Revolut appoints Allianz Partners as its new global travel insurance services provider

By Joy Dumasia

Revolut, the global financial super-app with more than 18 million customers worldwide, has appointed Allianz Partners, a leading B2B2C insurance and assistance services company, as its new global travel insurance services provider. As of April 2022, Allianz Partners will provide its comprehensive travel insurance services to Revolut customers who hold a Premium or Metal Account, initially in 31 markets across The European Economic Area and the UK.   

New and existing Premium and Metal Account holders will have access to travel insurance benefits directly within the Revolut app. Revolut’s travel insurance package is another example of the FinTech’s ongoing efforts to meet and support the needs of their customers. Even when these needs change over time: thanks to the new partnership with Allianz Partners, insured customers will now be covered for trip cancellation and trip interruption in pandemic and epidemic illness, including COVID-19. 

The insurance package provided by Allianz Partners will also include the benefits that Revolut customers have come to enjoy over the past few years, such as protection for overseas medical emergencies, trip cancellation, trip interruption, lost or delayed baggage, and winter sports cover. Customers also benefit from a 24/7 Medical assistance hotline and a range of additional benefits provided by Allianz Partners. The Premium plan will now provide cover for children or dependents up to 17, and Metal will include extended travel liability cover and car hire excess.

Balazs Gati, Global Head of Insurance at Revolut, commented: “Offering travel insurance with Allianz Partners will give a significant boost to Revolut customers’ confidence. Our financial super-app offers a wide range of innovative in-app services in addition to those associated with banking and finance, with insurance a valuable asset in our product portfolio. Revolut and Allianz Partners have the same mission: to ensure the health and well-being of customers when they travel, as healthcare access and costs should not be a limitation to getting the medical support they need. With this partnership, Revolut clients will receive a broader insurance plan with additional protection, together with all the great features they have come to love.”

Lee Taylor, Chief Sales Officer at Allianz Partners UK and Ireland, said: “Allianz Partners is delighted to partner with Revolut to provide its Premium and Metal customers with comprehensive travel protection whilst travelling across the globe. This partnership further demonstrates our extensive experience and continued growth in providing insurance and assistance programs across the UK financial services market. We see Revolut as a strong strategic partnership that will ensure we remain at the forefront of driving future developments in the InsurTech marketplace. Our commitment remains to Revolut and its customers that we will develop innovative products across our portfolio that combine high-tech with the human touch.”