Swiss Re Corporate Solutions, the commercial insurance arm of reinsurer Swiss Re, has completed an investment transaction in Granular Insurance Company, a precision risk company created by Verily.
Verily is the life sciences and healthcare subsidiary of Alphabet, the parent of Google.
Granular Insurance, which was previously called Coefficient Insurance Company, provides self-funded employers and other health care stakeholders with a data-informed coverage model to help manage risk volatility.
“Granular Insurance aligns with our goal to use data and technology to address industry inefficiencies and improve the customer experience,” said Ivan Gonzalez, CEO North America Swiss Re Corporate Solutions. “We’re excited to be a part of this collaboration and advance employer stop-loss together.”
Denny Weinberg, Chief Executive Officer of Granular Insurance, also commented: “We’re thrilled to officially welcome Swiss Re Corporate Solutions as a strategic investor as we enter this next chapter of the company’s growth.”
“The initial precision risk solution launch already supports employers with a combined enrollment of well over 100,000 consumers, a number we expect to grow significantly over the coming months.”
In connection with this investment, Ivan Gonzalez, and Linda Mantia, former EVP of Manulife Financial Services and Royal Bank executive, have joined the Granular Insurance Company Board of Directors, which is chaired by Vivian Lee, MD, President of Health Platforms, Verily.
