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, provide complete life and pension administration providers to Phoenix Group’s ReAssure prospects.
WFOSL will handle a broad vary of providers similar to coverage administration, claims dealing with and buyer help.
As well as, the contract contains providers 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 way of 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 associate and Know-how Companies 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 purchasers within the monetary providers sector.
“We’re thrilled to associate with Phoenix Group at this essential juncture of their transformation journey and supporting them as they give the impression of being to navigate an ever-evolving digital panorama.”
Wipro may also improve its foothold within the UK by establishing new know-how and operations centres.
These hubs shall be supported by a devoted group of specialists from Phoenix Group and Wipro.
Various Phoenix Group workers 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 prospects on their journey to and thru retirement.
“We’re delighted to have them be a part of us as certainly one of our ecosystem of strategic companions for this section of our transformation journey.”
