Verily, a subsidiary of Alphabet Inc. specializing in precision health, has sold its insurance arm, Granular, back to Swiss Re. This move comes as Verily undergoes significant restructuring and refocuses on its core areas of expertise.
Verily , a subsidiary of Alphabet Inc. known for its work in precision health , has recently sold its insurance arm, Granular , to Swiss Re . Launched in 2020 with financial backing from Swiss Re 's commercial insurance unit, Granular offered a range of services including medical stop-loss, fronting reinsurance, and fronting solutions. Verily highlighted the use of 'proprietary technology' in its offerings.
This sale marks a significant shift for Verily, which has undergone several transformations since its inception. Initially conceived as a project within Alphabet's innovation lab X (formerly Google X) in 2015, Verily initially focused on developing hardware such as continuous glucose monitors. However, the company pivoted its focus to pandemic response during the Covid-19 outbreak in 2020. In 2022, Verily shifted gears once again, concentrating its efforts on precision medicine. Its current foray into metabolic health exemplifies this new direction. The company will support patients utilizing GLP-1 medications, continuous glucose monitors, or other interventions through this initiative.The sale of Granular comes amidst a series of changes at Verily, including the departure of former FDA official Dr. Amy Abernethy, who joined the company in 2021 and left in late 2023. Verily's evolution highlights the company's adaptability and its commitment to exploring new frontiers in healthcare
Verily Alphabet Swiss Re Granular Precision Health Insurance Metabolic Health GLP-1 Medications Continuous Glucose Monitors
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