A NEW technology-led insurance company has been launched to AIB's 3.2 million customers, offering life protection, pensions and investment products.
AIB life is a joint venture between AIB and Great-West Lifeco.
And its launch will lead to the creation of 100 roles in customer service, technology, finance, compliance, risk and actuary at its Central Park office in Dublin and in Letterkenny.
AIB and Great-West Lifeco have together committed to investing more than €250 million in AIB life.
the new joint venture aims to help AIB customers become more financially secure by giving them exclusive access to AIB life protection, pensions and investment products.
Customers can avail of advice and support from AIB’s existing network of 120 financial advisers across Ireland.
Once the customers have been suitably advised, they gain access to the new AIB life hub via the AIB mobile banking app.
AIB chief executive Colin Hunt said: “This launch of AIB life marks another key milestone in the delivery of our strategy to become a full provider of financial services for our 3.2 million customers.
“We are delighted to have formed a strong strategic alliance that marries the product and service expertise of Great-West Lifeco with AIB’s market-leading customer franchise, technology and distribution so that we can better support our customers in planning their financial lives.’’
Declan Bolger, head of Great-West Lifeco’s operations in Ireland, added: “The launch of AIB life is an exciting step for our two businesses.
“It will enable AIB customers to access a range of innovative life, pension and investment solutions, supported by a network of experienced financial advisers, and to easily keep track of their plans through AIB’s mobile banking App.
“For Great-West Lifeco it represents another step in growing and diversifying our business in Ireland, helping customers to plan for and secure their financial futures”
AIB life chief executive Bryan O'Connor said: “Our vision is to help people on their path to financial security, one step at a time, and we will provide protection, pensions, and investments to help AIB’s personal and business customers to plan for and secure their financial futures.
“Whether they are looking to prepare for retirement, put in place a safety net to protect their loved ones or their business, or looking to invest in a flexible way, we have the product offering, and the digital and in-person capability to support them.’’
