AIB Life: The First Greenfield Retail Life Assurance Company Built and Launched in Ireland in a Generation
Winner of the 2024 Celent Model Insurer Award for Digital and Emerging Technologies
Abstract
Building a greenfield insurance organisation is an exciting endeavour that requires careful planning, strategic vision, and a commitment to sustainability. By embracing a customer-centric approach, leveraging digital transformation, and fostering innovation, a greenfield company can establish itself as a leader in the insurance industry. This can be achieved by establishing a robust IT infrastructure, embracing digital channels, leveraging data analytics and AI, ensuring data security, collaborating with insurtech startups, and adopting agile development practices.
The AIB life initiative, highlighted in this report, is a prime example of a highly successful greenfield implementation. AIB life has achieved remarkable results with a strong focus on customer experience, improved efficiency, and the utilisation of modular technology.