Verily, the life sciences arm of Alphabet, plans to divest its stop-loss insurance unit, Granular, as part of a strategic pivot towards artificial intelligence and reducing unnecessary projects. CEO Stephen Gillett announced the acquisition deal with Elevance Health, emphasizing the benefits Granular will gain from Elevance’s resources and expertise in the insurance domain. Granular, which specializes in providing financial risk management solutions for self-funded employers using data science, was launched in 2020 and represents a strategic asset in the insurance market.
Verily has entered an agreement to sell its stop-loss insurance subsidiary, Granular Insurance Company, to Elevance Health, confirming the ongoing shift in their business strategy.
This acquisition marks a significant step for Granular, leveraging Elevance's capabilities to enhance its growth and provide better solutions for financial risk management.
Collection
[
|
...
]