Broker Lead Connect platform map

Clark Family: their Google ads

About 500 ads, one site per product

Pulled from the Google Ads Transparency Center for advertiser AR07762820037928288257. [3]

489 ads scraped:
427 search, 46 display, 16 YouTube

Insurance still live. 125 ads shown in November

All 310 finance ads stopped by 21 Sept

Same template on every subdomain

Same header, quote box, stock render and long article on all of them

33 sites captured. ASIC names about 45 domains, up to 70 sites [2]

commercial-property.insuranceonline.com.au

plant-and-equipment.insuranceonline.com.au

On a phone

Desktop-era page squeezed onto a phone. Small inputs, no one-tap answers.

The quote form, walked to step 1 only

We stopped at step 1. Nothing was submitted.

Truck: Australia-wide, entity, occupation, trucks, sum insured

Farm: 11 farm types, name, address, postcode, expiry

Liability: cover type first, part-time filtered out

FSO says about half of all forms fail the filters [1]

Where the lead goes: the broker auction

Broker picks lead types

Area: national, state, district or postcodes

Sets a bid and a weekly budget

Pays half way to the next bid

Emailed to one broker straight away

No call centre, no follow-up

Their own worked example

From the broker tour. [1]

Bidder	Bid	Result
#1	$20	Out of budget, skipped
#2	$20	Wins, pays $13
#3	$6	Sets the price

Licence and the ASIC case

18 Sept 2026
ASIC sues in the Federal Court, QUD630/2026 [2]

20 to 21 Sept
All 310 finance ads stop

1 Oct
Credit rep 401491 under Saccasan ends [27]

Now
Insurance runs on under Unique Group AFSL 509434

ASIC register: credit representative 401491

ASIC register: AFS authorised representative 1298860

What they likely spend

Keyword Planner, Australia, Oct 2025 to Sep 2026 [4]

Group	Searches a month (floor)	Avg CPC	Spend a month
Liability and PI	20,100	$32	$9,800 to $93,600
Strata, landlord, property	11,300	$34	$5,800 to $55,500
Truck	1,210	$47	$850 to $8,200
Farm, rural, plant	420	$20	$130 to $1,200
Trades, hospitality, beauty	420	$34	$220 to $2,100
Finance (before Sept)	30,200	$23 to $50	$13,500 to $130,000

Working: searches x impression share x click-through x CPC. Low case: band floor, 30% share, 5% click-through. High case: 3x the floor, 60% share, 8% click-through. Estimates only.

Best guess: $40k to $90k a month on insurance now

$30k to $60k a month on finance before it stopped

Brokers in this market commonly spend thousands a week on leads

Our consumer flow

1

Search ad promises up to 3 broker quotes

2

3

4

5

The page promise picks the sale mode. "3 quotes" pages sell shared to 3. "Talk to a specialist" pages sell exclusive.

No "cheapest quote" claim unless a licensed broker compares insurers and can back it

Code checked before any broker sees the lead

Placeholder names and numbers throughout

Pricing engine (admin view)

Admin: score breakdown, floor price and sale mode for one lead

Sale modes

Picked per lead. [17, 20]

Score 75+
Exclusive auction, 30 s bids

Score 50 to 74
Shared, up to 3, fixed price

Partner APIs
Ping-post, full post within 5 min [20]

Big finance loans
Booked appointment

Speed to lead

Drop off after the first few minutes is the 2007 MIT and InsideSales finding. [24]

0 s code confirmed

1 s scored and priced

5 s SMS to consumer and broker

60 s our auto-call if opted in

10 min unclaimed goes to next buyer

Example figures on these screens. Real prices come from the test.

How a lead is scored

Signal	Weight	Why
Intent	25	Start or renewal within 30 days
Phone verified	20	SMS code passed, live mobile [5]
Completeness	15	Every answer, values in range
Vertical value	20	Expected broker commission
Time of day	10	Business-hours leads get called faster [24]
Duplicate and fraud	10	Not seen in 45 days, consent stored [22]

Starting weights. Tune them on real sales data.

