Revolut to introduce car insurance to Irish customers

Beginning in Spring, Irish customers will now be offered car insurance, with the waitlist being rolled out today before the official launch

Revolut's latest announcement reflects the apps growing presence in Ireland

Revolut has vowed to make car insurance "competitive and flexible" as the global fintech app expands further into the Irish market.

Beginning in Spring, Irish customers will now be offered car insurance, with the waitlist being rolled out today before launching in the coming months. 

The provider has vowed to offer premiums "30% cheaper than the next best provider in the market," based on 33 consumer profiles across five of Ireland's leading insurance companies.

Eligible customers will also be offered discounts of up to 25% by enabling the Smart Driver feature in their vehicles.

For those that opt-in, they will be priced based on individual driving behaviour and will have the ability to receive discounted rates year-on-year. 

Revolut's latest announcement reflects the apps growing presence in Ireland, with the provider also recently implementing Irish IBANS for customers, a move that was hailed by consumer finance experts. 

Just last month, the digital bank also introduced credit cards for Irish customers, offering 0% interest for the first three months, after which an APR rate of 17.99% will apply.

The apps expansion has further solidified Revolut's legitimacy, making them better suited as a customer's primary bank account.

According to the fintech app, Revolut is the first in the market to provide an app-based car insurance journey, with customers able to receive an initial quote in less than five minutes.

Both annual and monthly payment fees will be made available, vowing not to add "hidden fees" such as interest rates on monthly payments.

“We’re delighted to announce that Revolut Car Insurance will soon be available in our superapp, offering our customers in Ireland a convenient way to insure their vehicles,"  said Balazs Gati, Revolut General Manager Insurance.