I apologize if I misunderstood your post. You say that the CPA (Cost Per Acquisition) is $250. Since CPA is used to determine the cost of acquiring a paying customer, am I to understand that the insurance agent pays you $250 only when they sell a policy? If so, that’s a huge USP (Unique Selling Proposition) and I would be advertising that as much as I could if I were you. However, if the $250 is the cost of a lead, then the CPA isn’t $250, unless the agent’s closing ratio is 100%.
Regarding my opinion on lead programs in general, you need to go after newly licensed agents. Established agents get most of their new clients through client referrals. They cost nothing and have a very high closing ratio. New agents don’t have any clients to service so they spend all of their free time buying insurance leads. New agents also have the lowest closing ratio because of their inexperience so they don’t want to spend more than they have to buying leads. If I owned an insurance lead generation company, I would create tons of resources (white papers, PDFs, infographics, webinars, etc.) to assist agents on improving their sales closing ratios and provide these resources free to anyone paying for my lead generation services. That way the prospective client (the insurance agent) knows that my purpose is to help them grow their business, not just sell them leads. I believe that you may be able to covert more prospects into clients that way.
Lastly, not all leads are equal. I would pay $250 to write an auto policy, a home policy, and a personal umbrella policy for a family of 4 with 4 cars. I wouldn’t pay a dime to write the insurance policies for a bachelor with 1 car that rents an apartment. The family client will stay with me for years (and their children will become my clients); the bachelor client will shop around with other insurance agents in 6 months. That is why most insurance agents buy home insurance leads, then cross sell the auto insurance (Renters aren’t looking for home insurance).
I hope that this helps, and good luck!