Following a strategic review, and in light of emerging opportunities and advancements in the Group’s IT strategy, an agreement has been reached to appoint Wipro as a new strategic partner under a Business Process Outsourcing arrangement.  The deal includes the management of ALPHA, the existing ReAssure platform, and its associated capabilities. 

Wipro will deliver life and pension administration services to Phoenix Group for the ReAssure book of business and will assume management of ALPHA. This approach accelerates and simplifies the ReAssure Transformation programme. 

Wipro has committed to investing in the platform and service to ensure it evolves in line with our customer experience ambitions. This approach simplifies the transformation landscape within Phoenix and enables a sharper focus on other key strategic priorities and capabilities.  

The appointment of Wipro complements the continuing partnership with TCS Diligenta who remain a key strategic partner for Phoenix.  In the end-state, more than 8 million existing Phoenix policies will be on BaNCS and TCS Diligenta will continue through their new business capabilities to play a critical role in delivering the long-term growth and customer ambitions of Phoenix. 

Commenting on the announcement, Andy Briggs, Chief Executive Officer of Phoenix Group, said:  

“We continually review our operating model to ensure it is meeting the evolving needs of our customers on their journey to and through retirement and are delighted to be partnering with Wipro.  Wipro is a global technology company with strong IT and Operational expertise, and is committed to investing in the ReAssure platform, which will ensure the service evolves to meet our customer experience ambitions. Adding Wipro to our eco-system of best in class partners removes the need to migrate ReAssure customers and the significant cost of developing or decommissioning the ReAssure platform.  We will now have two strong partners in TCS Diligenta and Wipro to support the delivery of our customer ambitions and outcomes.” 

Commenting on the new partnership, Omkar Nisal, CEO, Europe, Wipro Limited and Non-Executive Chairman of Wipro Financial Outsourcing Services Limited (WFOSL) said: 

“Our new strategic partnership with Phoenix Group signifies an important step forward in establishing our presence in the UK financial sector. We’re committed to enabling our clients to realise their ambitions through cutting-edge and emerging technologies, and we’re delighted to be supporting Phoenix Group achieve their long-term goals for the ReAssure business.” 

Enquiries 

Nathalie Lahiri
Lansons
07917 327 833
Nathaliel@lansons.com

Notes to editors 

About Phoenix Group 

Phoenix Group is one of the UK’s largest long-term savings and retirement businesses with around £290 billion of assets under administration.  

As life expectancy continues to increase and the pension landscape continues to shift, we offer our 12 million customers a broad range of pensions, savings and life insurance products across our family of brands which include Standard Life, SunLife, Phoenix Life and ReAssure. Our vision is to help even more people on their journey to and through retirement, providing the right support at the right time.  

We are a growing and sustainable business united by a common purpose – helping people secure a life of possibilities. This drives everything we do and means taking responsible and sustainable investment decisions, and using our presence and voice to drive forward change for the better, for our customers, our colleagues, and our wider community.  

A FTSE 100 company, we also feature in the FTSE100 ESG Select Index series and we are playing an active role in helping to invest in a sustainable future. As part of this, we have committed to our operations being net zero carbon by 2025 and for our investment portfolios we have set an interim target of a 50% reduction in the carbon emission intensity of c£250bn by 2030, as we progress towards our portfolios being net zero carbon by 2050 or sooner.  

We have been recognised as a leading employer for many years. We are accredited as a Living Wage Employer, Living Pension Employer and as a Carer Positive Exemplary Employer for offering the best support to colleagues who are carers.  

Linkedin:  PhoenixGroup-UK    Twitter: @PhoenixGroupUK