Wipro Technologies to help property and casualty insurance companies improve their underwriting efficiency

BANGALORE, India, Nov. 2, 2004--The Insurance practice of Wipro Technologies, the global IT services division of Wipro Limited (NYSE:WIT), announced the launch of its underwriting transformation solution for Property & Casualty insurance companies. The solution would help these organizations bring down their combined ratios below the 100-mark by improving the efficacy of the underwriting process -- both in terms of its 'risk assessment' and 'producing' capabilities.

Explaining the rationale behind the solution, Madhava M, Head of Insurance Domain Consulting Group, Wipro Technologies commented, "For long enough insurance companies could sustain a combined ratio of more than 100% backed up by good returns on investment portfolios. However, in today's tough economic environment and dwindling investment incomes insurance companies are forced to revisit their core operations like underwriting. And this should happen proactively."

The underwriting transformation solution developed by Wipro uses data warehousing and business intelligence tools and techniques to analyze underwriting, claims, sales and external data to measure and improve the quality and effectiveness of underwriting decisions while touching upon various factors like risk profiling, product pricing etc.

"Insurance companies need to continuously improvise their underwriting process, focusing on profitability through scientific analysis of historical data," said John Flynn, Senior Vice President, META Group, a leading provider of IT research, advisory services and strategic consulting. "With increasing competition and the changing market scenario, carriers need to maintain underwriting discipline and focus on underwriting profitability."

Wipro has developed solution frameworks that would help insurers bring down the combined ratio by addressing its two components -- the loss ratio and expense ratio through underwriting transformation and activity based costing respectively. These solutions are developed leveraging the existing IT infrastructure without demanding aggressive IT investments on part of the companies.

The underwriting transformation framework is a part of Wipro's point services offering for the insurance industry. Talking about point services Soumitro Ghosh, Vice President Insurance Solutions, Wipro Technologies said, "Using our incisive technology and an understanding of the insurance domain we offer specific point services to address key pain areas of insurance companies. Insurers while realizing the need to adopt new technologies for business growth are often constrained by restrictive budgets and sunk investments in existing IT inventory. The point services aim to address the pain areas using technology while working around the existing IT infrastructure."

About Wipro Limited

Wipro Limited is the first PCMM Level 5 and SEI CMM Level 5 certified IT Services Company globally. Wipro provides comprehensive IT solutions and services, including systems integration, information systems outsourcing, package implementation, software application development and maintenance, and research and development services to corporations globally. In the Indian market, Wipro is a leader in providing IT solutions and services for the corporate segment in India offering system integration, network integration, software solutions and IT services. Wipro also has profitable presence in niche market segments of consumer products and lighting. In the Asia Pacific and Middle East markets, Wipro provides IT solutions and services for global corporations. Wipro's ADSs are listed on the New York Stock Exchange, and its equity shares are listed in India on the Stock Exchange - Mumbai and the National Stock Exchange, among others. More information is available at

Forward-looking and cautionary statements

Certain statements in this release concerning our future growth prospects and our ability to successfully complete and integrate potential acquisitions are forward looking statements, which involve a number of risks, and uncertainties that could cause actual results to differ materially from those in such forward looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding our ability to integrate and manage acquired IT professionals, our ability to integrate acquired assets in a cost effective and timely manner, fluctuations in earnings, our ability to manage growth, intense competition in IT services including those factors which may affect our cost advantage, wage increases in India, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, restrictions on immigration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks, liability for damages on our service contracts, the success of the companies in which Wipro has made strategic investments, withdrawal of fiscal governmental incentives, political instability, legal restrictions on raising capital or acquiring companies outside India, unauthorized use of our intellectual property and general economic conditions affecting our industry. Additional risks that could affect our future operating results are more fully described in our filings with the United States Securities and Exchange Commission. These filings are available at Wipro may, from time to time, make additional written and oral forward looking statements, including statements contained in the company's filings with the Securities and Exchange Commission and our reports to shareholders. Wipro does not undertake to update any forward-looking statement that may be made from time to time by or on behalf of the company. For further information, please visit our websites at, and

Wipro Limited
Supratim Sarkar, +91-80-25056683

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