New travel insurance app uses geolocation

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One of the hassles of travel, especially for those who travel a lot, is finding and organizing affordable travel insurance every time you go. A British fintech company Revolut has come up with a way to save travellers time and money on travel insurance. Revolut already offers a variety of financial services, including insurance for electronic devices, a type of prepaid MasterCard with a foreign exchange feature, and in-app cryptocurrency trading. Now, they are launching an international travel insurance app that can turn itself on and off automatically, using the location data in your mobile device. Users can set up the service and forget about it, as they will be charged only for days when they are actually abroad.

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