South San Francisco – March 15, 2021 – Coefficient, the precision risk company created by Verily, reported today that its previously announced transaction, which included an investment by Swiss Re Corporate Solutions, has successfully closed. In addition, the company concurrently unveiled a refreshed brand and company name, Granular Insurance. The new company name and associated brand capture the unique values of the company’s precision risk business model and the “granular” framework for predictability over the multi-year relationships it facilitates.
"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," said Denny Weinberg, Chief Executive Officer of Granular Insurance. "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."
"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."
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.
About Granular Insurance
Granular Insurance provides self-funded employers and other health care stakeholders with a new data-informed coverage model called precision risk that is intended to better manage risk volatility, more effectively balance insurance and self funded costs and achieve more predictable business outcomes. Investors in Granular Insurance are Verily Life Sciences LLC and Swiss Re Corporate Solutions, the commercial insurance unit of the Swiss Re Group. To learn more, visit granularinsurance.com.
Public Affairs and Communications,
Verily Email: firstname.lastname@example.org