By installing an optional Smart Driving device in their cars, customers will be able to get personalised rates.
Revolut is rolling out car insurance to more than 2m customers in Ireland.
Irish users of the popular neobank can join the Revolut Car Insurance waitlist from today (22 March), with the service set to launch before summer.
Revolut claims that it can offer its flexible service at premiums up to 30pc cheaper than the next best provider in the market. Some of the popular traditional providers of car insurance in Ireland include Axa, Aviva, Allianz, 123 and Liberty.
Balazs Gati, Revolut’s general manager of insurance, said that offering car insurance through an app is a convenient way for customers to access the service.
“We have worked to provide great pricing, flexible and bespoke plans, and a hassle-free user experience. We’ve taken a fresh approach to car insurance, and we’re looking forward to hearing feedback from our customers over the coming weeks,” Gati said.
Eligible customers who enable a Smart Driving feature on Revolut by installing a device that plugs into a car’s accessory socket will also be offered discounts of up to 25pc. The discount will be determined by the customer’s driving behaviour, which will be tracked by the device.
Both annual and monthly payment options will be available once Revolut Car Insurance is launched.
Last month, the fintech challenger bank based in the UK said it is launching a credit card service for customers in Ireland. Revolut credit cards will come with an initial interest-free period and be available to all eligible users with “an immediate approval process”.
Earlier this year, Revolut opened a waitlist for a new Ultra subscription service that will offer benefits such as low fees for investment products and discounts with various partnerships.
Revolut has launched Irish IBANs for customers after officially becoming a bank in Ireland last year. This will enable Irish Revolut users to receive salaries, make direct debit payments and pay service providers via the platform.
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