Our Story

In early 2015, the Private Exchange Coalition (PEC) was formed by five industry-leading private exchange technology vendors as a means to promote shared industry standards and best practices, and increase awareness of the powerful ways private exchanges improve the selection, administration and use of employee benefits. The PEC emerged from the belief that private exchanges and their underlying technology platforms possess the capabilities to revolutionize the way employer-sponsored group insurance benefits are marketed, offered and purchased.  

Our Purpose

Against the backdrop of health reform – and with shared goals to eliminate waste, provide greater transparency and increase accessibility to health insurance and other benefits – the PEC aims to help establish private exchanges as a long-term solution for enabling consumers to easily evaluate and select employee benefits that best meet their health care, economic and lifestyle needs.The PEC will be a catalyst for bringing best in class e-commerce solutions to the employer-sponsored insurance market, which will ultimately lead to more informed, satisfied and healthier health care consumers.

 

Our Approach

The PEC is unique in that it was created by private exchange technology vendors and actively seeks to engage market participants who have a shared interest in advancing the health insurance market. In essence, the PEC is the only group that gives companies who have direct experience building and operating private exchanges a shared voice. The PEC’s collaborative approach allows private exchange vendors, as well as other representatives from the industry, to join together to promote awareness of the value and shape the future direction of private exchanges.