Paris, 25 October 2016
On the occasion of a fund-raising operation totalling €12 million, CNP Assurances took a stake in Alan, the first independent insurance company launched in France since 1986. Alan offers start-ups and SMEs top-up health insurance with direct subscription that is 100% online. Following those in Lendix and H4D, this is the third investment of the Open CNP programme.
As part of Open CNP, CNP Assurances is continuing its programme to invest in and partner with innovative start-ups, and is pleased to announce today that it has taken a stake in Alan. Alan is the first independent insurance company to set up in France in the last 30 years. Its ambition is to develop health insurance in France by concentrating on the customer experience, long-term care and the deployment of value-added digital services. For a flat rate of €55, Alan offers start-ups and SMEs top-up health insurance with direct subscription that is 100% online. It takes less than five minutes to sign up on the website.
The leading investor in this €12 million fund-raising operation, alongside Power Financial of Canada, Partech Ventures and individual entrepreneurs, CNP Assurances plans to support the development of this start-up and will also be its leading re-insurer. Hélène Falchier, head of private equity at CNP Assurances and CEO of Open CNP, is joining Alan's board of directors.
CNP Assurances is ranked as one of the world's top 50 institutional investors for unlisted funds. This long-standing relationship with the world of private equity enables the Group, as France's top insurer, to naturally identify innovative start-ups and, with Open CNP, to financially support their growth while developing mutually rewarding partnerships. With funding of €100 million to be allocated over five years, Open CNP is focused on companies in similar fields of activity to those of CNP Assurances: e-health, fintech, insurtech, development of offerings and technologies that meet today’s needs for personal protection, etc. In 2016, Open CNP has already conducted two transactions: Lendix in April, and H4D in September.
“We are delighted to contribute to the launch of Alan, the first independent insurance company to set up in France in the last 30 years, and to become its leading re-insurer. Supporting the development of this 100% online start-up on the top-up health insurance market as part of the Open CNP programme falls wholly within the digital development of the CNP Assurances group”, commented Frédéric Lavenir, CEO of CNP Assurances.