Alan's Growth in the Insurance Market

Alan, a French insurance unicorn, has secured a significant €173 million (around $193 million) in Series F funding, led by Belfius, one of the largest banks in Belgium.

• This investment marks a major milestone for Alan, further solidifying its position as a leading player in the European insurance market.
• The funding round also saw participation from existing investors, including Ontario Teachers’ Pension Plan, Temasek, Coatue, and Lakestar.

Alan's Innovative Approach to Insurance

Alan's success stems from its unique approach to health insurance, offering a user-friendly and streamlined experience compared to traditional insurance providers.

• The company has automated key aspects of claim management, making the process more efficient and accessible for customers.
• Alan's mobile app provides a comprehensive suite of health-related services, including doctor consultations, prescription ordering, and preventive care content.
• The company has leveraged AI to enhance its productivity and optimize its insurance offerings.

The Partnership with Belfius

The strategic partnership with Belfius goes beyond financial investment and encompasses a distribution agreement.

• Belfius will offer Alan's health insurance products to its extensive network of corporate and institutional clients, potentially reaching millions of employees.
• This partnership provides Alan with a significant opportunity to expand its customer base and reach new markets.

Alan's Financial Performance and Growth

Alan has demonstrated impressive growth, with over 500,000 people currently covered by its insurance products.

• The company has achieved profitability and is projected to reach €450 million in annual recurring revenue this year.
• Alan's continued expansion reflects its strong market position and the demand for its innovative insurance solutions.

Alan's Impact on the Belgian Insurance Market

The partnership with Belfius signals Alan's ambition to disrupt the Belgian insurance market, bringing its innovative insurance model to a wider audience.

• Alan's entry into the Belgian market is expected to increase competition and drive innovation in the insurance industry.
• The company's focus on user experience and digital accessibility aligns with the evolving demands of modern customers.