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.
New York, NY – December 18, 2020 – Kroll Bond Rating Agency (KBRA) assigned an insurance financial strength rating (IFSR) with a Stable Outlook to Coefficient Insurance Company (Coefficient or CIC). Coefficient is a recently established accident and health insurer that will focus on the employer stop-loss (ESL) market.
Oldwick, New Jersey – October 23, 2020 – AM Best has assigned a Financial Strength Rating of A- (Excellent) and Long-Term Issuer Credit Rating of “a-” to Coefficient Insurance Company (headquartered in South San Francisco, CA) (Coefficient). The outlook assigned to these Credit Ratings (ratings) is stable.
Columbus, Ohio – Oct. 8, 2020 – Coefficient Insurance Company, a subsidiary of Verily Life Sciences, an Alphabet company, has earned a Financial Stability Rating® (FSR) of Aʺ, A Double Prime, Unsurpassed, from Demotech, Inc., the first rating agency to review and rate independent, regional, and specialty carriers.
Coefficient established to help employers realize greater value through “Precision Risk,” a new data-driven solution to employer stop-loss insurance. Verily, an Alphabet company, is announcing a new subsidiary, Coefficient Insurance Company, that will be backed by Swiss Re Corporate Solutions, the commercial insurance unit of the Swiss Re Group. Coefficient will combine innovative health technology solutions with novel insurance and payment models. Its Precision Risk solution helps self-funded employers to control cost volatility through a data-driven model that is unique in the traditional employer stop-loss market. Employer stop-loss is a segment of commercial insurance that protects self-funded employers from unexpected and large employee health benefit claims by reimbursing employers for claims above a defined amount.