Revolut starts phasing in car insurance offering
Updated / Monday, 31 Jul 2023 00:00
Revolut claims that its product came out as the best deal in a third of cases it examined in an analysis
Revolut claims that its product came out as the best deal in a third of cases it examined in an analysis
By Brian Finn
Business Journalist
Banking and payments app Revolut is launching its car insurance offering in Ireland today in partnership with insurer AIG.
As part of the initial phase, the product will be offered to 3,000 customers here before being rolled out to all of the company's Irish customers in the coming months.
Citing a price analysis study that it conducted, Revolut claims that in a third of cases, its product came out as the best deal.
Some customers are in line to receive 30% in savings versus other providers, Revolut claims.
Further reductions can be availed of by customers who have a subscription to one of Revolut's paid plans and to those who sign up to Smart Driving.
Revolut's Smart Driving - which monitors driving patterns and speeds - is available to drivers with fewer than six claim free years.
Customers who opt to pay their insurance premium up front can avail of an additional premium reduction.
However, the app will also offer customers the ability to pay in 12 monthly instalments with no up front down-payment.
Revolut Car Insurance customers are also being offered control of their policy in-app where they can view, amend or cancel their policy.
"With this launch we aim to change the way Irish customers buy, view and manage their car insurance. Getting a quote in our app is now quick and intuitive, with fewer screens and less friction than the traditional ways of buying insurance," Cian O'Toole, Revolut’s Global Strategy and Operations Manager for Insurance said.
