(Image credit: Elena G/Unsplash.)
Wipro Limited (Tampa, Fla./Bangaluru), a technology services and consulting company, has announced that it has made a significant investment in Aggne (Hyderabad, India), a consulting and managed services company serving the insurance and InsurTech industries.
Wipro reports that, with this investment, it becomes a majority shareholder in Aggne. The acquisition brings to Wipro a highly sought-after and unique set of capabilities and intellectual property in the property/casualty insurance space, according to a Wipro statement. The firm says that 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,” comments Ritesh Talapatra, SVP, 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 range of services designed to help insurers transform operations, drive new efficiencies, and deliver optimal customer experiences, according to the Wipro statement. The company focuses on building industry-changing solutions for the P&C insurance industry, with a commitment to collaborating with clients as partners.
Strong Focus on the Duck Creek Platform
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,” comments Harpreet Arora, SVP and Global Head of Banking, Financial Services and Insurance Domain & Consulting, 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.”
“We are excited about the partnership between Aggne and Wipro,” comments Mike Jackowski, CEO, Duck Creek Technologies. “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 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,” comments Asha Kalidindi, Co-Founder and CEO, 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.