Gaya Hidup Miscellaneous

Alphabet’s Verily Is Getting Into Insurance

It’s launching a new subsidiary, Coefficient

Verily Life Sciences, the health care company owned by Alphabet, is getting into insurance, the company announced today. Verily is launching a new subsidiary for the effort called Coefficient Insurance Company, which will be backed by the commercial insurance unit of Swiss Re Group.

Coefficient plans to offer stop-loss insurance. The explanation for stop-loss is a little technical, but it boils down to this: Employers that pay for employee health claims out of pocket buy stop-loss insurance. Once they hit the predetermined point of money they pay for their employees’ health, the stop-loss insurance company pays the rest.

Insurance is something of a departure for Verily. A previous project from the company is Project Baseline, a massive medical study to better understand the human body. Project Baseline is also the banner Verily has used for its COVID-19 screening website, which President Donald Trump incorrectly said was backed by Google in March. Verily has also made a health-tracking smartwatch intended to be used for research studies.

But Verily CEO Andrew Conrad is reportedly divisive within the company and impulsive about what projects Verily takes on. And it’s been unclear how Verily would make money, despite its lofty goals. (Alphabet doesn’t typically break out Verily’s financials, but Alphabet’s Other Bets category, of which Verily is a part, had an operating loss of $1.1 billion last quarter.)

Insurance could be a more reliable source of income for Verily, as the company’s history in technology and health care could make the new Coefficient subsidiary an intriguing partner for insurers. For example, Coefficient claims its “analytics-based underwriting engine” will help employers better understand risk that they’re taking on. And down the line, Coefficient wants to integrate Verily tech to help employers better control their costs.

Many insurance companies already give customers rewards if they hit goals set by wearable devices in exchange for sharing their data. That data is valuable to insurance companies so that they can know whether or not they are paying too much to cover an individual. Verily’s tech could help insurance companies triage even more data to offer specific types of policies for certain people.


86 Replies to “Alphabet’s Verily Is Getting Into Insurance

  1. Having read this I believed it was rather enlightening. I appreciate you taking the time and energy to put this informative article together. I once again find myself personally spending a lot of time both reading and leaving comments. But so what, it was still worth it!|

  2. Do you mind if I quote a few of your articles as long as I provide credit and sources back to your webpage? My blog site is in the very same niche as yours and my visitors would definitely benefit from a lot of the information you provide here. Please let me know if this alright with you. Thanks!|

  3. Hey I know this is off topic but I was wondering if you knew of any widgets I could add to my blog that automatically tweet my newest twitter updates. I’ve been looking for a plug-in like this for quite some time and was hoping maybe you would have some experience with something like this. Please let me know if you run into anything. I truly enjoy reading your blog and I look forward to your new updates.|

  4. 701279 903541An attention-grabbing dialogue is worth comment. I believe that it is very best to write extra on this topic, it wont be a taboo topic even so normally individuals are not sufficient to speak on such topics. To the next. Cheers 788442

  5. Hi there! I simply wish to offer you a huge thumbs up for your great info you’ve got right here on this post. I will be returning to your website for more soon.|

Leave a Reply

Your email address will not be published. Required fields are marked *