Wipro has won 500 million pounds, 10-year strategic deal with Phoenix Group, the UK's largest long-term savings and retirement business. The project is designed to deliver life and pension business administration for the ReAssure business and accelerate Phoenix Group’s operational transformation.
Under the terms of the deal, Wipro’s existing FCA-regulated entity, Wipro Financial Outsourcing Services (WFOSL), will deliver comprehensive life and pension administration services to Phoenix Group’s ReAssure customers. These services will encompass Policy Administration, Claims Processing, Customer Service Support, Data Management and Reporting, Compliance and Regulatory Support, as well as Platform Technologies.
As part of the engagement, Wipro will assume management of the core policy administration ALPHA platform, modernising it with AI, Automation, Cloud, and Digital transformation technologies. This modernisation initiative will ensure the platform is future-ready, enhancing efficiency, and delivering superior customer experiences for Phoenix Group policyholders.
The company will also strengthen its UK presence by establishing additional technology and operational service hubs. These hubs will be supported by a team of experts from both Phoenix Group and Wipro, who will work collaboratively to further enhance the customer experience. As part of this transformational initiative, a number of Phoenix employees will transition to Wipro.
Wipro is a leading global information technology, consulting and business process services company.
| Company Name | CMP |
|---|---|
| TCS | 3604.45 |
| Infosys | 1570.40 |
| HCL Tech. | 1590.95 |
| Wipro | 262.10 |
| Tech Mahindra | 1418.00 |
| View more.. | |
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