After F funding round of 173 million euros, Alan's valuation now stands at 4 billion euros.
Belfius Bank has announced a strategic partnership with Alan, a European leader in health tech. Simultaneously, Belfius makes a significant investment in Alan's latest Series F funding round of 173 million euros.
This move aligns with Belfius's broader ambitions to revolutionize the banking and insurance sectors by integrating cutting-edge artificial intelligence (AI) technologies, enhancing employee wellbeing, and addressing key challenges in mental health and absenteeism.
Strategic partnership with Alan to improve workplace health
Mental health and absenteeism are growing issues for businesses, with burnout cases rising by 43 percent in Belgium between 2017 and 2022. In response, Belfius is going beyond traditional insurance offerings, partnering with Alan to deliver innovative solutions that promote workplace wellbeing.
Alan, known for its holistic health approach, combines health insurance with preventative care focused on mental health and physical activity. Through AI-driven services and a dedicated app, Alan offers Belgian companies a comprehensive solution to support their employees' health and productivity.
The partnership will provide businesses with services such as instant chat access to doctors, psychologists, and health experts, video consultations, personalized prevention plans, and fast reimbursement of medical expenses - processed within 72 hours via AI. Larger companies will also have access to tools for anonymous reporting and surveys to gauge and improve team wellbeing, all supported by expert recommendations.
This collaboration allows Belfius to offer Belgian businesses a powerful tool to enhance employee wellbeing, reduce absenteeism, and stand out in a competitive labor market.
Belfius becomes a shareholder in Alan
Alongside the commercial agreement, Belfius has become a shareholder in Alan, joining renowned investors such as OTPP, Temasek, Coatue, and Lakestar. Alan's valuation now stands at 4 billion euros, solidifying its position as a leading player in health insurance across Europe.
Jean-Charles Samuelian, CEO of Alan, expressed enthusiasm for the partnership, noting that Belfius's investment will accelerate Alan's development and extend access to advanced health products and services. Samuelian highlighted a shared vision with Belfius of transforming workplace health, stating, "Our partnership will positively reshape Belgium’s healthcare system, benefiting both companies and employees."
Expansion plans in Belgium
Alan also plans to expand its operations in Belgium, with over 25 new hires to support its growth. This partnership is part of a larger effort to redefine standards for workplace health and wellbeing, aiming to create a healthier and more successful future for Belgian businesses and their employees.
Belfius and Mistral AI: Innovating customer experience
In addition to its investment in Alan, Belfius is also deepening its engagement with AI through a strategic partnership with Mistral AI, a French startup specializing in generative AI models. Belfius aims to harness the potential of AI to improve customer experiences by developing a new digital assistant for its mobile app. This assistant, set to launch in 2025, will use Mistral’s AI technology to offer enhanced, personalized services to over 2 million active Belfius Mobile users.
Marc Raisière, CEO of Belfius, emphasized the transformative power of AI in both banking and insurance sectors, stating, "By combining Alan’s advanced technology with our innovative drive, we are investing in the happiness, productivity, and growth of what matters most - people."
These partnerships with Alan and Mistral AI highlight Belfius’s commitment to leveraging AI and health tech to benefit its customers and society at large, positioning itself as a leader in digital innovation in Belgium.
