Posted on Jan 20, 2021 1:45 PMUpdated Jan 20, 2021, 1:56 PM
Jean-Charles Samuelian, the boss and co-founder of Alan, readily concedes it. The year 2020 was “Non-standard”. But, for now, the health insurer has weathered the health and economic crisis without too many problems. The young shoot claims to have experienced growth of 105% last year and reached 90 million euros in revenue.
The Parisian company claims 140,000 members and with 8,300 client companies. “We are proud because we have reached new market segments, such as nursery networks or restaurant franchises. We have also signed with increasingly large companies, including two with more than 5,000 employees ”, says Jean-Charles Samuelian.
More difficult in Belgium and Spain
The company did not hesitate to recruit either: it has gone from 160 to 274 employees in the last twelve months. Insurtech was also pleased to have maintained a rapid level of reimbursement. “We maintained a level of reimbursement for our members in less than an hour in 75% of cases”, insists the boss. The only downside: the company has not achieved the objectives it set for itself in Belgium and Spain, where it launched in 2020.
Since its founding, Alan has diversified a lot to become the main gateway to manage his daily health needs. But the nugget does not want to stop there: it announced Tuesday the launch at the end of January of a new free feature for parents, called Alan Baby.
“We think that the arrival of a child in a family leads to completely rethinking the relationship to the health system”, specifies Jean-Charles Samuelian. “It’s a lot of questions, stress and information that sometimes overtakes people”, continues the entrepreneur, who himself became a dad in 2020.
Alan Baby launch
Alan Baby users will be able to ask doctors questions about their child’s health in a chat, or chat with other parents about issues they are having. The application will also offer content adapted to the baby’s age. Insurtech hopes to convince Alan Baby users to purchase his health insurance. Ultimately, other thematic applications should follow. “We want to make Alan a personalized health partner for everyone”, observes Jean-Charles Samuelian.
The company, which indicates that its insurance product is profitable, wants to continue to grow and has indicated that it is in discussions with investors for the next round. It could occur this year or at the beginning of 2022 and be twice as high as the previous one (50 million euros), said Alan’s boss. The nugget aims for profitability in France within 2 to 3 years, and within 4 to 5 years on other European markets.