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Wipro Recognized as a Leader by Everest Group in Healthcare Payer Operations Services PEAK Matrix® Assessment 2020

Posted On: 2020-09-15 10:10:08

Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO), a leading global information technology, consulting and business process services company, today announced that it it has been positioned as a Leader in Everest Group's PEAK Matrix® for Healthcare Payer Operations Service Providers 2020.

The report evaluated the digital services capabilities of 29 global healthcare BPS providers and mapped them on the Everest Group PEAK Matrix® based on several parameters including vision, capability, and market impact. Wipro was positioned as a Leader owing to its portfolio mix and investment in digital platforms - such as Member 360 and Wipro HOLMESTM Artificial Intelligence and Hyper Automation Platform. This has helped it acquire new clients, besides expanding the scope of business with existing ones.

Nagendra P. Bandaru, President, Cloud and IT Infrastructure Services (CIS) and Digital Operations & Platforms (DOP) said, "Now more than ever, insurance companies need to forge stronger relationships with customers and automation is game-changer. Emerging technologies help significantly improve profit margins as well as transform customer experience. Our investment in payer business transformation framework, driven by best-inclass domain consultants and experts, has digitized the heath experience and enabled our customers to be ahead of the curve."

Mohd Ehteshamul Haque, Senior Vice President and Global Head - Healthcare Vertical, Wipro Limited said, "The rules of engagement and compliance are being rewritten every day and, now more than ever, health insurance buyers expect better care and digital engagement at lower premiums. Our strategy addresses this by creating personalized health plans for members at competitive costs. We achieve this through our Unified Digital Payer Platform supported by our strong partnership ecosystem that broadens our capability. This, coupled with our approach of Business Transformation through Customer Journey Mapping and Rapid Prototyping for the Payer Market is paying off."

"For healthcare payers, one of the biggest issues is the lack of an integrated solution approach by third-party partners," said Manu Aggarwal, Vice President, Everest Group. "Wipro's development of a payer-in-the-box solution, leveraging its services/platforms through a partner ecosystem, has helped it offer a unified solution in areas such as member enrolment (through its Medicare and Affordable Care Act (ACA) platforms) and claims management."

According to Everest Group, the impact of COVID-19 on businesses resulting in job losses is likely to increase the number of people buying health insurance through individual exchanges. Given that Wipro has a strong portfolio of offerings catering to public exchange business, a surge in demand is likely to further drive the revenue growth.

Shares of WIPRO LTD. was last trading in BSE at Rs.307.3 as compared to the previous close of Rs. 307.15. The total number of shares traded during the day was 752599 in over 10305 trades.

The stock hit an intraday high of Rs. 311.15 and intraday low of 302.75. The net turnover during the day was Rs. 231372275.

Source: Equity Bulls

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