Insurtech Startup Penn River Teams Up With Mantissa Group to Launch ProductHub Platform

Penn River, a U.S. insurtech that’s focused on cloud-based annuity and life administration, announced on Tuesday it has joined forces with management consulting company Mantissa to launch its ProductHub platform. Penn River describes ProductHub as a solution that provides as much as a 30% reduction in time to market, and as much as a 25% reduction in carrier product development costs.

ProductHub, fully manages the product development and implementation process, built from the ground up on a native cloud technology stack and design. The solution solves a problem that plagues every Life and Annuity insurance company – the complexity of the product development process.”

 Don Desiderato, CEO, Mantissa Group spoke about the platform by stating:

“Digitizing the product development process with such a comprehensive technology solution is not only long overdue but sorely needed – benefitting both heads of product development and CIO’s architecting their modernization journeys.”

Founded in May 2016, Penn River explained that its platform is designed with pre-built functionality that is flexible, extendable, transparent, verifiable, and maintainable. The company developed ProductHub as well as a new Policy Administration System (PAS) for the US Life and Annuities Insurance Company marketplace.

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