Health insurance startup Alan keeps growing at a rapid pace

Including 700,000 customers, Alan Can be considered as a mature organization. However, the health insurance company that wants to be a digital partner for your health is still growing like startup.

On Wednesday, the company shared some financial metric. One of the most impressive one is to earn the top-line. In 2024, the company earned € 505 million (about $ 525 at today’s exchange rate).

However, Alan can be difficult to compare with a simple tech startup because the startup is an insurance company. It supplies a health insurance product that complements France, Spain, Belgium and National Healthcare System Soon in CanadaThe

Alan’s co-founder and CEO Jean-Charles Samuelian-Werov said at a press conference, “The model is the same: we have aimed for a Breakven’s claim-to-premium ratio, including membership fees from 12% to 14%.” In other words, most parts of Alan’s income can be considered as insurance premium, Alan has cut 12 to 14% for additional service and management fees.

If you want to compare Alan to a software-hesitate-council company, Alan’s rear calculation Alan is € 60 million to € 70 million annual repeated revenue ($ 62 million to $ 73 with $ 73 million to $ 70 to $ 70 Alan will rank millions with millions of dollars).

However, startup – valuable $ 4.5 billion – Still losing money. In 2021, Alan registered $ 54 million in 2021 ($ 56 million and $ 61 million, respectively) in 2021.

“We ensure that we announced last year of earning profit by 2026,” said Alan Chief Financial Officer Mihela Albu.

Although the company is not making any profit yet, the good news is that its distribution technique is well scale. In 2024, the Alan team only increased 8% and the sales team was less stable.

In France, the company won the tender for government employees. In Belgium, it has signed a strategy partnership with Belfius, the second largest bank in the country and insurance company. Balfius is now in the investor in Allan and Alan’s products are about to distribute to its own customers.

Disrupt the health insurance market with AI

Just as Last yearArtificial intelligence often comes during the press conference. Alan’s chief revenue officer, Ludovic Bupley, says the sales team has increased its results by about 50% for the use of artificial intelligence in the sales process.

“Operational, we have been able to spend customer service expenses. In the direction of the product, we have accelerated the manufacturing our code and the way we test the unit, “Samuelian-Werov says.” In marketing, it is quite amazing how much we have accelerated the production of resources and videos, reduce the cost of increasing quality and increasing performance dramatically. “

Subsequently, Alan plans to increase the total income by 5% in 2021 compared to 2021. 1 million of the company should reach the last customers in early 2026. Should be handled without any manual input at the end of the year.

The company also used Wednesday’s press conference as an opportunity to announce its health insurance offer for retired people in France. According to the agency, there are 750,000 new retirement in France every year. So it will help when it comes to growth.