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Alphabet's Verily launching commercial insurance unit

Credit: REUTERS/MIKE BLAKE

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

Aug 25 (Reuters) - Alphabet Inc's GOOGL.O 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)

((munsif.vengattil@thomsonreuters.com;))

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