Sep 22, 2020
NEWTON SQ, PA, September 22, 2020 -- Penn River is pleased to announce its strategic partnership with Mantissa Group for an industry first introduction of its ProductHub platform. Recognizing that the product development process is the heartbeat of all Life and Annuity companies, a service offering, and software solution is being introduced into the marketplace in an area where no other solutions exist. Designed for heads of product development, the solution solves for decreased time to market, reduced cost of implementation and ongoing servicing, and reduction of operational risk. A complete process review of the product develop lifecycle is initiated and improvements will be institutionalized with the implementation of ProductHub.
ProductHub is an industry first 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. "I am excited to be part of this unique offering” said Don Desiderato, CEO, Mantissa Group. "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."
“In my career as CIO, I became frustrated with the inefficiencies of the product development process and decided to form a world class team to design a fit for purpose solution for this unmet need,” said David Shaw, Co-CEO of Penn River. I am incredibly happy to be partnering with Mantissa on this market leading introduction of Penn River ProductHub.
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.
About Penn River
Penn River is an Insurtech startup founded in May 2016 and has developed ProductHub as well as a new Policy Administration System (PAS) for the US Life and Annuities Insurance Company marketplace. Their leadership team and key employees had previously contributed to the development of other platforms in the Life PAS space. For more information please contact Penn River at email@example.com.
Mantissa Group is a management consulting company designed to serve business and technology executives. Mantissa supports the Chief Information Officer and their leadership teams with highly integrated services focused on targeted research, strategic consulting, and executive and leadership coaching. For more information please contact Mantissa Group at firstname.lastname@example.org.