Dear Alan friends and investors,
2022 has been a challenging year with war in Europe, high inflation, energy shortages, a spiraling cost of living for our members, and for the healthcare system. We stopped counting the number of articles about how much our system is collapsing.
At Alan, we believe we can help support and improve our health system. We believe in a future where being in good health is more intuitive than scrolling on TikTok and where healthcare goes from reactive to preventive.
Our relentless focus on improving health & prevention for members and companies continues to pay off. Despite the context, in 2022 we have managed to:
We believe that such results in such economic conditions, underscores our anti-fragility, and the strength of our model. Despite these great steps, we are still only at the beginning of revolutionizing healthcare and we will continue innovating for our members and corporate customers.
If the context has been changing, our mission remains the same: making personal, proactive and holistic health part of people’s daily lives. We are striving to be the world’s most member-centric healthcare company.
We closed 2022 with a fortress balance-sheet that allows us to invest countercyclically in our product and team (when others are contracting and laying off).
This year, we have validated many assumptions of our model:
We closed 2022 with 7.3k members, representing year-on-year growth of 283%.
We saw very positive market signals:
By internalizing disability claims, developing our own optic shop with Alan Clear, and receiving the disability license as part of our corporate reorganization, we kept innovating to increase the scalability of our model, while also expanding the strategic cards we have at our disposal.
The team reached 520 Alaners at the end of 2022; 92 people more than at the start of the year. Talent density and diversity has kept increasing this year and makes us extremely confident in the current team to deliver on our ambitious plans.
Since Q4 2022:
It is satisfying to see more momentum around the thesis we defined 7 years ago of building a digitally native payor and provider of healthcare services with the best user experience (see The Biggest Company in the World by a16z).
To do so, we have designed our product organization with two goals in mind:
We released the English version of the mobile app in France. This is an important boost for the thousands of members — especially in the hospitality and tech segments — working in France without speaking the language.
We made the insurance card now available in the iOS Wallet: We have automated the treatment of our osteopath invoices with artificial intelligence, allowing for delightful instantaneous reimbursements for our members. We can now process more than 70% of those in just fractions of a second.
We revamped the sessions experience in Alan Mind to make it easier for members to to find experts by better highlighting specialities (coaches or therapists).
We launched Meditations on Alan Mind. It’s the second most popular wellness technique for our members (after physical exercise). We further improved our offer range of glasses on Alan Clear and introduced a “solar clip” to appeal to a wider public, and help more and more members take care of their eyesight, at a lower cost.
We introduced a new prevention tab, showcasing how Alan can help across 15 health stories including diet, stress, sleep, physical activity, dental care, and skin care, to help members take care of their health in a proactive way. Our continued efforts to polish members’ experience led to an overall ⭐️5/5 rating in the France iOS app store.
We released a new dental experience in Spain 🇪🇸 to improve access to great dental care for our members and we kept improving the clinic, with now 77% of all psychology consultations handled by our own clinic and rated at an impressive 5/5.
We launched a video consultation service with GPs in Belgium 🇧🇪 to keep reinforcing our one stop health partner approach and delivering exceptional value to our members.
We simplified the onboarding: Companies of 70+ employees can now onboard everyone to Alan with bulk invitations. It massively reduces the operational burden of our customers.
We rolled out cover by default: All large companies now have “cover by default”, to increase compliance while significantly decreasing the operational load on HR admins.
We improved the training dashboard, to allow employers to invite their managers to a dashboard with training materials. It extends our footprint with managers and the value they can get from Mind while respecting data privacy constraints. We enabled companies with 50+ employees to autonomously trigger a wellness assessment and prevention plan with a tailored audit and action plan.
And the above was only for the Q4 of 2022. If you want to have a look at the full year, he is a presentation of some of our key features launched (in French):
In 2023, after almost 7-years of operations, our strategy has never been as crystal clear.
We have the tools, tech, and talent to help millions of people in their health and well-being journey while being self-sufficient and profitable.
It translates into two main objectives:
1️⃣ Leading the one-stop health partner category
2️⃣ Increasing operating leverage
We have enough capital to reach break-even in 2025 and the market-depth allows us to keep growing at 40% year-on-year both profitably and sustainably for a very long-time.
At Alan, we are only at the very beginning of building one of the “biggest company in the world” in a self-sustainable way.
It is so exciting to have the keys to drive towards our future together.
Thank you for supporting us.
Jean-Charles for the Alan team.