Chase launches bancassurance bundle
The insurance product, called Chase Protect, is being rolled out in phases to the digital bank’s UK customers
Digital bank Chase has announced the launch of an insurance bundle for its UK customers, covering travel, mobile phone, and automotive breakdown coverage.
The bundle is available to Chase customers for a fixed monthly fee of £12.50, and is purchasable via the Chase app. Claims can also be submitted by the app.
Chase stated that the product, called Chase Protect, would be rolled out in stages to its UK customers from 4 February.
Travel insurance is provided by Collinson Insurance, and provides multi-trip coverage to the policyholder, their partner, and up to four children, for up to 31 days per trip. This includes protection for up to £20 million for emergency medical expenses, up to £5,000 for cancellation coverage per person, and up to £2,000 baggage cover per person.
Mobile phone insurance is provided by Assurant, and includes worldwide cover against loss, theft, damage, and technical faults.
Breakdown coverage, provided by the UK Automobile Association (AA), includes up to four roadside callouts for breakdowns per year.
“By bringing together essential insurance coverage in one easy-to-manage bundle, we’re helping make protection more convenient and better value – all via the Chase app,” said Harish Iyer, Head of Insurance at Chase.
HSBC India recently signed a bancassurance agreement with SBI General Insurance.