(Winnipeg) Canada Life has signed a partnership agreement with online mortgage company Nesto, which will take over the servicing and administration of the insurer’s residential mortgages starting in January.
In addition to servicing existing mortgages, Nesto will also be responsible for Canada Life mortgages as they mature.
This partnership follows Canada Life’s decision in 2022 to withdraw from the residential mortgage market.
Canada Life says customers will benefit from a modern digital customer experience with the move to Nesto, which launched in 2018.
It says Canada Life mortgage customers will have access to Nesto’s customer service platform as part of a phased implementation plan in mid-2024.
Canada Life is a subsidiary of Great-West Lifeco.
