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 prospects.
WFOSL will handle a broad vary of companies akin to coverage administration, claims dealing with and buyer help.
As well as, the contract contains companies for information administration and reporting, compliance and platform know-how.
Included within the settlement is the improve of Phoenix Group’s core coverage administration system, ALPHA, via the incorporation of AI, automation and cloud-based options.
Wipro mentioned that its overhaul will make sure the platform stays prepared for future calls for.
Wipro managing associate and Know-how Providers international head Nagendra Bandaru mentioned: “This strategic engagement with Phoenix Group displays our dedication to leveraging our deep transformation experience round course of and know-how – together with cloud, information and AI – to drive elevated operational agility for purchasers within the monetary companies sector.
“We’re thrilled to associate with Phoenix Group at this important juncture of their transformation journey and supporting them as they appear to navigate an ever-evolving digital panorama.”
Wipro will even improve its foothold within the UK by establishing new know-how and operations centres.
These hubs will probably be supported by a devoted workforce of specialists from Phoenix Group and Wipro.
A variety of Phoenix Group workers will be a part of Wipro.
Phoenix Group CEO Andy Briggs mentioned: “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 considered one of our ecosystem of strategic companions for this part of our transformation journey.”
