Alan went to Singapore's Temasek fund to conclude its fourth round of financing. This should enable Alan to strengthen its offering and expand into other countries.
Alan aims to launch in Europe
Insurtech Alan was founded in 2016 by Jean-Charles Samuelian and Charles Gorintin to offer a human-centered service. While its offering was initially aimed at the self-employed, by 2019 the startup had expanded its market to include individuals, pensioners, civil servants and hotel and catering companies, and now covers 76,000 members and 5,000 companies.
In addition to registration in just a few minutes, Alan promises its customers "no more running after information". Users who choose not to connect their Social Security office to the mobile application can be reimbursed simply by sending the bill digitally from a computer or telephone. In case of doubt, questions can be asked via the chat facility, with answers provided within 48 hours.
On April 20, the start-up announced that it had raised 50 million euros from Temasek, the Singaporean fund that recently acquired a stake in Manomano, and Index Ventures. Since its launch, Alan has raised a total of 125 million euros, a record for a French insurtech. This round of financing will enable the company to accelerate its development in Europe. Alan, which has already opened new offices in Spain and Belgium, plans to set up operations in most European countries over the next 5 years.
New healthcare services based on simplicity
Very active during the Covid-19 pandemic, the insurer launched new services including a program giving access to a telemedicine service, a symptom detector and stress management tools. The end of the health crisis will lead to "a much faster digital transition than has been the case to date", say Alan's founders in a press release.
Alan has set itself the target of 500,000 members within 3 to 4 years. To achieve this, the company is counting on the deployment of its offer abroad, but also on increasing the number of services available via its application. In addition to access to telemedicine via a partnership with LIVI, members will soon be able to search for available healthcare practitioners near them using Alan Map, or find out about various health topics by visiting a site similar to the one set up for the coronavirus.
The startup's challenge is to democratize the dematerialization of health insurance, while creating a simplified, transparent customer experience.