November 24, 2022
  • November 24, 2022

Verily and Swiss Re expand their strategic relationship

By on September 29, 2022 0

SOUTH SAN FRANCISCO, Calif.–(BUSINESS WIRE)–Verily and Swiss Re today announced that they have entered into a transaction whereby Swiss Re has exchanged its investment in Granular Insurance Company (“Granular”) for an equity interest in Verily. Granular is now 100% owned by Verily.

“During our two-year relationship, we were able to show Swiss Re our vision for how Verily can impact precision health,” said Andy Conrad, CEO, President and Founder of Verily. “We welcome Swiss Re and its expertise to our group of investors who see the potential for Verily to impact the broader healthcare ecosystem.

Swiss Re is one of the world’s leading providers of reinsurance, insurance and other forms of risk transfer and insurance solutions. In 2020, she made a minority investment in Granular, an insurer that offers self-funded employers a data-driven approach to help them manage risk, cost and achieve better results. Swiss Re will no longer be a direct shareholder of Granular, nor directly involved in its operations. Both Granular and Swiss Re remain independently engaged in the Employer Stop Loss segment in the United States.

“We are delighted to expand our strategic relationship with Verily,” said Christian Mumenthaler, CEO of Swiss Re.Our positive experience working with Verily over the past two years has given us confidence in expanding the relationship into new potential areas of innovation in life and health.

About Verily

Verily is an Alphabet subsidiary that uses a data-driven, people-driven approach to changing the way people manage their health and the way healthcare is delivered. Launched from X in 2015, Verily’s goal is to bring the promise of precision health to everyone, every day. Verily focuses on generating and activating data from a wide variety of sources, including clinical, social, behavioral and real-world, to arrive at the best solutions for a person based on a complete view of proofs. Verily uses its proven expertise and capabilities in technology, data science and healthcare to enable the entire healthcare ecosystem to achieve better health outcomes. For more information, please visit verily.com.