Tech firm Wipro has secured a £500m ($647m) contract with Phoenix Group, a UK-based financial savings and retirement enterprise.
The ten-year settlement will see Wipro’s monetary outsourcing division, WFOSL, supply complete life and pension administration companies to Phoenix Group’s ReAssure clients.
WFOSL will handle a broad vary of companies similar to coverage administration, claims dealing with and buyer assist.
As well as, the contract consists of companies for knowledge administration and reporting, compliance and platform know-how.
Included within the settlement is the improve of Phoenix Group’s core coverage administration system, ALPHA, by the incorporation of AI, automation and cloud-based options.
Wipro stated that its overhaul will make sure the platform stays prepared for future calls for.
Wipro managing accomplice and Know-how Providers international head Nagendra Bandaru stated: “This strategic engagement with Phoenix Group displays our dedication to leveraging our deep transformation experience round course of and know-how – together with cloud, knowledge and AI – to drive elevated operational agility for shoppers within the monetary companies sector.
“We’re thrilled to accomplice with Phoenix Group at this vital juncture of their transformation journey and supporting them as they appear to navigate an ever-evolving digital panorama.”
Wipro will even enhance its foothold within the UK by organising new know-how and operations centres.
These hubs will likely be supported by a devoted group of specialists from Phoenix Group and Wipro.
Quite a lot of Phoenix Group employees will be a part of Wipro.
Phoenix Group CEO Andy Briggs stated: “Wipro’s experience in know-how and repair makes them ideally positioned to assist us ship excellent service and worth for our ReAssure clients on their journey to and thru retirement.
“We’re delighted to have them be a part of us as one among our ecosystem of strategic companions for this part of our transformation journey.”
