Wipro is an Indian multinational corporation that provides information technology, consultant and business process services. It is one of the leading Big Tech companies
The acquisition, valued at US$66 million, marks Wipro’s significant investment aimed at bolstering its presence in the insurance domain, particularly in the property and casualty (P&C) insurance segment.
Established in 2019, Aggne operates in both the United States and India, with corporate headquarters in Tampa, Florida, and an operational base in Hyderabad, India. The company boasts a team of 230 professionals across its offices, positioning itself as a key player in the evolving landscape of insurance technology.
Despite the investment, Wipro’s shares experienced a slight dip of nearly 2% following the announcement. At 10:50 am, the company’s shares were trading at Rs 505 on the National Stock Exchange.
Ritesh Talapatra, Senior Vice President of Capital Markets and Insurance, Americas 2 Strategic Market Unit at Wipro Ltd., highlighted the expertise of the Aggne team in the P&C insurance space. Talapatra emphasised Aggne’s innovative approach to implementations, which accelerates time-to-market and enhances client satisfaction.
Wipro’s strategic investment in Aggne Global reflects its commitment to leveraging specialised expertise and innovative solutions to drive growth opportunities in the competitive insurance market.
As the partnership unfolds, industry observers anticipate synergies between Wipro’s global scale and Aggne’s niche capabilities to unlock new avenues for business development and client engagement.
