Cold call lists can be a good investment for an insurance broker, however there are many fly-by-night companies on the web selling poor data. It is up to the agent to make sure the company is legitimate. Once it is confirmed that the company is reputable you can start to determine if it is worth your money (and time) to purchase these types of lists.
A cold call list is not the same as a fresh insurance lead or an aged insurance lead. Many times agents buy the list thinking the prospects are interested in insurance. Although cold call lists can be targeted, they are not real time or aged insurance leads.
Cold call lists are prospects that an agent can call on with the attempt of earning their business. The list should be targeted to fit the market the agent is trying to sell to. For instance, if you are a senior life agent, you may buy a list of people over the age of 50 who are married and own a home. This will not assure you that the list is full of people interested in insurance, but it will give you a chance to solicit to people in your target market.
Transparency is a factor to consider when buying a cold call list. Make sure you confirm with the list company that the phone numbers are scrubbed using the Do-Not-Call List Database. You could incur fines and penalties if you call a person in this database and they complain to officials.
The price of the list is important, but do not get hung up on it. A higher list cost does not always mean it is of better quality. It might take some trial and error to uncover a good list company. Ask the company if they have a "trial" list so that you can see if the quality is where you want it. A cold call list is usually cheaper than a real time or aged insurance lead. If you are used to buying these types of leads you might be in for a shock. If you like real time leads, but you cannot afford them try using aged insurance leads. These will be less expensive and can act as a very targeted cold call list.