Overview
Penn River is a Native Cloud Life and Annuity software company. We offer two products. 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 without replacing their current systems. Our policy admin platform is designed with pre-built functionality that is flexible, extendable, transparent, verifiable, and maintainable (simple and concise) and comes bundled with ProductHub.
Key Features
Supports Life and Annuity new business and post issue processing. The platform is developed in native Cloud technology and can be run on any public or private cloud platform.
Key Benefits
Penn River is an innovative Cloud Life and Annuity admin platform addressing the frustrations with the current solutions. Penn River is promising to future proof companies admin platforms. Key differentiators include:
- Simple configuration with little to know coding for fast time to market.
- Low cost upgrades with each new generation of the platform. This has not been the case in the industry to date.
- Compatibility with any other carrier on the platform even if they are on a separate instance with a different support team. Blocks of policies can be sold within the eco system without the need for a conversion.
- Platform would be ideal for new green field opportunities or any company looking to modernize their environment.
- Looking to become the platform of choice for converting old blocks. Once on the platform there would never be a need to convert again.
- Platform is low cost and partner friendly designed to give companies choices.
- Built and supported by industry experts who have developed multiple platforms and put all that learning into Penn River.
ProductHub comes bundled with Penn River PAS and has the following features:
- Enable the roll-out of innovative products faster
- Reduce costs & Improve reuse
- Enable Collaboration
- Project Visibility through dashboards across functional silos
- Provide flexibility and capitalize on ability to clone, and reuse core products
- Version Control of Product Specs to maintain a Gold Copy
- Extensive ability to model and test all requirements with full traceability to third party platforms such as illustrations, new business, and administration
- Compliment rather than replace existing your core systems
- Easily move product configuration from one environment to another
- Ability to manage and test conversions