Alan - 2020 Letter to Shareholders

In October 2020, we published our Q3 2020 letter to shareholders. It is important for us, to be transparent with our investors and the community.

Please find below the email we sent to our investors following the fourth quarter of 2020. We slightly edited it to remove sensitive information.

This blogpost also allows us to make the point with you on the year passed. Have a good reading and feel free to share your feeling with us 😉


Dear Alan friends and investors,

For many people, 2020 has been tough on both personal and business levels. On our side, we’re very proud of the work we have achieved at Alan as we come out of this year stronger than ever.

In this turbulent context, our fundamental approach has remained the same: delight our customers every day and focus on the long term.

Alan’s achievements in 2020

📈 1. Our growth

We have grown +105% to 138K members which is 99% of our objective. By the end of the year, our Fully Loaded ARR reached €90m.

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In 2020 one of our strategic priorities was to successfully penetrate the “very large” segment. And during the course of the year, we successfully signed our first very large companies (5k employees), as well as our first franchise restaurants. All of these successes are very promising first steps for the future.

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💪 2. Our Sales & Marketing organization

Our sales & marketing organization has matured by an order of magnitude from one year ago.

  • The sales productivity has increased by 15% despite the two lockdowns. We have proven our ability to be very productive on small businesses (c. 100 won deals per FTE on average)
  • The organization is strong and ready to scale (senior profiles to lead the teams, lead gen reached their objectives, KPI and tools proved their effectiveness), with a good talent density.

We built a pricing engine and a product builder that allows us to price almost any product in less than 1 minute (compared to c. 1 week for competition). Previously we had 4 products. Now we are able to build an unlimited number of products, virtually and in real time.

We witnessed the first positive impacts of the “cancellation at any time” law (the share of business we signed in Nov/ Dec in 2020 in SMEs was 25% higher than in 2019 and we signed 250 employees in the first week of Jan).

🛠️ 3. Internalisation of our operations

Moving 100% of our members on to our internal systems was a big bet and made a huge difference in terms of experience and scalability. We now reimburse c. 75% of claims within 1 hour. It was 80% within 4 days in January 2020.

💚 4. We radically improved the experience of admins

The NPS for admins has increased from 73 to 78 (NPS for Hotels, Cafes & Restaurants is at 82). Capture d’écran 2021-01-26 à 23.08.45

We have launched features such as the new dashboard, insight platforms, integration with payroll systems, better disability policy management on “work stoppage”, friendlier and email-less onboarding flow, group views, etc.

⚡ 5. Our proactivity facing the pandemic

Unlike many companies, we did not simply adapt to COVID-19, we were proactive. We implemented a lot of innovative solutions to keep our individual and business members both safe and delighted.

We remained their trusted health partner through the crisis by:

  • Adding Covid-19 self-test experience in the app
  • Adding access to a psychological support hotline
  • Sourcing masks for our clients
  • Providing relevant content about the pandemic and related health impacts

🏆 6. Our relentless focus on members' experience (NPS is at 73).

Delighting our members has always been our very first priority at Alan. In 2020 we made a huge step towards members’ delight.

We have continued to create an amazing product providing a delightful experience that goes far beyond just being an insurance company. We’ve been focused on always more simplicity, transparency and personalization for members, with features such as: a total revamp of our mobile app with a new homepage, the personalized proactive care reminders in feed, the In-Progress care events tracker, and the new Health Journal with care events that automatically include the information of the health professional visited.

🤩 7. The extremely low churn rate as a result of this focus

Our low churn rate is further evidence of the delight Alan brings to Admins. On average c. 98% of our customers (companies) renew every year.

⚕️ 8. Our move towards becoming the healthcare super-app

Our mission is to become the healthcare super-app that offers personalized access to delightful information, proactive care, care delivery, and post-care whether it is digital or physical. Alan is the first place people turn to for all of their healthcare and wellbeing needs. And we have made a huge step in this direction this year. Capture d’écran 2021-01-26 à 23.11.38

We launched medical chat (with our own doctors) answering questions from members and communities, leading to an increased use of service up to 10k members per month (more than x2.5 over the year).

