Alphabet’s Verily launching commercial insurance unit

(Reuters) – Alphabet Inc’s life sciences division Verily on Tuesday launched a new subsidiary offering commercial insurance products, backed by reinsurer Swiss Re Group.

Verily’s Coefficient Insurance Company will help self-funded employers to control cost volatility in health benefit claims through a data-driven model, the company said.

(Reporting by Munsif Vengattil in Bengaluru)