Case Study: a UK-based leading life and pension provider achieves 50%+ cost savings with Wipro

Wipro delivers 50% cost savings on operations for a UK-based leading life and pension provider

Wipro was engaged by a UK-based leading life and pension provider that faced significant operational challenges. The client struggled with high processing times, low underwriting quality, and scattered operations that led to poor customer satisfaction and uncompetitive costs. They needed to consolidate processes, reduce turnaround times for new applications, improve service quality, and grow their international business without incurring high expenses.

Wipro implemented a strategic partnership to handle the client's end-to-end servicing, using robust transition processes, Six Sigma/Lean projects, and multi-skilled resources to manage volume fluctuations. The solution included an innovative transaction-based pricing model. Wipro delivered substantial results, including over 60% cost savings in underwriting, a 40% productivity gain, and an increase in underwriting accuracy to 99%. Turnaround times for new business applications were also cut in half, dramatically improving service levels.