British travel company Thomas Cook has partnered with fintech firm Revolut to launch a "pay-per-day" travel insurance service which automatically provides users with medical cover by tracking their location through their mobile phones.
British travel company Thomas Cook has partnered with fintech firm Revolut to launch a “pay-per-day” travel insurance service which automatically provides users with medical cover by tracking their location through their mobile phones. Revolut, the digital bank start-up, said it could pinpoint customers’ location through its app technology and automatically turn on the coverage when required, starting at less than 1 pound ($1.38) a day. “We wanted to create a type of insurance that uses technology to help our customers and only cover you on the days you actually needed to be covered,” Revolut CEO Nikolay Storonsky said in a statement.
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