KBC Bank Ireland has expanded its presence into the Irish insurance market with the launch of is its new digital pension product.
It is the first product to launch under its newly launched KBC Insurance NV in Belgium. The customers can sign up for personalised pension fund using the KBC app.
They will be provided with the option to increase, decrease or pause contributions while reviewing their fund performance in real-time.
This self-serve capability is unique to the Irish market and will allow customers to track their progress against their retirement goals, the bank said.
KBC Bank Ireland chief executive Peter Roebben said: The KBC Group bancassurance model is unique, with an integrated bank insurance business proposition. We begin the roll-out of our new bank insurance model with the launch of our digital pension.
“This is a very significant launch as we evolve our business model here in Ireland, leveraging the wealth of experience and expertise of KBC Group.”
KBC Life and Pensions branch manager John Gethin said: “Co-designed with customer involvement at every stage of development, our pension product incorporates deep sectoral expertise and academic research, as well as behavioural, economic, and psychological theories and insight.”
KBC divulged that it also has plan to roll out personalised, instant, and accessible products in the Irish market to provide more convenience and greater choice to the customers.