Let’s take the example of parents:

  • We are supporting them from the birth of their children with tailored content such as relevant articles and we enable them to reduce their anxiety, breastfeeding, and managing sleep.
  • By providing proactive care such as timely notification and reminders we assure them never to miss an important step for their children’s health.
  • Then, when they need to find a good pediatrician, they have just to open the Alan Map and we point them to the best doctors close to their location.
  • After the appointment, they use the Alan App to take a picture of their invoice and to be reimbursed in less than an hour without human intervention.
  • If they have any questions after the appointment, they can launch the Medical Chat, and send their question to the doctor, their privacy being protected by end-to-end encryption.
  • They can then share their parenting experiences and learn from others by opening the Alan app and become active members of the Alan Community.

🌎 9. Our European development

Launched during Q4’20, both Spain and Belgium are showing strong early signs of product market fit with 120 and 370 employees respectively (excluding dependents). It was a major bet, and a really hard one to pull off. We are happy with the traction we are getting, and we learned a lot since the launch 4 months ago that will enable us to accelerate growth during 2021.

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🧒👨 10. Our strong and healthy organization

An increase in the tempo & velocity of our product organization (+16 product launches in Q4 2020)

  • A resilient organization: internalization of financial production, security, privacy, knowledge, solvency…💪
  • More secure and trustworthy organization 🔐 : with a lot of work on our security policy, protection of Data, etc. For instance, all messages between members and doctors are end-to-end encrypted.
  • 276 amazing Alaners (more than +100 in 2020) with a high talent density of smart, humble, diverse and nice people, who embody our culture like never before. Very few companies manage to grow at this pace and keep this level of cohesion.
  • With extraordinary senior Alaners joining us in 2020 or signed for 2021: Diane Rivière (People), Gabriel Hubert (Product), Aurélie Fliedel (Marketing), and a few others we will announce soon!

Alan in 2021

In 2021, the main focus of Alan is the growth of our core business (B2B health insurance) in Europe.

1. B2B members growth in France

  • Expand our addressable market 3x through: insurance products adapted to each market segment, differentiating admin-related features and pricing models
  • Extract further growth from our core market
  • Continue deeper penetration of the large and very large companies segment
  • Expand into new segments: specifically Retail, Wholesale and Manufacturing
  • Scale our operational model through more automation and more autonomy for our customer admins and members, while keeping a delightful service.

2. International

  • Further invest in Spain and Belgium as a priority to transition from initial product-market fit to scaling up
  • Further invest in our tech and ops platform to enable scaling in Belgium and Spain, and facilitating additional country openings

3. Alan Baby

  • We are very proud and very excited about launching our first free product for new parents: Alan Baby. Thanks to the amazing work that has been accomplished, we will be able soon to fully support new parents during the first years of their parenting journey.
  • We do believe that thanks to this free product, we will become the trusted partner of the European parents.
  • What is to be found within the app:
    • Highly tailored content for your baby development and healthcare, including articles, pro-active reminders, and best practices from other parents.
    • Content and features to improve your baby’s sleep (and yours at the same time 😉)
    • Free and unlimited access to the medical chat, where a doctor answers all your questions about your baby’s health.
    • Communities’ group chat with other parents, monitored by doctors in order to strengthen your knowledge about your baby health and development.
    • A lot of delightful surprises to come...

Want to know more about it? 🤔 Come and download the app on the Apple Store on exclusivity and be the first ones to test it! 😉

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We are at the very beginning of our journey. We want to be the place where every European (and then globally) access their own, personalized, healthcare. Our goal is to be at every step of their interaction with the system and to delight them at each step. The task at hand is big and challenging. We will keep innovating in building new products, iterating on our distribution and business model to reinforce our flywheel.

2021 is a very important step in that journey, and we have never been so confident of our chances to profoundly transform the way people interact with our health & well-being.

Thanks to you all for being part of Alan.

I wish you all the best for 2021,

Jean-Charles Samuelian-Werve, CEO @ Alan

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