- Lemonade (NYSE:LMND) falls 6.5% after much larger insurer Chubb (CB +0.4%) ramps up its digital offerings with the launch of Blink by Chubb.
- The first Blink product, now available in 25 states, is personal cyber protection.
- The new line of products is clearly intended for the younger consumers that Lemonade also targets as Chubb says the customizable coverage "is crafted for consumers who are just beginning to identify their insurance needs and for those who know exactly what coverages they want."
- "Blink will appeal to consumer-savvy companies looking to create added value and increase customer loyalty through an insurance offering backed and sold by an industry leader like Chubb," said Laura Bennett, senior vice president of eConsumer for Chubb in North America.
- To put LMND's stock movement in perspective, shares have soared 128% in the past six months; meanwhile, CB has risen 40%, both outpacing the S&P 500's 15% increase.
- SA contributor Gary Alexander sees plenty more room for LMND to drop. Meanwhile, Wolf Report, after poring through Chubb's financials, prefers to wait.
