London fintech startup Revolut plans to make things even easier. The company has launched a new geolocation-based travel insurance product, called Pay-per-Day. If the company detects that you’re abroad, it’ll automatically sign you up to a policy. Coverage can cost as little as £1 (about $1.25) per day, and there’s an annual cap, so you don’t end up paying more than you would with an average annual travel insurance policy.There’s also a grace period. If you don’t want coverage, but forgot to turn Pay-per-Day off on your phone, you’ve got up to eight hours to cancel your policy.