Alan, the health insurance startup that’s redefining how we think about healthcare, is showing no signs of slowing down. With a whopping 700,000 customers, it’s easy to assume they’ve already "made it." But nope—this ambitious company is still growing like a fresh-faced startup.

In 2024, Alan hit a major milestone, raking in €505 million in revenue (about $525 million). While that’s impressive, it’s important to note that Alan isn’t your typical tech company. Instead of selling software, they offer health insurance plans that work alongside national healthcare systems in France, Spain, Belgium, and soon Canada. Think of it as a digital health companion that takes a 12-14% cut from premiums for added services and management fees.

Now, here’s the kicker: despite their massive growth, Alan isn’t profitable yet. Last year, they reported a net loss of €54 million, slightly better than 2023’s €59 million. But the company is optimistic, aiming to reach profitability by 2026. As for scaling, they’ve kept their team growth steady, with only an 8% increase in 2024.

What’s driving this growth? Smart partnerships and AI. In France, Alan secured tenders for government workers, and in Belgium, they teamed up with Belfius, the country’s second-largest bank and insurer. Belfius even invested in Alan and will distribute its products to its own customers. Oh, and let’s not forget AI—Alan’s sales team saw a 50% boost in results thanks to AI tools, and they’ve slashed customer service costs while speeding up production.

Looking ahead, Alan plans to grow total revenue by another 40% in 2025 and expects to hit one million customers by early 2026. They’re also launching health insurance plans for retirees in France, tapping into a market of 750,000 new retirees annually.

Alan’s journey is far from over, but one thing’s clear: they’re shaking up the health insurance world—one AI-powered step at a time.