Mobile banking startup Revolut, which earlier this year raised $500 million at a $5.5 billion valuation, is hiring a VP of Insurance that will help create and run an insurtech business that will provide comprehensive insurance solutions to retail and business users across the globe.
It will be interesting to see how it applies its customer focused banking culture to deliver optimal outcomes to consumers and business customers.
Not to mention which insurers Revolut partners with and the technology partners it may chose to fill gaps in the overall customer experience and journey.
Bering a digital bank you can expect data mastery and analytics to be key part of its strategy to win, keep and grow customers.
Another challenge to incumbent insurers
The startup, which already offers travel insurance and device protection in some countries, is looking to offer a range of insurance solutions such as P&C, Life, and “any other products” the new hire can think of. As part of the role, the individual will be required to deliver a 5-year roadmap for the new unit across product offering, target market, partnerships, license, and team structure. In addition, Revolut expects to launch at least one new line of insurance by year 1 and to submit life insurance license applications across the UK, EU, and the US by year 3. According to the job post, Revolut is also interested in partnering with the “right insurers” in order to be able to deliver on its “product vision.”
https://coverager.com/revolut-wants-to-create-an-insurtech-business/
unknownx500
