Verily, Google's health-focused sister company, is getting into insurance

Verily Life Sciences, the health care company owned by Alphabet, is getting into insurance, the company announced today. Verily is launching a new subsidiary for the effort called Coefficient Insurance Company, which will be backed by the commercial insurance unit of Swiss Re Group. Coefficient plans to offer stop-loss insurance. The explanation for stop-loss is a little technical, but it boils down to this: Employers that pay for employee health claims out of pocket buy stop-loss insurance. Onc...