InsurTech profile: Alan - the health insurance innovator
Alan was founded in 2016. In the four years since, the organisation has revolutionised the health insurance sector by placing customer-centricity and a price-quality ratio health plan at the heart of its proposition.
The business was borne out of an idea to create an innovative health insurance platform for individuals and companies. It’s aim is to make healthcare simpler, smarter and better for all.
Removing complexity with technology
Alan is 100% digital. This use of advanced technology is designed to remove some of the complexity and opacity that often exists around insurance policies.
The company uses technology to offer its members the best prevention, access to information and care, while handling all of the logistics and payment aspects in a seamless fashion.
In August last year, Alan announced new products, international expansion plans and a refresh of its brand - this was alongside plans to revamp the company’s tech stack in order to improve user experience further.
At that time, CEO and co-founder Jean-CHarles Samuelian said: “Our users are smart. We already had users for all products that we’re launching today but they were working around the rules.”
Those new launches included insurance products for the hotel and restaurant sectors. These, it was announced, allow companies to sign up to insurance directly from Alan’s mobile app for ease of use.
For hospitality customers Alan offers two tiers of insurance: basic coverage for 30 euros per month and a better package for 55 euros per month.
The business also confirmed a range of insurance products for individuals - previously it had worked with businesses and freelance workers.
At the launch announcement, Samuelian confirmed that Alan’s mission is “to be more than a health insurance company, we want to be your health ally”.
With that in mind, the company is scoping out international expansion, particularly other European countries such as Spain and Belgium.
It was reported at the time by TechCrunch that Alan was in the process of developing its technology.
This was centred around collaboration with a third-party payments and reimbursements handling company.
It was also reported that Alan was developing its own payment system. TechCrunch said that up to 30% of the company’s engineering team was working on the development, with the goal of making payments up to 10 times quicker.
Tribe and APOLLO announce national insurance campaign
Tribe Property Technologies in partnership with APOLLO insurance has announced a national insurance campaign to digitise insurance for condominium owners, renters, landlords, and developers across Canada. The aim of the campaign is to make insurance access easier and faster for owners while improving the coverage and protection of condominiums and rental buildings.
According to several surveys, nearly half of 4.5mn rented houses in Canada do not have tenant insurance protection, meaning those individuals and their families are put at risk of fire and water damage.
What does the national insurance campaign include?
According to Tribe, the company is working with APOLLO to ensure that this type of insurance is easier to access. It aims to achieve this by introducing a direct connection to APOLLO's insurance technology from both Tribe's strata and condo management platform and rental software to allow for increased education and awareness for owners into insurance risks and options.
It also includes the future ability for notifications for mid-term cancellations, and plans to offer protection from potential strata/condo corporation deductibles, Tribe said.
"We are excited to partner with APOLLO to bring accessibility, visibility, and education around insurance options to our communities and reflect the current lifestyle expectations of condo owners and residents while protecting the value of their biggest assets", said Joseph Nakhla, Chief Executive Officer of Tribe.
Nakhla added: “This agreement with APOLLO is just the first step under our Digital Services & Partnerships revenue pillar. We will continue to layer on services to drive revenue for Tribe, and bring convenience and savings for our users, with the goal of being able to offer a one-stop-shop to our development partners and the over 100,000 residents in Tribe-managed communities”.
APOLLO uses technology as a channel between insurance brokers, carriers, and their mutual clients, offering insurance options from multiple companies on one integrated online platform.
"We like that Tribe is taking a fresh approach to condo living and building smart homes through tech-enabled service, and an integration with their Community Platform supports our goals of making insurance more accessible and supporting the needs of communities”, said Jeff McCann, Chief Executive Officer of Apollo.