<strong>Who We Are</strong>

Who We Are

Concordia Exchange is an insurtech company that partners with insurance brokers of organizations with more than 50 employees who want to reduce their employee group insurance costs. Through our online reverse auction platform, insurance carriers bid against each other creating more competition, providing transparency, and supporting compliance for organizations to save money on one of their highest fixed costs. 

The Problem

The current, paper-based, Request for Proposal insurance process does not provide the competition or transparency to ensure organizations are receiving the lowest pricing for their group insurance benefits.


Higher Costs & Less Value

Benefit costs continue to increase, becoming one of the highest fixed costs for organizations with no assurance they receive the best value.

Manual & Lengthy

The group benefit RFP process is labor-intensive and time-consuming while not driving the most competitive rates.

Market Consolidation

Mergers and acquisitions have increased competition between brokers, making it more difficult for brokerages to offer differentiated services and value.

Are You Paying Too Much For Health Insurance?

245%

Family premium increase since 2000 versus 61% inflation

$22,342

2021 Average annual premium for family coverage

2x

Health spending by families over wages in the last decade

Our Value

Our unique auction platform and proprietary decision-making algorithm provide a market disruptive technology. Our solutions replace the current paper-based RFP system with a transparent and competitive platform that saves money and streamlines the group benefit procurement process offering unparalleled value.


For the Client

Cost savings, process transparency, carrier-neutral, auditable, decision-making support, and pooling for more competition and better rates

For the Broker

Reduced workload, streamlined operations, competitive differentiation, decision-making support

For the Carrier

Lower customer acquisition costs, access to a larger and motivated customer base, reduced sales expenses, platform with fair competition, access to market data

 Carriers Compete and Organizations Save





We were honored to be selected as the winner of the Cornell University Executive MBA Business Pitch Competition in 2021.