the global money app and the leading alternative to traditional banks, today announced the launch of its pay per day travel insurance a revolutionary functionality that uses the geolocation of a user to provide medical and dental coverage instant, starting from 1 euro per day.
What is Revolut?
Revolut was launched in July 2015 with an ambitious mission: to completely turn the banking sector upside down. With Revolutusers can create a current account from the app in 60 seconds, spend abroad in more than 130 currencies without commissions, hold and exchange 25 currencies in the application, send free national and international transfers with the real exchange rate and buy , store and sell cryptocurrencies.
https://youtu.be/63lwQ1qCx_U
Payment per day in a travel insurance
The travel insurance take advantage of application technology to identify the location of a user and automatically activate coverage when it identifies it as necessary. Users can personalize your insurance from their phone while on the go, also with the option to add winter sports coverage and include friends and family on your policy.
A user of Revolut Spanish passes, on average, 13 days abroad per year, what it would cost you with the Pay Per Day service approximately 13 euros per year, an amount well below what the insurers offer. In addition, users will be able to modify their policy by configuring their coverage, such as extending coverage to winter sports, after they have started their vacation.
In addition, and with the purpose that the most frequent travelers do not spend excessively for their insurance, Revolut will fix a total cost cap per year offering the user the option of paying a standard amount for an annual travel insurance policy.
Insurance policies will be made in collaboration with Thomas Cook Money, a financial services subsidiary of the Thomas Cook Group. Policies will be issued under the White Horse Insurance brand.
Pay Per Day travel insurance joins the product of device insurance offered by Revolut. This represents a further step in the development of the leading digital banking in order to become the best set of financial products on the market. It is expected that in the coming months the company will continue to reveal new and groundbreaking features in different areas.
As explained by the General Manager of Revolut in Spain:
“This is the world’s first pay-per-day travel insurance that leverages phone technology to save money. We wanted to create a type of insurance that uses technology to help our users and only cover them on the days they really need coverage, and all at the cheapest price. Pay Per Day travel insurance is a global first and it is one more step in our journey to build a platform that offers the best and fairest banking experience possible“
Parallel to this, and in response to the strong demand since the company landed in Spain, Revolut has also announced the new version of its app that is now available in Spanishfor both iOS and Android.
Revolut, in an expansive phase
The London-based company already has more than a million users across Europe in just two years since its launch, and opened its office in Spain (Barcelona) just over two months ago. Since landing in Spain, the user base has grown by approximately 50%, new daily users have tripled and the company now has close to 50,000 users in the country. A) Yes, Spain is already the fifth country in Europe in number of users and one of the fastest growing. Revolut has raised total cumulative funding totaling $90 million from some of the most recognized investors globally, including Index Ventures and Ribbit Capital.
Revolut has made these announcements public shortly after closing 2017 with a very important milestone: theto possibility for take out device insurance and obtain consumer credit (currently only in ). The latest functionalities launched at the product level are one more step in Revolut towards expanding its financial services offering through partnership with innovative and leading fintech companies.
Stay informed of the most relevant news on our news channel
Facebook Comments
Disqus