With a market cap of $2 billion, Lemonade had traded at about eight times its annual sales. Most traditional insurers, like Allstate and Travelers, trade at around one multiple of the year’s sales. The price-to-sales ratio for Lemonade is seemingly reasonable relative to its growth expectations. Since it went public a couple of years ago,…
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2021 has been momentous for deals. From AT&T’s media businesses merger with Discovery, Kansas City Southern railroad’s takeover and Square acquiring BNPL company Afterpay, global deals are on a roll. Transactions are expected to top $5 trillion this year. All this, while the pandemic is rising again, the global economy is still flaky, and developed…
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Volkswagen says more than 3.3 million customers had their information exposed after one of its vendors left a cache of customer data unsecured on the internet. The car maker said in a letter that the vendor, used by Volkswagen, its subsidiary Audi, and authorized dealers in the U.S. and Canada, left the customer data spanning…
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Latest customer survey findings on auto insurance trends during the last year show largely similar after-effects in most world regions. In the US, a JD Power 2021 Insurance Shopping Study revealed that the pandemic caused a 55% decrease in number of miles driven, inducing auto insurance customers to shop around for more personalized and cheaper…
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Geico, the second-largest auto insurer in the U.S., has fixed a security bug that let fraudsters steal customers’ driver’s license numbers from its website. In a data breach notice filed with the California attorney general’s office, Geico said information gathered from other sources was used to “obtain unauthorized access to your driver’s license number through…
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