Business EconomyPosted at: Mar 26 2025 5:59PM


Wipro wins 500 Million Sterling Pound strategic deal with UK insurance Phoenix Group

New Delhi, Mar 26 (UNI) IT major Wipro on Wednesday said that it has won a 500 million UK
Pound, 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, Wipro said in a statement.
Andy Briggs, Phoenix Group’s CEO commented, “Wipro's expertise in technology and service makes them ideally placed to help us deliver outstanding service and value for our ReAssure customers on their journey to and through retirement. We are delighted to have them join us as one of our ecosystem of strategic partners for this phase of our transformation journey.”
Under the terms of the deal, Wipro’s existing FCA-regulated entity, Wipro Financial Outsourcing Services Limited (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.
“This engagement with Phoenix Group marks an important milestone in the evolution of our work with financial institutions in the UK,” said Omkar Nisal, CEO - Europe, Wipro Limited and Non-Executive Chairman of WFOSL.
“We are proud to support Phoenix Group in the transformation of their ReAssure business and help them achieve their long-term objectives. This landmark deal further underscores our commitment to helping financial institutions deliver exceptional client experiences and further cements our position as a key player in the Life and Pension Third Party Administration (TPA) provider sector in the UK.”
Nagendra Bandaru, Managing Partner and Global Head -Technology Services, Wipro Limited said, “This strategic engagement with Phoenix Group reflects our commitment to leveraging our deep transformation expertise around process and technology - including cloud, data, and AI to drive increased operational agility for clients in the financial services sector. We are thrilled to partner with Phoenix Group at this critical juncture of their transformation journey and supporting them as they look to navigate an ever-evolving digital landscape.”
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 said.
Wipro 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.
UNI SKB BM
Please log in to get detailed story.
Tags: #Wipro wins 500 Million Sterling Pound strategic deal with UK insurance Phoenix Group
More News

RSP’s New Plate Mill registers significant operational milestones

23 Apr 2025 | 7:29 PM

Bhubaneswar, Apr 23 (UNI) The New Plate Mill (NPM) of Rourkela Steel Plant (RSP) demonstrated remarkable operational excellence in the financial year 2024–25, achieving several key milestones.

see more..
Sensex gains 520 90 pts

Sensex gains 520 90 pts

23 Apr 2025 | 6:04 PM

Mumbai, Apr 23 (UNI) Maintaining a winning streak intact for the seventh straight session, the BSE Sensex on Wednesday rallied 520.90 pts, breaching 80K level to close at 80,116.49 as buying was seen across the board along with firm global cues.

see more..
Daifuku intralogistics unveils advanced manufacturing and innovation facility

Daifuku intralogistics unveils advanced manufacturing and innovation facility

23 Apr 2025 | 6:03 PM

Mumbai, Apr 22 (UNI) Daifuku Intralogistics India Pvt. Ltd, a subsidiary of Japan-based Daifuku Co., Ltd has announced the opening of its new landmark Rs 227 crores state-of-the-art manufacturing facility, according to a statement here on Tuesday.

see more..

UP govt to transform urban areas with Rs 25K cr investment

23 Apr 2025 | 6:03 PM

Lucknow, Apr 23 (UNI) Urban areas across Uttar Pradesh are set for a major overhaul, with the state government preparing a blueprint to implement schemes worth over Rs 25,000 crore aimed at their rejuvenation, official sources said here on Wednesday.

see more..

Kottayam-Kochi rubber market rates

23 Apr 2025 | 5:57 PM

Kottayam, Apr 23 (UNI) Following were the rubber market rates per quintal announced by the Rubber Board here on Wednesday.

see more..