WIPRO

IT major

ro on March 26 announced that it has secured a 10-year strategic deal worth approximately $650 million 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," said Wipro in a stock exchange filing. Andy Briggs, Phoenix Group’s CEO said: “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.