Seems like he's about the same way as shen with his survivability so he's most highly going to cost about 3150ip (I'm basing this fact at that he got shield wich is like feint and his ultimate sort of got a immitating effect like shen, saving the target, the rest isn't the same).
However if you're going to build this champ as an tank (or ap tank with a mix of AP/health items due to ap ratio's and the already existable survivability from the shield and ult) then you may be able to rescue a team mate from a mayor screw up (ex. squishy ally walks into bush full of enemies, you manage to save him/her by using your ult in the nick of time. Got no idea if it's going to have a channel time or if it's instant, global or not).
I'll be looking forward to see how people will use his utility, will they see him as a potent AD user, AP user or maybe a pure tank, he got the possibility to be played as all three ways.