The full year results for 2009 are in, and they reflect the continued decrease in top line for both property/casualty and life & annuity insurers. In P&C, net written premiums dropped 3.7%, and life premiums and annuity considerations were reduced by slightly less than 5% over 2008 levels (excluding outlier results from two companies).
This underscores the importance of distribution management. The last Celent report on the topic, "Distribution Management Systems Review: A Bigger Piece of a Smaller Pie,” November, 2009, noted a convergence in vendor offerings between commission systems and recruiting/training/licensing solutions. The next step in this evolution should be to apply the considerable expertise and process built for customer relationship management (CRM) to producers in an integrated approach—producer relationship management (PRM).
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