Wipro Acquires Majority Stake in US Insurtech Aggne Global for $66 Million

14 Feb 2024 , 02:36 PM

Wipro acquires a 60% stake in US-based insurtech Aggne Global for $66 million to enhance its position in the insurance sector, especially in property and casualty (P&C) insurance.

Aggne, founded in 2019, is incorporated in the US and India, with offices in Tampa, Florida, and Hyderabad, India, employing 230 individuals.

With this investment, Wipro becomes the majority shareholder in Aggne, gaining unique capabilities and intellectual property (IP) in the P&C insurance space.

The collaboration aims to deliver enhanced value, faster speed-to-market, and differentiated services to clients in the P&C sector.

Aggne offers services to help insurers transform operations, drive efficiencies, and provide optimal customer experiences, focusing on the P&C insurance industry.

Wipro’s Ritesh Talapatra sees Aggne’s capabilities strengthening Wipro’s value proposition in the fast-growing P&C insurance sector.

Harpreet Arora, Senior Vice President at Wipro, expresses excitement about adding Aggne’s capabilities to their portfolio, driving competitive advantage and customer loyalty.

Asha Kalidindi, CEO of Aggne, anticipates growth opportunities and global reach through the partnership with Wipro, benefiting clients and employees.

Wipro, an Indian multinational corporation, provides IT, consulting, and business process services, known for its expertise in cloud computing, cybersecurity, digital transformation, and other technology consulting services.

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