UK digital bank Chase has announced the launch of its first insurance product.

The new product is a bundle of worldwide travel insurance, mobile phone insurance, and AA UK breakdown cover, available for a fixed monthly rate of £12.50.

The bank said it has prioritised creating a "seamless" app-based experience for customers looking to take out cover.

Customers can purchase and manage their cover, and submit any claims via the Chase app.

The new product is currently available as an add-on to Chase's current account.

The product is being rolled out in stages to customers from Wednesday.

“We’re excited to introduce Chase Protect, a simple and affordable way for our customers to safeguard what matters most," said Harish Iyer, head of insurance, Chase. "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.”

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