Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO), a leading
technology services and consulting company, today announced that it
has made a significant investment in Aggne, a leading consulting
and managed services company serving insurance and Insurtech
industries.
With this investment, Wipro becomes a majority shareholder in
Aggne, which brings to Wipro a highly sought-after and unique set
of capabilities and Intellectual Property (IP) in the property
& casualty (P&C) insurance space. The combined capabilities
of Wipro and Aggne will help deliver enhanced value, faster
speed-to-market, and differentiated services to clients in the
P&C sector.
“Aggne’s unique capabilities will allow us to significantly
strengthen our value proposition in a fast-growing part of the
insurance sector,” said Ritesh Talapatra, Senior Vice President,
Capital Markets and Insurance, Americas 2 Strategic Market Unit,
Wipro Limited. “The Aggne team has a deep and well-established
experience in the P&C insurance space. Their unique IP and
modular approach to implementations significantly accelerate
time-to-market, driving faster business outcomes and better client
satisfaction. This, combined with Wipro’s deep relationships and
global scale, will help us drive significant synergies and uncover
new growth opportunities.”
Aggne offers a wide range of services designed to help insurers
transform operations, drive new efficiencies, and deliver optimal
customer experiences. The company focuses on building
industry-changing solutions for the P&C insurance industry,
with a commitment to collaborating with clients as partners.
Aggne’s services include IP-led consulting, implementation, and
managed services with a strong focus on the Duck Creek platform—a
full suite of cloud-based, low-code products that enable P&C
insurers to fast-track product development and drive ongoing
innovation.
“We are thrilled to add Aggne’s unique capabilities to our
portfolio,” said Harpreet Arora, Senior Vice President and
Global Head of Banking, Financial Services and Insurance Domain
& Consulting at Wipro Limited. “Their innovative, IP-driven
consulting capabilities in the insurance space and premier
partnership status on the Duck Creek platform stand out in the
marketplace. Combined with our domain expertise, these capabilities
will allow us to bring clients a truly end-to-end offering that
will help them drive competitive advantage and customer
loyalty.”
Mike Jackowski, Chief Executive Officer of Duck Creek
Technologies, added, “We are excited about the partnership
between Aggne and Wipro. Aggne's deep expertise and experience in
implementing Duck Creek products, combined with Wipro's scale,
insurance industry acumen, and global reach, will greatly benefit
our customers. This investment by Wipro brings together the best in
two leading firms and will help drive innovation to the insurance
industry through the deployment of leading SaaS-based
solutions.”
Aggne is a recognized leader and premier partner in the Duck
Creek ecosystem. The company is the recipient of the Duck Creek
Technologies 2023 Americas Value Creation Partner of the Year
award.
“We are excited about the growth opportunities this new
partnership creates for our company and our current and future
clients,” said Asha Kalidindi, Co-Founder and CEO of
Aggne. “Joining forces with Wipro will allow us to reach a
larger and global set of clients and deepen our presence in the
insurance sector. Further, Wipro’s commitment to talent development
will provide our employees with new growth opportunities. With
access to Wipro’s scale and deep technical capabilities, as well as
investments in artificial intelligence, we will be able to innovate
faster, expand our capabilities and build new ones in alignment
with evolving industry needs. We look forward to tapping into the
potential ahead of us and driving continued growth for our
clients.”
Founded in 2019, Aggne is incorporated in the United States and
India, with offices in Tampa, Florida, and Hyderabad, India. The
company has 230 employees based in India and the United States.
About Wipro Limited
Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO) is a leading
technology services and consulting company focused on building
innovative solutions that address clients’ most complex digital
transformation needs. Leveraging our holistic portfolio of
capabilities in consulting, design, engineering, and operations, we
help clients realize their boldest ambitions and build
future-ready, sustainable businesses. With nearly 240,000 employees
and business partners across 65 countries, we deliver on the
promise of helping our customers, colleagues, and communities
thrive in an ever-changing world. For additional information, visit
us at www.wipro.com.
Forward-Looking Statements
The forward-looking statements contained herein represent
Wipro’s beliefs regarding future events, many of which are by their
nature, inherently uncertain and outside Wipro’s control. Such
statements include, but are not limited to, statements regarding
Wipro’s growth prospects, its future financial operating results,
and its plans, expectations and intentions. Wipro cautions readers
that the forward-looking statements contained herein are subject to
risks and uncertainties that could cause actual results to differ
materially from the results anticipated by such statements. Such
risks and uncertainties include, but are not limited to, risks and
uncertainties regarding fluctuations in our earnings, revenue and
profits, our ability to generate and manage growth, complete
proposed corporate actions, intense competition in IT services, our
ability to maintain our cost advantage, wage increases in India,
our ability to attract and retain highly skilled professionals,
time and cost overruns on fixed-price, fixed-time frame contracts,
client concentration, restrictions on immigration, our ability to
manage our international operations, reduced demand for technology
in our key focus areas, disruptions in telecommunication networks,
our ability to successfully complete and integrate potential
acquisitions, liability for damages on our service contracts, the
success of the companies in which we make strategic investments,
withdrawal of fiscal governmental incentives, political
instability, war, legal restrictions on raising capital or
acquiring companies outside India, unauthorized use of our
intellectual property and general economic conditions affecting our
business and industry.
Additional risks that could affect our future operating results
are more fully described in our filings with the United States
Securities and Exchange Commission, including, but not limited to,
Annual Reports on Form 20-F. These filings are available at
www.sec.gov. We may, from time to time, make additional written and
oral forward-looking statements, including statements contained in
the company’s filings with the Securities and Exchange Commission
and our reports to shareholders. We do not undertake to update any
forward-looking statement that may be made from time to time by us
or on our behalf.
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