Featured is an injectable intraocular lens system including an insertion and injection device and an injectable intraocular lens. In its broadest aspects, the injectable intraocular lens is a deflated flexible bag that is disposed within the insertion and injection device prior to insertion into the eye. In use a portion of the insertion and injection device is inserted into the eye and the flexible bag is deployed out from an aperture in the inserted portion into the eye. Following deployment, the insertion and injection device injects an optical medium, such as a liquid, into the interior of the flexible bag, thereby inflating the bag. In an illustrative embodiment, the amount of medium being injected is selected so that the inflated bag provides the desired corrective power to the intraocular lens so formed. Following injection of the medium, the interconnection between the insertion and injection device and the interior of the flexible bag is broken and a seal is formed so as to keep the medium within the flexible bag interior.