MetLife insurer and fintech Revolut have entered into a partnership to provide Credit Protection Insurance to customers of the financial services platform. The new optional coverage will be available in Portugal, Spain, France, and Romania.
The insurance, accessible through the Revolut app, features two distinct packages. The basic package covers death, temporary or permanent disability, and hospitalization, guaranteeing payment of 100% of the outstanding capital in case of death or total permanent disability, and up to 12 credit installments in case of hospitalization or temporary disability. The complete package adds protection against involuntary unemployment to these coverages.
Distribution in the national market will be handled by Revolut Insurance Europe UAB, an insurance intermediary based in Lithuania, under the Freedom to Provide Services regime. David Tirado, Chief Commercial Executive at Revolut, highlighted that the measure aims to give customers "peace of mind," while Nuria Garcia, Regional President of MetLife EMEA, emphasized that the alliance combines Revolut's digital innovation and customer base with MetLife's insurance expertise.
Revolut is a global fintech headquartered in the United Kingdom with more than 80 million customers. MetLife is a multinational financial services company specializing in life insurance, personal protection, pensions, employee and worker benefits, and asset management, present in more than 40 markets globally.
