Alain can be considered a mature company due to 700,000 customers. However, a health insurance company that wants to become a digital companion for your health is still growing like a startup.
On Wednesday, the company shared several financial indicators. The most impressive is the profits of the top line. In 2024, the company generated a profit of € 550 billion (about $ 525 at today's exchange rate).
However, since the startup is an insurance company, it may be difficult to compare Alan with a normal high -tech startup. We offer health insurance products that complement France, Spain, Belgium, and the Canadian national medical system.
“This model remains the same. We are aiming for a claim ratio at the junctional point at the membership fee and 14 % of the membership fees,” said Alan's co -founder and CEO Jean Charles Samurrian Welve. I mentioned at a press conference. In other words, most of Alain's revenue could be considered insurance premiums, and Alain received 12-14 % reduction with additional services and management fees.
If you want to compare ALAN with a software company as a service, a small amount of envelope is ranked in Alan as a startup of € 60 million to € 70 million in annual income ($ 62 million to $ 73).
However, a 4.5 billion dollar startup still has lost money. In 2024, Alan registered a net loss of € 54 million compared to $ 59 million in 2023 ($ 56 million and $ 61 million).
“Last year, we will confirm the goal of announcing that it will achieve profitability by 2026,” said Alan's Supreme Finance Officer, Michela Albu.
The company has not made a profit yet, but the good news is that its distribution strategy is expanding well. Alenteams grow only 8 % in 2024, and the sales teams are more or less stable.
In France, the company won the bidding of government workers. In Belgium, he signed a strategic partnership with the second largest bank and insurance company, Belfius. Belfius is currently an Alan investor and will distribute Alan products to their customers.
Confirm the health insurance market with AI
As with last year, artificial intelligence frequently appeared during the press conference. Ludvich Boplay, the highest revenue officer of Alain, said that the sales team used artificial intelligence in the sales process, which increased the results by about 50 %.
“In operation, we have reduced customer service costs. The product side has accelerated code production and unit testing methods,” says Samuelian-Werve. “In marketing, we are actually increasing quality and performance while accelerating the production of assets and videos, reducing costs.”
Next, Alan plans to increase the total revenue by 40 % in 2025 compared to 2024. The company should reach 1 million end customers by the beginning of 2026. Of course, 40 % of customer support requests are more automated. It must be processed without manual input by the end of the year.
The company also used a press conference on Wednesday as an opportunity to announce health insurance offer for retirees in French. According to the company, France has 750,000 new retirees every year. Therefore, this is useful for growth.