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Alphabet’s Verily launching commercial insurance unit By Reuters

© Reuters. FILE PHOTO: A 3D printed Google logo is seen in this illustration taken

(Reuters) – Alphabet Inc’s (O:) life sciences division Verily on Tuesday launched a new subsidiary offering commercial insurance products, backed by reinsurer Swiss Re (OTC:) 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.

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