Healthcare DIVE February 7, 2025
The deal could signal that Elevance wants to build out its commercial products to hedge against volatility in Medicaid and privatized Medicare plans.
Dive Brief:
- Verily, the life sciences arm of technology giant Alphabet, has reached a deal to sell its insurance subsidiary to Elevance, the payer confirmed to Healthcare Dive on Friday.
- The subsidiary, called Granular Insurance Company, provides stop-loss insurance for employers meant to protect them from catastrophically high medical costs.
- Terms of the deal were not disclosed.
Dive Insight:
Verily, one of Google’s sister companies under Alphabet, launched Granular in 2020. The company, then called Coefficient Insurance Company, offers self-funded employers stop-loss insurance, along with reinsurance and other data-driven risk management products.
A spokesperson for...
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