconds.”
—Scott Angell
Vice President, Sales
LeO
“LeO’s integration with CRM systems and comprehensive data sets allows new producers to quickly establish themselves and succeed,” Angell says. “Our product accelerates their validation process by helping them identify niches and market effectively.”
To stay on top of changes in the industry, the team at LeO commits to making enhancements and upgrades to its solution based on customer feedback.
“Business is constantly evolving, and LeO adapts to meet the changing needs of its users,” Angell says. “This agility ensures that LeO’s customers stay ahead of the curve, leveraging data, speed, and insights to sell more and save time.
“LeO’s extensive database, innovative AI capabilities, and seamless CRM integration make it the leading tool for insurance producers,” he concludes.
Agency perspective
What do agency owner users of LeO have to say?
For Chris Paradiso, owner and CEO of Paradiso Insurance in Connecticut, LeO is a game-changing AI-powered prospecting tech platform. “In the ever-evolving technology landscape of insurance, being at the forefront is imperative for my agency,” he says. “LeO is tailor-made for independent insurance agencies specializing in commercial lines insurance.
“It empowers sales agents to expand their business by swiftly identifying ideal prospects for their agency. This tool has allowed our agency to be very specific about what we are looking for in commercial accounts, such as how many employees, types of businesses and location.
“From contact details to insurance specifics like X-dates,
experience modifiers, workers compensation data, and more,
LeO provides a comprehensive view, streamlining the prospecting process.”
—Chris Paradiso
Owner and CEO
Paradiso Insurance
“This treasure trove of information equips us with the insights needed to pinpoint businesses across the United States efficiently,” he continues. “From contact details to insurance specifics like X-dates, experience modifiers, workers compensation data, and more, LeO provides a comprehensive view, streamlining the prospecting process.”
LeO also generates a curated list of relevant prospects—sorted by X-dates—by leveraging data analysis of a producer’s book of business and recent search history. “This targeted approach allows agents to concentrate their efforts on the most promising leads, thereby elevating the likelihood of successful conversions,” Paradiso says. “Additionally, LeO alerts producers of new prospects via their inbox, ensuring they never miss out on lucrative opportunities.”
Paradiso also values LeO’s “seamless integration. With its intuitive interface, and it even has a mobile app, LeO ensures accessibility from your home, office or even in hands when you’re on the go,” he says. “Even those devoid of technical expertise can navigate the platform effortlessly, thanks to its user-friendly design, and that’s been super helpful for our older sales producers.
“What’s more, LeO seamlessly integrates with leading agency management systems (like HawkSoft) and CRM systems like Salesforce and AgencyZoom, simplifying data transfer and saving producers valuable time.
“I was incredibly impressed with LeO after meeting Scott
at an industry convention. The team continues to develop
and improve the product with new integrations.”
—Rob Bowen
Founder, Patriotic Insurance Group
“In today’s hard and challenging market, having the upper hand is non-negotiable, and LeO equips insurance producers with unparalleled access to critical data within seconds, enabling them to stay ahead of the competition,” Paradiso adds.
“From validating prospects based on employee trends and regulatory compliance to accessing key personnel and contact information, LeO empowers producers to make informed decisions swiftly,” he says.
Rob Bowen, founder of Patriotic Insurance Group in New York, echoes his statements. “I was incredibly impressed with LeO after meeting Scott at an industry convention,” he says. “The team continues to develop and improve the product with new integrations.
“There’s no installation; it works out of the box and is simple to use to search for data. LeO allows us to save hours on creating prospect lists and getting them assigned into sequences on AgencyZoom.
“If you sell commercial lines at all, LeO should be required. Schedule a demo to show the data that is available in your state or area,” Bowen concludes.
For more information:
LeO
meetleo.com
