Buying Triggers

1. Business lifecycle events may necessitate new insurance or policy endorsements.

• Examples: business formation, small business loan, franchise agreements, leasing commercial space, purchasing equipment, hiring employees, expanding to new locations or states, switching software providers (e.g. payroll, PEO, payments, POS).

2. The insurance industry experiences peak seasons for new policy purchases and renewals. Capitalize on renewals, especially for a mature user base.

• January is the peak month for workers' comp sales and renewals. The January peak creates a ramp up period in sales from early Dec and extends through early March.

  • Marketing campaigns during this period can yield significant dividends.

  • Businesses, excluding Texas, must have workers' compensation before their first payroll, facing fines for non-compliance.

  • Monopolistic insurance states (WY, WA, OH, and ND) require direct purchase from their state-run fund.

• General liability has peak seasons in October and January, with January as the primary renewal month.

  • October is opportune for competitive pricing searches leading up to January renewals.

3. Seasonal businesses (e.g. ice cream shops, gardening stores) experience spikes in insurance purchases and renewals before their opening season.

• Awareness of industry-specific peak seasons helps teams prioritize insurance messaging for targeted users.