Alan - 2022 Q3 Letter to Shareholders

• Building a new category: one-stop health partner
• Flywheel 1️⃣ : Insurance
• Flywheel 2️⃣ : Health services

• We acquire customers at a fast pace, in different industries (Retail, Hospitality, Wholesale, Manufacturing, Tech) and of all sizes.
• We acquire them at a price which is in line with the market, we are not cheaper. It is our differentiation that makes our success. On the other hand, we see more and more competition forced to sell at an unsustainable loss to keep customers.
• Thanks to our experience, our customers stay with us.

• “During Covid, Alan scored a lot of points because it was not easy for our employees to communicate about their medical anxieties. Your online services were very helpful to our employees. You fell right into it.”
• "We chose Alan because the price was more attractive than our previous health insurance provider [...] I didn't know that health services were available with Alan, I didn't see anything on the website. You should explain that Alan is not a regular health insurance"
• "Alan je vous aime, vous me remboursez vite, vous m'expliquez tout, vous avez une application claire et facile d'utilisation, vous me permettez de voir des medecins en ligne gratuitement et rapidement, merci, vous m'avez reconcilliée avec le fait de m'occuper de ma santé ❤️" (App Store, 23/06/22)
• "Surtout avec les enfants, c’est super de pouvoir discuter rapidement avec un professionnel, ça évite de se déplacer pour pas grand chose parfois ! Je recommande sans hésitation :)" (App Store, 27/08/22)

France 🇫🇷

Supporting profitable growth

• We have strengthened our value proposition (in particular for large and very large companies)

  • The "digitally-challenged members" now have access to an education system before and after sign-up to make sure they can use our tools
  • Our app is becoming available in English 🇬🇧
  • We are enhancing our customer support with a callback option either initiated by one of our user care experts or directly by some admins or members for specific cases.
• We revamped our website resulting in a c.80% increase of the self-serve funnel conversion rate
• We keep transforming how “Prévoyance” claim management is done in a delightful way

Scaling our operational model

• Our admins and members are becoming more autonomous

  • Members are more autonomous to understand their overpayments
  • Admins have now a clearer guide to setup their DSN (standardised process to transfer key payroll information about the employees to public administrations and insurance companies), check status, and fix missing payroll issues thanks to DSN section revamp on Admin dashboard
• We have continued empowering our customer support through:

  • An improved contact experience
  • The automatic detection of some specific payroll tools widely used by small companies (TESE) which will prevent manual actions on our side.

Belgium 🇧🇪

• Strong performance from our Sales team, who all reached or surpassed their Q3 targets.
• We signed our very first franchise network with a lot more potential for 2023 in this specific segment
• We have very high demand for Mental Well-being

Spain 🇪🇸

• We launched our book, Healthy Business, in Spanish.

• We signed our first contracts with Alan Fresa, our new health plan which is very innovative for the Spanish market
• We closed our biggest customer to date with 1.8k employees.
• We increased online booking availability (+450 agendas / 7% increase vs. last Quarter) and reduced error rates.
• We improved our dental offering.

Health Partner Experience

• We revamped our app onboarding so members experience personalized health services faster when starting with Alan.
• After setting up their insurance, they now complete a prevention assessment survey on medical checkup history, stress, diet, sleep and physical activity.
• This triggers personalized health reminders and puts them in touch with a dietician, psychologist or physiotherapist, as relevant.

Mental Well-being

Products improvement

• We made a tailored prevention plan at company level based on a wellbeing assessment conducted across all employees
• We build digital manager trainings on workload, uncertainty, team work, work life balance and harassment.
• We are launching a series of MasterClass featuring leading athletes about holistic health and performance.

Clinic

• The Clinic platform runs across our France, Belgium and Spain apps, with over 75+ health professionals chatting (1k conversation a week) and running video calls (100 a week) with members
• Satisfaction with our health team across specialities (psychology, dermatology, physiology, nutrition, sleep, sexology, new: back pain) remains high across both chat and video sessions (>4.5/5).

Clear

• We reached our 900th order this month. The first 100 were submitted in 78 days and the last 100 were submitted in 24 days.
• Members can now find a personalized selection of glasses, based on their face shape in the Alan app, to offer an even more tailored experience.

Flywheel 3️⃣ : Alan as a Service

Team

• We hired 29 people during Q3 and are now 526 Alaners. We are in line with our staffing plan.
• Our hires over Q3 are balanced equally between Operations, Product and Growth
• We keep increasing our overall talent density and attracting top talent such as Anna Keroullé, John McDonald, and Vincent Lambert. More announcements to come!

Macro context and future

• 1️⃣ Execute our plan to achieve our ambitious End of Year targets (both growth and margin) through acquisition and renewal
• 2️⃣ Mental Well-being: focus on the technical foundations (dashboard, onboarding, adoption) so we can accelerate product differentiation in 2023
• 3️⃣ Plan for 2023 with a focus on investing in innovation and product development.