Paris-based Startup, Alan Raises Another $45 Million for Its Health Insurance Product
This second round of funding was lead by Index Ventures.
Located in Paris, Alan recently became the first company in 30 years to obtain a license to operate as a health insurance company in France. The company is looking to create a transparent health insurance product that will be delivered to consumers as a software-as-a-service / Health services offering.
The company hopes to make its product available to the rest of Europe in the near future. Alan, before this recent round, lead by Index ventures, completed a $25 million funding round 10 months ago, which was also lead by Index with other investors.
Some other investors betting on the success of the company are Portag Ventures, which has also invested in other insurance technology firms and Partech which focuses on global tech startups.
Alan was founded in Feb. 2016 by Jean-Charles Samuelian and Charles Gorintin. The inspiration for Alan came from the founders’ frustrations with existing healthcare services. Coming from a family of doctors, Samuelian grew up thinking of ways to improve healthcare, and became particularly motivated when his grandfather was diagnosed with cancer and he encountered firsthand information mismanagement and the complexity of the health system.
The first milestone was reached in October 2016 when Alan got the license to become an insurer in less than 8 months after the company’s set-up. Alan was the first new independent insurance to get a licence in France since 1986.
Since then, Alan launched a fully digital health insurance for companies from 1 to 200 employees (Oct. 2016), a health insurance for freelancers (Mar. 2017), a disability insurance (“prévoyance”) for companies (Aug. 2017), all focused on building a great experience for users while providing a great health protection. In August 2016, Alan was the only insurance to grow its guarantees and low its prices for all its users!