How a broker buys from us

1

Filters: products, postcodes, score, hours, caps

2

Marketplace: only leads inside their filters

3

4

5

Lead detail: call timer, pre-filled BrokerLoop quote

6

Wallet: prepaid, capped, refunds credited [18]

7

Refund window 7 days, decided in 48 hours, credited to wallet [9]

No answer and lost quotes are priced in, and said up front [13]

Unclaimed after 10 minutes, the lead moves on

Licence checked on the ASIC register at signup [25]

How other platforms sell leads

Platform	Signup	Filters	Pricing	Shared?	Delivery	Refunds
FSO (Clark)	Register online, first $100 matched [1]	Lead type, state, district, postcode	Second-price auction, weekly budget	Exclusive	Email, immediately	Not published
Bark	Profile, buy credit packs [5]	Service, location	Credits per lead, dynamic [5]	Up to 5 pros [6]	App, email, SMS-verified phones [7]	Invalid number only, 14 days [8]
hipages	Subscription plus credits [11]	Trade, area	Credits, about $25 to $80 a lead (third party) [11]	Up to 3 [10]	App [9]	Review within 7 days [9]
Angi	Account in good standing [13]	Task, ZIP codes	Per lead by task and location	Up to 5 [14]	App, call within 24 h	Bad phone, wrong area, duplicate [13]
QuoteWizard	Agent account	Product, state	Exclusive or shared [16]	Max 4 per auto lead [16]	Real time	Not confirmed
Boberdoo, LeadExec	Buyer portal, prepaid wallet [18]	Any field, schedules, caps [18]	Fixed, tiered or ping-post [19, 20]	Seller sets	Post, email, SMS, live transfer [20]	Return reasons, auto-rules [21]

Cap shared leads at 3. Bark and Angi go to 5 and get the most complaints.

Show the price before purchase, like Bark

Prepaid wallet with hard caps, like Boberdoo

Reddit threads could not be read. Complaints came from Trustpilot and forums.

Unit economics (estimates)

Assumption
CPC = midpoint of Keyword Planner top-of-page bids [4]. Likely high.

Assumption
Form rate 10%. We have no conversion data yet.

Assumption
Half of forms fail checks, the rate FSO quotes [1]

Assumption
Refunds 10% of sales

$50 is an example sale price used to test the maths, not a market price

Cost and break-even per lead, central case

Vertical	CPC (est.)	Per form	Per sellable lead	Break-even 1x	Per share, 3x	Per share, 2x	Margin at $50 1x	Margin at $50 x 3
Liability and PI	$32	$320	$640	$711	$237	$356	-$595	-$505
Strata, landlord and property	$34	$340	$680	$756	$252	$378	-$635	-$545
Truck insurance	$47	$470	$940	$1,044	$348	$522	-$895	-$805
Farm, rural and plant	$20	$200	$400	$444	$148	$222	-$355	-$265
Trades, hospitality and beauty	$34	$340	$680	$756	$252	$378	-$635	-$545
Car and motorbike loans	$23	$230	$460	$511	$170	$256	-$415	-$325
Boat and caravan loans	$35	$350	$700	$778	$259	$389	-$655	-$565
Business, truck and equipment finance	$50	$500	$1,000	$1,111	$370	$556	-$955	-$865

Working: cost per form = CPC ÷ form rate. Per sellable lead = CPC ÷ (form rate × 50%). Break-even 1x = that ÷ 90%. Per share = that ÷ (shares × 90%). Margin at $50 = $50 × shares × 90% minus cost per sellable lead.

Cost per sellable lead by CPC and form rate

Green $100 or under, amber to $300, red above.

CPC	Form rate 5%	10%	15%	20%	30%
$5	$200	$100	$67	$50	$33
$10	$400	$200	$133	$100	$67
$20	$800	$400	$267	$200	$133
$30	$1,200	$600	$400	$300	$200
$40	$1,600	$800	$533	$400	$267
$50	$2,000	$1,000	$667	$500	$333

Form rate needed to break even

CPC	Form rate needed, $50 exclusive	Form rate needed, $50 x 3 shared
$10	44%	15%
$20	89%	30%
$32	Over 100%, not reachable	47%
$47	Over 100%, not reachable	70%

At $50 a lead it only works with cheap clicks and high form rates, or by selling each lead 2 to 3 times.

