N26, Simplesurance launch N26 insurance

Executed in partnership with insurtech Simplesurance, N26 Insurance will bring the same benefits to insurance that it has brought to its digital banking experience. N26 customers in Europe will be able to purchase coverage, manage plans, and initiate claims for smartphone insurance straight from the N26 mobile or desktop apps to cover accidents and damage, including water damage and even theft of their device. Customers will be able to select plans straight from the app, with the option to purchase annual cover or monthly plans with a flexible cancellation policy. Prices start at EUR 6 a month, based on the original value of their smartphone.

The launch of the new on-demand smartphone insurance is the first of a series of planned product launches rolling out to N26 customers in Europe that will include laptop, smartwatch, and tablet insurance in the following weeks as well as home, life, travel, private liability, bike, electronics, and pet insurance over the coming months, giving N26 customers a way to easily select, manage, and pay for insurance products in a seamless, all-in-one-app experience with N26. In a market with an annual volume of EUR 1.31 trillion, Europeans spend over EUR 2,000 a person a year on insurance cover on average. N26 aims to simplify this important part of customers’ financial lives, empowering them to live more confidently.