Wipro’s investment in strategic acquisitions including Capco and Edgile, along with its strong industry expertise, contributed to the company’s Leader position.
The insurers have started embracing the latest cloud services amidst the evolving market dynamics and changing customer expectations. Everest Group evaluated 35 IT service providers in 2023 for their Cloud Services in Insurance PEAK Matrix Assessment. Wipro was named a Leader in the 2023 assessment.
“Wipro has done well to expand its cloud consulting and security-related offerings portfolio via strategic acquisitions,” said Aaditya Jain, Vice President, Everest Group. “Focused investments to build FullStride Cloud Studio allows Wipro to position a full-stack cloud services value proposition. Credible success proof points in delivering cost-effective cloud operational services and managing scaled hybrid/multi cloud environments have helped Wipro earn a Leader recognition on Everest Group’s inaugural Cloud Services in Insurance PEAK Matrix® Assessment 2023.”
In its 2023 assessment of Cloud Services providers in Insurance, Everest Group said Wipro demonstrated the following key strengths:
- Meaningful investments in strategic acquisitions including Capco, bolstering its cloud consulting capabilities and insurance domain expertise, as well as Edgile helping it build robust cloud security frameworks and zero-trust practices.
- Development of Wipro's Full Stride Cloud unit, which has helped it strengthen the value proposition of being a full-stack provider delivering end-to-end cloud transformation services to insurers, and expertise in Infrastructure, application, and core modernization.
- Strong partnerships with niche FinOps players to address the high compute and storage cost concerns of insurers, supported by proof points of delivering cloud operational services to help insurers optimize cost and maximize value.
- Credible success proof points of assisting carriers build scalable and composable end-to-end cloud platforms as well as expertise in managing hybrid/multi-cloud environments.
- Clients have recognized their efforts and focus on building and retaining certified talent pool with strong technical and domain expertise via various internal initiatives.