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Came across a TechCrunch article about an insuretech startup in France. Surprise surprise - bypasses agents. At least they didn't name it Oscar.
Here are a few details…
French startup Alan is launching today a brand new full-stack health insurance company in France.
Alan isn’t just a fancy front-end or a broker for Axa or Allianz. The startup manages everything. It has worked with regulators to become an official health insurance company. And this is no small feat as it’s the first new health insurance company in 30 years.
Alan has a simple offering and target companies directly. In a few minutes, you can sign up to Alan and cover all your employees for €55 per month per employee. American readers will find this number crazy low, but it’s on par with competitors in France. Alan doesn’t try to undercut the competition. Instead, you get good coverage for an average price.
The startup is targeting small companies and startups at first. Alan lets you sign up on the web. The HR department can then access a dashboard where they can manage coverage for their employees. The employees can also access Alan’s dashboard to submit reimbursements, add their partner on their health plan and get more details about their coverage before going to the dentist for instance.
French companies are now required to offer a health insurance plan to all their employees and pay for at least 50 percent of the premium. Alan has worked on its plan for months and has simulated years of reimbursements to know that it’s a viable business model. Health insurance companies in France don’t have big margins. The big ones keep offering plans because they have other more lucrative insurance products.
https://techcrunch.com/2016/10/24/alan-wants-to-turn-health-insurance-into-software-as-a-service/
Here are a few details…
French startup Alan is launching today a brand new full-stack health insurance company in France.
Alan isn’t just a fancy front-end or a broker for Axa or Allianz. The startup manages everything. It has worked with regulators to become an official health insurance company. And this is no small feat as it’s the first new health insurance company in 30 years.
Alan has a simple offering and target companies directly. In a few minutes, you can sign up to Alan and cover all your employees for €55 per month per employee. American readers will find this number crazy low, but it’s on par with competitors in France. Alan doesn’t try to undercut the competition. Instead, you get good coverage for an average price.
The startup is targeting small companies and startups at first. Alan lets you sign up on the web. The HR department can then access a dashboard where they can manage coverage for their employees. The employees can also access Alan’s dashboard to submit reimbursements, add their partner on their health plan and get more details about their coverage before going to the dentist for instance.
French companies are now required to offer a health insurance plan to all their employees and pay for at least 50 percent of the premium. Alan has worked on its plan for months and has simulated years of reimbursements to know that it’s a viable business model. Health insurance companies in France don’t have big margins. The big ones keep offering plans because they have other more lucrative insurance products.
https://techcrunch.com/2016/10/24/alan-wants-to-turn-health-insurance-into-software-as-a-service/
