Wipro Limited — Updates, 26-03-2025: Press Release

Wipro has secured a significant £500 million, 10-year strategic agreement with Phoenix Group, a leading player in the UK’s long-term savings and retirement sector. This partnership is set to streamline life and pension business administration for Phoenix's ReAssure division, propelling its operational transformation. Wipro will leverage its FCA-regulated entity, Wipro Financial Outsourcing Services Limited, to provide comprehensive services such as policy administration and claims processing.

In a pivotal role, Wipro will modernize Phoenix’s core policy administration ALPHA platform using advanced technologies including AI and cloud solutions. This initiative aims to enhance efficiency and elevate customer experiences for policyholders. Additionally, Wipro plans to bolster its UK operations with new technology and service hubs while facilitating a smooth transition for some Phoenix employees to its workforce. This engagement underscores Wipro's strategic focus on expanding its footprint within the financial services sector in the UK, presenting a positive outlook for both companies involved.