Wipro Secures Major Deal with Phoenix Group for Transformational Services

Wipro, a leading IT services company, has signed a 500-million pound deal with Phoenix Group, the UK's largest long-term savings and retirement business. The 10-year strategic partnership aims to modernize Phoenix's life and pension administration, enhancing customer experiences through advanced technologies.

IT services giant Wipro has landed a massive 500-million pound, 10-year deal with British insurer Phoenix Group. This strategic partnership aims to revolutionize life and pension business administration for Phoenix's ReAssure division, driving operational transformation for the insurer.

Wipro Financial Outsourcing Services Limited (WFOSL), Wipro's FCA-regulated entity, will provide extensive life and pension administration services. As part of the initiative, several Phoenix employees will transition to Wipro, though exact numbers remain undisclosed.

Wipro will manage Phoenix's core policy administration 'ALPHA' platform, enhancing it with AI, automation, and digital transformation technologies to ensure it remains future-ready, thereby improving customer experiences.

(With inputs from agencies.)