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With 700,000 customers, now It can be considered a mature company. But the health insurance company that wants to become a digital companion for your health is still growing like a startup.
On Wednesday, the company shared some financial measures. The most impressive is its highest revenue. In 2024, the company achieved revenue of 505 million euros (about $ 525 at a exchange rate today).
But Alan’s comparison can be difficult to start regular technology because the startup company is an insurance company. It provides a health insurance product that complements the national health care system in France, Spain and Belgium and Canada soon.
“The model remains the same: We aim to obtain the claim of claims for the claim, with organic fees ranging from 12 % to 14 %,” Jin-Charles Samuel and Wraffian said at a press conference. In other words, the vast majority of Alan’s revenues can be considered insurance premiums, as Alan obtained a reduction from 12 to 14 % for additional services and management fees.
If you want to compare Alan with a software company as a service, a little account to subscribe first will rank first from Alan as 60 million euros to 70 million euros of repeated annual revenues ($ 62 million to $ 73 million).
However, the start starting – value in 4.5 billion dollars – He still loses money. In 2024, Alan recorded a net loss of 54 million euros, compared to 59 million euros in 2023 ($ 56 million and $ 61 million, respectively).
“We confirm the goal that we announced last year about making profitability by 2026,” said Alain’s financial director Melia Albou.
Although the company is not yet profitable, good news is that its distribution strategy is well expanding. The Alan team grew by only 8 % in 2024 and the sales team more or less.
In France, the company won tenders for government workers. In Belgium, a strategic partnership with Belvos, the second largest bank and insurance company in the country. Belvos is now an investor in Alan and will distribute Alan products to their customers.
Disable the health insurance market with artificial intelligence
Only like last yearArtificial intelligence often came during the press conference. Ludovic Paulil, the chief revenue official in Alan, said the sales team had increased its results by 50 % thanks to the use of artificial intelligence in the sales process.
“From a operational point of view, we were able to reduce customer service costs. On the side of the product, we accelerated our code production and the way we do unit tests.” “In marketing, it is actually surprising how widespread us from producing assets and videos, which reduces costs with a significant increase in quality and performance.”
After that, Alan plans to increase the total revenue by another 40 % in 2025 compared to 2024. The company must arrive to be dealt with without any manual inputs by the end of the year.
The company also used the press conference on Wednesday as an opportunity to announce health insurance offers for retired people in France. According to the company, there are 750,000 new retirees in France every year. So this will help when it comes to growth.
