Dublin: Popular online banking app Revolut is taking a step further into the world of financial services, announcing that Revolut will now offer car insurance. General Manager Balas Gati said that the new system will ensure seamless insurance service.
The company has more than two million customers in Ireland and has recently offered loans and credit cards. The company also announced plans to move customers to Irish iBAN numbers in January.
From Wednesday, Revolut is making car insurance available to customers in Ireland. Full launch in coming weeks. Ahead of that, the company has opened a waitlist for Revolut customers. The company said that applications will be accepted entirely on the basis of the app. The entire process will be completely digital, the company said. It takes less than five minutes per customer. The company said it will pay a premium with more discounts to customers who install its smart driving device in their cars.
Eligible customers can apply for car insurance completely through the Revlout app, and the entire process takes less than five minutes, the company said. According to the financial technology company, Revolut offers premiums that are up to 30 percent cheaper than the next best provider on the market, and offers additional discounts of up to 25 percent if eligible customers enable the smart driving feature.
This handy feature, which can be easily accessed after installing a device that plugs directly into the car's accessory socket, will allow Revolut to individually charge customers based on their driving behaviour, allowing customers to get better rates.
Revolut will offer customers flexible payment options and attractive interest rates, adding that annual payment options and monthly payment options are also available.
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