France’s insurtech unicorn Alan enters the Canadian market with cost-effective, digital group health insurance for tech startups and small businesses.
After disrupting the European health insurance market, Alan, the French insurtech unicorn, is now setting its sights on Canada, bringing digital group health insurance to tech startups and small businesses.
Breaking the Mold: In Canada, just a few large companies control most of the health insurance market, often charging exorbitant fees for basic coverage. Mark Goad, Alan’s General Manager for Canada, shared his frustration with this oligopoly, pointing to the similarity to other industries where Canadians are overcharged, such as telecommunications and banking. “It’s time to bring competition to the Canadian health insurance landscape,” Goad said.
Revolutionizing Group Health Insurance
Alan’s approach is simple, efficient, and digital. Unlike traditional insurers who rely on brokers, phone calls, and hidden fees, Alan offers a fully online platform that allows businesses to purchase and manage group health insurance in just minutes. The company’s tech-driven platform eliminates the need for lengthy paperwork and reduces fees, charging just 15 percent—half of what incumbent insurers typically charge.
Affordable Plans for Startups and Small Businesses
Alan’s product offering includes three types of plans, each catering to the needs of small businesses and tech startups:
- Prescription coverage
- Dental care
- Paramedical services
These plans start as low as $86 CAD per person per month, with the most popular plan priced at $100 CAD per person per month. Currently available in Ontario and Alberta, the company is poised to expand into British Columbia and Québec pending regulatory approval.
A New Player in the Canadian Market
Having secured a licence from the Office of the Superintendent of Financial Institutions (OSFI), Alan is Canada’s first new health insurance carrier in nearly 70 years. The company’s entry into the market is expected to disrupt traditional insurance models and provide a more accessible and affordable alternative for businesses.
Alan’s goal is clear: to offer flexible, digital health insurance options that are affordable and simple to access, making it easier for companies to provide essential coverage to their employees without the hassle of traditional insurance practices.
The Future of Health Insurance in Canada
Alan’s bold move into the Canadian health insurance market signals a new era of competition, transparency, and affordability. By prioritizing digital solutions and reducing the cost of coverage, Alan is positioning itself as the go-to choice for startups and small businesses looking for efficient and affordable health insurance solutions.
Stay tuned to Maple News Wire for more updates on Alan’s Canadian expansion and other tech-driven innovations in the insurance sector.
