Chubb and Revolut join forces to provide wider coverage to the fintech’s customers

By Aisling Finn on Wednesday 20 January 2021

Digital Banking

The new partnership will cover payment protection, refund protection and ticket cancellation.

Chubb and Revolut join forces to provide wider coverage to the fintech’s customers
Image source: Revolut

Insurance giant Chubb has teamed up with digital banking provider Revolut to offer a broader range of insurance to Revolut’s customers.

Chubb will offer Revolut customers insurance products like purchase protection, refund protection and ticket cancellation when a Revolut card is used.

The new policy also covers when a customer has a confirmed Covid-19 diagnosis and can’t use event tickets purchased using their Revolut account.

Felix Jamestin, head of Premium Product at Revolut, said: "We're always looking to provide the best value possible to our customers and help them get more from their money.”

“We're constantly improving our paid plans and are delighted to partner with Chubb to add purchase protection, refund protection and ticket cancellation for our customers."

The newest insurance addition is just the latest to be added to Revolut’s ‘super app’ as it bundles in feature after feature to make its service ever-more valuable to customers.

Chubb and Revolut will roll the new insurance out across 22 different countries—Revolut operates in 37 different countries and it is not yet clear which lucky countries have made the list.

Goulven Thépot, regional head of Underwriting, Accident and Health in Continental Europe, added: "Our new partnership with Revolut marks a significant step for Chubb as we continue to drive relationships in the digital space.”

“We are looking forward to working with the Revolut team to deliver valuable insurance solutions to their customers."

In the last few months, Revolut has launched a new subscription service called Revolut Plus, an early salary feature, and even more recently Confirmation of Payee that was introduced earlier this month.

Revolut also recently submitted its application for a UK banking licence having operated in the UK for several years without one, the licence will mean that all funds held in Revolut accounts will be protected under the FSCS scheme up to £85,000 and the fintech can begin to offer credit products and overdrafts.

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