Property and casualty insurer Chubb has entered into an insurance partnership with financial technology company Revolut that offers digital banking services.
Under the tie-up, the insurer will provide a range of coverage for customers of Revolut, including purchase protection, refund protection and ticket cancellation, when Revolut account is used for such transactions.
The policy also offers coverage when a customer is diagnosed with Covid-19 and is therefore unable to use event tickets booked through their Revolut account.
Chubb Continental Europe director of Accident and Health Florian Eisele said: “We are delighted with our new digital partnership with Revolut. We strive to build long-term, successful relationships with our insurance partners that deliver value for the partner and their clients. For us Revolut is a good example of digital innovation that aligns with our own ambitions.”
Chubb Continental Europe regional head of Underwriting, Accident and Health Goulven Thépot 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.”
Revolut selected Chubb as the carrier considering its multinational capabilities and global footprint. The company plans to roll out the programme across 22 countries.
Revolut head of Premium Product Felix Jamestin 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.”
In December 2020, Chubb joined forces with Brazilian neobank Nubank to roll out a fully digital life insurance offering in Brazil.