Prospecting is the act of exploring, searching, surveying or examining with the intention of choosing or procuring the best. A person or company intending to purchase insurance covers must prospect for the best available in the market that meet its needs. The policies to be bought must meet certain core criteria and within the prescribed budget.

To prospect for the best polices, scour the internet websites of top insurance companies. Drop by any insurance sales outlets in the city in the vicinity to discuss with the sales-persons your insurance needs. Get their recommendations and quotes. If there is access to insurance company reviews, look them up and analyze insurance companies’ track records and claim performance.

If need be, talk to people who have bought policies with these companies for their views. Study annual reports of insurance companies which are public listed. Identify current issues that the insurance industry has that may have a bearing on what kinds of features your insurance policies ought to have.

Once you have done an exhaustive prospecting job, do a comparison and analysis of all the proposals before arriving at a shortlist of insurance policies you want and the likely companies to buy from. Look at all the printed information on their policies, the coverage, quotes and premiums. Compare similar type policies. Look for cost–free or discounted add-ons.