Wipro has won a £500 million, 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.
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.