Alan, the 100% digital insurtech

Alan is a French fintech that has chosen to address specific needs. Considered as an “insurtech”, it offers to different types of companies and self-employed people, services that greatly facilitate the administrative management of their employees’ health insurance.

Alan : How does the insurtech works?

To discover Alan’s offers, you will first have to indicate your type of company: SME, Independent, Large Company and finally Hotel. After selecting the number of employees, this company will be redirected to a page summarizing the relevant services offered by Alan for its employees.

The procedure for confirming your registration with Alan is as follows:

The inevitable creation of an Alan account
After choosing a start date, Alan will take care of terminating the client’s current insurance
An online contract signature is available to the customer, always with the aim of making the registration quick and frictionless
The company will only have to invite its employees by sending them the welcome kit including the Alan

Alan will provide its users with a complete management interface accessible via smartphone. Users will be able to track their reimbursements, schedule an appointment with a Fintech partner doctor and even access meditation programs.

Alan guarantees reimbursements for all types of care. The Fintech specializing in health insurance thus aims to take full charge of all the elements hindering a company, which will have other priorities than managing its health insurance system.

Numbers and substantial fundraising

Created in 2016, the “neo-insurer” Alan has experienced a rapid rise boosted as it often is by various fundraising events. In its first year of existence, it first raised €12 million in October 2016.

It was in 2018 that Alan carried out its first major fundraising, which at the time was the largest in the French insurtech sector. With an amount of 23 million euros, it allowed the French fintech to capture more corporate clients and develop its business.

Alan will continue to benefit from raises at a fairly regular pace: a new one will be made with Index Ventures in February 2019 for €40 million. In April 2020, Alan will make a new fundraising of €50 million from Temasek, the Singaporean sovereign wealth fund.

Exactly one year after this last round, Alan will benefit this time from a huge amount of 185 million euros, still from Temasek but also from Dragoneer, Exor and Coatue Management. This substantial fundraising will help propel Alan to the rank of French unicorn, these famous companies being valued at more than one billion euros, all without being listed on the stock exchange. In 2021, Alan was valued at 1.4 billion euros.

In nearly 6 years of existence, the French insurtech has posted good figures for its activity:

14,000 corporate clients for 270,000 unique members
More than €140M in annualized revenues
An investment of more than 300 million euros since its creation

In barely 6 years, Alan has managed to propel itself to the coveted rank of unicorn and prove the relevance of its offers. The insurtech sector is still rather discreet, but no doubt that other Fintechs will look into the subject as Alan’s success is so resounding.