Alan desires to show medical health insurance into software-as-a-service
Okay, my headline is a bit provocative, nevertheless it’s type of true. French startup Alan is launching right now a model new full-stack medical health insurance firm in France. In comparison with current merchandise, Alan desires to make the expertise a lot sleeker. Right here’s the way it works.
The corporate simply raised $13 million (€12 million) from CNP Assurances, Energy Monetary, Partech Ventures and enterprise angels. Alan isn’t only a fancy front-end or a dealer for Axa or Allianz. The startup manages every thing. It has labored with regulators to change into an official medical health insurance firm.
And that is no small feat because it’s the primary new medical health insurance firm in 20 years. Alan has a easy providing and goal corporations instantly.
In a couple of minutes, you’ll be able to signal as much as Alan and canopy all of your workers for €55 per 30 days per worker. American readers will discover this quantity loopy low, nevertheless it’s on par with opponents in France. Alan doesn’t attempt to undercut the competitors. As an alternative, you get good protection for a median worth.
It’s also possible to select to cowl your companion and kids on Alan for and extra €55 per grownup and €40 per baby. The startup is concentrating on small corporations and startups at first. Sooner or later, Alan can also be fascinated by letting freelancers join.
And it didn’t take a lot to make Alan extra interesting than current medical health insurance corporations. Alan permits you to join on the net. The HR division can then entry a dashboard the place they will handle protection for his or her workers.
The staff can even entry Alan’s dashboard to submit reimbursements, add their companion on their well being plan and get extra particulars about their protection earlier than going to the dentist for example. Whereas many medical health insurance corporations are caught within the 20th century, Alan operates as a contemporary internet service.
Alan will add a map with docs and costs round you to be able to know for certain that you just’re absolutely coated. I believe it may be an excellent alternative to combine with different companies, corresponding to Doctolib, to be able to ebook an appointment from Alan’s dashboard. And why not work with Payfit as nicely to make it simpler to enroll to the 2 companies.
Whereas medical health insurance isn’t attractive, it may be a really profitable market. French corporations at the moment are required to supply a medical health insurance plan to all their workers and pay for at the least 50 p.c of the premium — in order that’s tens of tens of millions of potential prospects.
Alan has labored on its plan for months and has simulated years of reimbursements to know that it’s a viable enterprise mannequin. Medical health insurance corporations in France don’t have large margins. The massive ones preserve providing plans as a result of they produce other extra profitable insurance coverage merchandise.
If Alan can automate many various steps and preserve a low headcount, a younger startup like this one might nonetheless compete with the massive opponents on the market.