Alphabet, the parent company of Google, saw its medical stop-loss insurance business grow "nearly sixfold" last year, tech news site The Verge reported Feb. 2.
The business, called Granular, provides medical stop-loss coverage to employers and is a subsidiary of Verily, Alphabet's life sciences business.
Verily is the largest Alphabet subsidiary after Google itself and more than doubled its revenue last year — Granular was the largest contributor to that growth, with its revenue increasing "nearly sixfold through the first nine months of last year to $151 million, from $27 million a year earlier,” the report said, citing tech news outlet The Information.
The reason for Granular's success is unclear but The Verge reported that it may be because of the access to Google's data capabilities or better rates overall.