Nubank expands mobile insurance coverage with protection for digital transactions

São Paulo, November 28, 2022 – Nubank, one of the world’s largest financial services platforms, announces on Monday (28) the additional protection for fraudulent digital transactions as part of its Nubank Celular Seguro insurance. Still in the testing phase for a little portion of the customer base, the coverage will protect transactions made on the Nubank account through the cell phone after the mobile is stolen or under a threat (coercion).

The new feature aims to provide customers more peace of mind if their device is stolen or they experience a threatening situation and are forced to make transactions on their Nubank account. With this additional layer of protection, which in this first test period can only be purchased by customers who do not yet have the insurance contracted, users will get their money back if the Nubank account identifies Pix transactions, payments with the virtual card and other transfers not recognized by the cardholders in these situations. The insurance covers transactions made in the first 24 hours after the theft or until the account/card is blocked. 

Digital protection will be an extra part of the coverage of Nubank Cellular Insurance, offered by the company in partnership with Chubb, the world’s largest publicly traded property and civil liability insurer.

In order to innovate in the sphere of cybersecurity and safeguard the digital security of its users, Nubank has thought of a feature that backs up and protects its customers, as explained by Burke Deutsch, leader of Nubank’s insurance area. “The customer’s loss is not limited to the financial value and the mobile device, it also and especially includes what can be done in their account and with the virtual cards available in the device. We thought of a solution that supports our customers on these occasions, in line with Nubank’s priority to offer the best technological innovations and to fulfill the commitment to maintain security” says Burke.

Last month, the company also launched Modo Rua, a new tool in the country that allows customers to limit the total and maximum amount for Pix, TED or Boleto transactions when they are away from home. 

Bonus tip: Nubank offers a virtual card, just like other financial institutions, and recommends it as the main option for paying for online purchases. In case of a suspicious transaction or doubt about that purchase, just block it and request a new one, ensuring the safety of the physical card. And the best of all: both are charged in the same invoice.