Prudential is entering the direct selling market with the launch of new savings and mortgage service under the brand name Egg.
Clients will be able to access their accounts and mortgages by telephone, post and internet.
In the medium term, Pru will also role out life, pensions and investment businesses under the new brand.
The life office says the new initiative will create 1,500 jobs over the next three years.
Prudential Group chief executive Sir Peter Davis says: "Egg is a radically new direct financial organisation designed for the digital age."