Nubank launches another insurance product

After the launch of life insurance and cell phone insurance, Brazilian digital bank Nubank is introducing a new coverage option for its banking users.

The coverage, underwritten by Chubb, is designed to protect users against unwanted digital transactions in instances when a phone is stolen or when a user is under threat.

Currently, select Nubank users navigating to the phone insurance section in the app will see this new option along with the existing ones that offer protection against damage and theft.

Chubb has a similar offering in Chile in partnership with fintech company Tenpo.