To confirm: real bid prices and volumes on FSO

Clark today against ours

Clark today

Ours

Mobile form

Desktop-era form on a phone [1]

One question per screen, 4 steps, under a minute

Quote prep

Broker starts from scratch

Answers pre-filled into BrokerLoop

Promise

'Comparative quotes' while one broker buys it [2]

'Up to 3 quotes' only when sold to 3

Consent

'One participating broker' in small print

Says how many brokers and that they pay us, record kept [22]

Speed

Email to the broker, no check [1]

SMS in seconds, 10 minute claim timer

Nurture

None

SMS and email until renewal

Calls

No call centre

Optional auto-call and booked meetings

Refunds

Not published

7 days, objective reasons, 48 hours

Licensing, plainly

FSO held two appointments: an AFS authorised rep for insurance and a credit rep for finance [27]

We would need the same through the group's licences: an AFSL and an Australian credit licence

ASIC warns licensees who buy leads that their own licences are at risk [25]

ACCC wants lead generation under the unsolicited selling rules [26]

Lawyer signs off before any page goes live

Ways to build it

GHL-based MVP

GHL forms, pipelines, workflows, Stripe wallet

Fixed price, round-robin by postcode

About 2 to 4 weeks (estimate)

Cheap and quick. No real auction, manual refunds

Custom marketplace

Supabase, bid engine, our own portal

Auction, shared, ping-post, appointments

About 8 to 14 weeks (estimate)

Fits the model exactly. Longest build, we maintain it

Off-the-shelf

Boberdoo, LeadExec or similar [17, 20]

Mature routing and returns built in [18]

About 4 to 8 weeks (estimate)

Licence fee not published, US-centric

Weeks 1 to 4
GHL MVP, 3 products, fixed prices

Weeks 5 to 10
Measure cost per lead, refunds, buyers

Decide
Build our own, or license software

Sources and gaps

FSO broker tour, financialservicesonline.com.au/leads financialservicesonline.com.au/leads/
ASIC 26-221MR, ASIC sues lead generation business over alleged misleading comparison claims asic.gov.au/about-asic/news-centre/find-a-media-release/20
Google Ads Transparency Center, advertiser AR07762820037928288257 adstransparency.google.com/advertiser/AR077628200379282882
Google Keyword Planner, Australia, Oct 2025 to Sep 2026 (screenshot in the report folder)
Bark: how lead pricing works help.bark.com/hc/en-ca/articles/18043745477788-Understandi
Bark: leads shared with up to 5 pros help.bark.com/hc/en-ie/articles/28123290070428-How-to-use-
Bark: how Bark screens leads (SMS code, filters) help.bark.com/hc/en-gb/articles/26980550854940-How-Bark-sc
Bark: credit returns for invalid numbers, 14 days help.bark.com/hc/en-gb/articles/19262438332060
hipages: lead review within 7 days (TradieCore docs) hipagesgroup.github.io/tradiecore-public-documentation/Con
hipages: up to 3 businesses per lead (hipages reply on Trustpilot) de.trustpilot.com/review/hipages.com.au?page=9
hipages plan and lead prices (third-party comparison) tradespro-live.pages.dev/compare/
ServiceSeeking: pay per lead membership from $75 a month (ProductReview reply) productreview.com.au/listings/serviceseeking-com-au/q-and-
Angi: lead credit rules intercom.help/angi/en/articles/11403440-how-to-request-a-l
Angi: CEO note, maximum 5 pros per request intercom.help/angi/en/articles/10274582-a-note-from-angi-c
Thumbtack community: weekly budgets community.thumbtack.com/discussion/comment/6493/
QuoteWizard lowers maximum agents per auto lead to 4 insurancenewsnet.com/press-releases/QuoteWizard-Lowers-Max
Boberdoo: how leads match to buyers boberdoo.com/how-leads-match-to-buyers
Boberdoo: buyer system (wallet, caps, returns) boberdoo.com/buyer-system
Boberdoo: distribution by price tiers boberdoo.com/lead-distribution-by-price
LeadExec: ping-post explained leadexechelp.clickpointsoftware.com/en/articles/15634591-p
LeadExec: return reasons leadexechelp.clickpointsoftware.com/en/articles/6150181-re
LeadConduit (ActiveProspect): validation and consent add-ons activeprospect.com/leadconduit-overview/integrations/?type
GitHub: lead-routing-engine, a small open-source ping-post example github.com/adilKhan72/lead-routing-engine
MIT / InsideSales lead response study (2007) mortech.com/hs-fs/hub/25649/file-13535879-pdf/docs/mit_stu
ASIC 26-270MR, warning to licensees using lead generators asic.gov.au/about-asic/news-centre/find-a-media-release/20
ACCC unsolicited selling report coverage (Insurance Business) insurancebusinessmag.com/au/news/breaking-news/comparison-
ASIC Professional Register: Clark Family credit rep 401491 and AFS AR 1298860 (screenshots in the report folder) moneysmart.gov.au/professional-register

Not tested: form steps after step 1, as we didn't submit any forms

To confirm: real conversion rates and FSO lead prices