Revolut and the travel insurance launched with the Geolocation-powered function

If you are in a hurry to know about the advanced technology related to the travel insurance, do not hesitate to read this article to understand about its Geolocation-powered function launched by Revolut.

In the recent Conversation with the representative of Monzo - Tom Blomfield and the representative of N26 -  Valentin Stalf, the representative of Revolut - Nikolay Storonsky has just announced their new travel insurance program.

As far as you may know, Revolut is a Fintech startup which operates in launching international dental and medical insurance. They also offer customer online application which you may subscribe simply by using their app for only $1 a day. In the case that you are looking for further facilities and benefits, there are more options with higher prices for your choice.

The representative of Revolut has just announced their new travel insurance program

The Geolocation-powered function of Revolut’s new travel insurance options

But what is our best part here regarding Revolut’s innovation? Let’s jump directly to the main point. You may set your program up and do not have to keep reminding yourself about it. The reason is that Revolut uses the location data of your device to turn your insurance coverage off and on automatically. It is so convenient, isn’t it? You may have more spare time to do other things and only have to open this app to check the information whenever you need.

By default, the insurance coverage this company offered to its customer costs $1 a day for both dental and medical insurance. There is an option dedicated for some winter sports, which you can add up every time you want. Also, you can cover your family and friends just by clicking some options in your app.

If you are always driving or cycling on the street along with spend months or at least weeks abroad, Revolut will cap your travel insurance balance after a fixed time amount. Such amount can be decided after having the official agreement from you. Furthermore, you need to pay a certain upfront price as a compulsory amount in its annual policy.

Everyone who is familiar with travel insurance will be happy with this useful function
However, Revolut is not becoming a sole insurance company. With its insurance product built in a mobile device, the startup can work closely with other insurance companies to achieve the best results. This time, they choose Thomas Cook Money to be the in-charge firm of the new product of the travel insurance. It is also noted that the Revolut Premium program includes the travel insurance.

Up to now, it is unclear if this company will request their users’ location regularly when their app stays in their smartphones’ background or it just gets the location at the time of opening that app.

It is the right time to consider the coordination between the travel insurance program and advanced technology
Revolut is building their insurance hub in order to to control the insurance needs of their users from its app in a slow but stable way. Many experts and researchers affirmed that it is a smart action. It is considered the right time for this company as it recently has to draw money from its balance to keep a healthy financial situation.

In addition to the above function, this app may let you feel like you are not spending too much money just because you do not have to enter the details of your own card number. Whenever the amount of travel insurance incurred, you will be noticed via phone or email or messages from the app. Then, you will decide which method of payment to use.

Verdict

The startup, Revolut has a released new and surprise feature named the Geolocation-powered function at an incredibly impressive pace. You can feel more comfortable with this service simply by using a prepaid Visa or MasterCard attached with a feature related to updating foreign exchange rate automatically. You may trade cryptocurrencies at ease in the app of Revolut, request for your credit line, receive all of the money on the IBAN, and more. By this way, it is becoming one of the serious and successful banking alternatives.

Yes, we are mentioning that the Geolocation-powered function will not only match with the travel insurance but also other options and features in the different field of our lives.

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