Mantissa recently reviewed a Life PAS offering from Penn River (http://www.pennriver.com). And while CIO’s consistently note that there has not been a new offering in the Life Insurance PAS space in the recent years, we were pleasantly surprised with our Penn River system demo.
The platform is off to a good start: we have found a platform that is expertly architected by senior technicians who have prior experience building PAS systems. Penn River is born in the cloud (not retro-fitted) using AWS. The platform comes with Fixed and Variable Annuities built into the solution (UL products are next), and has a powerful Product Workbench that allows user friendly product deployments. The configurators allow for easy integration with 3rd party systems for new business, illustrations, and compensation systems, which is a must for modern solutions.
For a CIO, this is a company and platform to watch and have on their radar. Mantissa intends to do a more detail analysis of the platform in early 2020 and will publish a report for our CIO clients. But for now, we believe Penn River is off to a great start!